Nasdaq Futures Edge Up Pre-Bell as Nvidia Shares Steady After Earnings, Treasury Yields Rise Following Hawkish FOMC Minutes
💡 Nasdaq futures edge up pre-bell as Nvidia shares steady after earnings, while treasury yields rise following hawkish FOMC minutes.
The Nasdaq futures edged up pre-bell on Thursday, with shares steady after beating earnings estimates. However, the optimism was short-lived as treasury yields rose following hawkish FOMC minutes.
Treasury Yields Surge
The 10-year Treasury yield surged to 4.8% in the aftermath, its highest level since October 2023. fell sharply as bond traders repriced the timing of the first cut from March to June.
Nvidia Earnings Steady
shares remained steady after beating earnings estimates, with revenue rising 10% year-over-year to $8.3 billion. The company's gross margin also expanded to 68.3%, beating expectations.
Market Reaction
The market reaction to the FOMC minutes was swift, with the Dow Jones Industrial Average plummeting 100 points in the first hour of trading. The S&P 500 also fell 0.5%, with the tech-heavy Nasdaq Composite shedding 0.3%.
What It Means for Investors
💬 The hawkish FOMC minutes and rising treasury yields suggest that interest rates may remain elevated for longer. This could have significant implications for investors, particularly those holding high-growth stocks. Do you think will hold above $250? Share your view in the comments.
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