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U.S. indices start today's session with moderate gains
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10-year Treasury yields fall
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Updates from companies: Palantir (PLTR.US) and Nvidia (NVDA.US)
The first trading session on Wall Street this week began with moderate gains for most benchmarks. Investor sentiment was supported today by, among other things, good data on China's trade balance. Although the economic calendar for today is relatively empty, investors' attention will turn to the situation of individual companies. Much volatility was caused by the stocks of Palantir (PLTR.US) and Nvidia (NVDA.US), which reported weak quarterly results and lowered earnings forecasts for the full year.
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Create account Try a demo Download mobile app Download mobile appCompiled charts of the US100 and VIX indexes on the D1 interval. The low valuation of the "fear index" familiar to investors and the decline in 10-year bond yields support the valuation of the benchmark of technology companies. Source: xStation 5
News:
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The US Senate passed a $430 billion climate and health package. Most of the funds are to be used to convince farmers to reduce methane emissions and to extend tax credits for electric vehicles. A National Climate Bank will also be created, which will be responsible for investing in clean technologies and ensuring energy efficiency. The package is also expected to lower drug prices for seniors.
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An unexpected quarterly loss lifted shares of Palantir (PLTR.US) more than 15% lower before today's session opened. The company also lowered guidance for the full year due to uncertainty over government contracts.
Palantir (PLTR.US) results and guidance. Source: Bloomberg
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Major turmoil was also caused by Nvidia (NVDA.US), which reported dismal preliminary quarterly results and lowered its guidance. The weak results were to be attributed to, among other things: poor performance from the gaming sector.For Q3, the company forecast revenue of $6.7 billion, compared to previous guidance of $8.38 billion.
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Nvidia's (NVDA.US) Q2 results. Source: Bloomberg
The most active stocks in the S&P500 index (US500). Source: Bloomberg
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