Promises of Higher Earnings & Lower Rates Lift Market

Promises of Higher Earnings & Lower Rates Lift Market
Nvidia's CEO Jensen Huang delivers his keystone speech ahead of Computex 2024 in Taipei on June 2, 2024. Computex is the top annual tech showcase in Taiwan, whose advanced semiconductor industry is crucial to the production of everything from iPhones to the servers that run ChatGPT. (Photo by Sam YEH / AFP) Photo by SAM YEH/AFP via Getty Images
Louis Navellier
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Commentary

Today after market close, Nvidia will deliver the grand finale to the second-quarter earnings announcement season. In the last week, the analyst community has revised their consensus earnings estimate up 10.3%. Typically, positive analyst earnings revisions precede future earnings surprises, and that may be one reason the stock market has rebounded impressively after the Japanese carry trade sell-off that spooked many investors.

Louis Navellier
Louis Navellier
Author
Louis Navellier is chairman and founder of Navellier & Associates in Reno, Nevada, which manages approximately $1 billion in assets. One of Wall Street’s renowned growth investors, Navellier writes five investment newsletters focused on growth investing. In addition to appearing on Bloomberg, Fox News, and CNBC giving his market outlook and analysis, he has been featured in Barron’s, Forbes, Fortune, Investor’s Business Daily, Money, Smart Money, and The Wall Street Journal.
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