Economic Events

  • 08:00: (AU) RBA’s Plumb-Speech
  • 09:00: (AU) RBA’s Hauser, Jones, McPhee-Testimony
  • 10:30: (AU) Australia to Sell A$2 Billion 119-Day Bills
  • 10:30: (AU) Australia to Sell A$1 Billion 70-Day Bills
  • 11:00: (AU) Australia to Sell A$150 Million 2% 2035 Inflation-Linked Bonds
  • 11:30: (AU) 4Q Private Capital Expenditure, est. 0.5%, prior 1.1%

The world’s largest technology shares whipsawed in late hours as Nvidia Corp.’s outlook failed to inspire investors waiting for more.

A $330 billion exchange-traded fund tracking the Nasdaq 100 (QQQ) fluctuated after the close of regular trading. The giant chipmaker that’s seen as a barometer for AI gave a bullish revenue forecast for the current quarter, but gave up an initial rally that followed its results.

Sales will be about $43 billion in the fiscal first quarter, which runs through April, the company said. Analysts had estimated $42.3 billion on average, with some projections ranging as high as $48 billion. Gross profit margins also will be a bit short of projections.

“On an absolute basis, the Nvidia report is solid/fine, although not perfect, with the shortfall in networking sales and weak GM guidance both blemishes that offset in part the extremely robust demand for Blackwell,” wrote Adam Crisafulli at Vital Knowledge.

To Derren Nathan Hargreaves Lansdown, Nvidia has swept aside concerns about production of its Blackwell chips, and threats to the boom in demand for computing power with top and bottom line beats for the fourth quarter, and guidance for the current quarter ahead of expectations.

“The shares were up strongly in anticipation of a good out turn, so perhaps little surprise that slightly softer-than-expected gross margin guidance has kept a lid on a further big uplift in after-hours trading,” he said.

In the run-up to Nvidia’s results, stocks churned as traders processed a barrage of statements from President Donald Trump on trade policy. Bonds climbed after a solid $44 billion auction of seven-year notes.

The S&P 500 was little changed. The Nasdaq 100 added 0.2%. The Dow Jones Industrial Average slid 0.4%.

The yield on 10-year Treasuries fell four basis points to 4.25%. The dollar rose 0.1%.