Asian equity futures declined as Wall Street’s risk-on mood faded a day after the rally in big tech.
Stock traders are awaiting Nvidia Corp.’s results later Wednesday, which are set to test the fervor around the artificial-intelligence hype, while wider markets are marking time ahead of a speech from Federal Reserve Chair Jerome Powell on Friday.
The 10-year Treasury rates were little changed after benchmark yields hit an almost 16-year high Monday as the resilient economy has investors positioning for the Federal Reserve to keep borrowing costs elevated. In a sign of how significant Nvidia’s results will be, the options market is bracing for a move of about 10% following the results. With Nvidia accounting for over 3% of the S&P 500, the stock action will possibly have broader implications. The shares briefly touched an all-time high on Tuesday.
“It’s not the height of rates that matters as much as how long they stay high,” Essaye noted. “If we see Powell hint at higher for longer on Friday, we will need to brace for more equity market volatility.”
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Futures climb as focus shifts to Powell at Jackson Hole, Nvidia earnings(Reuters) - U.S. stock index futures rose on Monday after a sharp selloff last week, with investors awaiting more clues on interest rates from an ...
Read more »
Women's World Cup teams head home to different futuresTeams headed home from the Women's World Cup with uncertain futures but hopes that the monthlong tournament would spur new interest and further investment in the game.
Read more »
Women's World Cup teams head home to different futuresTeams headed home from the Women's World Cup with uncertain futures but hopes that the monthlong tournament would spur new interest and further investment in the game. For some teams, like Nigeria, the Philippines and Jamaica, the struggle for funding, support and recognition will continue.
Read more »
Tesla shares gain as Baird Equity adds stock to 'best ideas' list(Reuters) - Electric-vehicle maker Tesla's shares rose 4.5% on Monday, snapping a six-session losing streak, after brokerage Baird Equity Research ...
Read more »
Tesla shares gain as Baird Equity adds stock to ‘best ideas’ listBrokerage sees several catalysts, including price reductions, driving second-half performance
Read more »
TSX futures rise on gains in precious metals(Reuters) - Futures for Canada's main stock index rose on Tuesday, helped by a rise in prices of precious metals on a weaker U.S. dollar ahead of ...
Read more »