CNBC Daily Open: Nvidia tripled its revenue. Investors weren’t impressed

Nvidia's revenue tripled
Nvidia's fiscal third-quarter revenue grew 206% year on year to $18.12 billion, handily beating expectations, and net income rocketed from $680 million to $9.24 billion. Moreover, Nvidia expects revenue for the current quarter to increase to $20 billion, an implied 231% growth. But Nvidia finance chief Colette Kress warned exports restrictions will cause sales to China to "decline significantly."

No mention of cuts
Federal Reserve officials think monetary policy must "be kept sufficiently restrictive," and made no mention of rate cuts, according to minutes of the Fed meeting from Oct. 31 to Nov. 1. Fed officials also project economic growth in the fourth quarter to "slow markedly" from last quarter's 4.9% increase in gross domestic product.

Streak broken
U.S. stocks fell Tuesday, snapping major indexes' winning streaks, as investors digested the Fed minutes. Asia-Pacific markets traded mixed Wednesday. Japan's Nikkei 225 climbed 0.4%, while China's Shanghai Composite fell around 0.3%. Separately, analysts think the U.S. and China have stabilized their relationship and might even "recouple," which corporations hope will reduce uncertainty.

Binance's CZ pleads guilty
Binance CEO Changpeng Zhao will step down from his role and plead guilty to criminal charges as part of a $4.3 billion settlement with the U.S. Department of Justice, according to court documents. Richard Teng, the company's former global head of regional markets, will be Binance's new CEO, said Zhao in a post on X, formerly Twitter. "I can't see myself being a CEO driving a startup again," Zhao added.

Israel-Hamas hostage deal
Israel and Hamas have agreed to a cease-fire that will happen in the next 24 hours, and which will last for at least four days, according to the Qatari government. In addition, 50 civilian women and children hostages currently held in the Palestinian enclave will be released, in exchange for a number of Palestinian women and children detained in Israeli prisons, the announcement said.

Temu, the U.S. arm of Chinese e-commerce giant Pinduoduo, has grown explosively in the U.S. The company sells a wide range of merchandise at a price lower than most retailers, which could spell trouble for them, according to Bank of America. These big-name retailers — in the U.S. and Europe — are most vulnerable to Temu's rise.