Investing.com - Here’s a preview of the top 3 things that could rock markets tomorrow
Bitcoin $8,000 in focus
Bitcoin surged to an all-time high of $7,899 on Wednesday, before paring gains, after the developers behind the SegWit2x upgrade – which would have led to split in the digital currency – announced that they were suspending plans for the upgrade.
"Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin's growth. This was never the goal of Segwit2x," a group of developers said in a note on Wednesday.
Investors are expected to monitor moves in bitcoin closely to assess demand for the digital currency now that a potential split in the underlying software supporting bitcoin has been averted.
Top tier US economic data on tap
In what has been subdued week on the economic calendar for top-tier data, the labor department will release its weekly data on the number of people who filled for unemployment insurance for the week ended Nov 4.
The Labor department is expected to show initial jobless claims rose by 2,000 to 231,000 for the week ended Nov 4.
Trading volumes in the dollar have been relatively subdued as investors await top-tier data for direction.
Nvidia to beat earnings expectations?
NVIDIA Corporation (NASDAQ:NVDA) is set to report earnings after US markets close tomorrow amid lofty investor expectations for both earnings and revenue growth for the third quarter.
Investors are likely to securitize the chipmaker’s revenues from its gaming business as upcoming blockbuster gaming titles such as Call of Duty: WWII and Star Wars Battlefield are expected to garner demand for Nvidia’s pascal-based graphics cards.
Nvidia’s data center business is also expected to be in focus as it represents the company’s fastest growing segment, posting double-digit growth over the past few quarters.
Analysts expect Nvidia to report earnings of 94 cents per share on revenue of $2.36 billion.