Here are the most important news items that investors need to start their trading day:
1. Tech heavy
2. Nvidia next
A microchip and the Nvidia logo displayed on a phone screen are seen in this photo taken in Krakow, Poland, on April 10, 2023.
Nurphoto | Getty Images
Chipmaker and AI-play Nvidia reports earnings Wednesday after the market close. Sentiment on Wall Street seems shaky, with the stock falling 4% Tuesday. (It’s still up 40% this year and more than 200% in the last 12 months.) The concern may be around its valuation, which last week surpassed Alphabet to become the third most valuable U.S. company, behind Microsoft and Apple. “NVDA’s stock appreciation has been parabolic,” analysts at Bank of America wrote in a recent report. “We think one interpretation of this NVDA move is a mix of fear and greed and indiscriminate investor chase for all things AI.”
3. Getting the boot
A flag outside the headquarters of drugstore chain Walgreens during a three-day walkout by pharmacists in Deerfield, Illinois, U.S. November 1, 2023.
Vincent Alban | Reuters
Walgreens Boots Alliance is out. Amazon is in. S&P Dow Jones Indices announced Tuesday the tech behemoth will replace the drug store retailer in the Dow Jones Industrial Average, effective next week. The swap is an effort to rebalance the price-weighted measurement of 30 stocks with increased consumer retail exposure after Dow component Walmart’s 3-for-1 stock split lowered its weight. Also included in the shake-up, airline JetBlue Airways will be removed from the Transportation average, replaced by ride-hailing company Uber.
4. Challenge on the play
TV remote control is seen with fuboTV logo displayed on a screen in this illustration photo taken in Krakow, Poland on February 6, 2022.
Jakub Porzycki | NurPhoto | Getty Images
A new sports streaming joint venture from Disney, Fox and Warner Bros. Discovery is facing its first challenge. FuboTV filed a lawsuit against the media giants over what it called “extreme suppression of…
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