A rocket lit up the night skies of Wall Street. Nvidia, the company that designs chips for artificial intelligence, has tore up market forecasts: 11 billion in revenues for the quarter against the 7,2 expected. The upward revision, as well as the excellent forecasts for the next quarter, have given wings to the stock which on Wall Street, in after-hours trading, reaches a gain of +28% for a capitalization of 960 billion dollars. But the boom has infected other stocks in the sector. Reuters calculates that, overnight, theArtificial intelligence it grew by $300 billion. We need to go back 30 years, to the debut of Netscape, the ancestor of search engines, to see such euphoria again.
Nvidia's performance changed the trend of the stocks last night, the future of the index this morning Nasdaq rises by 1,3%. The tech index closed down 0,6%. S & P 500 - 0,4%.
Fitch puts the American triple A under observation
The boom largely compensated for the negative effect of the hitherto inconclusive negotiations on the federal debt ceiling. The agency Fitch decided to put the ratingwith negative implications.
Market rates are rising. Ten-Year Treasury Notes hit 3,75%, up from 3,68% yesterday. The minutes of the last meeting of the monetary policy committee showed that the Federal Reserve is divided on the continuation of the crackdown on inflation. A part of the members says to go ahead and a part, supported by the president Powell, proposes a stop, just to see if the previous increases have been enough.
The dollar appreciates and reaches a two-month high. The cross euro dollar it touches 1,074.
Milan in red attempts redemption
The wind from Wall Street could be felt as trading starts in Europe. The bags futures of the EuroStoxx50 index should open slightly higher, +0,2%.
IERI (Yesterday) the lists, conditioned by the negative start of the American lists, by inflation in the UK and by the negative data of the German Ifo index, closed in deep red.
Milano -2,39% was the worst. The 4,33-year BTP restarts from XNUMX%.
The government will send by July the review of his plan Pnrr in Brussels in agreement with Europe.
South Korea does not touch rates
In Asia Pacific. Nikkei of Tokyo +0,6%. Hang Seng Hong Kong down 2%. CSi 300 of the Shanghai and Shenzen lists -0,5%.
Il Kospi of Seoul marks a decrease of 0,5%. South Korea's central bank confirmed rates at 3,5%, as expected. Deutsche Bank analysts expect the first rate cut to take place in 2024: the cross shouldn't move much until the end of the year.
Stable oil, gas lower and lower
Il Petroleum Brent and WTI are flat after three consecutive days of gains. Last week, US inventories recorded a sharp and unexpected decline.
Gas US natural gas 2,39 dollars, European gas yesterday -4,6% to 27,80 euros/mWh, on new lows since December 2021.
Gold down 0,9% yesterday, flat this morning.
Generali goes up thanks to the non-life business
The results came out at dawn quarterly di Generali. The company confirmed today all the objectives of its industrial plan for 2024 after recording an increase in profits in the first quarter thanks to the strong contribution of its non-life activities.
The normalized net result for the first three months of 2023 rose to 1,23 billion euros, with an increase of 49,7% compared to the previous year, while the operating result, the figure most followed by the market, grew by 22,1 .1,82% to XNUMX billion euros.
Starting this quarter, writes the insurance group in a note, Generali has introduced a new definition of normalized net result to better reflect the underlying business dynamics.
