📆 Wednesday, August 23
â–º European stocks rose, led by miners such as Anglo American, as iron ore surged for the fifth consecutive day due to speculation that Chinese steel mills might increase output. Iron ore has spiked 12% since last week.
► US equities rose by a bit over 0.3% yesterday, with keen anticipation surrounding Nvidia's earnings results and more importantly revenue forecast. The chipmaker is central to this year’s AI hype, and any movement in its stock price, which recently hit an all-time high, could have broader S&P 500 / Nasdaq 100 implications given Nvidia accounts for over 3% of the index (more than 4.6% of the Nasdaq 100). The index remains unchanged in pre-market trading.
â–º Asian equities showed mixed results with Baidu surging over 5% after a substantial revenue leap, but mainland Chinese stocks felt pressure despite tech giants' earnings recovery. Chinese stocks dropped 0.55% amidst economic uncertainties.
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