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Nvidia Earnings Help Turn the Screens Green

A good earnings report from Nvidia combined with some oversold technical readings had the market off to a good start on Thursday morning. Traders, however, were reluctant to chase the early strength, and the indexes reversed sharply and fell into negative territory at mid-day. The action was volatile and uneven, but was mainly a function of positioning in front of the personal consumption expenditure inflation report due out at 8:30 a.m. on Friday. Read More...

Reuters

Carvana’s net loss widens on cooling used car demand

Carvana, known for its automated car vending machines, allowed users to buy used cars online and offered home deliveries, which made it popular during the COVID-19 pandemic when people were confined to their homes. However, demand of used cars has cooled following an improved availability of new cars and as people look for alternative means to commute in an attempt to trim expenses with a higher interest rates. Carvana posted a fourth-quarter net loss of $806 million, or $7.61 per class A share, up from a loss of $89 million, or $1.02 per class A share, a year earlier.

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