The Paris Stock Exchange closed this Tuesday session on a stable note (-0.32% for the Cac 40, at 7,565.78 points), in a weak trading volume of less than 2 billion euros, due to the lack of new catalysts. Investors were patient before the results of Nvidia, the main issue of the week, then the new data on American inflation.
Price developments remain paramount in the eyes of central bankers and therefore investors, but their importance is less than it was a few months ago for the direction of the Federal Reserve’s monetary policy. Given the progress observed in inflation, Jerome Powell, the Fed’s boss, has stressed that he is paying particular attention to the labor market, the second axis of the Fed’s mandate, which must be protected from excessive braking. The next monthly employment report, expected on September 6, will therefore probably be the trigger that conditions the extent of the interest rate cut next month, 25 or 50 basis points.
Before that, the next catalyst for markets will come tomorrow night, with Nvidia’s financial results closing out the season for the prestigious “Magnificent Seven” club. Analysts are predicting that the American company posted revenue of $28.7 billion in the three months to July 28, which would represent a more than 100% increase year-on-year… but a slowdown from the 262% growth in the first quarter ($26 billion), fueled by insatiable demand for its AI chips. The second-largest weighting in the S&P 500 after Apple, the AI powerhouse can single-handedly make or break a session. On a global scale. Options trading shows that traders are pricing in a 9% move in the stock, up or down, depending on the tenor of its release. More likely up, according to Citi’s forecast. Its analysts believe that demand for the current generation of Hopper chips should offset the impact of any delays in the launch of Blackwell chips.
Ubisoft’s Next Release Gets Great Reviews
In New York, the main indices are also moving on a stable note. The Super Micro Computer stock, very popular in the market in the AI universe, lost 2% after falling 8.7% in early trading. The seller discovered Hindenburg Research claims that its teams, after three months of investigation, have revealed “glaring accounting red flags, evidence of undisclosed related party transactions, sanctions and export control violations, and customer issues.”
Among the strongest progressions on the SRD in Paris, Ubisoft ends up slightly up 0.64% after gaining up to more than 4%. The video game publisher is highly anticipated for Star Wars Outlaws, which is scheduled for release on PC, PS5 and Xbox Series this Friday. The Metacritic site, which compiles the game’s ratings, reports a score of 77, based on 62 reviews.
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