Welcome to Markets Desk, here's what's moving markets right now.
Nvidia's Jensen Huang delivered exactly what Wall Street needed to hear on the company's earnings call, uttering the word "demand" just once — but in a context that effectively silenced AI bubble concerns. The top five hyperscalers are projected to spend close to eight hundred billion dollars on capital expenditure this year, rising to one point three trillion next year, signaling that AI infrastructure spending remains firmly on track.
Shifting to crypto, Bitcoin is reclaiming its role as a safe-haven asset, trading more like an amplified version of gold after breaking out of a months-long range between sixty thousand and seventy thousand dollars. The four-year cycle theory, however, is giving some analysts pause, suggesting further consolidation or declines could still lie ahead before any sustained rally takes hold.
On the macro front, Canadian equities slipped for a third consecutive session after the country reported unexpected job losses, a stark contrast to stronger-than-expected American nonfarm payroll numbers. That divergence is sharpening the policy outlook on both sides of the border and adding fresh pressure to the Canadian dollar as traders recalibrate rate expectations heading into next month.
That's the tape. Markets Desk, signing off the floor.
