Wall Street is Pounding the Table Over NVDA, RUN, LLY
Markets are coming back strong. All thanks to the news that the government shutdown may soon be over, which would remove a good deal of uncertainty in the markets. In fact, in the latest…
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Stock Market Live November 10: S&P 500 (SPY) Flying on Potential End to Shutdown
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Newest firstCiti just reiterated its buy rating on Nvidia
Ahead of Nvidia earnings next week, analysts at Citi reiterated a buy rating on the stock, with a price target of $220 from $210. The firm expects NVDA to post sales of $56.8 billion, as compared to analyst expectations for $54.6 billion.
Analysts at Bank of America just reiterated a buy rating on Nvidia. The firm says NVDA is well-positioned for healthcare and artificial intelligence. “Nvidia, a leader in accelerated computing, has broadened its reach into high-compute healthcare workloads and continues to engage in partnerships on the application side,” they said, as quoted by CNBC.
In addition, according to analysts at UBS, it sees Nvidia guiding fourth quarter revenue to a range of $63 billion to $64 billion. At the moment, the firm has a buy rating with a price target of $235.
Markets Exploding on End of Shutdown Hopes
Out of the gate, markets are exploding.
All on hopes the shutdown is finally coming to an end. In fact, as we speak, the S&P 500 is up about 80 points. The Dow is up 180, as the NASDAQ tacks on 465 points.
In the latest agreement, some Democrats and Republicans finally reached a vote of 60 to 40 to advance the vote to the next stage. However, even with the vote, the process to get it all the way through Congress could take days.
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The story so farFor weeks, the government shutdown created a good deal of uncertainty.
Today, though, markets are rocketing on news that the government shutdown may soon be over.
The S&P 500 is up 62 points. The SPDR S&P 500 ETF (SPY) is up $6.17 a share. The Dow is up about 173, as the tech-heavy NASDAQ rallies 370 points.
In the latest agreement, some Democrats and Republicans finally reached a vote of 60 to 40 to advance the vote to the next stage. However, even with the vote, the process to get it all the way through Congress could take days.
As noted by NBC News, “The deal funds the government through Jan. 30, would fully fund the Supplemental Nutrition Assistance Program, and reverses attempted layoffs of federal workers. But in a major concession from Democrats, it does not include an extension of expiring Affordable Care Act subsidies.”
Airline Stocks are Flying on Hopes the Shutdown is Over
Airline stocks were under pressure after the Federal Aviation Administration (FAA) announced flight reductions at 40 major airports thanks to the shutdown.
As a result, millions were “slightly” ticked off.
However, with news now surfacing that the shutdown may be nearing an end, we’re starting to see rebounds in oversold airline stocks, such as Delta (NYSE: DAL | DAL Price Prediction), American Airlines (NASDAQ: AAL), JetBlue Airways (NASDAQ: JBLU), and United Airlines (NASDAQ: UAL).
Analysts at Citi just raised their Price Target on Nvidia
Ahead of Nvidia (NASDAQ: NVDA) earnings next week, analysts at Citi reiterated a buy rating on the stock, with a price target of $220 from $210. The firm expects NVDA to post sales of $56.8 billion, as compared to analyst expectations for $54.6 billion.
The firm also raised its forecast for the 2028 data center semis total addressable market to $654 billion, as compared to earlier estimates of $563 billion.
Analysts at Bank of America just reiterated a buy rating on Nvidia. The firm says NVDA is well-positioned for healthcare and artificial intelligence. “Nvidia, a leader in accelerated computing, has broadened its reach into high-compute healthcare workloads and continues to engage in partnerships on the application side,” they said, as quoted by CNBC.
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Ian Cooper
Ian Cooper is a veteran market analyst and investment strategist with more than 20 years of experience covering stocks, commodities, and macro trends. Since 1999, he has helped investors identify market opportunities using a blend of technical analysis, fundamental research, and market sentiment.
He is the creator of the ADD News Flow Strategy, which focuses on trading market reactions to major news events and investor psychology. Cooper was also among the analysts who warned about the 2008 financial crisis and major financial institution collapses ahead of the broader market.
Before joining 247 Wall St., Cooper wrote extensively for InvestorPlace and other financial publications, covering market trends, trading strategies, and investment opportunities.
