Stock futures rise as Nvidia shares gain over 4% after earnings: Live updates
Investors looked at the earnings report from Nvidia, which surpassed analyst forecasts.
TL;DR
- Stock futures climbed as Nvidia shares surged more than 4% after beating earnings expectations and forecasting strong revenue growth.
- Salesforce rallied 13% and Okta soared over 20% after their respective earnings reports exceeded analyst forecasts.
- Oil prices extended their decline as talks between Oman and Iran over the Strait of Hormuz raised hopes for improved supplies.
- China's industrial profits growth slowed to 11.2% in July, the weakest pace this year, due to soft demand.
- The Bank of Korea raised interest rates by 25 basis points for the second consecutive time to combat elevated core inflation.
- Consumer sentiment in Germany improved slightly in August, driven by increased income expectations, but remained in negative territory.
- Pernod Ricard reported a 3.9% year-on-year decline in full-year net sales, citing weak demand in the U.S. and China and the impact of the U.S.-Iran conflict.
- Nvidia CEO Jensen Huang stated that Amazon's GPU deal includes 'millions of CPUs' and will also utilize Nvidia's technology for robotics.
- Asian markets traded broadly higher, with Japan's Nikkei 225 and South Korea's Kospi advancing.
- Investors are anticipating the start of the Federal Reserve's annual symposium in Jackson Hole, Wyoming.