📆 Thursday, August 24
► The S&P 500 futures climbed by 0.7% while Nasdaq 100 futures advanced over 1%, building upon gains from Wednesday. A significant contributor to this positive trend was Nvidia, which reported better-than-expected earnings and projected quarterly sales of $16 billion, surpassing already optimistic analyst expectations widely.
► The Stoxx Europe 600 index rose by 1%, further supported by gains in Nvidia's European counterparts such as German chip company Infineon Technologies. Asian markets also saw a positive shift with Hong Kong stocks experiencing their best performance in a month, primarily led by tech companies – also with a noticeable Nvidia boost.
► Despite the impressive stock performance, Treasuries remained relatively stable after their jump on Wednesday. A softer-than-expected US PMI data for August, mirroring underwhelming data from the Eurozone, seemed to affirm the market's expectation of no future rate hikes, particularly benefiting AI and tech stocks.
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