The technology index Nasdaq markedly up – E24

Chip manufacturer Nvidia is leading the way in tech upswing. It comes after the company predicted 50 percent higher sales in the second quarter than Wall Street estimates.

The matter is being updated…

This is how it looks in the American markets at 19.15:

• The S & P is up 0.71 percent
• The Dow Jones falls 0.43 percent
• The Nasdaq Composite is up 1.64 percent

At the same time, a barrel of North Sea oil (burnt spot) is traded for 75.7 dollars. That’s down 3.12 percent since midnight and over two dollars less than when Wall Street closed on Wednesday.

Nvidia shoots up

It was expected that tech would rise on Wall Street before the opening, partly due to the computer chip company Nvidia’s rise.

The chip maker shot up over 26 percent in pre-trade on Wall Street. At 19.15 the share is up over 26 per cent.

With the strong increase on the stock exchange, the company is approaching a market value of 1,000 billion dollars, and may therefore soon be part of the same exclusive club as Apple, Microsoft, Alphabet and Amazon, writes CNBC.

It happens after the company reported better earnings than expected after the stock market closed on Wednesday. Nvidia forecast second-quarter sales that were 50% higher than Wall Street estimates, due to continued demand for its chips for artificial intelligence applications.

The important semiconductor companies ASML and TSMC also experienced price increases after Nvidia’s earnings became known, writes CNBC. Nvidia itself does not make the type of semiconductors that ASML and TSMC produce, and is therefore dependent on these companies for advanced equipment for its chip production.

Risks downgrading

Yesterday, all of the leading indices ended down for the second day in a row. At the same time, negotiations continued on the debt ceiling in the US between Democrats and Republicans.

Leader of the House of Representatives Kevin McCarthy said that he is not giving up, but that he is adamant that it is important that the US government spends less money next year.

Today it became known that the credit rating company Fitch has put the US’s current AAA rating on watch, and says it may be downgraded if no agreement is reached.

On Thursday, negotiations continue to raise the debt ceiling of 31,400 billion dollars.

Both sides have said they believe it is possible to find a solution by June 1, which is the earliest date when the United States could potentially be unable to pay its bills.

Wobbly world markets

Stock markets in Europe were flat on Thursday afternoon, after the stock markets fell earlier in the day. Oslo Børs opened flat, but ended lower after a period of moderate growth in the afternoon.

The picture was more mixed in Asia in the morning hours. The Hong Kong stock market fell sharply for the third day in a row.