Nvidia disappointed in Q2 earnings, stock drops over 8% in after-hours trading

From Investing.com: 2024-08-29 05:57:00

Nvidia disappointed in Q2 earnings, despite doubling revenue from last year. Investors were hoping for more details on production issues and revenue expectations for new AI chip, causing stock to drop over 8% in after-hours trading.

Equity markets mixed after Nvidia results. Attention now on US data releases for market direction as investors await next week’s US report. Speculation around Fed rate cuts continues, with focus on today’s GDP revisions and tomorrow’s inflation figures.

Euro weakens as German and Spanish CPI data below expectations, signaling potential for September rate cuts by ECB. Meanwhile, Kiwi strengthens near eight-month highs on positive ANZ business outlook survey despite Australian capital expenditure shrinkage.

In conclusion, Nvidia’s disappointing earnings led to a drop in stock price, while equity markets await US data for direction. Euro weakens on soft CPI readings, while Kiwi strengthens on positive business outlook survey.



Read more at Investing.com: Nvidia Earnings Fail to Buoy Markets, Focus Turns to US Data