London Stocks Edge Up Amid Nvidia Earnings, US Inflation Watch
The London stock market is set to open higher on Wednesday as investors eye key US economic data and quarterly results from Nvidia. The FTSE 100 index is expected to rise around 13 points at the open, driven by optimism over US inflation and earnings.
Nvidia's results are due after the close of US markets, with analysts predicting a 'monster' revenue report exceeding $92.05 billion for the last quarter. The company's performance will also provide insight into demand for AI infrastructure and its competitiveness in China.
Meanwhile, investors will be watching US core PCE inflation data, which is due out at 1330 BST. This figure is closely watched by the Federal Reserve as a key measure of inflation, and any deviations from expectations could impact market sentiment on interest rates.
Other economic indicators, including the second estimate of Q2 GDP, will also be under scrutiny. However, UK corporate news was relatively thin, with gold miner Hochschild Mining posting a sharp jump in first-half revenue and profits, but also flagging a rise in attributable all-in sustaining costs.