Web Trader MT5 
Nvidia shares jumped more than 4% after the chipmaker beat expectations, with quarterly revenue more than doubling and exceeding forecasts by the largest margin in two years. In early trading today, US stock futures rose sharply as investors reacted positively to Nvidia’s strong earnings and upbeat outlook.
Asian markets were mostly higher, led by South Korea’s Kospi, up 1.8%, while Japan’s Nikkei gained 0.3%. The gains reflected renewed optimism around AI spending and the technology sector following Nvidia’s results.
Oil prices continued to decline on Thursday as progress between Iran and Oman over the Strait of Hormuz raised hopes that disrupted energy supplies could gradually recover. Brent fell 0.7% to $87.20, while WTI declined 0.56% to $81.77.
In Asia, China’s industrial profits rose 11.2% on a yearly level in July, the slowest pace of growth this year, as weak domestic demand and a broader economic slowdown weighed on manufacturers.
Gold remains below its recent high near $4,700 as traders wait for Fed Chair Kevin Warsh’s Jackson Hole speech on Friday for clearer signals on interest rates. The latest US PCE data showed inflation remained sticky, with headline PCE at 3.7% year over year and core PCE at 3.3%, strengthening the case for at least one Fed rate hike before year-end.
However, gold is finding some support from lower Treasury yields, driven by the US Treasury’s bond-buyback strategy, as well as hopes for a US-Iran ceasefire and a potential reopening of the Strait of Hormuz.
The cryptocurrency market remains constructive, with Bitcoin holding above $78,000 despite recent US PCE inflation data, which suggests inflation remains elevated.
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