Good Morning Early, Readers!!
Wall Street’s key indexes started Thursday’s trade with solid gains, but worries of an AI bubble weighed on US stocks into the close.
NVIDA was down 3.2% at the close – making it one of the worst-performing Dow Jones stocks of the day – as AI bubble worries resurfaced.
Gift Nifty takes over the negative baton from weak overnight lead from Wall Street indicating an up-and-down session for the benchmark Nifty.
6:00 AM GLOBAL UPDATE:
GIFT Nifty 🇮🇳: (-73, 26145)
Dow Futures: (+173, 45925)
Nasdaq 100 Futures (+76, 24130)
Nikkei (1119, 48705)
Hang Seng (Closed, 25836)
Dow Jones (-387, 45752)
Nasdaq Composite (-486, 22078)
Bovespa (-1141, 155381).
Wall Street’s key indices kicked off Thursday with a strong rally, fueled by Nvidia’s upbeat earnings and a surprisingly robust September jobs print. Early optimism saw the major indices surge between 1.3% and 2.1% at the open, with bulls firmly in control.
But the bullish momentum didn’t last.
As the session progressed, sentiment reversed sharply. Nvidia slipped from its early highs, and expectations for a December Fed rate cut weakened, triggering a broad selloff.
By the closing bell, the gains had fully evaporated:
Dow Jones: -0.84% at 45,752
S&P 500: -1.56% at 6,538
Nasdaq Composite: -2.15% at 22,078
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