Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

ASX 200 eases 0.1% at open, Nvidia surges after reporting results

Published 22/02/2024, 09:01 am
Updated 22/02/2024, 09:01 am
© Reuters

Investing.com - The Australian Stock Exchange is expected to open on a lower note on Thursday, with NVIDIA Corporation (NASDAQ:NVDA) surging 7.4% after-hours as the company reported quarterly results.

Buy the rumours, sell the news with InvestingPro+ - Claim an extra 10% discount on the Pro+ subscription by using the promo code "INVPRODEAL".

The Dow Jones Industrial Average and S&P 500 managed to close with a minor 0.1% gain, reversing their earlier losses in the last half-hour of trading. The NASDAQ Composite, however, reduced its initial losses to close 0.3% down after an early 1% drop.

There were advances in aluminum and nickel due to speculations that a new round of U.S. sanctions against Russia might target metals and disrupt supplies. Aluminum futures saw an initial 3.4% rise, while nickel climbed more than 3.5%.

HSBC Holdings (LON:HSBA) HSBA) PLC ADR (NYSE:HSBC) experienced a 6.6% slump, its biggest in almost four years, after reporting an 80% drop in Q4 profits due to unexpected charges. Commodities giant Glencore PLC (LON:GLEN) also reported a significant drop in earnings, leading to a 1.2% fall in its shares. These two companies were among the most significant decliners on the UK benchmark, which closed 0.8% lower.

After the closing bell on Wednesday, Rio Tinto Ltd (ASX:RIO) reported a 12% fall in underlying profit due to weaker commodity prices and rising costs. Meanwhile, French building materials giant Saint-Gobain made a $4.3 billion bid for CSR.

The minutes from the latest Federal Reserve policy meeting reaffirmed that while rates most likely have peaked, there’s no rush to pivot to cuts. This cautious stance has led to a drop in the probability of a quarter-point rate cut in May from 50% a month ago to about 30%.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.