Markets live: Qantas profits drop, ASX to slip, Nvidia reports record revenue
Qantas reports a $420 million earnings impact from higher fuel costs due to Middle East conflict. CBA predicts one more RBA rate hike, likely in November. Nvidia's revenue doubled, but shares fell 1% after-hours despite beating estimates, with concerns over AI spending and margins. Nvidia forecasts Q3 revenue of $108B, above analyst expectations.
How this was made
The 30-second read
Why it matters
Both companies released fresh earnings data that moved their stocks; the macro backdrop adds context but does not dominate the news value.
Market read
Earnings releases for two high‑profile companies provide actionable information for traders in airline and semiconductor sectors.
What to watch
Potential government subsidies for airlines; Nvidia's upcoming product launches could improve margins.
Background
The article combines Qantas earnings with Nvidia's AI‑chip earnings and broader macro commentary on inflation and rate expectations.
Ticker impact
Nvidia posted record revenue but its shares slipped 1% after the earnings release.
short‑term dip of 1‑2% before potential rebound on AI demand
Earnings are fresh; margin guidance below expectations may trigger sell pressure.
Market effects
Airline fuel cost pressures could affect broader travel sector; AI chip margins may influence tech hardware valuations.
Australian market may see broader airline weakness; US tech may see short‑term volatility.
Both stories touch on global cost inflation and AI spending trends.
Counterpoint
Qantas may benefit from longer‑term demand recovery; Nvidia's AI growth could outweigh short‑term margin concerns.
Key entities
- CompanyQantas Group
Australian airline reporting profit decline due to fuel costs.
- CompanyNvidia
US AI‑chip maker reporting record revenue but margin concerns.
