We’re seeing trading activity take a breath and pause today, ahead of a slew of events occurring in the near term. Earnings season is underway, and major financials are due to report this Friday. These will include JPMorgan Chase & Co. (JPM), BlackRock Inc (BLK), and Wells Fargo & Co. (WFC). These reports will undoubtedly set the tone for invesors and analysts alike, because their data will offer broader contextual clues about the economy and general corporate performance. Recent comments from Fed officials are offering an optimistic economic outlook for 2018, which indicate there may be four, instead of three, interest rate hikes this year. November data for consumer credit is also being assessed today.
Stocks in focus
Sunday saw a pre-CES announcement from Nvidia Inc (NVDA) which indicated the chip maker is beginning a partnership with Uber Inc. This partnership will be focused on self-driving technology and Nvidia will be providing hardware to support Uber’s beleaguered autonomous driving program. At the time of publication, NVDA shares are up 3.90%.
Following a report from GoPro Inc. (GPRO) which showed a well-below expected Q4 revenue forecast, shares took a sharp dive. GoPro, which is down 19.68% at the time of publication, also indicated it will be halting its drone business in the future.
At the time of publication, the DJIA is down 0.11%, or 27.22 points, at 25,269. The S&P 500 is trading at 2,743- down 0.01% from the open. The Nasdaq-100 is up 0.20% at 7,151.