(CercleFinance.com) – The Paris Stock Exchange should open sharply higher on Thursday morning, boosted by much better than expected results from Nvidia, which were accompanied by forecasts considered particularly encouraging.
At 8:15 a.m., the ‘futures’ contract on the CAC 40 index – March delivery – climbed 49.5 points to 7883 points, suggesting a gain of around 0.6% at the start of trading.
Nvidia’s higher-than-expected quarterly accounts reassured investors whose confidence had been undermined last week by stronger-than-anticipated inflation figures.
The American processor manufacturer, very present in AI, reassured by publishing quarterly results above expectations, but also by raising its outlook for the current quarter.
“At a fundamental level, market conditions are excellent for continued growth in the 2024/2025 financial year and beyond,” said Jensen Huang, co-founder and CEO of the group.
On Wall Street, the stock gained more than 9% in off-day trading, which more than erases, in theory, its losses suffered over the last two trading days.
“It was the most crucial moment for the technology sector and the market as a whole in several years,” reacts Dan Ives, analyst at Wedbush Securities.
‘This is a game-changing publication for buyers of tech stocks and which fuels optimism regarding a continuation of the sector’s bullish rally,’ he adds.
This favorable movement should benefit other semiconductor manufacturers, as well as the other ‘Magnificent Seven’, who are all trending upwards pre-opening on this good news.
Nvidia’s performance helped to attenuate, at least for the moment, the cautious tone of the Fed’s ‘minutes’, which confirmed last night that the central bank wanted to give itself time before reducing its rates, which was already integrated by the market.
In this context of enthusiasm, investors will carefully follow the latest ‘flash’ PMI activity indices this morning in the euro zone, hoping that these figures will reveal some good surprises.
The region’s ‘composite’ index has been in a contraction zone since last summer, but signs of stabilization have recently appeared, suggesting a possible recovery in the coming months.
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