UMMA is trading 4.18% up in pre-market, most plausibly linked to Nvidia’s stronger-than-expected results and optimistic outlook.
- Nvidia reported $96.2 billion in quarterly revenue and forecast approximately $108 billion for the next quarter.
- Asian technology shares and U.S. equity futures rose on renewed AI and semiconductor optimism.
- Hot July PCE inflation and the Bank of Korea’s rate hike to 3% tempered the risk-on move but did not offset the broader global growth-stock rally.