Nvidia's (NVDA +2.98%) chip stocks have experienced a significant surge, with the company surpassing earnings expectations and offering an impressive guidance that has captured the attention of many industry experts. This surge reflects the growing excitement surrounding AI-based technologies and stocks, which are seen as having immense growth potential.
JPMorgan's (JPM +0.81%) acquisition of First Republic Bank is yielding positive results, with an expected $3 billion increase in net interest income this year. While some layoffs occurred, the majority of employees were offered roles, showcasing the bank's commitment to supporting its workforce during the transition.
DLocal Limited (DLO -17.39%) a global payments platform, dismisses misleading allegations regarding non-compliance with expatriation rules in Argentina. The company emphasizes its adherence to government regulations and engagement with regulatory authorities. DLocal remains committed to delivering excellent service and focusing on providing comprehensive solutions for its global merchants.
Ulta Beauty (ULTA -13.16%) stock dropped sharply after reporting lower earnings and reduced margin expectations. The charts show continued weakness, with the stock trading below key moving average lines.
WHAT ELSE HAPPENED
The US stock market is experiencing a positive end to the week, with the news of the White House and congressional Republicans nearing an agreement to raise the government's debt ceiling. This development alleviates concerns about a potential default on debt obligations.
Bank of America's raised price target for the S&P 500 reflects a modest but steady increase, and valuations are considered reasonable.
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