Stock futures are flat following a positive day for major indexes, with Nvidia's earnings report anticipated to be a significant market mover. Investors are particularly interested in how Nvidia's reliance on hyperscalers like Amazon, Google, and Microsoft may be shifting, especially after the company has consistently surpassed analyst expectations yet faced stock penalties post-results.
Nvidia's shares rose about 2% yesterday, breaking a four-year losing streak, which contributed to a broader market rally. In trade news, Canada has officially implemented retaliatory tariffs on over 700 U.S. goods, matching the Trump administration's 50% duties, which could escalate trade tensions.
This comes after failed negotiations between the two countries, with Canadian Finance Minister François-Philippe Champagne stating that the U.S. demands were excessive. Additionally, Iran and Oman are exploring a joint shipping route through the Strait of Hormuz, aiming to restore safe navigation amid reduced tanker traffic.
Meanwhile, Waymo is expanding its operations internationally, planning to launch driverless rides in Germany by 2027, marking its first entry into the EU market. This expansion reflects Waymo's broader strategy to enhance its presence in global mobility markets