LIVE MARKETS-Europe before the bell: Stocks set to jump after reassuring Nvidia results
Nvidia's strong earnings report has boosted global risk sentiment, leading to a rise in stock futures across Europe. Euro STOXX 50 futures are up 0.9%, with DAX, CAC, and FTSE futures rising between 0.5% and 0.8%. Amsterdam's AEX futures are outperforming due to its tech stock weighting. The focus now shifts to the delayed U.S. nonfarm payrolls report, which may influence the Fed's interest rate decisions.
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EUROPE BEFORE THE BELL: STOCKS SET TO JUMP AFTER REASSURING NVIDIA RESULTS
Another strong earnings report from Nvidia has given global risk sentiment a boost on Thursday, before the release of September’s delayed U.S. nonfarm payrolls report. AI-bellwether Nvidia (NVDA.O) announced accelerating sales growth and forecast revenue above expectations in after-hours trading on Wednesday.
That’s boosted its shares and given a lift to companies in the AI supply chain across the U.S. and Asia-Pacific. Europe is likely to follow suit.
Euro STOXX 50 futures (STXEc1) are up 0.9%. Futures on the DAX (FDXc1) , CAC (FCEc1) and FTSE (FFIc1) are up between 0.5% and 0.8%.
Futures on Amsterdam’s AEX (AEXc1) are outperforming given the index’s heavy weighting of tech stocks, such as ASML (ASML.AS) , ASM International (ASMI.AS) and BE Semi (BESI.AS) . Investor attention was now on September’s jobs report, delayed by the 43-day government shutdown, which is expected to show the U.S. economy added jobs at a moderate pace.
Although backward-looking, the data could help the Fed decide whether to continue with interest rate cuts next month or take a pause.
(Samuel Indyk)
EARLIER ON LIVE MARKETS: US JOBS TEST LOOMS AFTER NVIDIA RELIEF CLICK HERE
