Equity investors stepped cautiously Wednesday ahead of key US data and the release of earnings by tech titan Nvidia that could shine a light on demand for all things artificial intelligence after this year’s tech-led markets rally.
While a Federal Reserve interest rate cut next month is baked into prices, traders are also keenly awaiting next week’s crucial non-farm payrolls figures, which are seen as key to determining how big the central bank goes.
Traders remain largely upbeat, with August’s early rout — sparked by US recession fears and a Bank of Japan rate cut — in the rearview mirror and some markets within a whisker of records touched this year thanks to the tech-fuelled rally.
On Tuesday, the US Conference Board’s consumer confidence survey for August beat expectations and came in at its highest level since February.
The news had minimal impact on markets, with all three main indexes …