Morning Bid: Nvidia watch party over, back to inflation vigil

It is a sea of red in Asia as AI darling Nvidia failed to meet expectations of investors who were not satisfied with its profits, revenue and outlook simply beating the Street. Nvidia shares have rallied more than 150% this year thanks to insatiable demand for generative artificial intelligence (AI), so the 7% drop in its shares after-hours could turn out to be just another dip to buy into the world's second-most valuable company. Taiwan-listed shares of chipmaker TSMC slid 2%, Nasdaq futures dropped 0.7%, and Europe is set for a lower open, with EUROSTOXX 50 futures off 0.2%.

Fed's Bostic: it is 'time to move' on rate cuts, but wants to be sure

Bostic said he will want to see confirmation from the monthly jobs report and two inflation reports due before the Fed's Sept. 17-18 meeting that the economic trends are continuing. "I don't want us to be in a situation where we cut, and then we have to raise rates again: that would be a very bad outcome" because it would undermine people's confidence in the Fed, he said at an event organized by the Stanford Club of Georgia and the Stanford Black Alumni Association–Atlanta. The Fed has kept its policy rate in the 5.25%-5.50% range for more than year to bring down high inflation.

Stock market today: Nasdaq, S&P 500 lead stocks lower ahead of Nvidia earnings, which disappoint

HP prints an earnings miss, CEO weighs in on AI PCs and cost cuts

US Fed sets large bank capital levels after stress tests, eases on Goldman's level

The U.S. Federal Reserve announced on Wednesday it had set the latest capital cushions for large banks following June's annual stress tests, but agreed to shrink Goldman Sachs' burden. The new levels, effective Oct. 1, largely mirror the ones the Fed first identified as part of the annual health check of large banks. The central bank, however, added in its statement that it had lowered the extra capital level required of Goldman Sachs, after the firm asked the central bank to reconsider its finding.

Nvidia stock slips after earnings, forecasts top estimates amid 'incredible' demand for its next-gen chip

EM Currencies Post Second Day of Losses On Stronger Dollar, Oil

(Bloomberg) -- Emerging-market currencies were down for a second day on Wednesday, as the dollar rebounded and Latin American markets got hit by commodity prices and political noise. Most Read from BloombergTurkey Plans Istanbul Taxi Surge to Tackle ComplaintsIntergenerational Housing Could Help Older Adults Combat LonelinessAs Rural Hospitals Shutter Maternity Wards, Urban Ones FollowNazi Bunker’s Leafy Makeover Turns Ugly Past Into Urban EyecatcherA Loud Warning From the Past About Living With

Air New Zealand warns of inflation, competition impact in first-half of 2025

The country's flagship carrier is grappling with a hit to demand from pricing competition from its U.S. counterparts and high inflation, while global engine maintenance requirements from Pratt & Whitney has affected aircraft availability. "Air New Zealand is expecting a challenging year ahead," CEO Greg Foran said. Pratt & Whitney last year removed more than 1,000 engines from Airbus planes, which has led to the grounding of Air New Zealand's planes intermittently.

Google revamps controversial AI image generation tool after backlash

Super Micro stock plunges 19% after company delays annual report following short-seller report