Welcome to Thursday, the first session after a very eventful Wednesday. The key event was earnings from Nvidia, published after the market close. Both EPS and revenue came in well above expectations. Despite the strong numbers, the after-hours reaction was muted, with Nvidia trading more or less flat. No major shock, but importantly, no disappointment either.
That was enough to preserve the bullish mood in equities. Indices have been pushing higher for the past three sessions, and the positive tone remains intact. The absence of negative surprises from Nvidia supports risk sentiment, especially in the tech-heavy segments of the market.
Interestingly, today’s macro calendar is light. Thursdays are often packed with US data, but this time there are no major releases scheduled. That leaves markets more technically and sentiment-driven.
In FX, the Japanese yen is recovering. After heavy losses yesterday, yen pairs rallied sharply, but during the Asian session today we are seeing a correction. The yen is gaining back some ground. At the same time, the US dollar and Canadian dollar are under pressure.
Commodities are broadly positive. Both metals and oil are trading higher, aligning with the constructive tone in equities. There is no aggressive move, but the bias is clearly upward.
The standout asset, however, is Bitcoin. After establishing a local bottom on Tuesday, Bitcoin has rallied nearly 10%. That rebound is significant and reflects renewed optimism in the crypto space. For now, risk appetite appears stable, with crypto showing the strongest momentum among major asset classes.
Overall, the market digested Nvidia’s earnings without disruption. Indices remain supported, commodities are firm, and crypto is leading to the upside. The lack of macro catalysts today means sentiment and technical levels will likely guide price action.