Nvidia Week
Welcome to this week’s edition of 4 Customs Street, our weekly newsletter on the stock market.
The newsletter is divided into two parts:
Green White Green is focused on the Nigerian stock market.
Star-Spangled Banner is focused on the US stock market
Green White Green Last Week
The ANOH gas processing plant was commissioned by Bola Ahmed Tinubu GCFR on May 15, 2024. The ANOH Gas Processing Company (AGPC), an incorporated joint venture between Seplat Energy and NNPC Gas Infrastructure Company (NGIC) Limited, is delivering the ANOH gas plant with Phase One processing capacity of 300 mmscfd. Upon commencement of operations, the plant will deliver dry gas and LPG to customers in the domestic market.
Green White Green This Week
The Central Bank of Nigeria’s Monetary Policy Committee (MPC) meeting will be held on Monday and Tuesday. Expectations are that interest rates will remain unchanged. To be candid, there are valid arguments to raise the rates higher (since they are below inflation) as well as leaving unchanged (other drivers of inflation in Nigeria are structural factors such as bad roads, and insecurity).
After the meeting, the Governor will take questions from the press and share his thoughts on the economy and more specifically the banking space.
Star-Spangled Banner Last Week
Last week was a record-breaking one for the US equity space.
The S&P 500 broke above the 5300 mark for the first time. The Dow also broke above the 40,000 mark for the first time.
What was the key driver of this? Inflation numbers came in a bit lower than expected, lessening the likelihood of an interest rate hike, which would be negative for stocks.
Star-Spangled Banner This Week
All eyes are on Nvidia. The chipmaker will release its results for the most recent quarter this week.
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