Stocks Edge Higher With Nvidia Countdown Underway – Europe Market Wrap

Prior to a significant earnings announcement from Nvidia, the $3 trillion company leading the world’s artificial intelligence frenzy, global shares moved higher.

When Nvidia reports after market close on Wednesday, it is anticipated to estimate revenue growth of over 70% for the current quarter. Nvidia is seen as a barometer for AI expenditure throughout much of the technology industry. Given the company’s weight in US indexes, any disappointment is sure to cause market turbulence.

The stock increased slightly in premarket trade after rising almost 160% so far this year, much more than the 16.4% rise on the Nasdaq 100. On the day following the results, the options market is projecting swings of around 10% in either way.

Futures for the S&P 500 and the Nasdaq increased by roughly 0.1%, and the Stoxx 600 in Europe saw a 0.5% increase.