Analyst: US Stocks May Give Back Gains as Oil Prices and Treasury Yields Rebound
Odaily Planet Daily News Major US stock index futures are pointing to a lower open on Thursday, as stocks may give back some of their gains from the previous session's rebound. Yesterday's rally in US stocks coincided with a sharp decline in both Treasury yields and oil prices. Additionally, Nvidia shares are trading lower pre-market, and the market's negative reaction to Nvidia's earnings report could also weigh on US stock performance today.
Dan Coatsworth, head of market at AJ Bell, said that the chip giant Nvidia is increasingly resembling a "broken record," playing the same message on repeat. It essentially states that AI demand is strong, there is a long queue of customers waiting to buy its chips, and there is still significant room for growth ahead.
The market's focus is now on how long Nvidia can sustain this momentum. Even the fastest and strongest athletes eventually tire, and investors are beginning to worry that Nvidia may not be able to maintain its current growth rate. (Jin Shi)
