A Silver Tsunami

Hi, today we're exploring: (1) Nvidia's incoming earnings, (2) The new wave of retirees in the US, (3) Walmart's advertising ambitions. Today's Topics Good morning! The world’s tallest man and the world’s shortest woman [reunited]( in California this week after 6 years — but their heights remained over 6ft apart. Today we explore: - Nviable earnings: Nvidia is the company of the moment. - Silver tsunami: Rising retirement rates, as a record number of Americans are set to turn 65. - Ad-ditional income: Walmart is looking to grow its ad business. Have feedback for us? Just hit reply — we'd love to hear from you! [Read this on the web instead]( All eyes on me Investors will intensely scrutinize the results of Nvidia after market close today, as one of the most hotly-anticipated releases in recent history will reveal whether the chip giant can build on its stunning 2023 — with analysts [expecting]( more than $20 billion in quarterly revenue (the company did ~$6 billion in the same period 12 months ago). Last year, the company rode the wave of AI hype, with its Data Center division reporting quarter after quarter of growth as demand for its GPUs to train AI models skyrocketed. That took Nvidia to the coveted $1 trillion market cap club and, so far this year, the company — or at least the stock — has picked up right where it left off, with a buying frenzy sending it to more than $1.7 trillion, surpassing both Alphabet and Amazon within 24 hrs. Mood setter Nvidia has fast become the pacemaker for equity investors, with moves in its stock highly correlated with shifts in the wider market: if Nvidia shares are having a good day, chances are the rest of the market is too. Nvidia’s stock has risen more than 2% on 29 days over the last 6 months; on 25 of those days — or 86% of the time — the S&P 500 has also risen. Expectations for Nvidia are still seriously high, but, as our friends at [Snacks put it]( the easy days may be over, with rivals Intel and AMD announcing their own AI chips to compete with Nvidia in recent months. Twilight zone With markets rising, [consumer confidence]( holding up, and a wave of companies enforcing return-to-office mandates, for many Americans, it seems like the perfect time to finally hang up their hats. Indeed, the US recorded 2.7 million more retirees in December than were predicted in models from economists at the St. Louis Federal Reserve, as reported by [Bloomberg](. The recent upswing mirrors the ‘Great Retirement’ wave of 2020, when the pandemic saw the [actual share of retirements]( swell and the labor force participation rate fall by 3.2% in the space of 2 months, the largest drop on record. However, rather than a deadly virus, what’s driving a significant portion of today’s retirees seems to be bolstered [401(k) balances](. Silver tsunami With many already enjoying their golden years, a record 4.1 million people are set to [celebrate their 65th]( birthday in the US in 2024 — as the mid-century baby boom ripples into a wave of present-day pensioners, dubbed the ‘silver tsunami’. But, while there has been a spike in retirees, many in the older age group aren’t looking to stop working any time soon. Indeed, over a longer time frame, the proportion of Americans aged 65+ who are employed has actually risen. A [Pew Research study]( found that, almost 40 years ago, ~11% of Americans aged 65+ were working; today, it’s 19%... so there might still be a couple of years before the US hits peak retirement. Anything you can do... With all-time-high [e-commerce sales]( plans to expand its [drone delivery]( service, and continued efforts to boost its burgeoning advertising business, Walmart is beginning to look a little more like Amazon with each passing day. However, the brick-and-mortar behemoth still has some way to go on all 3 fronts: its global ad business, for example, was up some 28% to $3.4 billion last year, but remained just a fraction of its e-com competitor, which hauled in a staggering $14.7 billion in Q4 alone. Ad-ditional income Walmart execs will be hoping that the [newly-announced]( $2.3 billion acquisition of smart TV maker Vizio will accelerate its ad offering. The retailer sees the deal as an opportunity to offer its customers “innovative television and in-home entertainment and media experiences”, while combining with its media arm, Walmart Connect, to help partner brands “[realize greater impact]( from their advertising spend. Although Walmart only recognized $3.4 billion in advertising revenue last year (less than 1% of total sales), ads are an exciting proposition because the margins in the division are a completely different ballgame than in its legacy retail business ([chart](. In fact, Walmart's CFO has predicted that the company’s future profitability [might rely]( more on ads and services than its enormous retail empire. More Data • Point in time: Historians have found that the [decimal point]( is actually 150 years older than previously thought, tracing back to an Italian mathematician in the 1440s. • A study has found that [Argentina's poverty rate]( hit 57% in January — the highest level in 20 years. • Capital One is [buying rival Discover Financial]( uniting 2 of America’s biggest credit card companies in an all-stock tie-up worth more than $35bn. • Sunday night's [NBA All-Star game]( broke the record for most points scored in the league’s 73-year history: 397, up from the previous record of 374 set in 2017. • NASA is seeking 4 volunteers to spend an entire year on a [simulated Mars mission]( in a 3D-printed, dune-like habitat. Hi-Viz • Talking heat: A range of useful charts about climate change from [reliable sources](. • Bulk on a budget: [Mapping out]( protein density vs. cost per gram of protein for different foods. Off the charts: Wildfire season is reportedly starting [even earlier]( this year in what nation, which saw ~18 million hectares ravaged by record-breaking blazes [in 2023]( [Answer below]. [Answer here](. Thanks for stopping by! Have some [feedback](mailto:daily@chartr.co?subject=Feedback&body=Hi%2C%0A%0AI%20like%20the%20newsletters%2C%20but%20I%20had%20a%20thought%20for%20you...) or want to [sponsor]( this newsletter? Not a subscriber? Sign up for free below. [Subscribe]( Copyright © 2024 CHARTR LIMITED, All rights reserved. You are receiving this email because you opted in via our website. Our mailing address is: CHARTR LIMITED 231 Vauxhall Bridge RoadLondon, SW1V 1AD United Kingdom [Add us to your address book]( Don't want charts in your inbox anymore? Break our hearts and [unsubscribe](.