- Nasdaq futures rose and chipmakers surged as Nvidia's strong sales estimate fueled gains in firms related to the artificial intelligence mania.
- Nvidia shares rose 27% in premarket trading in the United States after the company's prediction for rising revenue stunned even the most bullish Wall Street analysts, bringing the company to the brink of a $1 trillion market cap. Futures on the Nasdaq 100 rose 1.8%, while ASM led the STOXX 600 Index higher.
- It's another indication that investors are prepared to flock into promising tech equities, despite mounting concerns about China's economy and a potentially disastrous US debt default. Fitch Ratings has cautioned that the United States' AAA rating is under threat, but it remains optimistic that policymakers will strike a solution before time runs out.
- Treasury bill yields due to mature early next month jumped above 7% on Wednesday, with rates for the June 1 and June 6 maturities rising by more than a percentage point. These securities are thought to be the most vulnerable to nonpayment if the government's borrowing capacity is depleted.
- Money Markets fully price 100bps of BoE rate hikes by December.
- The German economy suffered a winter recession.
