Nvidia outpaced Wall Street estimates on both the top and bottom lines, reporting record quarterly revenue of USD 96 billion and earnings per share of USD 2.22, versus consensus EPS of USD 2.10. The chipmaker said it expects AI-driven demand to lift sales by roughly 70% in 2027, reinforcing its central role in the enterprise-computing boom.
The results sent ripples through risk markets as investors parsed the implications for data‑centre spending and AI-capacity expansion. Nasdaq futures led gains, rising about 1% with Nvidia among the biggest contributors, while mainland Chinese equities outperformed in Asia, advancing close to 1%. European, Japanese and Hong Kong markets traded around the flatline as traders awaited further policy cues.
Inflation data added nuance to the outlook for monetary policy. The core personal consumption expenditures (PCE) index — the Fed’s preferred gauge of underlying inflation — rose 0.2% in July, broadly in line with expectations. On an annualised basis the core index remained at 3.3%, with headline PCE holding at 3.7%, a reading that keeps the Federal Reserve’s tightening path in focus but does not yet signal an urgent shift.
Market participants are now looking toward Federal Reserve Chairman Kevin Warsh’s address at the Jackson Hole symposium for additional guidance on the central bank’s next moves. After robust corporate results and the PCE release, traders will be watching Warsh for commentary that could better frame the timing and scale of future rate decisions.
In other corporate news, fast-fashion platform Shein is on track to raise about USD 1.7 billion in its Hong Kong initial public offering after pricing shares in the middle of the marketed range — a sign of solid demand for the company’s stock despite volatile markets. French spirits group Pernod Ricard trimmed its growth outlook, citing softness in the U.S. market that has weighed on near-term volumes and revenue trajectories.
Commodity markets were steady. Brent crude traded around USD 88 a barrel while gold hovered near USD 4,600, reflecting a cautious risk trade as investors balanced strong tech earnings against mixed macro signals and the prospect of fresh Fed commentary.
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