Aug 26 (Lagos) - This week is crucial for direction the stock market will take in New York as the Godfather of A.I,
NVIDIA will be reporting its quarterly earnings on Aug 28 and expectations are for more than 114% increase in earnings per share. This Company has been the single most beneficiary of the AI revolution that is currently on-going in the world of IT, its chips are key hardware that is running AI platforms such as ChatGPT or even Bitcoin mining.
Then on Aug 30, the Federal Government's US Dollar offer will be closing. This event is a first of its kind initiative and seems smart as it could help increase Dollar liquidity for the Government. However, it could cause a short term selling pressure in the stock market.
Investors will be keeping a close eye on some stocks in particular like
OANDO that completed the acquisition of Agip last week and also
TRANSCORP which showed some bullish strength last week.
reporting for easykobo.com on Monday, Aug 26 2024 from Lagos, Nigeria