(AOF) – American markets are moving in a mixed order against the backdrop of a new rise in rates. The yield on the 10-year is flirting with 4.7% after two better-than-expected economic statistics. Job openings (Jolts report) exceeded expectations in November, as did the non-manufacturing Purchasing Managers’ Index (ISM) in December. An eminent member of the American stock market, Nvidia had time to set a new record before collapsing under the influence of profit-taking. Around 5:40 p.m., the Dow Jones gained 0.13% to 42763.54 points and the Nasdaq Composite lost 1.09% to 19647.76 points.
Up at the opening and setting a new all-time high at $153.13, Nvidia now lost 4.65% to $142.48. During a conference organized last night at the Consumer Electronics Show in Las Vegas – the most important show dedicated to technological innovation for consumer electronics – Nvidia boss Jensen Huang revealed the latest developments of his company in the field of artificial intelligence. “Nvidia continues to expand its well-optimized and targeted range of AI services for businesses,” summarizes Bank of America.
Today’s economic figures
The non-manufacturing purchasing managers’ index (ISM) stood at 54.1 December after 52.1 in November. It was expected at 53.5.
The U.S. Department of Labor’s JOLTS report showed 8.098 million job openings in November, compared to a consensus of 7.73 million. A month earlier, these job openings numbered 7.839 million, a revised figure of 7.444 million.
In the United States, the trade balance deficit stood at $78.20 billion in November against a consensus of $78.30 billion. It reached $73.60 billion in October.
Values to follow today
AbbVie
AbbVie on Monday lowered its adjusted profit forecasts for 2024. In a document sent to my SEC, the watchdog of American markets, the drugmaker announced that it had incurred $1.6 billion in acquisition expenses linked to milestone payments as well as research and development costs. The company expects adjusted earnings of $10.02 to $10.06 per share for 2024, up from $10.90 to $10.94 previously. Analyst consensus was $10.94, with AbbVie expecting fourth-quarter adjusted earnings of $2.06 to $2.10 per share.
Distribution
Online retail spending reached new highs during the U.S. holiday season, Adobe Digital Economy reported. Consumers spent $241.4 billion online during the 2024 holidays, an increase of 8.7% from 2023. Spending via mobile devices was even greater this year. This season, mobile revenue share reached a record 54.5% of online purchases. Mobile shopping peaked on Christmas Day, accounting for 65% of sales.
Micron
Micron Technology’s stock is expected to rise as the computer memory maker was named by Nvidia as one of the main suppliers of its new line of graphics cards for gaming PCs. These are built on the basis of the Blackwell chip.
Nvidia
During a conference organized during the Consumer Electronics Show in Las Vegas – the most important exhibition dedicated to technological innovation for consumer electronics – the boss of Nvidia, Jensen Huang, unveiled new graphics cards for PCs intended for gaming, built on the basis of the Blackwell chip. Historically, Nvidia had made a name for itself thanks to the performance of its graphics cards for personal computers.
Stryker
Stryker is expected lower after announcing a definitive agreement to acquire all of Inari Medical’s common stock for $80 per share in cash, or a total value of approximately $4.9 billion. The medtech specifies that Inari, founded in 2011, will bring it to a leading position in the peripheral vascular field in the growing venous thromboembolism (VTE) segment. Inari’s portfolio of innovative products is “highly complementary” to Stryker’s neurovascular business.
Tesla
Tesla is expected to fall in pre-market trading on Wall Street after the National Highway Traffic Safety Administration (NHTSA) announced that it has opened an investigation into approximately 2.6 million Tesla vehicles following reports of accidents linked to its functionality driverless “Actually Smart Summon”. The implicated vehicles failed to detect poles or parked vehicles despite being managed via this feature launched in September which allows users to remotely move their vehicle using a smartphone app .
Uber
Uber is expected to rise in pre-market on Wall Street after announcing a collaboration with Nvidia to ‘accelerate the development of safe and scalable autonomous driving solutions’ using AI. ‘Generative AI will power the future of mobility, requiring both rich data and very powerful computing capabilities,” said Dara Khosrowshahi, CEO of Uber. “Millions of trips take place every day on Uber, which represents a vast source of data,” underlines the operator.
