Global Market: The mood of global markets has improved due to NVIDIA’s excellent results. Nasdaq futures were trading up about 2 percent. There was a break in America also after 4 days of decline. Asia also looks strong. Japan’s Nikkei has jumped nearly 4%. GIFT is showing a rise of about 100 points in Nifty. Alphabet launches Google Gemini 3. Alphabet shares rose another 3% after the launch.
NVIDIA set the tone
NVIDIA delivers stellar results amid AI bubble fears. The company had $57 billion in sales in Q3, beating EPS estimates. Gave guidance for Q4 sales at $65 billion. The share has risen about 4 percent.
The company expects sales to grow further in Q4. Sales in Q4 are expected to be $65 billion. Q4 FY23 sales were just $6 billion. Profit in 9 months of FY26 stood at $77.1 billion. Profit is more than the total sales of Intel and AMD combined. Profit of $100 billion is possible by the end of FY26.
After the results, company CEO Jensen Huang said that sales of Blackwell Chips were higher than expected. Disappointment over not being able to ship Blackwell chips to China.
What about fed minutes?
Fed officials appeared divided on cutting interest rates. There was isolation due to weakness in the labor market or inflation. Officials were divided on which issue was bigger among the two. Many officials are not in favor of cuts in December. Only 12 out of 19 officers had voted. Voting was done to decide on interest rates. Most officials want a cut in rates. There is uncertainty over whether rates will be reduced in December or not. The Fed will take a decision on rates on December 10.
What is happening in Japan?
The rally faded away after the election of the new Prime Minister. The new Prime Minister of Japan is Sanae Takaichi. The situation is likely to worsen with the upcoming relief package. The fiscal situation of the country is likely to worsen further. After the election, all the gains of Nikkei were reversed. Due to this the index reached record high. The increasing tension between China and Japan has also increased the concern.
Bond yields in Japan also rose sharply. The 10-year JGB yield hit a high of 1.759%, its highest level since 2007. 20-year and 30-year bond yields also neared 1999 and record highs, further increasing concerns about interest rates in the market. Bank of Japan intervention may be required.
Where will the market keep its eyes?
Non-farm payroll figures for September will come today. Non-farm payrolls are expected to increase by 55,000. Doubts remain over the unemployment rate for September.
Asian market
Meanwhile, today trading is on the rise in Asian markets. GIFT NIFTY is showing a gain of 80.00 points. At the same time, Nikkei is seen around 50,170.00 with a gain of about 3.36 percent. At the same time, Strait Times is showing a growth of 0.26 percent. Taiwan’s market is trading at 27,199.77, up 2.33 percent. While Hangseng is functioning flat. At the same time, Kospi is trading with an increase of 2.72 percent. At the same time, Shanghai Composite is showing a rise of 0.10 percent at the level of 3,950.85.