Across 47 countries, stocks worldwide rise 0.2 percent
ALBAWABA – Stocks worldwide continued their rally on Thursday on news of Nvidia’s outstanding economic performance and forecasts for the third quarter of the year 2023, news agencies reported.
Globally, the MSCI world equity index, which tracks shares in 47 countries, gained 0.2 percent, Reuters reported.
Futures contracts for the S&P 500 climbed 0.7 percent, while those for the Nasdaq 100 advanced more than 1 percent, adding to Wednesday gains, according to Bloomberg.
Better-than-expected earnings from Nvidia stoked the upswing.
The chip-maker forecast quarterly sales to reach $16 billion, eclipsing the $12.5 billion anticipated by analysts.
European stocks, STOXX, hit one-week highs as they headed for a fourth straight day of gains, adding as much as 1 percent before falling back, Reuters reported.
Chipmakers buoyed the tech sector, SX8P, after Nvidia's third-quarter revenue forecast beat expectations by billions of dollars.
Meanwhile, rate-sensitive real estate stocks, SX86P, also rose, adding as much as 2.1 percent.
Overall, the Stoxx Europe 600 index climbed 1 percent, with Infineon Technologies AG up as much as 2.5 percent, according to Reuters.
Asian shares also advanced more than 1 percent, while stocks in Hong Kong headed for their best day in a month, led by tech stocks, as reported by the Canada-based news agency.
Market summary by Bloomberg:
The Stoxx Europe 600 rose 0.7 percent as of 8:16 a.m. London time
S&P 500 futures rose 0.6 percent
Nasdaq 100 futures rose 1.2 percent
Futures on the Dow Jones Industrial Average were little changed
The MSCI Asia Pacific Index rose 1 percent
The MSCI Emerging Markets Index rose 1.5 percent
