Stocks are in a fragile mood ahead of Nvidia earnings tonight, while oil prices have fallen once more, says Chris Beauchamp, Chief Market Analyst at online trading platform IG.
Stocks edge down ahead of Nvidia earnings
“The key event of the week is nearly upon us. Nvidia’s earnings tonight could well set the tone at least until the next payrolls report, and possibly until the Fed decision in September. A miss now would likely spark the next big risk-off move, reversing much of the recent recovery. Meanwhile a better set of numbers could give stocks the lift they have been looking for this past week.”
Oil stumbles for a second day
“Oil prices have been unable to hold on to their gains lately, and yesterday’s drop has been followed up with more declines. Traders have been on edge waiting for a renewal of conflict between Iran and Israel, but so far this has failed to materialise, leaving oil bulls with little to cling to.”
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