US stocks have extended their fall with the NASDAQ index now down 1% on the day. The Dow industrial average is down -0.88% and the S&P index is down -0.69%.
Shares of Nvidia are down -2.45% at $139.95 after extending to a new all-time high price at $144.42 during yesterday’s trading. Since the August 5 low at $90.69, the price has rebounded 54.20%. Nvidia does not release its earnings until November 20.
On October 3, Nvidia CEO Jensen Huang said in an interview with CNBC’ that demand for the company’s next-generation artificial intelligence chip Blackwell is “insane.”.. Since then shares are up 16.21%..
McDonald shares are trading down $15.39 or -4.89% at $299.40. The price action today took the shares below its 50 day moving average at $296.63. That also took the price into negative territory for the year ($296.51 was the end of year closing level). The low price today reached $290.83. The balance back has taken the price back above its 50-day moving average and back into positive territory for the year. Watch the $296 level going forward.
This article was written by Greg Michalowski at www.forexlive.com.
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