Wall Street closed on Monday
Guys, tomorrow is George Washington Day in the US. George Washington Day, celebrated on the third Monday of each February in the United States, honors the first president of the country, George Washington, and his contributions to American history. It's a day to reflect on his leadership during the Revolutionary War, his role in drafting the Constitution, and his legacy as a founding father. Many communities commemorate the day with parades, reenactments, and educational events focused on Washington's life and achievements.
Wall Street is closed on George Washington Day, also known as Presidents' Day, because it's a federal holiday in the United States. Federal holidays typically result in the closure of government offices, banks, and financial markets, including the New York Stock Exchange and NASDAQ. This closure allows employees to have a day off to observe and celebrate the holiday.
What to expect
As we all know, once Wall Street as the world’s leading stock exchange is closed we shouldn’t expect much traffic or transaction volume. Often the market is more or less flat on these days.
BUT the rest of the week still has some interesting earnings to offer. Big consumer good companies like Walmart (Tuesday), Nestle (Thursday) or Coca Cola (Friday) are reporting the latest numbers as well as German Blue Chips Deutsche Telekom, Allianz and BASF end of the week. This could give the market some impulses, we will see in what direction.
The most important earnings though…
…will be that of NVIDIA on Wednesday. For sure! This stock is the Symbol for the current narrative of AI and the growth it will bring to both society and the corporate sector. The Company has already performed massively in the past months, being up about +50% YTD alone, but the market is waiting for more. As a Wall Street Analyst put it: It could be the „most important earnings report of the year“.
If the numbers published this week are not good enough, this could lead to an aprupt end for the rallye we saw recently. And I mean not only the NVIDIA rallye but the whole market could cool down. Being part of the so called Magnificent Seven stocks it had huge influece also on the performance of the S&P index. So question is: Can NVIDIA again crush the estimates? Will it be enough growth for Investors? Or is too much growth even contraproductive since inventories could build up, leaving not that much more room for future revenues? Is NVIDIA stock overhyped, after a 250% rise in the past twelve months? Hard so say, honestly, but I would rather bet on a dissapointment this time than another big surprise. So I am really excited about this report on Wednesday and will Watch closely.
What earnings are you looking forward to the most?
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Honestly, I’m not looking forward to any earning right now but you mentioned that Wall Street is the world’s leading stock exchange.
That’s Forex and if I decide to trade today, will that have an effect on Forex?
I think tomorrow will be a massive holiday then to celebrate
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Whenever a holiday comes, everyone is very happy because even within this day there is an opportunity to enjoy with friends.