Bullish rebound in markets following Nvidia earnings

By Farah Mourad | 22 February 2024

Market open
  • Market sentiment remains bullish despite concerns from the Federal Reserve meeting

  • Nvidia's earnings spark market surge

  • Gold remains above $2025 per ounce

Stock Market

Despite concerns expressed in yesterday's minutes from the Federal Reserve meeting about potential dangers associated with early interest rate cuts, markets returned to a bullish stance. This bullish sentiment was fueled by better-than-expected financial results from Nvidia, with stock spiking by over 9% after the closing of the Wall Street cash session.

  • Revenue (Q4 2023): $22.1 billion vs. $20.41 billion exp. (265% YoY and 22% sequentially)
  • Earnings per share (Non-GAAP): $5.16 ($4.93 GAAP) vs. $4.63 exp.

Sentiments in the Asia-Pacific markets today were predominantly bullish, with Japan's Nikkei 225 index notably reaching new historical highs. While European futures indicate a higher opening for the trading session today.

Key events to watch out for today include PMI data releases for February, ECB minutes, U.S. jobless claims data, CBRT's decision on interest rates, and the HICP inflation report in the Eurozone.


In commodities trading, Private API surveys on changes in oil inventories showed a larger build than expected. While gold remains on a high note today above the support of $2025 per ounce.


The U.S. Dollar is currently underperforming compared to major currencies, while the New Zealand Dollar and the Australian Dollar are currently the best-performing currencies. This shift comes as inflation numbers from New Zealand showed higher-than-expected figures.