Global stocks eased after AI bellwether Nvidia disappointed investors with slower revenue growth expectations.

Wall Street futures were in negative territory amid market caution in the wake of Nvidia’s results release after markets closed yesterday.

TSX futures followed sentiment lower.

On Wall Street, markets are watching earnings from Deere & Co., Intuit Inc. and Gap Inc.

“While we don’t doubt there will be strong demand for Nvidia’s products, that does not mean growth rates will be sustained and that is what investors care about,” said Michael O’Rourke, chief market strategist at JonesTrading.

Overseas, the pan-European STOXX 600 was down 0.28 per cent in morning trading. Britain’s FTSE 100 gained 0.21 per cent, Germany’s DAX fell 0.13 per cent and France’s CAC 40 gave back 0.48 per cent.

In Asia, Japan’s Nikkei closed 0.85 per cent lower, while Hong Kong’s Hang Seng declined 0.53 per cent.

Oil prices rose as Russia and Ukraine launched missiles at each other, overshadowing the impact of a bigger-than-expected increase in U.S. crude inventories.

Brent crude futures climbed 1.3 per cent to US$73.77. West Texas Intermediate (WTI) crude futures advanced 1.4 per cent to US$69.74.

“For oil, the risk is if Ukraine targets Russian energy infrastructure, while the other risk is uncertainty over how Russia responds to these attacks,” said ING analysts in a note.

In other commodities, spot gold was up 0.7 per cent to US$2,669.30 an ounce. U.S. gold futures rose 0.7 per cent to US$2,672.

The Canadian dollar strengthened against its U.S. counterpart.

The day range on the loonie was 71.53 US cents to 71.66 US cents in the early premarket period. The Canadian dollar was down about 0.8 per cent against the greenback over the past month.

The U.S. dollar index, which weighs the greenback against a group of currencies, gained 0.04 per cent to 106.73.

The euro slid 0.26 per cent to US$1.0519. The British pound fell 0.16 per cent to US$1.2632.

In bonds, the yield on the U.S. 10-year note was last down at 4.397 per cent ahead of the North American opening bell.

Deere & Co. has forecast 2025 profit below Street expectations, as plummeting farm incomes and inflationary pressures dent demand for the company’s tractors and other farm equipment.

Euro zone and UK consumer confidence

(8:30 a.m. ET) Canada’s industrial product and raw materials price indexes for October. Estimate are month-over-month increases of 1.5 per cent and 2.5 per cent, respectively.

(8:30 a.m. ET) U.S. initial jobless claims for week of Nov. 16. Estimate is 220,000, up 3,000 from the previous week.

(8:30 a.m. ET) U.S. Philadelphia Fed Index for November.

(10 a.m. ET) U.S. existing home sales for October. Consensus is an annualized rate rise of 2.3 per cent.

(10 a.m. ET) U.S. leading indicator for October. The Street is forecasting a month-over-month decline of 0.3 per cent.

Also: Quebec’s fall fiscal update

With Reuters and The Canadian Press