Stocks Rise as AI Trade Faces Nvidia Earnings Test – Europe Market Wrap
A stock rise is faltering after Nvidia’s earnings beat failed to spark further increases in technology equities, and investors pulled significant bets as high-stakes nuclear talks between the US and Iran began.
S&P 500 and Nasdaq 100 futures were slightly changed following a two-day rally. Nvidia climbed 0.6% in premarket trade on good earnings, although concerns about its sales outlook persisted. The majority of the Magnificent Seven lost ground, while Salesforce slumped 3.2% on a mediocre growth estimate.
Meanwhile, Brent crude was trading near $70 per barrel while the United States and Iran negotiated in Geneva through mediator Oman.Trump set a March 1-6th deadline for Tehran to reach an agreement on the Islamic Republic’s nuclear programs and has warned military attacks if it does not comply.
The S&P 500 has rebounded from Monday’s selloff, which was spurred by a Citrini Research research describing hypothetical AI disruption scenarios, but traders are not adding to their gains. With Salesforce’s earnings raising concerns that software behemoths may lose ground in the age of AI, investors are walking gingerly amid trade uncertainties and geopolitical threats.
European markets ticked higher, extending their record-breaking rise. Rolls Royceset a new record, while Syensgo fell after missing earnings expectations. Bitcoin remained above $68,000. The Dollar and Treasuries were little changed, with the 10-year yield at 4.05%.
