European markets are heading for a higher open Wednesday as traders gear up for a quarterly earnings report from chipmaker Nvidia.
The Nasdaq-listed stock has become a bellwether for the global technology sector, particularly regarding the progress of the artificial intelligence boom, as its major corporate customers include Microsoft, Google, Meta and Amazon.
Its value has soared in recent years, giving it the biggest weighting in the S&P 500 and an outsized influence on U.S. market performance. The company will report after U.S. markets close on Wednesday.
Asia-Pacific markets traded mixed on Wednesday, after data showed China’s industrial profits slipped 1.5% year on year in July, a notable recovery following months of steeper declines.
In India, where markets are closed for a holiday, steep U.S. tariffs totaling 50% are set to take effect.
— CNBC’s Lee Ying Shan contributed to this story.
