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Highlights
ASX 200 futures edge higher following Nvidia’s upbeat earnings report
US indices close in the red amid subdued trade sentiment and bond market concerns
Nvidia (NASDAQ:NVDA) gains after earnings, lifting futures in tech-heavy indices
ASX 200 futures indicate a modest rise following strength in the US technology sector, particularly driven by Nvidia (NASDAQ:NVDA). The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all ended the previous session in negative territory, while S&P 500 futures point upward after hours on positive tech earnings. The Nasdaq Composite, rich in technology constituents including NVDA, saw relief in post-market movement.
Broad Weakness Across US Indices
US equities declined broadly, with the Russell 2000 underperforming its larger-cap counterparts. All sectors in the S&P 500 closed lower, with the Equal-weight S&P 500 index trailing the primary benchmark. This followed a prior strong session and was not driven by any major headlines. Market participants assessed subdued progress in US-EU trade dialogues, which introduced a cautious tone across broader indices.
Sector Moves Weigh on Market Breadth
Sectors tied to energy (NYSEARCA: XLE), materials (NYSEARCA: XLB), and utilities (NYSEARCA: XLU) were the worst performers during the session. Technology-related equities, tracked by ETFs such as the Technology Select Sector SPDR Fund (NYSEARCA: XLK), were down intraday but saw renewed interest in after-hours trading. Real estate (NYSEARCA: XLRE) and communication services (NYSEARCA: XLC) experienced milder losses.
Nvidia's Earnings Influence Tech Futures
Nvidia reported quarterly earnings that exceeded consensus expectations, sparking a rebound in after-hours activity for the stock and contributing to a lift in S&P 500 and Nasdaq 100 futures. This comes after a period of anticipation around AI chip demand and enterprise in data infrastructure, sectors where NVDA has a strong presence. The company's performance has translated into wider optimism for related indices.
Global Sentiment Muted by Macro Headlines
Outside of the US, equity markets in Europe and Asia were mostly down. The FTSE 100, DAX, and Hang Seng Index registered declines, while the Nikkei 225 remained flat. Concerns around a weak Japanese government bond auction weighed on sentiment, driving bond yields higher. In commodities, WTI oil and copper showed slight strength, while gold also moved higher.
Currency and Crypto Movement
The Australian dollar softened against the US dollar in currency markets. In the digital asset space, Bitcoin and Ethereum retreated from prior gains, reflecting broader behavior during the session. Meanwhile, the CBOE Volatility Index (VIX) edged higher, indicating heightened market caution.
Outlook Shaped by Earnings and Trade Developments
With Nvidia’s earnings providing a focal point, tech sentiment appears to be a driver in early futures movement. Market watchers remain attentive to further earnings updates and geopolitical signals from US-EU negotiations, which could influence the next session’s tone. As of the latest futures reading, the ASX 200 is expected to begin with a modest gain.
