Morning Bid: Everyone loves CoreWeave

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A look at the day ahead in European and global markets from Stella Qiu Just as investors were hoping falling oil prices had cooled inflation fears, a stubbornly hot US CPI report…

A look at the day ahead in European and global markets from Stella Qiu

Just as investors were hoping falling oil prices had cooled inflation fears, a stubbornly hot US CPI report ‌and a chorus of hawkish Fed speak reminded everyone that the question isn't whether rates rise again, ‌it is by how much.

Overnight core inflation landed smack on 0.3%, exactly the number Fed Governor Waller had flagged would get him mulling ​a jumbo 50-basis-point hike in December. Two-year Treasury yields surged 18 basis points overnight, with the selling spreading to bond markets across Asia.

A quarter-point rate hike in December is now fully priced in, with a 10% risk that the Fed could even hike by 50 bps. Goldman Sachs was quick to call another one in March. Markets went even further to ‌price in a third rate rise ⁠by the middle of next year.

The dollar surged and the whipping boy was the Aussie, which slid nearly 1% overnight to hit seven-month lows as traders bet its central bank ⁠is done tightening after five rate hikes this year and cuts could even arrive next year.

Stocks were bracing for a shaky open in Asia but proved resilient, with bubble fears flaring and fading almost by the hour.

CoreWeave, the firm at the centre ​of ​AI bubble fears, showed the boom isn't short of customers. ​Revenue jumped 168%, sending its shares up 8% ‌in extended trading after a 40% slide over the past month. The AI cloud company even forecast a path to profitability in the first half of 2028.

Nvidia's selloff also steadied after two days of steep losses wiped a stunning $430 billion off its market value, as speculation swirled over whether CEO Jensen Huang would stay on following his affair with a suspected Chinese spy.

Throw in Anthropic pressing ahead with its $1.4 trillion IPO, and risk appetite found its footing ‌again: Nasdaq futures rallied 1.3%, lifting Taiwanese and South Korean shares ​up by 2.7% and 2.1%.

Début de l'article, extrait de Yahoo Finance. Pour lire la suite, ouvrez l'article chez le média.