Nov 20, 2024 (MENAFN via COMTEX) --
(MENAFN) The U.S. Dollar stabilized near a one-week low of 106.23 on Wednesday after three consecutive days of decline, with investors closely monitoring Nvidia's earnings report. Nvidia, the world's most valuable company, is set to announce its third-quarter results after the market closes. The company's stock surged 4.9% on Tuesday, with market expectations for significant volatility, potentially swinging by up to 9%, given Nvidia's market capitalization of $3.6 trillion, highlighting its role in the growing artificial intelligence sector.
On Wednesday, Nasdaq futures rose by 0.2%, and Eurostoxx 50 futures gained 0.4%. In Asia, the broader MSCI index outside Japan slipped by 0.1%, and Japan's Nikkei dropped by 0.2%.
In China, the central bank's decision to maintain benchmark lending rates led to a rally in Chinese stocks, with the CSI300 climbing 0.4% and Hong Kong's Hang Seng rising 0.1%.
Meanwhile, gold prices continued their upward trend, increasing by 0.2% to $2,636.46 per ounce for the third consecutive session. Oil prices remained steady, with WTI at $69.39 per barrel.
Geopolitical tensions, particularly Ukraine's use of U.S. weapons in attacks on Russia, raised concerns about potential Russian nuclear retaliation, though these fears began to ease. This prompted brief gains in safe-haven currencies such as the Japanes Yen and Swiss franc, while U.S. Treasury yields saw a slight recovery.
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COMTEX_460017823/2604/2024-11-20T21:14:51
