Morning Bid: Nvidia's damp squib

By Mike Dolan

Feb 26 (Reuters) - What matters successful U.S. and planetary markets today

By Mike Dolan, Editor-At-Large, Finance and Markets

Nvidia bushed the thoroughfare again, but determination were nary marketplace fireworks this time. After topping analysts’ gross estimates for the latest 4th and their forecast for ‌the adjacent one, the AI giant's shares popped up astir 3% retired of hours - but they've fixed backmost astir of that since.

Questions astir ‌rising contention and the narrowness of the spot giant's lawsuit basal proceed to rumble.

I’ll get into that and much below.

But first, cheque retired my latest file connected the cardinal bony of contention lasting successful ​the mode of deeper EU-China commercialized ties.

And perceive to the latest occurrence of the Morning Bid regular podcast. Subscribe to perceive Reuters journalists sermon the biggest quality successful markets and concern 7 days a week.

NVIDIA'S DAMP SQUIB

The wide takeaway seems to beryllium that Nvidia is present already good priced for the AI boom, adjacent if the surge successful wide AI infrastructure spending is intelligibly going up a gear.

That overmuch tin beryllium seen successful rallying Asia markets wherever large chipmakers and computing hardware sellers ‌dominate - with the staggering emergence successful South Korea's Kospi scale ⁠adding astir 4% connected Thursday. The Seoul benchmark is present up a whopping 50% for the twelvemonth truthful acold and has doubled successful six months.

It wasn't each sweetness and airy successful the tech world, however. Even though the bundle assemblage astatine ⁠large continued its betterment connected Wednesday, Salesforce fell backmost 4% overnight aft its latest results, portion HR bundle steadfast Workday dropped different 8% to five-year lows.

The wide S&P 500 inactive managed a punchy 0.8% summation connected Wednesday and futures held those gains up of Thursday's bell. European stocks were firmer during a engaged net time there.

Meantime, Japan's Nikkei ​pushed ​slightly higher arsenic attraction focused connected the Bank of Japan. The absorption this week has ​been connected Prime Minister Sanae Takaichi's information of 2 dovish ‌names to the BoJ board, which immoderate likened to the Federal Reserve independency worries successful the U.S. The yen initially weakened connected that news.

However, galore investors person downplayed the interaction of the nominations arsenic they regenerate 2 likewise dovish policymakers, and BoJ independency from authorities has ever been overmuch much tenuous anyway. The yen caught a foothold against the dollar contiguous arsenic a result.

There's nary stopping China's yuan, however. Not lone does it proceed to fortify against the dollar to its champion levels successful astir 3 years, but it deed its highest successful 9 months against the euro contiguous too.