Nvidia (NVDA) – GTC DAY
NVIDIA GTC 2026 will take place from March 16th to 19th in San Jose, CA. The developer event will open with a keynote presentation by NVIDIA co-founder and CEO Jensen Huang.
Analysts expect the event to bring deeper insight into the state of Nvidia’s business, its chip and software roadmaps, and to offer a look at upcoming products and services.
This event has become Huang's preferred event to show advances at the firm. This year, the event is more crucial as investors seek assurances that Nvidia's strategy of ploughing back profits into the AI ecosystem is paying off, and after the firm has been on a dealmaking spree.
According to the Wall Street Journal, Nvidia will introduce a new processor for AI inferencing, incorporating technology licences from AI startup Groq and will be more energy efficient than Nvidia’s GPUs. OpenAI has agreed to become one of the largest customers of its new processor.
The market will also be watching for commentary on how geopolitical tensions, including the recent Middle East conflict, could impact energy costs and demand.
NVDA- technical outlook
NVIDIA trades above its rising trendline. The price reached a record high of 212 before easing back and consolidating around the 50 SMA at 185. While the longer-term uptrend holds, buyers will look to push above the 50 SMA and 197, the February high, to extend gains towards 212 and fresh record highs.
Support is seen at 177, the 200 SMA and the rising trendline. A break below here opens the door to 171, the February low and 165, the September low.
Carnival (CCL) – Earnings in Focus
Carnival reports earnings on Friday before the U.S. open and is expected to post Q1 EPS of $0.18 on revenue of $6.13 billion.
The cruise operator’s share price has fallen around 22% over the past month, weighed down by rising fuel costs and travel disruptions linked to the Middle East conflict. With oil prices near $100 a barrel, investors are increasingly concerned about margin pressure across the travel sector.
Travel stocks have broadly sold off in recent weeks as geopolitical tensions and rising energy prices threaten demand and profitability. As such, guidance and forward-looking commentary will likely be more important than the headline results.
In the previous quarter, reported December 19, Carnival delivered EPS of $0.34, beating expectations, while revenue came in at $6.33 billion, slightly below the $6.38 billion forecast.
CCL – Technical outlook
Carnival ran into resistance at 33.9 (February high) before rebounding lower. The share price has broken below several support levels, although the RSI is now in oversold territory, suggesting a possible period of consolidation.
A break below the 2026 low at 23.50 could extend losses toward 21.50.
A recovery would need to reclaim 28.70 (200-day SMA) to stabilise the outlook.
JPMorgan (JPM) – Banks in Focus Ahead of Fed Decision
U.S. banks remain in focus ahead of the Federal Reserve rate decision, where policymakers are widely expected to keep rates unchanged at 3.50–3.75%.
Market attention will instead centre on the Summary of Economic Projections and the dot plot for clues on how the Fed expects surging oil prices to impact growth and inflation.
Recent economic data showed U.S. Q4 GDP growth was revised down to 0.7% from 1.4%, while core PCE inflation—the Fed’s preferred gauge—rose to 3.1% from 3%.
However, these figures predate the recent spike in energy prices following the Iran conflict, raising concerns about a potential stagflationary shock.
Bank stocks have underperformed this week as investors worry about the economic impact of higher energy prices. In addition, emerging concerns around private credit stress could weigh on sentiment.
JPM – Technical outlook
After hitting a record high of 335 earlier this year, JPMorgan has trended lower, breaking below its rising trendline, 50-day SMA, and 200-day SMA before stabilising near 280.
A break below 280 could trigger a deeper move toward 265, followed by 250.
With the RSI below 50, momentum currently favours the downside.
Any recovery would need to retake the 200 SMA and horizontal resistance at 300.
BP – Oil Volatility Drives Energy Stocks
Energy stocks remain firmly in focus as oil prices continue to drive market direction.
Despite heightened volatility, crude is up around 3% this week, following a 35% surge last week, as the Strait of Hormuz remains effectively closed.
The key question for markets is how long the conflict will last. A prolonged disruption could push oil prices significantly higher, supporting energy stocks such as BP.
However, any signs of de-escalation could quickly reverse the rally, particularly after the IEA announced a record 400-million-barrel strategic reserve release, while the U.S. has temporarily eased sanctions on Russian oil for 30 days.
Meanwhile, U.S. gasoline prices have already risen around 20% since the conflict began, potentially increasing political pressure on Washington to stabilise energy markets.
BP – Technical outlook
BP has been in a strong uptrend since April last year, trading above its rising trendline, 50-day SMA, and 200-day SMA, and recently reached a record high at 539.5.
However, the appearance of a Doji candlestick suggests momentum may be fading, particularly with the RSI in overbought territory.
A move above 539.5 would confirm a higher high and open the door to fresh record levels.
Support lies around 513 and 500, the key psychological level.
