'The most important stock on planet Earth,' according to Goldman

'The most important stock on planet Earth,' according to Goldman
Wall Street firm's trading desk says this one stock's earnings could shake up financial markets.
FEB 21, 2024
By  Bloomberg

Nvidia Corp.’s earnings due Wednesday is such a big event in markets that Goldman Sachs Group Inc.’s trading desk has called it “the most important stock on planet earth.”

With options positioning implying about a 11% move in either direction, AI poster-child Nvidia could shake up financial markets given its influential weighting on indexes and crowded long positions in the stock. Just Nvidia alone has been responsible for one-third of the Nasdaq 100 Index’s gains this year.“Everyone is in the pool and there are positioning warning signs,” Goldman tactical specialist Scott Rubner wrote in a note to clients on Tuesday. “The bar is high, and by high I mean a big beat is expected.”Traders are bracing for more volatility after Nvidia tripled in value over the past year — pumped by an unrelenting artificial intelligence frenzy that’s propelled broader markets. Nerves are already running high, with the stock falling 4.4% on Tuesday, dragging megacap peers down with it. 

Latest News

LPL building out alts, banking services to chase wirehouse advisors, new CEO says
LPL building out alts, banking services to chase wirehouse advisors, new CEO says

New chief executive Rich Steinmeier replaced Dan Arnold on October 1.

Franklin Templeton CEO vows to "do what's right" amid record outflows
Franklin Templeton CEO vows to "do what's right" amid record outflows

The global firm is navigating a crisis of confidence as an SEC and DOJ probe into its Western Asset Management business sparked a historic $37B exodus.

For asset managers, easy experience is key to winning advisors' businesses
For asset managers, easy experience is key to winning advisors' businesses

Beyond returns, asset managers have to elevate their relationship with digital applications and a multichannel strategy, says JD Power.

Why retaining HNW clients ultimately comes down to one basic thing
Why retaining HNW clients ultimately comes down to one basic thing

New survey finds varied levels of loyalty to advisors by generation.

Stocks drop as investors digest Microsoft, Meta earnings
Stocks drop as investors digest Microsoft, Meta earnings

Busy day for results, key data give markets concerns.

SPONSORED Out with the old and in with the new: a 50% private markets portfolio

A great man died recently, but this did not make headlines. In fact, it barely even made the news. Maybe it’s because many have already mourned the departure of his greatest legacy: the 60/40 portfolio.

SPONSORED Destiny Wealth Partners: RIA Team of the Year shares keys to success

Discover the award-winning strategies behind Destiny Wealth Partners' client-centric approach.