Global stocks steady amid Nvidia and US rate outlook

Global equities traded steadily on Thursday, supported by Nvidia's strong sales growth outlook. The company announced a nearly 70% increase in revenue for the fiscal year ending in January 2028, surpassing analyst expectations. Nvidia's results and optimistic guidance helped lift technology shares, with the MSCI Asia-Pacific Index rising by 0.3% and the South Korean KOSPI index gaining 1.5%. On the other hand, inflation pressures and economic data releases kept market gains in check, especially with the Consumer Spending Price Index increasing by 0.2% in July, reflecting continued inflationary pressures. Investors are also awaiting the Federal Reserve Chair’s speech to gauge the future direction of interest rates, amidst a decline in 10-year U.S. Treasury yields to 4.644%.

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