Global Stocks Gain Ahead of Crucial Nvidia Result: Markets Wrap

(Bloomberg) — Global shares rose as investors geared up for key earnings results from Nvidia Corp. which could help reignite the artificial intelligence-driven rally.

While Europe’s Stoxx 600 index hit a new record high. Contracts on the Nasdaq 100 rose about 0.8% and those on the S&P 500 gained 0.5%. The moves signal a rebound is in store on Wall Street after Tuesday’s drop, fueled by a weaker-than-expected consumer confidence print that stirred fears of an economic downturn. 

All eyes are on Nvidia, the top provider of chips used in new artificial intelligence computers, which will report after the US market close. The result could determine Wall Street’s direction, especially for the technology sector, after recent months showed AI computing adoption won’t be a straight path. Options data imply share moves of about 8.5% in either direction around the report. 

“The reality is, we need a good set of numbers from Nvidia to keep this bull track in place in the US,” said Guy Miller, chief market strategist Zurich Insurance Co. “It will be important that the numbers are good and the outlook is good. If it’s a really disappointing reading the market will be vulnerable to a further setback.”

Nvidia’s shares rose about 3% in premarket trading, signaling a recovery from the previous session’s 2.8% drop. Shares in the company are down almost 6% year-to-date, after blistering gains in the past couple of years. The concerns have rippled across the technology sector, pushing the Magnificent Seven group of bellwether tech stocks into correction territory on Tuesday. 

Other significant premarket movers include Super Micro Computer Inc., which jumped 25% on news it had met a deadline to submit financial reports to stay listed on the Nasdaq. Human resources firm Workday Inc. rallied on forecast-beating results. Mining firm Freeport-McMoRan Inc. also gained, after President Donald Trump signaled tariffs on copper, sending prices for the metal higher. 

European equity gains were also led by resources and mining companies. In addition, sentiment was boosted by strong results from a slew of companies including, Anheuser-Busch InBev, Banco Santander SA, Fresenius SE and Alcon AG.

In bond markets, the yield on 10-year Treasuries steadied after an 11-basis-point decline overnight took it to the lowest level since mid-December. Money markets have raised their bets on Federal Reserve policy easing, and now price more than two quarter-point interest-rate reductions in 2025. The dollar also firmed against G-10 peers, as chances for early action on Trump’s tax cut plans improved after House Republicans passed a budget blueprint.

Earlier, Hong Kong shares rallied strongly, after Chinese AI platform DeepSeek reopened access to its core programming interface after nearly a three-week suspension. On commodity markets, copper futures surged after the latest tariff threat, while gold traded just off the latest all-time high hit on Monday. 

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Key events this week:

• US new home sales, Wednesday
• Nvidia earnings, Wednesday
• Fed’s Raphael Bostic speaks, Wednesday
• Eurozone consumer confidence, Thursday
• US GDP, durable goods, initial jobless claims, Thursday
• Fed’s Jeff Schmid, Beth Hammack, Patrick Harker, Michael Barr, Michelle Bowman speak, Thursday
• Japan Tokyo CPI, industrial production, retail sales, Friday
• US PCE inflation, income and spending, Friday
• Fed’s Austan Goolsbee speaks, Friday

Some of the main moves in markets:

Stocks

• S&P 500 futures rose 0.5% as of 5:56 a.m. New York time
• Nasdaq 100 futures rose 0.8%
• Futures on the Dow Jones Industrial Average rose 0.3%
• The Stoxx Europe 600 rose 0.7%
• The MSCI World Index was little changed

Currencies

• The Bloomberg Dollar Spot Index rose 0.2%
• The euro fell 0.1% to $1.0499
• The British pound fell 0.2% to $1.2646
• The Japanese yen fell 0.3% to 149.47 per dollar

Cryptocurrencies

• Bitcoin rose 0.5% to $89,151.7
• Ether fell 0.8% to $2,491.22

Bonds

• The yield on 10-year Treasuries advanced two basis points to 4.31%
• Germany’s 10-year yield declined two basis points to 2.44%
• Britain’s 10-year yield declined two basis points to 4.49%

Commodities

• West Texas Intermediate crude was little changed
• Spot gold fell 0.1% to $2,911.99 an ounce

This story was produced with the assistance of Bloomberg Automation.

–With assistance from Winnie Hsu and Sagarika Jaisinghani.

©2025 Bloomberg L.P.