20/11/2024 Evening Reports
Stock futures are calm as investors eagerly await Nvidia’s earnings, a key event that could shape Wall Street’s direction. Nvidia’s results, fueled by soaring AI demand, are expected to move its stock sharply, with concerns about potential chip delays adding suspense. Meanwhile, Target’s gloomy holiday forecast has weighed on retail stocks, highlighting challenges for the sector. With Nvidia driving market focus and geopolitical tensions easing slightly, today’s trading could set the tone for the weeks ahead.
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Oil Prices Climb Amid Geopolitical Tensions and Rising Stockpiles
Oil rose for a third day, with Brent approaching $74 a barrel, as traders weighed escalating geopolitical risks and signs of rising US inventories. Brent’s gain this week exceeded 3%, driven by Russia’s war on Ukraine and rising tensions with the West. Meanwhile, the American Petroleum Institute reported a 4.8 million barrel increase in US crude stockpiles last week, while fuel supplies declined. The US Energy Information Administration will release its data later on Wednesday.
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