Stocks Rebound on Nvidia’s Results – Europe Market Wrap
Daily Dose, EU

Stocks Rebound on Nvidia’s Results – Europe Market Wrap

Tech stocks recovered from the rash selling of Nvidia, with traders citing the company’s results—which showed that sales increased during the quarter—as evidence of artificial intelligence’s ability to generate profits.

Nasdaq 100 Index futures saw a 0.3% increase following a 1.4% decline. Additionally, S&P 500 contracts increased, and the German DAX Index set a new high. Pre-market trade saw Nvidia, which had fallen precipitously in trading following the closing of US exchanges, down just 2%. Microsoft, Apple, and Intel all reported slight increases.

Spain’s inflation data, which bolstered expectations for a rate decrease by the European Central Bank in September, lifted mood in European markets. All of the bond yields decreased. The German market index, the DAX, increased by as much as 0.7% to 18,912.47 points, surpassing its previous high set on May 15.