Reuters Morning Bid

Nvidia nearly doubled its earnings, forecast $91 billion in revenue above consensus, raised its dividend and announced an $80 billion buyback - and its shares still fell about 1%. SpaceX filed for its IPO with OpenAI is reportedly next. Plus, Reuters/Ipsos polling finds Republican voters evenly split on Trump's cost-of-living record, a notable marker heading into the midterms.

Today’s recommended read: 'True cost of living' could be Trump's biggest headache, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

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Nvidia's blockbuster earnings are widely anticipated, but with the stock already up around 20% this year and the bar set sky-high, markets are bracing for volatility either way. All of this plays out against a backdrop of U.S. inflation potentially heading above 4%, rising bond yields, and a looming potential strike at Samsung that raises fresh questions about labor's place in the AI economy.

Today’s recommended read: Bond yields may finally be baking in an AI world, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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The 30-year U.S. Treasury bond yield remains above 5% even after President Trump says he called off planned strikes on Iran, with a Bank of America survey showing most fund managers expect it to climb toward 6%. NextEra's $67 billion bid for Dominion would create the third-largest U.S. energy company. And UK gilt yields edge lower after Labour leadership contender Andy Burnham signals he would stick with the government's existing fiscal rules.

Today’s recommended read: Warsh's arrival leaves long bonds without a safety net, Mike Dolan

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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U.S. 30-year Treasury yields reach levels last seen before the 2008 financial crisis, rattling bond markets across the globe. Oil above $110 and sticky inflation add to the pressure as G7 finance chiefs meet in Paris, and markets await Nvidia earnings for the latest read on the AI spending surge.

Today’s recommended read: Opaque oil deals around Hormuz test the petrodollar, Ron Bousso

Subscribe to Mike Dolan's Morning Bid newsletter, and check out his columns on Reuters Open Interest

Read more from Amanda Cooper and Anna Szymanski

Produced by Eliza Davis Beard, Ethan Plotkin and Abisoye Adelusi

Sound engineering and music by Sebastian and Josh Sommer

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Nvidia's earnings this week are expected to confirm the AI boom's momentum, but questions linger over whether hyperscalers can sustain their massive capital spending. Meanwhile, U.S. mortgage rates near 6.5% and 30-year Treasury yields topping 5% for the first time since 2007 are raising alarms that the rates market is flashing warnings that stock markets appear to be ignoring.
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