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Expectations running high for NVIDIA and the Nasdaq 100 futures this evening

After the US stock market close this evening one of the hottest stocks of the year to date will release their Q3 earnings reports. Expectations are running high on this, with some even forecasting up to a 10% beat on what are already high estimates. The broader consensus is for NVIDIA to show Q3 earnings of $16.18 billion, with an EPS of $3.37. NVIDIA is the fourth largest stock within the Nasdaq 100, behind Apple, Microsoft and Amazon, so its performance after the closing bell can have an impact on the Nasdaq futures. The results are due out some time around 9.20pm GMT. The Nasdaq 100 already enjoyed a very positive day yesterday, lifted by a record rise in Microsoft. Shares in NVIDIA have already risen massively this year, from a low of $142.65 at the beginning of January, to a record high of $505.48 yesterday evening. The stock closed last night at $504.09 (a record) and it is currently a little lower in the premarket this morning, right now at around 503.75. Naturally the Nasdaq 100 also closed at its best level of the year to date yesterday too. So, is it all priced in? Well, perhaps it is, but we shall see how the index fares on the opening this afternoon, currently priced at around 16,001
 

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