Global equities surged as markets recovered from Tuesday’s hiccup, with investors waiting to see if Nvidia Corp.’s earnings reports could help reignite the artificial intelligence-driven rise. Stocks in Europe reached a new intraday high, climbing almost 0.8%. Resources companies led the gains after President Donald Trump announced tariffs on copper, boosting the price of metals. Solid results from several firms, including Anheuser-Busch InBev, Banco Santander SA, Fresenius SE, and Alcon AG, also increased the market. US market futures rose, with the Nasdaq 100 up roughly 0.8% and the S&P 500 up 0.4%. The gains suggested that Wall Street may recover from Tuesday’s dip, which was prompted by a weaker-than-expected consumer confidence reading that raised worries about an economic slowdown.
Nvidia, the leading producer of processors in new artificial intelligence systems, is scheduled to report after the US market closes. The blazing increase in its shares over the last several years has slowed recently, as it became evident that AI computer adoption will not be a straight line and will not rely only on Nvidia technology. Concerns have spread throughout the technology industry, sending the Magnificent Seven group of bellwether companies into a correction zone on Tuesday. Nvidia shares rose about 3% in premarket trading, recovering from the previous session’s 2.8% drop. The corporation’s shares have been down about 6% in the year.
“Nvidia’s numbers could very 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 drive opinion one way or the other might come down to whether the outlook from the company stays as rosy as before.” Other noteworthy premarket movers include Super Micro Computer Inc., which rose 25% after learning that it had met a deadline to submit financial disclosures to be listed on the Nasdaq. Workday Inc., a human resources business, also rose on better-than-expected results.
The 10-year Treasury yield climbed two basis points overnight after falling 11 basis points, reaching its lowest level since mid-December. Money markets are already pricing in more than two quarter-point interest rate cuts from the Federal Reserve in 2025. The dollar strengthened after House Republicans approved a budget proposal, increasing the odds of early action on Trump’s tax cuts. Hong Kong stocks rose sharply when Chinese AI platform DeepSeek resumed access to its key programming interface following a nearly three-week restriction. Get the Markets Daily newsletter to find out what’s happening with stocks, bonds, currencies, and commodities.
