S&P 500 falls as Nvidia drives tech lower ahead of Tesla, Netflix results
Investing.com -- The S&P 500 fell Wednesday as Nvidia continued to weigh on tech for a second-straight day ahead of quarterly results from Netflix fell 4% after warning that the tighter U.S. curbs on exports of its A800 and H800 chips to China may impact its ability to complete development of products in a timely manner.
Morgan Stanley cut its price target for Nvidia shares 5 Biden administration0 $600 from $630 as the curbs mark a"significant setback" for the company.) reported better-than-expected Q3 results, but its guidance on profit fell short of estimates as higher fuel costs and suspended flights to Tel Aviv are expected to weigh. Its shares fell 9%.
Still some on Wall Street remain sanguine on United Airlines as the Q3 beat was delivered despite “significant headwinds,” Deutsche Banks said. “United had record profitability in the Atlantic and Pacific regions plus solid profitability in the domestic market with its second highest all-time domestic revenue production,” it added.“The beat largely came from meaningfully higher gross margins as it benefitted from favorable commodity costs along with greater price contribution,” Goldman Sachs said in a note.We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other.
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