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Wall Street indices are advancing firmly during Wednesday's session as the market awaits earnings from Nvidia, currently the world’s largest publicly traded company.
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The Nasdaq 100 rose as much as 1%, while the S&P 500 recorded gains of approximately 0.7%.
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Nvidia is set to report after the closing bell, with markets anticipating a revenue surge of nearly 70% to almost $66bn. Investors are banking on a significant beat of consensus estimates, with the options market implying a move of roughly 5% in either direction.
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Shares in Nvidia are up more than 2% ahead of the print, trading near record levels. Notably, peers such as TSMC and ASML are at all-time highs, while Nvidia's customers recently reported expectations for record capital expenditure in their latest filings.
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The dollar is under slight pressure today, with EUR/USD returning above the 1.18 level.
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A softening greenback and global uncertainty surrounding Donald Trump's future moves on tariffs and Iran have pushed gold prices up by more than 1% to over $5,200, while silver has climbed above $90 (+4%).
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Donald Trump offered few surprises during his State of the Union address, reiterating the need to maintain his tariff strategy and expressing a desire to resolve the Iran issue through a new agreement.
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The cryptocurrency market is showing strong momentum today, with Bitcoin gaining 7% to trade near $69,000, while Ethereum has rallied 11% to move back above $2,000.
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Warner Bros indicated that Paramount has submitted a new buyout offer at $31 per share, potentially representing a superior bid to the one presented by Netflix.
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Monthly inflation data from Australia exceeded expectations, increasing the likelihood of another rate hike by the RBA; consequently, AUD/USD is gaining nearly 1% today.
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The yen remains weak amid speculation that the government prefers a cheaper currency and opposes interest rate hikes, pushing USD/JPY above 156.
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Crude oil prices remain elevated due to risks associated with potential US strikes on Iran; despite Trump’s stated preference for a peaceful resolution, his remarks that Iran is rebuilding nuclear facilities during negotiations have raised the perceived probability of imminent airstrikes.
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US crude inventories rose by nearly 16m barrels today, sharply higher than the anticipated 2m barrel build; while stocks are above last year's levels, they remain below the five-year average.
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In the face of high prices and significant oversupply, countries including Russia and Iran are lowering their official export prices for crude.
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The CME has reported a technical failure, suspending trading in natural gas and metals; the outage occurs ahead of tomorrow's First Position Day and Friday's First Notice Day for futures contracts.
BREAKING: Massive Crude Build Shatters Expectations. WTI is down by 1%
US OPEN: Wall Street holds its breath ahead of Nvidia earnings
Chart of the day: US100 gains ahead of the Nvidia earnings 📈
Morning wrap (25.02.2026)
