Winners And Losers: AI Versus PMI

It was a confusing day on the markets on Thursday as AI related Stocks drove higher on Nvida results, while weak purchasing managers index (PMI) readings from Australia and Japan, together with FED signals for higher rates for longer saw Asian traders favour the dollar, as business activity in both countries slowed through February. NVIDIA Corporation rose as much as 10% in U.S. aftermarket trade after clocking stronger-than-expected fourth quarter earnings, while its revenue guidance for the current quarter was also above street estimates. Gains in tech also saw the Nikkei reach an intraday record high, crossing levels last seen […]