Global Markets Await Nvidia's Earnings Report
While global markets turn their eyes to Nvidia's earnings report, expectations of easing tensions in the Middle East and Canada's preparations for retaliatory steps against tariffs are being monitored.
Global financial markets are focused on the critical earnings report to be released by chipmaker Nvidia. While expectations that geopolitical risks in the Middle East might ease brought sharp declines in energy prices, the Canadian administration decided on approximately $20 billion in retaliatory measures against US tariffs.
Nvidia Earnings and Global Markets
Global stock exchanges are awaiting the financial results to be announced by chip giant Nvidia. Analysts state that this earnings report will test the artificial intelligence rally in the markets, and even a slight potential negative from the company could affect pricing.
Geopolitical Developments and Oil Prices
Expectations that diplomatic contacts may restart in the Middle East reduced concerns regarding energy supply. While the barrel price of October Brent crude fell by 3.9% to $88.6, this decline also led to a drop in US bond yields.
Canada's Retaliation Against US Tariffs
The Canadian government responded to the 50% customs duty imposed by the US on many Canadian products. Starting September 8, the country will apply retaliatory tariffs ranging from 15% to 50% on approximately $20 billion worth of US products.
Trend in European and Asian Stock Exchanges
European stock markets followed a positive course except for France, while Germany's second-quarter growth data exceeded expectations. On the Asian side, technology and semiconductor stocks showed a tendency to recover ahead of Nvidia's earnings report.
Decline in Turkey's Credit Risk Premium
While the BIST 100 index on Borsa Istanbul completed the day with a 0.19% decrease, Turkey's 5-year credit risk premium dropped to 217 basis points, reaching its lowest level since February 18, amid expectations that geopolitical risks might diminish.