European stocks rise and US stocks mixed as traders look to UK inflation figures

Pedro Goncalves has the latest information:

The darling of AI and technology investors rose in premarket trading as the company is set to report first-quarter fiscal 2025 results on May 22.

Wall Street is expecting Nvidia to deliver a stunning quarterly report on Wednesday, with the company's stock price near record highs as investors look for evidence that the AI ​​chipmaker can sustain its explosive growth and maintain its lead over competitors.

“A lot is riding on Nvidia's earnings. It's the most important stock in the sector,” Will Rhind, founder and CEO of GraniteShares, which runs an ETF that invests in the chip company, told Reuters.

For the second quarter, analysts are forecasting earnings growth of over 120% and revenue growth of almost 100%.

“We see enough room for NVDA to potentially deliver up to $26 billion in revenue in the first quarter (April) (data center ~$22-23 billion) and potentially total revenue of ~$27-28 billion (data center ~$25-26 billion) – both good enough to keep the stock higher in our view,” UBS analyst Timothy Arcuri wrote in a note to clients.

The stock will have risen by more than 86% in 2024 and more than 200% in the past year.

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