Business & Markets
Nvidia lifts tech stocks as Fed caution weighs
Nvidia’s earnings lifted technology stocks on Thursday, but broader market moves were muted as investors waited for Federal Reserve chair Kevin Warsh’s Friday speech at the Jackson Hole central bankers’ conference.
Nvidia, described as the world’s largest company by market value, reported second-quarter revenue of $96 billion, more than double a year earlier. Its shares rose nearly 9%.
Salesforce also supported technology shares, rising more than 22% after reporting better-than-expected results and citing demand for AI and data products.
Around 2015 GMT, the Nasdaq was up 1.0% at 26,401.45, the S&P 500 was up 0.5% at 7,713.67 and the Dow Jones Industrial Average was up 0.3% at 53,611.34. The gains were not broad-based: technology was the only S&P 500 sector to advance, while consumer discretionary was the biggest losing sector.
European markets were mixed. London’s FTSE 100 closed down 0.8%, Paris’s CAC 40 closed down 1.7% and Frankfurt’s DAX closed up 0.3%. In Asia, Tokyo closed down 0.2%, Hong Kong fell 0.3% and Shanghai gained 1.1%.
Investors were looking to Warsh’s speech for signals on interest rates and inflation. Art Hogan of B. Riley Wealth said investors had been frustrated by a lack of clarity on what would lead the Federal Reserve to change rates while inflation remained above target.
Oil prices rebounded as investors watched diplomatic efforts to reopen the Strait of Hormuz to tanker and cargo traffic. US officials have vowed further economic pressure to make Iran open the strait after six months of war. David Morrison, senior market analyst at Trade Nation, said shipping data continued to show traffic through the strait at a fraction of pre-war levels.
Brent crude was up 2.1% at $89.70 a barrel, while West Texas Intermediate was up 1.6% at $83.53.
French drinks group Pernod Ricard fell 4.4% after reporting a 26% drop in annual profit, which it attributed to lower sales in the United States and China.
Update
Nvidia shares were up nearly 9% after its second-quarter revenue more than doubled to $96 billion.
Salesforce shares rose more than 22% after reporting better-than-expected results.
Around 2015 GMT, Brent crude was up 2.1% at $89.70 a barrel and West Texas Intermediate was up 1.6% at $83.53.
Only the technology sector advanced among the 11 S&P 500 industrial sectors, while consumer discretionary was the biggest losing sector.
Source note: AFP news report published on 27 August 2026 at 20:54:27 UTC.
Update
Nvidia shares were up more than 7% in midday trading.
Around 1550 GMT, the Nasdaq was up 1.0%, the S&P 500 up 0.5% and the Dow up 0.3%.
European markets had closed mostly lower, with London down 0.8% and Paris down 1.7%, while Frankfurt closed up 0.3%.
Brent crude was up 0.5% at $87.36 a barrel and West Texas Intermediate was up 0.2% at $82.37.
Pernod Ricard shares were down 4.4% after the company reported a 26% drop in annual profit.
Source note: AFP news report published on 27 August 2026 at 15:59:10 UTC.
Update
Nvidia shares jumped nearly 7% at the Wall Street open after reporting second-quarter revenue of $96 billion.
Around 1350 GMT, the Nasdaq was up 0.9%, the S&P 500 was up 0.3% and the Dow was flat.
European indexes were mostly lower, with Paris down 1.6% and London down 0.6% around 1350 GMT.
Oil prices rebounded, with Brent up 0.9% at $87.70 a barrel and West Texas Intermediate up 0.6% at $82.73.
Pernod Ricard shares fell 7% after the company reported a 26% fall in annual profit to 1.2 billion euros.
Source note: AFP news report published on 27 August 2026 at 14:05:23 UTC.
Update
Nvidia shares rose more than 6% in pre-market trading ahead of Wall Street's open.
European markets were mixed around 1115 GMT, with Paris down 1.1%, London down 0.5% and Frankfurt up 0.3%.
Brent crude was up 0.7% at $88.47 a barrel and West Texas Intermediate was up 0.2% at $82.40 a barrel around 1115 GMT.
Jim Reid of Deutsche Bank said the details of the July core PCE inflation release were more inflationary, although the figure was in line with consensus.
Source note: AFP news report published on 27 August 2026 at 11:38:08 UTC.
Update
Hong Kong's Hang Seng Index was down 0.3% at 25,565.74 at the close around 0810 GMT.
London's FTSE 100 was down 0.5% at 10,828.07 around 0810 GMT.
West Texas Intermediate was down 1.5% at $81.02 a barrel and Brent was down 1.2% at $86.78 a barrel around 0810 GMT.
US futures were higher, while London and Paris fell and Frankfurt edged up.
Source note: AFP news report published on 27 August 2026 at 08:22:24 UTC.
Update
Later market figures showed SK hynix up 2.5%, Samsung up 1.7% and Kioxia up 5%.
Shanghai closed up 1.1%, while Tokyo closed down 0.2% and Hong Kong was down 0.3%.
Bangkok and Jakarta joined Seoul, Shanghai and Taipei among rising markets, while Mumbai joined several declining markets.
London and Paris opened lower, while Frankfurt edged up.
WTI fell 1.4% to $81.10 and Brent fell 1.3% to $86.70 around 0715 GMT.
Source note: AFP news report published on 27 August 2026 at 07:26:47 UTC.
Uncertainty notes
The source text says the Nasdaq gained 1.6% in one passage but lists it as up 1.0% around 2015 GMT in the key figures.
Source
AFP news report published on .