
Stock futures climbed earlier on Thursday after Nvidia’s strong quarterly results boosted confidence in tech and AI names. Dow futures rose 0.5%, S&P futures gained 1%, and Nasdaq 100 futures jumped 1.5%.
Nvidia shares surged nearly 5% after hours following another earnings and revenue beat, along with a powerful Q4 sales outlook. CEO Jensen Huang said demand for its Blackwell chips is off the charts, which lifted sentiment across the AI sector and pushed other chip and infrastructure stocks higher.
EPS (Earnings per Share) came in at $1.30 (vs. $1.25 expected) and revenue hit $57.01B (vs. $54.92B expected). Net income soared 65% to $31.91B.
Meanwhile, Fed minutes showed sharp divisions among policymakers over the next rate move. Traders now see only a 30% chance of a December cut. The Federal Reserve’s October meeting minutes show major divisions among officials over whether to continue cutting interest rates. While the FOMC approved a quarter-point cut to 3.75%–4%, members were split on the path forward. Many officials favored keeping rates unchanged for the rest of 2025. Miran, Waller, and Bowman want more cuts to support the weakening labor market.
Investors are now awaiting Thursday’s release of the delayed September nonfarm payrolls report.
Higher chances of keeping interest rates unchanged in December pushed the USD higher. The Dollar index broke above the psychological level 100.00 again, and it’s currently at 100.26
Major currencies were under pressure, thanks to a stronger dollar. EURUSD has fallen 0.60% since yesterday, reaching 1.1520. And GBPUSD is currently trading at 1.3060, down 0.6% since yesterday.
In the commodities market, gold traded sideways, with prices ranging between $4,000 and $4,100 in the past two days. Silver remains above $51 per ounce.
In the crypto market, bitcoin is facing major support at the $90,000 level with renewed buying interest at major psychological levels. Ethereum is also back above $3,000 after falling briefly to $2,875.
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