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Premarket: Global stocks boosted by Nvidia rally

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U.S. markets are closed on Wednesday, which will likely result in muted trading throughout the day

Global stocks hit record highs on Wednesday, driven by a rally in tech shares that has made AI chipmaker Nvidia theMSCI’s All-World index was up 0.2 per cent at 805.13, having traded at an all-time high of 805.43.

The fall in inflation will be welcomed by both Prime Minister Rishi Sunak and the Bank of England - but likely has come too late either to turn around Sunak’s fortunes at next month’s election or to prompt a BoE rate cut on Thursday. The single currency has been under pressure in the wake of French President Emmanuel Macron calling for a snap election after his ruling centrist party was trounced by the far right in the European Parliament elections.

Last week, mild U.S. inflation readings contrasted with an overall hawkish stance by Fed officials, who trimmed their previous median projection for three quarter-point rate cuts this year to one.

 

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