Nvidia Corp.’s earnings due Wednesday is such a big event in markets that Goldman Sachs Group Inc.’s trading desk has called it “the most important stock on planet earth.”
With options positioning implying about a 11% move in either direction, AI poster-child Nvidia could shake up financial markets given its influential weighting on indexes and crowded long positions in the stock. Just Nvidia alone has been responsible for one-third of the Nasdaq 100 Index’s gains this year.“Everyone is in the pool and there are positioning warning signs,” Goldman tactical specialist Scott Rubner wrote in a note to clients on Tuesday. “The bar is high, and by high I mean a big beat is expected.”Traders are bracing for more volatility after Nvidia tripled in value over the past year — pumped by an unrelenting artificial intelligence frenzy that’s propelled broader markets. Nerves are already running high, with the stock falling 4.4% on Tuesday, dragging megacap peers down with it.
The challenges continue for the financial services giant as its new CEO orchestrates a "measured, thoughtful and fair" restructuring in its management.
Meanwhile, Orion's former COO and wealth division president has emerged to become CEO of wealth technology consultancy firm F2 strategy.
The firm said in May that current leader Paul Reilly would be stepping down.
Firm says automated tool aims to solve a gap in the marketplace.
Beverly Hills firm serves clients including those in entertainment industry.
"Synth Equity has been such a tailwind for these advisors who really understand the story," Measured Risk Portfolios’ head of distribution said.
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