πŸ“ˆ Oil at yearly highs

Plus: Nvidia touts "insane" chip demand

Good Morning!

Markets slipped on Thursday as Wall Street awaited the crucial jobs report, while oil prices surged 5% amid concerns over rising Middle East tensions following Biden's comments. Meanwhile, Nvidia stock jumped on soaring demand for its new Blackwell chips, and investors are eyeing potential gains in biopharma stocks as the FDA nears critical decisions.

Grab your chai latte and let's get into it! β˜•οΈπŸ‘‡οΈ

Markets

Stocks took a slight dip on Thursday as Wall Street anxiously awaited the crucial jobs report. The S&P 500 slipped by nearly 0.2%, and the Dow Jones Industrial Average followed suit with a drop of around 0.4%. Meanwhile, the Nasdaq Composite, which is packed with tech stocks, managed to hold steady but finished just under the flatline.

πŸ›’οΈ Oil Prices Jump on Biden’s Comments
U.S. crude oil prices surged 5% on Thursday, marking a third straight day of gains, as concerns grew over a potential Israeli strike on Iran's oil industry following Tehran’s missile attack. President Joe Biden hinted at ongoing discussions but downplayed immediate action, saying, β€œThere’s nothing going to happen today.” Geopolitical tensions in the Middle East are the highest they've been since the Gulf War, fueling the price jump.

πŸ”₯ Nvidia stock rises as CEO Jensen Huang touts 'insane' chip demand
Nvidia stock surged up to 5% on Thursday after CEO Jensen Huang revealed that demand for its next-gen Blackwell chips has been "insane." Speaking with CNBC, Huang confirmed the chips are now in "full production," despite earlier design issues that delayed customer rollouts. He added, "Everybody wants to have the most and be first." Investors have been watching this rollout closely as a potential catalyst for recovery after Nvidia's recent stock slump.

πŸ’³οΈ Tackle your credit card debt with 0% interest until nearly 2026 (ad)
If you have outstanding credit card debt, getting a new 0% intro APR credit card could help ease the pressure while you pay down your balances. Our credit card experts identified top credit cards that are perfect for anyone looking to pay down debt and not add to it.

πŸ’°οΈ 3 Top Stocks That Could Still Rocket Higher in 2024
Investors eyeing quick, dramatic stock movements should look to the biopharmaceutical industry, where the FDA is reviewing key applications from three major drugmakers, with decisions expected by year-end. A positive outcome could send these stocks soaring.

Quick Links

Stocks
Investing
Business
  • Moderna fends off lawsuit over COVID shots (Reuters)

  • OpenAI's next step: Consider going public via IPO (Axios)

Our Recommendations:

πŸ’»οΈ MEXC - Where we find and trade Crypto with low fees.
πŸ“ˆ TradingView - Software we use to chart stocks.
πŸ” Trezor - Our favorite hardware wallet to keep our Crypto secure.
πŸ¦‘ Kraken - Where we buy crypto with cash / withdraw profit to our bank.

Share The Investing Journal with your friends to receive rewards!

πŸ‘€