A slight increase in the Dow Jones index with an eye on Ukraine; NVIDIA pulls down NASDAQ

DOW Jones index futures rose 0.16% to 43,477.90 points, and S&P 500 index futures rose 0.03% to 5,918 points. NASDAQ 100 futures fell 0.09% to 20,649.

Yesterday, Wednesday, the major New York indices completed a mixed session. The Dow Jones Industrial Average rose 0.32%, while the S&P 500 closed virtually unchanged. However, in the end, the Nasdaq fell 0.11% in anticipation of the publication of its reports from NVIDIA.

The semiconductor giant waited until the close of the regular session to report results for the third quarter, which ended in October. NVIDIA recorded net income of $19.309 million, representing a 109% increase in profit compared to the same quarter in the prior year. Revenue from August to October was a record $35,082 million, up 93.6% from a year earlier.

However, the company was disappointed with its Blackwell chip and fourth-quarter guidance, which explains why its shares fell 2.58% ahead of the opening day. “It is clear that traders were expecting an even higher performance, indicating that the bar is very high for the company given the demanding nature of its current valuation,” says Juan J. Fernandez-Figares of Link Gestión.

For their part, Bankinter’s research team explains that “both the numbers, guidance and management communications support our positive view of value over the medium term”, so they believe that “Drops in shares following the release of results will typically correct in the coming days/weeks. (so the drop in value that will occur today is an opportunity to enter at more attractive prices).”

Another important factor that is dragging down markets today is the war between Russia and Ukraine, which has intensified in recent days. In the latest news Ukraine said Russia launched an intercontinental ballistic missile during a night attackand a Kremlin spokesman called Kiev’s recent use of British Storm Shadow missiles a new escalation of the conflict. The Russian attack, if confirmed, would be the first use of such weapons since their development at the start of the Cold War.

” Trump’s victory raises geopolitical uncertainty and this also reduces trust,” explains Daniel Murray, CEO of EFG Asset Management in Switzerland. “Ukraine now has an incentive to gain as much strategic advantage as possible before Trump’s inauguration.”

Uncertainty is also being felt in fixed income markets, where investors are also still waiting to hear from President-elect Donald Trump’s nominee for new Treasury secretary.

Meanwhile, Boston Federal Reserve Bank President Susan Collins signaled that further interest rate cuts are needed, but that policymakers should tread carefully to avoid cutting rates too quickly or too slowly. Swap market prices indicate there is less than a 50% chance that the Fed will cut rates again in December.

At the moment, the yield on US ten-year bonds remains more or less stable at 4.403%. In turn, the two-year bond yields 4.304%.

What doesn’t seem to be slowing down for now is Bitcoin’s rally as it approaches $100,000. The price of the popular cryptocurrency rises to $98,367.00 and pulls shares related to the crypto sector with it. Cryptocurrency exchange Coinbase was up 3% in premarket trading, while Microstrategy, which trades as a Bitcoin indicator, was up 11%. Mining stocks are also rising, with Mara Holdings up 9%.

In commodity markets Oil prices are rising amid the escalation of the war in Ukraine: Brent exceeded $74. There have also been some bullish signs in prices in recent days, with premiums for refined products over crude oil rising to multi-month highs. In the United States, profits from refining crude oil into gasoline and diesel fuel rose to the highest level since August as Gulf Coast fuel producers increased production to meet rising exports.

West Texas futures rose 2.07% to $70.12 a barrel, while European benchmark Brent was at $74.13, up 1.80%.

Meanwhile, the price of gold rose for the fourth day in a row, and demand for safe havens showed no signs of slowing. Spot gold rose 0.85% to $2,672.57 an ounce.