Artificial intelligence has been driving investment on Wall Street since the start of the year, and Nvidia just confirmed the trend. Nasdaq futures jumped nearly 2% this morning after the chipmaker issued a super upbeat guidance that even sparked an AI rally. Shares of Nvidia jumped a whopping 30% in premarket trading, while Microsoft Corp and Alphabet also rose.

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The lack of good news coming from US debt ceiling negotiations and fears for future economic momentum weighed heavily on Wall Street yesterday. Today, investors are focused on Janet Yellen and the latest draft of the Fed's monetary policy meeting minutes.

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There are still obstacles to overcome before Democrats and Republicans can reach an agreement in debt ceiling talks, but a compromise is close. Equity markets have returned to narrow trading ranges, awaiting news about the outcome of these negotiations. 

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The negotiations on the US debt ceiling are still the focus of investors. This is a good thing, because otherwise we would probably be bored stiff. Relations between China and the US still rocky, after the banning of Micron there and a G7 that angered Beijing.

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Investors’ appetite for risk assets has been reawakened. Let’s hope that Jerome Powell will not kill it when he speaks later today. 

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Joe Biden's reassuring words on the US debt ceiling talks boosted US indices. He said he's "confident" that a debt ceiling deal will be reached that will prevent a U.S. default. 

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The tech sector is still the main driver of indices, as investors keep using the techniques that have worked for them over the past decade. Talks about raising the US debt ceiling are still the main focus of investors, who fear the consequences that a default would have on global stock markets.

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Bad news is starting to pile up in the U.S., but as often on stock markets, bad economic news can mean good news, since it can lead to a more dovish Fed. But it's not that clear at the moment what really is good news for investors. Yesterday, it was the Empire State business index that showed signs of severe fatigue, with a plunge well below what was expected in May. As for the US debt ceiling situation, Treasury chief Janet Yellen reiterated her warning that the US could run out of cash by June 1. Joe Biden has planned to meet with the congressional leaders of the Democratic and Republican camps today to try to break the deadlock as soon as possible.

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Once again, investors are starting the week starts with many important questions in mind. Will the US authorities avoid economic troubles by raising the debt ceiling? Will China finally deliver on its promises of economic recovery? Will Ukraine kick Russia out of its territory? Will an artificial intelligence replace me by the end of the year? Sorry, I’m getting a bit off track here…

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The three main Wall Street indices decided to play a different tune yesterday. The Nasdaq 100 remained in the green, helped by a 4.3% jump of Alphabet after the announcement of new artificial intelligence features to answer the offensive of Microsoft. By the way, here’s a tip: if you need funding right now, don't forget to slip the term AI in your communications, it works like a charm no matter the sector: technology, baking, scuba diving, plumbing, real estate... 

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