AI-linked shares fell, in lead-up to AI bellwether Nvidia’s quarterly earnings, which could offer clarity on demand and justify the sector’s lofty valuations. Technology stocks globally sold off this week after a TD Cowen analyst note said Microsoft has canceled leases for sizeable data center capacity in the U.S.
Tesla’s stock tumbled 8%, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker’s sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe, compared with a 37% jump in overall sales of EVs in Europe.
Tesla’s stock dove 7.9% in the last session. The Stochastic indicator’s is giving a positive signal.
Support: 262.38 | Resistance: 347.13
The euro pulled back from earlier highs after briefly rallying following the election victory of Germany’s conservatives. Investors were also looking for clues to see if Germany will loosen its constitutionally enshrined ‘debt brake’ rule that limits the budget deficit to just 0.35% of national output.
The Euro-Dollar price remained largely unchanged in the last session. The Stochastic indicator is giving a positive signal.
Support: 1.0371 | Resistance: 1.0596
Wall Street’s main indexes were mixed in choppy trading, with technology stocks creating the biggest drag as investors awaited results from chip giant Nvidia for clues on the future of demand for artificial intelligence technology. The Dow and the S&P 500 managed small gains.
Bitcoin is currently down 8% in February and is less than a week away from registering its first negative monthly returns since February 2020. With the average return sitting at around 14%, the likelihood of Bitcoin hitting a new all-time high is relatively low based on current sentiments.
The Bitcoin-Dollar pair dove 2.0% in the last session. The ROC is giving a negative signal.
Support: 90896 | Resistance: 98789
British stocks ended flat on Friday as investors reacted to mixed economic data this week that left the Bank of England uncertain about the UK’s economic and monetary policy outlook. The benchmark FTSE 100 dipped 0.04%, in the red for a fourth straight session.
