Equity Markets Shrug Off Nvidia's Disappointing Sales Guidance

Nvidia softens revenue guidance, even as the AI capex boom is poised to accelerate

Highlights

• Nvidia softens revenue guidance, even as the AI capex boom is poised to accelerate

• Bonds rally across the Treasury curve…

• … except the long bond, amid turmoil at the Fed

• Three of the standard recession milestones have already hit peaks and are declining

Key Takeaways

• Nvidia’s Earnings Fail to Disrupt the Risk-On Mood: Equity markets have taken Nvidia’s disappointing revenue guidance (and softer-than-expected results from its data center business — a small miss, but a rare miss nonetheless) in stride, with U.S. futures in the green right across the board.