- Mixed sentiment in Asia and weakness in China are not putting pressure on indices in Europe. DAX, CAC40 and FTSE contracts gain slightly.
- Wall Street contracts are seeing limited volatility in anticipation of Nvidia's results (today, after the U.S. session) - rising slightly.
- In addition to the NVDA report, the focus today will be on the change in oil inventories according to the EIA and secondary data from Europe.
The current week is not particularly important, due to macro publications, and today's calendar will be very light in this regard. During the session on the Old Continent, attention will focus on the ZEW index, from Switzerland, consumer sentiment in France and industrial sales from Italy. Mann, from the Bank of England, will speak at around 3:15 pm BST. During the session on the other side of the Atlantic, EIA data, on oil inventories, will be most strongly awaited. At 2:00 pm BST, investors will also learn updated mortgage applications in the US.
A weaker-than-forecast quarterly report from Nvidia, or more cautious forward guidance, could lead to a downward market reaction. On the other hand, exceeding both of Wall Street's 'bar' set for the company could lead to a rise in stock prices to new historic highs. ORATS data show that the market expects about 10% volatility after the results, which would imply a $300 billion change in capitalization - more than the capitalization of Netflix or Merck. Since the beginning of the year, Nvidia, after a 150% rally, has been responsible for about 18% of the S&P 500 index's growth to date.
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Open account Try demo Download mobile app Download mobile app- 07:45 am BST: Consumer confidence index from France. 92 Expectations: 92 Previous: 91
- 09:00 am BST: ZEW Index, from Switzerland. Previously: 9.4
- 09:00 am BST: M3 money supply in the eurozone. Expectations: 2.7% Previously: 2.2%
- 3:30 pm BST: Change in oil inventories from the US. Expected: -2.77 million barrels vs -4.64 million previously
- Change in gasoline inventories. Expectations: -2.15 million barrels vs -1.6 million previously
- Change in distillate stocks. Expectations: -815,000 barrels vs -3.3 million previously
Central bankers' speeches:
- 01:15 pm BST: BoE, Mann
- 11:00 pm BST: Fed, Bostic
Nvidia results - after the Wall Street session (around 11:30 pm BST)
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