by Winnie Hsu
Global shares rose as markets steadied after Tuesday’s wobble, with investors waiting to see if earnings results from Nvidia Corp. can help renew the artificial intelligence-driven rally.
Stocks in Europe hit a record intraday high, rising about 0.8%. Resources shares led the gains after President Donald Trump signaled tariffs on copper, sending prices for the metal higher. The market was also lifted by strong results from a slew of companies including, Anheuser-Busch InBev, Banco Santander SA, Fresenius SE and Alcon AG.
US stock futures advanced, with contracts on the Nasdaq 100 up about 0.8% and those on the S&P 500 gaining 0.4%. The gaines signaled that a rebound may be in store on Wall Street after Tuesday’s drop, fueled by a weaker-than-expected consumer confidence print that stirred fears of an economic downturn.
Nvidia, the top provider of chips used in new artificial intelligence computers, is set to report after the US market close. The blistering rally its shares enjoyed in the past couple of years has stuttered of late, as it became clear AI computing adoption won’t be a straight path, and won’t rely solely on Nvidia technology. The concerns have rippled across the technology sector, pushing the Magnificent Seven group of bellwether tech stocks into correction territory on Tuesday.
Nvidia shares rose about 3% in premarket trading, signaling a recovery from the previous session’s 2.8% drop. Shares in the company are down almost 6% year-to-date.
“Nvidia’s numbers could well be a make-or-break event for the market, at least in the short term,” said Tim Waterer, chief market analyst at KCM Trade in Sydney. “What could really drive sentiment one way or the other could boil down to whether the outlook from the company remains as rosy as before.”
Other significant premarket movers include Super Micro Computer Inc., which jumped 25% on news it had met a deadline to submit financial reports to stay listed on the Nasdaq. Human resources firm Workday Inc. also rallied on forecast-beating results.
The yield on 10-year Treasuries rose two basis points after an 11-basis-point decline overnight took it to the lowest level since mid-December. Money markets are now pricing in more than two quarter-point interest-rate reductions by the Federal Reserve in 2025. The dollar firmed as chances for early action on Trump’s tax cut plans improved after House Republicans passed a budget blueprint.
Earlier, Hong Kong shares rallied strongly, after Chinese AI platform DeepSeek reopened access to its core programming interface after nearly a three-week suspension.
In other markets, oil in New York steadied after sinking back into the $60s-a-barrel range as a souring economic outlook threatened prospects for energy demand. Gold edged lower and Bitcoin was little changed after falling 6% overnight.
Key events this week:
Some of the main moves in markets:
Stocks
Currencies
Cryptocurrencies
Bonds
Commodities
This story was produced with the assistance of Bloomberg Automation.
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