London (AFP) – Stock markets mostly climbed Thursday but a rally lost momentum after mixed US jobs data offset bumper earnings from chip titan Nvidia that had eased fears of an AI bubble. Europe’s main equity indices closed higher as Wall Street came off the boil following a strong open. Asia’s leading stock markets ended mixed.
Investors cheered an earnings report from AI bellwether Nvidia, released after US markets closed Wednesday, which topped expectations on fierce demand for its advanced chips. Chief executive Jensen Huang brushed off fears of an artificial intelligence bubble that has caused global equities to wobble. “Nvidia’s results have completely changed the market mood and pushed out any bubble fears for another day,” said Jim Reid, managing director at Deutsche Bank. Shares in the chipmaker — which last month became the world’s first $5 trillion stock — eased after rallying at the start of Wall Street trading Thursday.
The upbeat earnings were offset by data showing the US jobless rate creeping higher in September and hiring exceeding analyst expectations. “This report is unlikely to massively shift the needle for the December Fed meeting which looks like a pause,” Joshua Mahony, chief market analyst at traders Scope Markets, said of the Federal Reserve’s next interest-rate decision due in December. The dollar traded mixed against its main rivals following the update.
Thursday’s jobs publication marked the first official snapshot of the labour market’s health in more than two months, owing to a 43-day government shutdown in the United States that ended last week. Minutes from the Fed’s October policy meeting, released Wednesday, suggested officials are against cutting rates for the third time in a row next month.
– Key figures at around 1645 GMT –
New York – Dow: UP 0.5 percent at 46,383.31 points
New York – S&P 500: UP 0.6 percent at 6,678.42
New York – Nasdaq Composite: UP 0.7 percent at 22,712.03
London – FTSE 100: UP 0.2 percent at 9,527.65 (close)
Paris – CAC 40: UP 0.3 percent at 7,981.07 (close)
Frankfurt – DAX: UP 0.5 percent at 23,278.85 (close)
Tokyo – Nikkei 225: UP 2.7 percent at 49,823.94 (close)
Hong Kong – Hang Seng Index: FLAT at 25,835.57 (close)
Shanghai – Composite: DOWN 0.4 percent at 3,931.05 (close)
New York – Dow: UP 0.1 percent at 46,138.77 (close)
Euro/dollar: UP at $1.1536 from $1.1526 on Wednesday
Pound/dollar: UP at $1.3087 from $1.3048
Dollar/yen: UP at 157.31 yen from 157.01 yen
Euro/pound: DOWN at 88.14 from 88.33 pence
Brent North Sea Crude: UP 0.3 percent at $63.33 per barrel
West Texas Intermediate: UP 0.3 percent at $59.27 per barrel
burs-ajb/bcp/tw
© 2024 AFP
