The Cac 40 drifted against the broader trend on Thursday, according to Les Echos, while US markets rallied on the back of Nvidia's quarterly results. The French index moved lower even as investor sentiment in New York turned upbeat following the chipmaker's earnings release.
Wall Street closed in positive territory, with Nvidia's performance and reassuring outlook driving gains, Boursorama reported. The company added roughly $450 billion to its market capitalization in a single session, according to Zonebourse, a move that lifted the entire US market.
Nvidia's results were described as "stratospheric" by BFM Bourse, with the company seeking to calm investor nerves about the sustainability of demand for its AI products, as Le Monde reported. The chipmaker's forward guidance appeared to address concerns that had been building among market participants about a potential slowdown in AI spending.
The positive reception on Wall Street contrasts with the more cautious tone in Paris, where the Cac 40 failed to join the advance. The divergence highlights how much weight investors are placing on AI-related earnings as a driver of broader market sentiment.
The reports come ahead of the Federal Reserve's Jackson Hole symposium, an event that typically draws attention from traders looking for signals on monetary policy. Les Echos noted the timing of Nvidia's publication in relation to the central bank gathering.
The key question now is whether Nvidia's momentum can hold and whether the Fed's messaging at Jackson Hole will reinforce or temper the current risk appetite in markets.
