On Thursday, US futures and European equities dipped as investors focused on company earnings. Tensions between the US and Iran kept markets on edge and pushed up oil and gold prices. The STOXX 600 index in Europe fell 0.6% after shares in planemaker Airbus and miner Rio Tinto declined following their quarterly reports that didn’t impress the market.
The index reached a new high the day before, thanks to a rise in defence and financial stocks that helped investors forget about their worries about AI destroying businesses. The US S&P 500 and tech-heavy Nasdaq futures declined by 0.34% and 0.44%, respectively, as volatility stemming from fears of A.I. disruption persisted.
Investors were processing quarterly reports, including one from Walmart, whose stock fell in pre-market trade after the company predicted that its yearly sales and profits would be lower than expected. On Wednesday, Wall Street was up because Nvidia said it had inked a multi-year deal to sell Meta Platforms millions of AI chips.
However, Nvidia, Meta, and other tech companies including Apple were down in pre-market trade. Matt Britzman, a senior equities analyst at Hargreaves Lansdown, stated that geopolitics played a role.
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