European stocks climbed, with the Stoxx Europe 600 up 0.6%, as traders awaited Nvidia’s quarterly results later today. US futures also edged higher, signalling a positive market open.
- European markets gain: Stoxx Europe 600 rose 0.6%, with optimism bolstered by Wall Street’s recovery despite geopolitical concerns over the Russia-Ukraine war.
- UK inflation surprise: The British pound rose for the third day, but the FTSE 100 lagged after unexpectedly high UK inflation numbers tempered hopes for Bank of England rate cuts.
- US markets optimistic: Futures for the S&P 500, Nasdaq 100, and Dow Jones rose between 0.2% and 0.3%, driven by anticipation around Nvidia’s results.
- Nvidia in focus: The chipmaker gained 4.9% in the previous session. Analysts view its AI hardware success as critical for sustaining momentum, with results poised to be the year’s top market catalyst.
- Treasury yields steady: The 10-year US Treasury yield rose by three basis points after a previous drop, reflecting stable sentiment in haven assets.
- Dollar rebound: The Bloomberg Dollar Spot Index edged up 0.2%, recovering from a three-day slide.
Additional Market Highlights:
- Trump’s economic appointments: Donald Trump named Cantor Fitzgerald CEO Howard Lutnick to lead the Commerce Department, aligning with his trade-focused agenda. Speculation continues around his Treasury secretary pick.
- Bitcoin surges: Bitcoin hit another all-time high, reflecting broader acceptance of crypto assets under Trump’s administration.
- Commodity updates: Brent crude rose 0.4% to $73.57 per barrel, while gold dipped 0.3% to $2,622.95 per ounce.
This week’s key events include Nvidia’s earnings, Eurozone consumer confidence, and US economic indicators such as jobless claims and manufacturing PMI. Markets are closely watching Nvidia’s performance to gauge its impact on year-end market sentiment.
