KG's Take: NVDA Numbers Ahead, What to Watch

Market Overview - The market reaction to President Trump's State of the Union address was muted, with no significant changes observed in market levels [2][4] - Current market focus is on Nvidia's earnings and the overall technical patterns observed in recent weeks [3][6] Nvidia Earnings - Nvidia's earnings report is anticipated to show revenue around $65.6 billion, with year-over-year growth estimated between 68% to 70% [8][9] - The adjusted earnings per share estimate is $152, with data center sales projected at $60 billion, driven by hyperscalers [9] - Guidance from Nvidia is critical, especially regarding potential sales to China, which have not yet been reflected in current quarter results [10][12] - Recent Taiwan export data showed a 4.8% increase in electronics, indicating potential future sales for Nvidia [11][13] - Nvidia's stock has been trading within a range of $170 to $190, with a recent close above $190 being a key level to watch [14][15] Workday Performance - Workday reported adjusted earnings per share of $2.47, slightly above the expected $2.32, and revenue of $2.53 billion, beating expectations [20] - However, guidance on subscription revenue and margins fell short of market expectations, leading to downward pressure on shares [21][22] HPQ Performance - HPQ's revenue exceeded expectations at $14.44 billion, with adjusted earnings per share at 81 cents, surpassing the forecast of 77 cents [24] - Despite strong revenue, guidance was light, with concerns over declining margins and challenges in the printing business [26] S&P 500 Levels - Current levels for the S&P 500 are targeting 69.45% to the upside and 68.40% to the downside, indicating a wide range of potential movement [27] - The VIX is at 19.1%, suggesting an implied move of around 1.2% in either direction [27]