By Sinéad Carew and Danilo Masoni
NEW YORK/MILAN, Aug 27 (Reuters) - MSCI's global equities gauge rose on Thursday as Nvidia's bullish outlook boosted technology shares while U.S. Treasury yields rose before a speech from Federal Reserve Chair Kevin Warsh.
The dollar was virtually unchanged as traders turned their focus to Warsh's scheduled appearance at the central bank's Jackson Hole symposium on Friday with hopes for clues on interest rate policy.
On Wall Street, the heavyweight S&P 500 technology sector rallied 3.4% and was the sole gainer among the benchmark index's 11 major sectors. Technology stocks had also rallied in Europe after AI chip leader Nvidia forecast roughly 70% revenue growth for its upcoming fiscal year ending in January 2028.
"Technology created the money flow today. It's attracting all the capital," said Brett Ewing, chief market strategist at First Franklin Financial Services, who said Nvidia's results and executive commentary answered many questions that investors had about the AI boom. "AI is here to stay. It's going to grow. It's compounding faster and faster ... we're not near the peak of the infrastructure buildout."
#rallied #york
NEW YORK/MILAN, Aug 27 (Reuters) - MSCI's global equities gauge rose on Thursday as Nvidia's bullish outlook boosted technology shares while U.S. Treasury yields rose before a speech from Federal Reserve Chair Kevin Warsh.
The dollar was virtually unchanged as traders turned their focus to Warsh's scheduled appearance at the central bank's Jackson Hole symposium on Friday with hopes for clues on interest rate policy.
On Wall Street, the heavyweight S&P 500 technology sector rallied 3.4% and was the sole gainer among the benchmark index's 11 major sectors. Technology stocks had also rallied in Europe after AI chip leader Nvidia forecast roughly 70% revenue growth for its upcoming fiscal year ending in January 2028.
"Technology created the money flow today. It's attracting all the capital," said Brett Ewing, chief market strategist at First Franklin Financial Services, who said Nvidia's results and executive commentary answered many questions that investors had about the AI boom. "AI is here to stay. It's going to grow. It's compounding faster and faster ... we're not near the peak of the infrastructure buildout."
#rallied #york
19 days ago
