US stock markets rose quite strongly yesterday but remained below key all-time high prices, with a positive NVIDIA earnings data release propping up the after-hours market.
- Major US stock market indices rose yesterday, with the rise confirmed after closing time by a positive earnings report on Q4 2025 by NVIDIA. This has kept the S&P 500 Index well above 6,900 not far from the record high above the big round number at 7,000. The NVIDIA report has eased fears of an AI downturn. In Asia, both the South Korean KOSPI Composite and the Japanese Nikkei 225 Index rose to reach new all-time high prices.
- Bitcoin finally made a significant bullish turnaround by getting established well above the former key resistance level at $66,435. It may be that the recent low we saw near the support at $61,229 will now hold for a while and market longer-term buying on a hoped-for dip.
- WTI Crude Oil is starting to ease more after reaching a new 6-month high price last week. Polymarket currently shows a market which expects a US attack on Iran not until the second half of next month (March).
- Precious metals are taking a breather from their recent strong rise, but the line of least resistance continues to look likely to be higher.
- In the Forex market, the strongest major currency since today's Tokyo open has been the Japanese Yen, while the weakest has been the British Pound. The Forex market may be tricky to navigate this week with potential twists and turns in the US tariff story as well as concerns over the potential outbreak of war between the USA and Iran.
- Bank of Japan Board Member Takata stated that Japan is close to its 2% inflation target, so he banks further gradual interest rate hikes. This has helped the Japanese Yen to gain somewhat over recent hours.
- There will be a release of US Unemployment Claims data today.
- Iran and the USA are meeting for talks today in Geneva. A poor outcome is likely and could be the trigger that starts a war. A less likely outcome would be progress towards a deal or even an announcement of an interim understanding, which would send Crude Oil plummeting.