US Markets Surge on Nvidia Earnings as Tariff Rumors Surface

US markets began Thursday with a positive tone, driven by strong earnings from Nvidia and Salesforce. The tech giant's shares rose over 7% after beating top and bottom line estimates in its Q2 report. CEO comments suggested demand acceleration and expected revenue growth of about 70% in fiscal 2028.

The US White House is reportedly considering a new round of tariffs on chips, according to Politico sources. This news had a mild impact on the market but was quickly overshadowed by Nvidia's stellar guidance and earnings beat.

European bourses began trading with a negative bias, except for the DAX 40 index which benefited from the read-across of Nvidia and Salesforce's upbeat results. The KOSPI closed with gains of 1.5% overnight, as chipmakers generally performed well.

In FX markets, G10 currencies were largely flat against the US dollar, with no significant surprises from BoJ Deputy Governor Himino's comments. The USD/JPY exchange rate remained range-bound within 159.30-40.