Nvidia's Blackwell, FOMC, Bank of Japan: 3 things
During Nvidia's (NVDA) GTC event on Monday, CEO Jensen Huang announced the company's next generation "Blackwell" GPU architecture. He also revealed the company's new GB200 processor, referring to it as the world's most powerful chip.
Stock Futures are trading lower on Tuesday morning as the Federal Open Market Committee (FOMC) begins its two-day policy meeting, with many on Wall Street expecting the committee to make no changes to interest rates. Investors eagerly await the Fed Dot Plot, which outlines how Fed leadership expects interest rates to be cut going forward.
The Bank of Japan has raised borrowing costs for the first time in 17 years. Japan has finally ended 8 years of negative interest rates by setting a new policy rate between 0-0.1%.
Yahoo Finance Reporters Dan Howley, Josh Schafer, and Akiko Fujita break down the latest developments.
For more expert insight and the latest market action, click here to watch this full episode of Yahoo Finance Live.
Editor's note: This article was written by Nicholas Jacobino
Video Transcript
SEANA SMITH: So let's get right to it. The three things that you need to know, your roadmap for the trading day. "Yahoo Finance's" Dan Howley, Josh Schafer, and Akiko Fujita have more.
DAN HOWLEY: Nvidia is looking to hold on to its lead in the AI race. CEO Jensen Huang took the wraps off the company's new Blackwell GPU architecture here in San Jose during its GTC Conference yesterday. Huang also took the wraps off of the company's new GB200 processor. Something Huang says, it's the world's most powerful chip.
JOSH SCHAFER: And stock futures edging lower this morning as the Federal Reserve kicks off its two-day policy meeting. With inflation still running well above the Fed's 2% target, the Fed is not expected to cut interest rates in March, when it ends its two-day meeting on Wednesday.
Investors will, however, be eager to digest the Fed's latest dot plot, which will signal whether the central bank officials still agree that three interest rate cuts are likely in 2024.
AKIKO FUJITA: And the Bank of Japan raising borrowing costs for the first time in 17 years. Japan ending eight years of negative interest rates by setting a new policy rate between 0% and 0.1%.
The Japanese yen sliding against the dollar on the news this morning, as global markets brace for the ripple effects from the BOJ's tightening.
