Nvidia Earnings Top Estimates, Markets Surge
Risk appetite is rebounding across the financial markets this morning after artificial intelligence chipmaker Nvidia’s earnings results exceeded astonishingly-high investor expectations. Sales more than tripled in the company’s fiscal fourth quarter, and are projected to do so again in the first quarter of 2024, with President Jensen Huang noting that “Demand is surging worldwide across companies, industries, and nations”. Equity markets are on a tear, with Nasdaq futures pointing to a 2-percent gap higher at the open, while the S&P 500 sets up for a 1-percent gain. Treasury yields are headed lower, and the dollar is declining, particularly against high-beta...