SYDNEY (Reuters) -Asian shares followed Wall Street futures lower on Thursday as Nvidia's results disappointed some bullish investors, while the dollar steadied and the Treasury yield curve came within a whisker of turning positive. Europe is set for a mixed open, with EUROSTOXX 50 futures off 0.2% and FTSE futures up 0.2%, ahead of the inflation data from Germany and Spain where any downside misses could add to the case of more policy easing in Europe. U.S. weekly jobless claims, which have gained prominence given the Federal Reserve's focus on the health of the labour market, are also due later in the day.
Kiwi rises, dollar struggles to stay afloat ahead of US inflation test
SINGAPORE (Reuters) -The New Zealand dollar made solid gains on Thursday in the wake of an upbeat business outlook survey, while the U.S. dollar failed to sustain its bounce in the run up to a key U.S. inflation reading at the end of the week. Friday's release of the core personal consumption expenditures (PCE) price index - the Federal Reserve's preferred measure of inflation - headlines a week that's otherwise been lacking on major market moving data, leaving currencies mostly rangebound. Still, the kiwi was a notable outperformer in the Asian session, scaling an eight-month top $0.6295 after a survey out on Thursday showed New Zealand's business confidence jumped in August to the highest level in a decade.
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Morning Bid: Nvidia watch party over, back to inflation vigil
It is a sea of red in Asia as AI darling Nvidia failed to meet expectations of investors who were not satisfied with its profits, revenue and outlook simply beating the Street. Nvidia shares have rallied more than 150% this year thanks to insatiable demand for generative artificial intelligence (AI), so the 7% drop in its shares after-hours could turn out to be just another dip to buy into the world's second-most valuable company. Taiwan-listed shares of chipmaker TSMC slid 2%, Nasdaq futures dropped 0.7%, and Europe is set for a lower open, with EUROSTOXX 50 futures off 0.2%.
Stock market today: Indexes slip before Nvidia reports highly anticipated earnings
Stocks dipped as traders eagerly awaited the chip giant's results. Wall Street expects Nvidia to report over $28 billion in revenue last quarter.
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Shares Dropped Nearly 7% in Extended Trading on Wednesday
Asian Chip Stocks Decline as Nvidia’s Outlook Damps AI Frenzy
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