Investors are waiting for FOMC minutes and Nvidia's results

Publication of the minutes of the last FOMC meeting (so-called minutes) and quarterly results Nvidia These are the two most important events on Wednesday in the financial markets, which may determine the mood not only in the second half of the week, but in the case of Nvidia, they may even set the tone for events on Wall Street in the following weeks.

Investors are waiting for the FOMC

Tuesday's session on Wall Street, the first after a three-day long weekend in the USA  ended with inheritance. DJIA index it regressed only by 0,17%. to 38563,8 points, but the S&P500 fell by 0,6%. up to 4975,51 points, a Nasdaq Composite by 0,92 percent up to 15630,78 points

Investors were taking profits waiting for the news published today at 20:00 p.m "minutes" from the last FOMC meeting, which will shed some more light on the Federal Reserve's future monetary policy. First of all, they are waiting for Nvidia's financial results for the fourth quarter of the 2023/2024 financial year, published today after the Wall Street session. Nvidia is one of the hottest stocks on Wall Street right now. Given its importance in the AI ​​revolution, but also its large share in indexes, it will likely be the most closely followed financial report this earnings season on Wall Street.

US500 daily chart (S&P 500 Index CFD). Source: Tickmill

The market predicts improved results

On Tuesday, Nvidia's share price fell 4,32%. to $694,74, after setting a new all-time high of $746,11 last week.

Analysts forecast that Nvidia generated $4,64 in earnings per share in the last quarter, with revenues of $20,55 billion. Not only the results will be important, but also their forecasts for the next quarter. He estimates that in the first quarter of the 2024/2025 financial year, Nvidia will generate $4,96 in profit per share, and its revenues will increase to $21,93 billion.

"Minutes" FOMC and Nvidia's results are the main events on Wednesday in the markets, but not the only ones. Today, the February PMI indices for Australia will be published, API data on changes in fuel stocks will arrive from the USA, and data on construction and assembly production and consumer sentiment from Poland.