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“Software is eating the world, but AI is going to eat software.” – Jensen Huang, May 2017

Morning stock market summary

Below is a snippet of commentary from today’s Morning Lineup.  Start a two-week trial to Bespoke Premium to view the full report.  

US equity futures are trading slightly lower this morning, while Treasury yields are mostly flat from where they closed last Friday.  Walmart (WMT) beat estimates and is trading up a little more than 2%, while Home Depot (HD) beat as well but is trading down about 2%.

While Walmart (WMT) has historically marked the unofficial end of earnings season each quarter, the fact that NVIDIA (NVDA) reports tomorrow means we should probably push that back a day.

NVIDIA (NVDA) has a lot to live up to when it comes to earnings.  The stock is up 50% YTD already and now has a market cap of $1.8 trillion.  As shown below, the stock has reported an earnings triple play on its Q4 earnings report for four years in a row and seven out of the last eight years coming into its Q4 2023 report tomorrow.  Will anything less than another strong triple play be enough to satisfy investors?

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