Stocks Rise as Traders Await Inflation Cues – Europe Market Wrap

As shares of computer giant Nvidia recovered in premarket trade, stock futures indicated gains at the Wall Street open.

Trade on the tech-heavy Nasdaq and the S&P 500 was up 0.4% and 0.2%, respectively, on expectations that the three-day selloff that erased almost $400 billion from Nvidia’s market value was exaggerated. Tuesday’s premarket trade saw a 3.5% increase for the chipmaker.

The aircraft manufacturer Airbus had a decline of over 10% in its stock price, which contributed to a 0.3% decline in European stocks as supply-chain problems persisted. Yield spreads over Germany are declining from their highest point in more than ten years, suggesting that calm is finally returning to the French markets.

The US Treasury will later issue $69 billion in two-year notes to begin the first of this week’s three bond sales. It is anticipated that demand for the shorter, rate-sensitive paper will be higher than it was for the sale last month, especially in light of data on Friday that is predicted to indicate a slowdown in the Fed’s preferred inflation measure.