"NVIDIA is firing on all cylinders, achieving record revenues in gaming, data center and overall," CEO, Jensen Huang said.
NVIDIA (NASDAQ: NVDA) Q3 earnings exceeded Wall Street estimates. The California-based company posted record revenue of $4.73 billion for the last quarter, up 57% from $3.01 billion a year earlier. Most importantly the revenue from the gaming market increased 37% from last year to $2.27 billion.
- EPS $2.91 vs $2.57 expected
- Revenue $4.73B vs $4.41B expected
Wall Street ended lower for the second consecutive day as the newly confirmed infections per day in the US have exploded by more than 80 per cent in the past two weeks. While Tesla shares continue the upside move and the stock closed 10% higher on Wednesday. The $TSLA climbed by over 17% since the start of the week (NASDAQ: TSLA) following news that the company will join the S&P 500 before the opening bell on December 21.
Crude oil prices continue its up and down moves while the overall momentum remained bullish throughout this week. Meanwhile, the EIA data showed inventories rose by 0.768 million barrels below market expectations of a 1.65 million advance.
In the currency market, the British pound shift into reverse gear after the currency pair failed to break the previous week high on Wednesday. At the time of writing, the pair trades near the short-term support of 1.3200.
Gold price remains under pressure. The yellow metal extends the losses on Thursday after Pfizer and BioNTech reported more promising vaccine data.
On the coronavirus vaccine front, The Pfizer vaccine will be submitted for regulatory approval "within days," As per the recent report, the final efficacy analysis in their ongoing Phase 3 study, their mRNA-based COVID-19 vaccine candidate, met all the study’s primary efficacy endpoints. On the other hand, Oxford and AstraZeneca announced on Thursday that their Covid-19 candidate is safe and produces immune response among older adults.
Moving ahead today, the important events to watch:
US – Initial jobless claims: GMT – 13.30
US – Philly fed manufacturing Index: GMT – 13.30
US –Existing home sales: GMT – 15.00
Worldwide coronavirus deaths have reached 1,354,813with more than 56.5 million reported cases. The US has passed 11.3 million confirmed cases, with over 248,000 deaths from COVID-19, the highest numbers in the world. The UK registered the highest increase in daily COVID-19 fatalities since May 6th on Tuesday, while France reached 2-million infections.
EUR/USD: The currency pair failed to keep with the upside momentum due to rising coronavirus cases across Europe. German health authorities reported 22.6 thousand new cases, one of the largest daily increases since the pandemic started in March.
The important levels to watch for today: Support- 1.1810 and 1.1780 Resistance- 1.1860 and 1.1890.
GOLD: The gold price plunged to fresh weekly low of $1855 on Thursday. While the yellow metal slightly reversed during the European session. At the time of writing, the gold trading around $1864.
The important levels to watch for today: Support- 1848 and 1835 Resistance- 1872 and 1885.
Quote of the day: It is not true that people stop pursuing dreams because they grow old. They grow old because they pursuing dreams – Gabriel Garcia Marquez.