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Markets Exploding on End of Shutdown Hopes

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By Ian Cooper Published

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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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.

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Photo of Ian Cooper
About the Author 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.

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