Markets Stabilize as Investors Brace for Nvidia’s Critical Earnings Test – Europe Market Wrap

Global markets caught their breath after a sharp stretch of selling, with traders stepping back from the exits as they await Nvidia’s earnings — a key moment for the broader technology sector.

Futures on the S&P 500 edged up 0.3%, positioning the index to break its longest losing streak since late summer. Treasury markets were steady following several sessions of haven-driven inflows, while the dollar firmed slightly.

Bitcoin hovered below $92,000, and gold headed for its strongest daily gain in a week. The S&P 500 has fallen more than 3% in November as the heavyweight tech names responsible for much of this year’s rally faced mounting pressure. Nvidia’s report, due after the closing bell, is widely viewed as a temperature check on whether high valuations and relentless investment in artificial intelligence can continue.

The chipmaker enters the announcement after a turbulent few weeks, with its stock sliding 12% from its late-October peak. Even so, shares are still up more than 35% in 2025. Analysts anticipate that Nvidia will post fiscal third-quarter growth exceeding 50% in both revenue and earnings.

The company’s largest customers — Microsoft, Amazon, Alphabet and Meta — are expected to raise their combined AI-related outlays by 34% to roughly $440 billion over the next year, underscoring the scale of ongoing demand for advanced computing power.