Nvidia struggles and Oil rallies
|Nvidia's fall has halted the US rally, while oil prices rebounded on conflict fears, says Chris Beauchamp, Chief Market Analyst at investing and trading platform IG.
Nvidia disappointment stymies US markets
Nvidia’s earnings last night delivered everything investors could ask for, and still the stock has fallen again. Hesitation around the AI trade and its vast expense remains rife, holding back US markets even while Europe and Asia continue to make gains. Inevitably, today has seen another FTSE 100 record high, leaving it well placed to make a push to 11,000 next week.
Oil rallies as Iran fears grow
With Nvidia out of the way attention inevitably turns to Iran and the lack of progress in talks. Oil’s earlier weakness has been reversed as it seems both sides remain far apart. Given the supply outlook, conflict fears seem to be the only thing driving oil prices to the upside, while indices remain highly nervous given the potential for an extended military operation and the risks that entails.
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