NVIDIA’s earnings report released after the bell yesterday has caused a stir in the market, with the stock price plummeting by 1.9% in pre-market trade despite beating top and bottom line expectations. While revenue guidance for the current quarter was not as strong as some had hoped for, it’s the company’s outlook for chip sales to China that has investors concerned. As a result, NVIDIA shares are under pressure in pre-market trading, with other European bourses erasing their early morning gains.

In quiet trade today, the US dollar is flat against major peers, as investors await the next catalyst for movement. With little newsflow and no major economic data releases on the horizon, FX majors are trading in narrow ranges. Meanwhile, bonds are seeing lackluster trade, with USTs eyeing a 7-year supply and data.

In commodity markets, crude oil is choppy, gold is trading on either side of $3,400 per ounce, and base metals are mixed in narrow ranges. Looking ahead to the rest of the week, investors will be eyeing key economic data releases such as the US GDP second estimate for Q2, personal consumption expenditures (PCE) for Q2, jobless claims, ECB minutes, a speech from Fed’s Waller, and supply from the US. Earnings reports are also due from Marvell, Dell, ULTA Beauty, and Best Buy.

NVIDIA’s earnings miss has put a damper on investor sentiment, with European bourses erasing their early gains and the US dollar trading flat in quiet trade. The company’s outlook for chip sales to China remains a concern, and investors will be keeping a close eye on these developments in the coming days. Meanwhile, key economic data releases and earnings reports from major companies will provide valuable insights into the state of the global economy and financial markets.