Nvidia to the rescue
Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com
NVIDIA TO THE RESCUE (0630 GMT)
A two-day European selloff looked set to pause on Thursday as stellar numbers from semiconductor heavyweight Nvidia NVDA.O brought relief to markets concerned over the lack of progress in U.S. debt ceiling talks and new signs of sticky inflation in Europe.
After a jump in UK core inflation contributed to push the region wide STOXX Europe 600 benchmark into its worst day in two months, index futures pointed to slight gains in the day ahead.
Derivative contracts on the EuroSTOXX50 and FTSE were up 0.1-0.2%.
Nasdaq futures rallied 1.4% while Frankfurt-listed Nvidia shares advanced 23%. The world's most valuable listed semiconductor company forecast Q2 revenue over 50% above Wall Street estimates. It said it is boosting supply of artificial-intelligence chips to meet surging demand.
The Nvidia beat was expected to boost European chip stocks such as ASM ASMI.AS, ASML ASML.AS, Be Semi BESI.AS, Infineon IFXGn.DE and Siltronic WAFGn.DE. Traders also pointed to positive reaction in insurer Generali GASI.MI and ingredients maker Tate & Lyle TATE.L following results.
Placements in audio solutions firm GN Store GN.CO and health and nutrition group DSM-Firmenich DSFIR.AS were set to hit their shares at the open.
(Danilo Masoni)
*****
FITCH PUTS US ON WATCH; WILL IT MATTER IN WASHINGTON?(0554 GMT)
The U.S. debt ceiling saga continues to hang over global markets, with the White House and Republicans both citing progress in the latest round of talks but no breakthrough yet.
Ratings agency Fitch opted not to wait, placing the country's "AAA" rating on watch for a possible downgrade - the first major agency to do so. That could raise the stakes in protracted negotiations as the June 1 "X-date" looms - or policymakers in Washington might simply choose to ignore it.
The ratings watch has given a further boost to U.S Treasury yields and the greenback, with the dollar index =USD notching new trend highs while Japan's yen hit its lowest since Nov. 30 and the euro and sterling are sitting on major chart support.
Two-year Treasury yields have also extended to highs not seen since mid-March, while the yield on Treasury bills maturing in early June climbed further above 7%.
Stock markets across Asia are in the red, apart from Japan's effervescent Nikkei, although S&P E-mini and Nasdaq futures have bounced after a strong revenue forecast from Nvidia Corp NVDA.O.
Europe's data calendar is fairly light, with German final Q2 GDP the main release. However, there are plenty of central bank speakers, with comments from Bundesbank head Joachim Nagel and ECB chief economist Philip Lane likely to draw the most interest.
Bank of England monetary policy committee member Jonathan Haskell's speech in Washington will also be watched after UK price data again surpassed expectations on Wednesday. That left Governor Andrew Bailey fretting about "sticky and stubborn" inflation while markets priced in further policy tightening.
Expectations of a Federal Reserve rate hike in June also continued to creep up, even after the May 2-3 meeting minutes showed little consensus on the need for further increases.
Key developments that could influence markets on Thursday:
German final Q1 GDP and June GfK consumer sentiment
Bundesbank chief Nagel, ECB's Lane and de Guindos, and BoE's Haskell speak
U.S. weekly jobless claims and second estimate of Q1 GDP
Earnings: Dollar Tree, Ralph Lauren and Gap
(Sonali Desai)
*****
A tale of two debt-limit standoffs, 2011 and 2023 https://tmsnrt.rs/3Mzqmq6
Actifs liés
Dernières actualités
Avertissement : Les entités de XM Group proposent à notre plateforme de trading en ligne un service d'exécution uniquement, autorisant une personne à consulter et/ou à utiliser le contenu disponible sur ou via le site internet, qui n'a pas pour but de modifier ou d'élargir cette situation. De tels accès et utilisation sont toujours soumis aux : (i) Conditions générales ; (ii) Avertissements sur les risques et (iii) Avertissement complet. Un tel contenu n'est par conséquent fourni que pour information générale. En particulier, sachez que les contenus de notre plateforme de trading en ligne ne sont ni une sollicitation ni une offre de participation à toute transaction sur les marchés financiers. Le trading sur les marchés financiers implique un niveau significatif de risques pour votre capital.
Tout le matériel publié dans notre Centre de trading en ligne est destiné à des fins de formation / d'information uniquement et ne contient pas – et ne doit pas être considéré comme contenant – des conseils et recommandations en matière de finance, de fiscalité des investissements ou de trading, ou un enregistrement de nos prix de trading ou une offre, une sollicitation, une transaction à propos de tout instrument financier ou bien des promotions financières non sollicitées à votre égard.
Tout contenu tiers, de même que le contenu préparé par XM, tels que les opinions, actualités, études, analyses, prix, autres informations ou liens vers des sites tiers contenus sur ce site internet sont fournis "tels quels", comme commentaires généraux sur le marché et ne constituent pas des conseils en investissement. Dans la mesure où tout contenu est considéré comme de la recherche en investissement, vous devez noter et accepter que le contenu n'a pas été conçu ni préparé conformément aux exigences légales visant à promouvoir l'indépendance de la recherche en investissement et, en tant que tel, il serait considéré comme une communication marketing selon les lois et réglementations applicables. Veuillez vous assurer que vous avez lu et compris notre Avis sur la recherche en investissement non indépendante et notre avertissement sur les risques concernant les informations susdites, qui peuvent consultés ici.
