ECB rate decision, bond yields

The U.S. dollar index hit its highest level in more than two weeks on Thursday morning.

The index, which weights the US dollar against a basket of major currencies, traded higher at 106.883. This is the highest since October 6, when the index reached 106.974.

— Alex Harring, Gina Francola

Volvo CEO Jim Rowan discusses the company’s third quarter earnings.

Standard Chartered Chief Financial Officer Andy Halford says the bank remains committed to China despite losses there impacting third-quarter earnings said.

According to IG data, European stocks are heading into negative territory on Thursday.

Germany’s DAX is seen dropping 153 points to 14,748. The FTSE 100 index is set to open 54 points lower at 7,365, France’s CAC 40 is down 69 points to 6,848 and Italy’s MIB is down 207 points to 27,181.

— Jenny Reid

Goldman Sachs remains bullish, even as investor sentiment around artificial intelligence has worsened following the U.S. government’s recent restrictions on exports of AI chips.

Analysts at the investment bank said, “Investor sentiment toward AI has weakened recently, particularly in the wake of new regulations in the United States, but global competition could lead to a major focus on AI implementation in key industries.” I think there is,” he said. he wrote in an Oct. 23 memo to investors.

CNBC Pro covers some of the stocks on Goldman’s Conviction List. These belong to two categories: those that enable AI and those that are enhanced by AI.

Subscribers can read more here.

— Amara Balakrishna

Stock indexes in Japan and South Korea fell more than 2% on Thursday as investors took their cue from Wall Street overnight.

Japan’s Nikkei Stock Average fell 2.13%. South Korea’s Kospi index fell 2.20%, its lowest since early January.

South Korea’s Kosdaq index fell more than 3%. Shares of South Korean tech stocks were also weighed down by chipmaker SK Hynix, which fell 3.63% after the announcement. Quarterly results.

Investors also evaluated data from South Korea, the economy has grown The third quarter was slightly faster than expected.

— Shreyashi Sanyal

U.S. chipmaker Nvidia has been getting a lot of attention from market watchers this year, and growth investor Nick Griffin is no exception.

The founding partner and chief investment officer of Australia-based Munro Partners says that even though Nvidia may be considered a “very difficult stock to own,” he has “always liked it.” ” he said.

NVIDIA participates in approximately 700 ETFs. [exchange-traded funds] And it’s all over the store. “At the beginning of 2022 I think he said Nvidia was going to be the biggest company in the world, but in that year the company fell by his 60%, but then he went up another 300%.” Griffin said. CNBC Pro Talk.

This comes despite stocks falling last week after the U.S. government restricted exports of artificial intelligence chips to China over concerns that they could be used for military development purposes. Since the beginning of the year, the company’s stock price has increased nearly 200%. . The move will limit exports of chipmaker Nvidia’s A800 and H800 chips, the people said.

CNBC Pro subscribers can read more here.

— Amara Balakrishna

The day after Google announced third-quarter Google Cloud revenue that fell short of Wall Street expectations, Alphabet stock fell more than 8%, its biggest decline in nearly a year.

Alphabet’s disappointment coincided with Microsoft’s earnings showing accelerated growth in Azure.

Despite the better-than-expected top and bottom lines, the search giant’s Google Cloud revenue came in at $8.41 billion, below the $8.64 billion expected by analysts surveyed by StreetAccount.

— Samantha Subin

Wednesday’s decline pushed the S&P 500 index below 4,200, a technical level closely watched on Wall Street. This is the first time the index has closed below that mark since May 31, when it closed at 4,179.83.