CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 80.96% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Open platformOpen platform

LIVE MARKETS-Before the bell: Europe futures soft, Nvidia dents tech bounce

By Reuters News

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at markets.research@thomsonreuters.com


BEFORE THE BELL: EUROPE FUTURES SOFT, NVIDIA DENTS TECH BOUNCE

European futures were just slightly lower on Monday as a degree of calm returned to markets after a bruising week driven by concerns that a Democratic sweep in the US midterm elections could lead to tighter AI regulation.

Investors picked up battered tech stocks after Friday's bounce on Wall Street. Asian shares rebounded, with chipmakers lifting the Taiwan benchmark .TWII by 5% after autorities activated measures to stabilise the stock market.

Sentiment however remained fragile after an internal Nvidia NVDA.O investigation into whether CEO Jensen Huang had been targeted by a foreign intelligence effort put his future at the AI chipmaker under scrutiny. Its shares fell 6% in Frankfurt.

Contracts on the EuroSTOXX50 .STOXX50E benchmark fell 0.2%, while Nasdaq and S&P 500 futures were down 0.7% and flat, respectively. Oil prices, meanwhile, fell after President Donald Trump downplayed the likelihood of new strikes on Iran.

In European corporate news, banks were in focus.

Banco BPM BAMI.MI was set for a strong rally after Credit Agricole CAGR.PA proposed merging the Italian lender with its local unit, while UniCredit CRDI.MI raised its profit goal as it prepares to take control of Commerzbank CBKG.DE.

A JP Morgan upgrade to overweight lifted software group SAP SAPG.DE by almost 2% in premarket trade. Hochtief HOTG.DE was called down sharply after Spanish builder ACS ACS.MC denied plans to take over its German unit.

Investors' attention will later turn back to tech, with results from CoreWeave CRWV.O, Applied Materials AMAT.O and Cisco Systems CSCO.O expected to provide new insight into whether hefty AI-related spending is translating into profits.

US CPI data on Tuesday could also test markets.


(Danilo Masoni)


EARLIER ON LIVE MARKETS:

FRAGILE CALM AFTER AI WHIPLASH CLICK HERE

Capital.com is an execution-only brokerage platform and the content provided on the Capital.com website is intended for informational purposes only and should not be regarded as an offer to sell or a solicitation of an offer to buy the products or securities to which it applies. No representation or warranty is given as to the accuracy or completeness of the information provided.

The information provided does not constitute investment advice nor take into account the individual financial circumstances or objectives of any investor. Any information that may be provided relating to past performance is not a reliable indicator of future results or performance.

To the extent permitted by law, in no event shall Capital.com (or any affiliate or employee) have any liability for any loss arising from the use of the information provided. Any person acting on the information does so entirely at their own risk.

Any information which could be construed as “investment research” has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication.