FX.co ★ US Stocks Set to Rebound Sharply on Nvidia, NFP

On Thursday, futures linked to U.S. stocks experienced a notable surge, driven by robust performance reports from Nvidia, which bolstered the fundamental outlook for AI services and infrastructure. This upswing occurred as markets were simultaneously digesting a series of mixed employment data. The Nasdaq 100 was poised for a 2.3% increase at the opening, while the S&P 500 and Dow Jones were expected to rise by 1.7% and 1%, respectively. Nvidia's stronger-than-anticipated sales and positive forward guidance dispelled some concerns about the high valuations in AI companies, sparking a rebound in stock prices. Futures for AMD and Broadcom each climbed approximately 6%, while Oracle saw a 3% advance. In addition, Walmart enhanced its sales forecast for the current year, citing stronger digital transactions and elevated purchases from price-sensitive consumers. In labor market news, the delayed September report showed non-farm payrolls growing more than twice what was expected, leading to speculation that, despite rising unemployment, the Federal Reserve might decide to maintain interest rates in the upcoming month.