Asian and American indices are mixed and oil is falling against the backdrop of the progress of the American Iranian talks

Asian and American indices are mixed and oil is falling against the backdrop of the progress of the American-Iranian talks: The White House stated that US President Joe Biden and German Chancellor Olaf Schulz discussed the Ukrainian crisis and looked at strengthening the eastern presence of NATO in the event of Russia’s invasion of Ukraine.

Evest follows market developments in the following report.

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Mixed indices in Wall Street and Asia

Asian indices

Nvidia breaks the previous quarter’s record in terms of revenue

Oil declines amid progress in US Iran talks

The positive movement in the talks between the United States and Iran

Mixed indices in Wall Street and Asia

US stock indices ended trading on Wednesday without a single trend.

Traders analyze the minutes of the January Fed meeting.

The Dow Jones Industrial Index fell by 54.57 points (0.16%) at the close of trading to 34934.27 points.

Standard & Poor’s 500 rose by 3.94 points (0.09%) to 4475.01. The Nasdaq Composite Index lost 15.66 points (0.11%) to 14124.09.

The Fed is preparing to consider raising interest rates further this year along with another monetary policy tightening if inflation remains high,
according to a protocol published on Wednesday evening.

While members of the Federal Open Market Commission (FOMC) continue to predict a year-round inflation slowdown as monetary policy tightens,
many believe more crackdowns will be required if the situation turns out to be the opposite.

On Wednesday, the market also focused on the geopolitical situation in Eastern Europe.

In the meantime, investors analyzed the latest statistical data from the United States.

The Department of Commerce stated that retail sales in the country jumped 3.8% in January compared to the previous month.

Analysts surveyed by Bloomberg, as well as economists who took part in the Trading Economics poll, predicted an average 2% increase in the index. On an annual basis,
total retail sales in the country rose by 13% last month after jumping by 16.7% the previous month.

Industrial production in the United States increased in January by 1.4% compared to the previous month, according to Federal Reserve Board data.

Experts surveyed by Wall Street Journal predicted an average 0.5 % increase. Participants in Trading Economics predicted a 0.4% rise.

In December, industrial production in the United States fell by 0.1%. Industrial production rose in annual terms by 4.1% after rising by 3.8% in December.

Asian indices

In Asia, stock indices mixed slightly on Thursday, with Australia’s S & P/ASX 200 rising by 0.56%, China’s Shanghai Composite by 0.32%,
Hong Kong’s Hang Seng by 0.29%, South Korea’s KOSPI by 1.44% and Nikkei by 1.44%.

Nvidia breaks the previous quarter’s record in terms of revenue

US graphic processing unit manufacturer Nvidia Corp ended the fourth quarter of fiscal 2022,
with record-breaking revenue for the previous quarter that was above market expectations.

Net income for the quarter ended January 30 more than doubled to $3 billion, or $1.18 per stock,
from $1.46 billion, or 58 cents per stock, according to a company press release.

Compared to a similar period in the previous year, adjusted profits rose to $1.32 per stock from 78 cents.

Revenue jumped 53% to a record $7.64 billion from $5 billion last year. The index broke the previous quarter’s record of $7.1 billion.

Analysts surveyed by FactSet projected average adjusted profits of US $1.23 per share on earnings of US $7.42 billion.

The company itself projected an average revenue of $7.25 billion to $7.55 billion in November.

The company’s data center division increased its revenue in the last quarter by 71% to $3.26 billion,
while the gaming business revenue rose by 37% to $3.42 billion,
in both cases the previous quarter’s records were also broken. Experts estimated it to be $3.18 billion and $3.36 billion, respectively.

However, Nvidia noted that supply chain problems, global semiconductor shortages and manufacturing capacity ,
are expected to be an obstacle for the company this year.

Nvidia plans to generate revenue in the region of $ 7.94- 8.26 billion in the first fiscal quarter, while forecasts are $ 7.31 billion.

Nvidia stocks fell by 2.7% in additional trading. Over the past 12 months,
the company’s capitalization increased by 73% (to $662.38 billion), while Standard & Poor’s added only 14%.

Oil declines amid progress in US Iran talks

Oil prices declined on Thursday amid growing optimism that the United States and Iran will soon be able to reach an agreement that will return Iranian oil to the world market.

Tehran’s chief negotiator, Ali Bagheri Kani, tweeted the previous day that the two parties were “closer than ever to an agreement” in talks on Iran’s nuclear program.

Iran is also preparing for Asia’s official return to the oil market, according to Bloomberg, representatives of the state-owned National Iranian Oil Company.

A meeting was held with South Korean refineries to discuss potential supplies.

The Brent mix fell to $93.16 per barrel after a sharp decline in prices the previous day.

The positive movement in the talks between the United States and Iran

“The positive movement in the talks between the United States and Iran is aimed at calming the oil market to some extent.

Although there is still no agreement, prices are being reduced by news of progress in the negotiations and expectations,
that this will allow oil to return to the market in quantities up to 900 thousand barrels per day by December,” said Claudio Galimberti, Senior Vice President of Rystad Energy.

The April futures price for Brent crude on London Futures Exchange is $93.65 per barrel, $1.16 (1.22%) lower than the closing price of the previous session.

As a result of Wednesday’s trading, these futures rose by $1.53 (1.6%) to $94.81 per barrel.

The price of West Texas Intermediate crude futures for November in electronic trading on the New York Mercantile Exchange (NYMEX) is $92.39 per barrel,
which is $1.27 (1.36%) lower than the final value of the previous session. On Wednesday, the cost of these futures rose by $1.59 (1.7%) to $93.66 per barrel.

The previous day, oil prices rose against the backdrop of ongoing concerns in the West about a possible escalation of the conflict over Ukraine,
despite data from the US Department of Energy showing an unexpected increase in US inventories.

On the other hand, oil reserves in the United States rose for the week ending February 11 by 1.12 million barrels,
while analysts expected inventories to decline by an average of 2.17 million barrels.

Asian and American indices are mixed and oil is falling against the backdrop of the progress of the American-Iranian talks

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