US Stock Markets Close Lower
The US stock markets closed lower on Thursday, with the Dow Jones Industrial Average calculated at 43,240 points, a 0.5 percent decline from the previous trading day’s close.
The Nasdaq 100 fared worse, ending the day at 20,551 points, a 2.8 percent drop, while the broader S&P 500 closed at 5,862 points, a 1.6 percent decline.
Nvidia’s quarterly earnings, released after the market close on Wednesday, provided the main topic of conversation on Thursday. Initially, the company’s shares rose, only to later decline and ultimately close with a significant loss.
“Nvidia’s numbers are nothing short of impressive. The company has exceeded its own projections and set new records in its core segments, particularly in the Data Center” said Jochen Stanzl, chief market analyst at CMC Markets. However, the gains had only marginally exceeded expectations, similar to two years ago.
A critical point, repeatedly discussed during the company’s earnings conference call, concerned the impact of US trade policy. “While Nvidia strictly adheres to all applicable export controls and regulations, the future shape of tariffs and quotas remains a uncertainty factor” Stanzl added.
The European common currency was weaker on Thursday evening, with one euro costing 1.0401 US dollars and one US dollar being worth 0.9614 euros.
Gold prices, in turn, fell significantly, with one troy ounce selling for 2,872 US dollars in the evening, a 1.5 percent decline, equivalent to 88.77 euros per gram.
Crude oil, on the other hand, rose sharply, with one barrel of Brent crude costing 73.81 US dollars at around 22:00 Central European Time, a 1.8 percent increase from the previous day’s close.