Stocks Rally Ahead of Nvidia Earnings

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Building on yesterday’s sharp turnaround, which saw US indices shrug off Monday’s losses with gains of 0.8% to 1.0%, stock markets have continued to climb overnight and into the morning.


Asia-Pacific trading saw the Nikkei surge 2.2%, while Australia gained 1.2%. European markets are also higher, with the DAX up 0.4% and the FTSE up 1.0%.


The response to last night’s State of the Union address from President Trump has been positive for US equities and negative for the US Dollar. US index futures are up 0.3% to 0.5% this morning. Non-US currencies and alternative assets are rallying, including gains of 3.6% for Silver, 2.6% for Bitcoin, 0.6% for Gold, and 0.1% for the Loonie and Euro. Commodity markets are also firmer, with Crude Oil up 0.9% and Copper up 0.5%.


Nvidia, the headline stock of the AI cycle, reports earnings after the close today. The stock traded steadily yesterday and this morning but could see increased activity depending on the results and guidance. Investors are likely to focus on whether growth momentum is keeping pace with expectations and what level of valuation relative to growth may be justified.

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