Stocks are more than halfway through the week and major indices are higher

The major US stock  indices IndicesStock market indices represents an index that measures a particular stock market or a segment of the stock market. These instruments are important i…Read this Term are all closing higher on the day. Moreover, the indices are also higher on the week with 2 days left to go. When the S&P and NASDAQ index are down for 7 consecutive weeks and the Dow is down for 8 consecutive weeks, closing with a positive week is a big thing.

The final numbers are showing:

  • Dow Jones, +191.66 points or 0.6% at 32120.27
  • S&P index up 37.25 points or 0.95% at 3978.74
  •  NASDAQ  index up 170.3 points or 1.51% at 11434.75
  • Russell 2000 rose 34.33 points or 1.95% at 1799.16

After the close Snowflake revenues beat but earnings-per-share were much weaker than expectations:

  • Revenues $422.4 million vs. $412.8 million estimate revenues are up 85% year on year
  • Earnings-per-share -$0.53 vs. $0.01 estimate

Although the revenues are up strongly and yoy sales gains are impressive at +85%, companies that don’t make any money are having a tough time. Shares of Snowflake are down -11% in after-hours trading.

Nvidia are expected to be released at 4:20 PM ET with earnings expected at $1.29/$0.67 GAAP on revenues of a $8.12 billion

UPDATE Nvidia:

  • EPS $1.36 vs $1.29
  • Rev 8.29B vs 8.12B estimate
  • Guidance for Revenue is $8.10B vs $8.44B est.
  • Shares are down -7%
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