Global markets experienced declines on Tuesday as investors turned their attention to Nvidia Corp.’s upcoming earnings report, expected later this week. Contracts for the Euro Stoxx 50 fell, mirroring a broader retreat in Asian equities. U.S. futures showed mixed performance, with futures on 10-year U.S. Treasuries stabilizing.
Gold and copper traded near their record highs, while wheat prices saw a significant surge. The Bloomberg Commodity Spot Index reached its highest point since January 2023 on Monday. Asian markets took a pause after a seven-day rally, with Li Auto Inc. leading losses in the MSCI Asia Pacific Index following disappointing first-quarter vehicle sales. Stocks in Australia and Japan also recorded losses, and most regional currencies weakened against the dollar.
“There’s not much on the calendar this week before FOMC minutes and Nvidia,” said Kyle Rodda, a strategist at Capital.com. “Positioning for those events may set the tone for the next few days.” The market’s attention is particularly focused on Nvidia, a key player in the artificial intelligence sector, whose earnings report on Wednesday could provide insights into growth prospects in the industry. In Asia, China’s economic challenges remain a concern, with new data indicating continued struggles in the country’s debt-laden property sector.
