
The US Market had a positive Wednesday, with the S&P 500 and Nasdaq rising 0.2% and the Dow Jones gaining 0.3%. However, futures fell after hours following Nvidia’s quarterly results. S&P 500 futures dropped 0.3%, Nasdaq 100 futures declined 0.5%, while Dow futures fell 0.03%. Nvidia shares fell 3% after-hours despite beating estimates. With the S&P 500 at record highs, investors had set expectations beyond the official estimates.
For August, the S&P 500 and Nasdaq are up over 2%, while the Dow has gained more than 3%. S&P500 reached a new high during yesterday’s session at 6,489 before closing slightly lower.
Nvidia beat earnings expectations Wednesday, forecasting continued 50%+ sales growth, indicating strong AI infrastructure demand. The stock dropped in after-hours trading, as data center revenue missed estimates again. Nvidia projects around $54 billion revenue next quarter, excluding potential China H20 shipments.
Following CEO Jensen Huang’s meeting with President Trump, Nvidia anticipates US licenses to ship H20 chips to China.
On the tariffs front, Japan’s top trade negotiator canceled a US trip Thursday due to unresolved issues with the U.S.-Japan trade deal. The trip is reportedly postponed until next week once issues are resolved. While the US set Japan’s baseline tariff at 15%, written confirmation for auto tariffs reduction remains pending.
The cryptomarket is heading for a recovery in early trading today. Bitcoin rose 1.34% reclaiming $113,000 levels. Ether gained 1.15% and it is currently trading at around $4,500 levels.
In the commodities market, gold added 0.16% yesterday as the precious metal is nearing $3,400 price level. Silver is currently trading at $48.18 per ounce, up 0.77% since yesterday.
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