Jensen Huang, co-founder and chief executive officer of Nvidia Corp., during a news conference in Taipei, Taiwan, on Tuesday, June 4, 2024. Nvidia is still working on the certification process for Samsung Electronics Co.’s high-bandwidth memory chips, a final required step before the Korean company can begin supplying a component essential to training AI platforms.
Annabelle Chih | Bloomberg | Getty Images
My top 10 things to watch Tuseday, Jan. 28
1. In Jensen we fail? Really? Jensen Huang’s Nvidia bounced Tuesday after losing $600 billion in market cap in one day. The sell-off was prompted by concerns about Chinese AI startup DeepSeek getting more computing power out of throttled-back Nvidia chips.
2. Nvidia told CNBC, “DeepSeek is an excellent AI advancement and a perfect example of Test Time Scaling … leveraging widely available models and compute that is fully export control compliant.” U.S. export controls prohibit Nvidia from selling its most powerful chips in China.
3. Morgan Stanley cut its price targets on Club name Nvidia and host of other semiconductor stocks, including Club holding Broadcom. You knew that would happen. Everyone has to do this before there can be a bottom. The analysts, however, said they remain positive on AI chip stocks.
- Federal Reserve announcement: Keep an eye on any updates from the Fed regarding interest rates or monetary policy decisions.
- Earnings reports: Look out for quarterly earnings releases from major companies, as they can have a significant impact on stock prices.
- Economic data: Pay attention to any new economic data releases, such as GDP growth or unemployment figures, which can affect market sentiment.
- Trade war developments: Stay informed about any updates on the ongoing trade tensions between the U.S. and China, as they can impact global markets.
- Oil prices: Monitor oil prices closely, as they can influence energy stocks and the overall market.
- Tech sector performance: Watch how tech stocks are performing, as they often lead the market and can provide clues about overall market direction.
- Consumer sentiment: Keep an eye on consumer sentiment indicators, as they can provide insights into consumer spending trends and overall economic health.
- Political news: Be aware of any political developments that could impact the stock market, such as new policies or regulations.
- Market volatility: Pay attention to market volatility levels, as increased volatility can signal uncertainty and potential market moves.
- Sector rotation: Track any shifts in sector performance, as investors may rotate their investments based on changing market conditions.
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