Nasdaq Composite Live: Futures Tick Higher Ahead of Key Inflation Data
Key Points
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Later this week, we’ll also get market-moving inflation data. The Consumer Price Index (CPI) will be released tomorrow.
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Analysts at JPMorgan raised their price target on CRWV heading into earnings after the bell.
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Wells Fargo just reiterated its overweight rating on Nvidia
Wells Fargo just reiterated its overweight rating on Nvidia, raising its price target to $220 ahead of earnings. “With strong intra-qtr demand data points + reports of approved licenses to resume H20 sales into China, we increase our ests (above street) ahead of NVDA’s upcoming (8/27) F2Q26 print,” as quoted by CNBC.
This also follows news that Nvidia and Advanced Micro Devices agreed to give part of their revenue from certain chips sold in China – in exchange for export licenses, as reported by CNBC. “In exchange for 15% of revenues from the chips, the two chipmakers will receive export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the FT,” as reported by CNBC.
Shares of Intel Jump on White House News
Shares of Intel jumped about 3% ahead of Intel Chief Executive Lip-Bu Tan’s visit to the White House on Monday. This comes just days after President Trump called for his resignation over ties to Chinese businesses.
As noted by Fox Business, “A month after Tan was tapped to lead the company, Reuters reported that Tan had invested in hundreds of Chinese companies – some of which had links to the Chinese military. He also invested hundreds of millions in Chinese advanced manufacturing and chip firms between March 2012 and December 2024, Reuters reported. A source told Reuters earlier this year that Tan had divested from his positions, though the extent of his divestitures wasn’t clear.”
The Nasdaq is pushing even higher, as we head into key inflationary data this week.
Up about 22 points to 23,735.25, it’s nearing all-time highs.
One of the biggest reasons the tech-heavy index isn’t higher is because of news that Nvidia and Advanced Micro Devices agreed to give part of their revenue from certain chips sold in China – in exchange for export licenses, as reported by CNBC. “In exchange for 15% of revenues from the chips, the two chipmakers will receive export licenses to sell Nvidia’s H20 and AMD’s MI308 chips in China, according to the FT,” as reported by CNBC.
Still, Wells Fargo believes this will be a positive for Nvidia, raising its price target to $185 with an overweight rating on the stock.
“We would assume NVDA can recapture the full $8B/qtr revenue impact the H20 China ban was expected to have on the F2Q26 (July) qtr by F4Q26 (Jan),” analysts added. “We would expect China demand to grow from the $8B/qtr level going forward.”
Markets Waiting on Market-Moving Inflation Data
Later this week, we’ll also get market-moving inflation data. The consumer price index (CPI) will be released tomorrow. The producer price index (PPI) will be released on Thursday. Both will be critical with what happens with the Federal Reserve and interest rates.
JP Morgan Just Raised Its Price Target on CoreWeave
This morning, analysts at JPMorgan raised their price target on CRWV heading into earnings after the bell. The firm raised its price target to $145 from $66, with an overweight rating.
“Our sense is that CoreWeave’s opportunities are going to get bigger and lumpier, likely to the surprise of investors, though we are not making a specific call on the upcoming Q2 results as it is likely a futile exercise to speculate on the closing of specific deals and investors should in fact expect extreme lumpiness in CoreWeave’s pattern of large bookings,” the analysts said, as also quoted by CNBC.
Bitcoin Broke Above $122,000 Earlier Today
Exploding even higher, Bitcoin briefly tested $122,000.
While it’s pulling back, analysts still believe it could test $125,000 near term.
Helping, The White House recently unveiled a 160-page blueprint that’s considered to be “the most comprehensive piece of work on digital assets that’s ever been produced,” as noted by ABC News. With it, the President has ordered his Administration to supercharge the crypto industry, rolling back regulatory blockades, and pushing forward legislation that could broaden the accessibility and appeal of Bitcoin.
The White House added, “By implementing these recommendations, policymakers can ensure that the United States leads the blockchain revolution and ushers in the Golden Age of Crypto.”
The White House also signed an executive order that will make it easier for Bitcoin and other cryptocurrencies to be included in 401(k) retirement accounts.
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