TheStreet’s J.D. Durkin brings you the biggest news of the day, including Nvidia’s huge earnings report and why some companies are taking their ads off of X.
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00:00 I'm JD Durkin reporting from the New York Stock Exchange and here is a look at what
00:03 we are watching on the street today.
00:06 Stocks snapped a five-day winning streak Tuesday after the Federal Reserve indicated it may
00:10 need to keep interest rates higher for longer, with no hints of any rate cuts in the near
00:15 future.
00:16 Markets are still pricing in a 30% chance of rate cuts as soon as March.
00:21 Meanwhile, investors are reacting to a blowout earnings report from Nvidia.
00:25 The company saw its revenue triple as demand for its AI chips continues to boom.
00:30 But the company is wary just a bit moving forward.
00:33 The chipmaker warned of a potential negative impact next quarter due to China's export
00:38 restrictions.
00:39 In other news, at least a half a dozen companies have halted their ad spending on Elon Musk's
00:44 X.
00:45 Big names including IBM, Disney, Paramount and Paris Hilton's media company have all
00:50 suspended ads on the platform.
00:53 And while not all of the organizations are specifying their reasoning for suspension,
00:58 the moves come after concerns arose over pro-Nazi content on X, as well as Elon Musk seeming
01:04 to be in favor of an anti-Semitic conspiracy theory on the platform.
01:08 Additionally, the National Football League says it is "aware of instances of hate speech
01:13 on X and have expressed our concerns directly to X both in the past and again in the last
01:19 few days."
01:20 As for Elon Musk, X has now filed a lawsuit against non-profit Media Matters over what
01:25 the CEO calls an "intentionally deceptive report" about anti-Semitism on the platform.
01:31 That will do it for your daily briefing.
01:32 From the floor of the New York Stock Exchange, I'm JD Durkin with The Street.
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