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Nvidia (NVDA) released their earnings after the bell yesterday and what is some are calling the “last major catalyst of the year.” Earnings are behind us, we only have one more Fed meeting, and economic data is being looked through as traders look ahead to what the Trump administrations policies will be. We will break down Nvidia’s earnings along with the developing technicals in the Tackle Today video and in depth in the Trader’s Lounge today.

Stocks in the News

• NVIDIA (NVDA): Reported EPS of $0.81, beating by 9.5%, on revenue of $35.08 billion, up 94% year-over-year. Q4 revenue guidance of $36.75 billion to $38.25 billion reflects a 5.3% increase.
• Palo Alto Networks (PANW): Reported EPS of $1.56, beating by 5.4%, on revenue of $2.14 billion, up 13.9% year-over-year. FY25 revenue guidance of $9.12 billion to $9.17 billion reflects a 0.2% increase.
• Deere (DE): Reported EPS of $4.55, beating by 17%, on revenue of $11.14 billion, down 27.7% year-over-year. FY25 revenue guidance was reaffirmed.
• Snowflake (SNOW): Reported EPS of $0.22, beating by 46.7%, on revenue of $942.09 million, up 28.3% year-over-year. FY25 product revenue guidance of $3.43 billion reflects a 2.2% increase.
• BJ’s Wholesale Club (BJ): Reported EPS of $1.18, beating by 29.7%, on revenue of $5.10 billion, up 5.8% year-over-year. Q4 EPS guidance of $0.78 to $0.88 reflects a 10.6% decrease.

Economic Reports

An uneventful day in the economic landscape despite a few reports relased this morning. Economic news has taken a backseat as traders and investors look ahead to what the new administration’s policies will be.

• Unemployment claims: 213k vs 220k expectatations
• Philly Fed Manufacturing: -5.5 vs 7.4 expectations
• Existing Home Sales: 3.96M vs 3.95 expectations

Rate cut odds were unmoved today but have dropped to under a coin flip for the December meeting.

Next 24 Hours

Manufacturing and services PMI numbers come out tomorrow morning in arguably the most important economic reports of the week. Eyes will be on bond yields and the dollar tomorrow after the report.

Have a fantastic Thursday!

Nvidia (NVDA)

Nvidia (NVDA) reported earnings and has a clean breakout to navigate in the coming days as the earnings reaction has been muted. The numbers were solid and it now becomes a technical story in the coming days and weeks.

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