Morning Bid: Nvidia beats, but fails to provide spark

Investors hoping that Nvidia’s eagerly-awaited earnings after the U.S. close on Wednesday would inject renewed vigor into world markets will be disappointed, heralding the prospect of a lukewarm open in Asia on Thursday. Wall Street spent all day Wednesday firmly in the red before a late rally, bond yields and the dollar were higher, and a weak 20-year U.S. Treasury bond auction was a reminder of how deep Washington’s fiscal deficit runs and the strain on investors to fund it. Then came Nvidia.

AI chip leader Nvidia forecasts fourth-quarter revenue above estimates

Nvidia forecast fourth-quarter revenue above market estimates on Wednesday, betting on sustained demand for its leading AI chips from businesses racing to adopt the latest generative artificial-intelligence technology. The company forecast revenue of $37.5 billion, plus or minus 2% for the fourth quarter, compared with analysts’ average estimate of $37.09 billion according to data compiled by LSEG.