World stocks steady as Nvidia boost tempers Jackson Hole caution

Stocks remained relatively stable on Thursday as Nvidia's optimistic outlook lifted technology shares, although caution surrounding Fed Chair Kevin Warsh's Jackson Hole speech and potential Strait of Hormuz disruptions dampened risk appetite. Technology stocks surged 1.8% in Europe, marking a positive trend among few sectors. The STOXX 600 index fell slightly, while political instability in France contributed to a 1% drop in the CAC 40 index.

The MSCI World Index remained nearly unchanged as gains in Asia's tech sector and a stronger U.S. futures market offset European weaknesses. Nvidia's revenue forecast, exceeding expectations, increased its shares by 6% in premarket trading, and the company's consistent upward revisions fueled further sector optimism. However, the main limitation appears to be production capacity rather than demand, according to Marco Vailati, head of research and investments at Cassa Lombarda.

Paris saw bank stocks drop 3-4% due to concerns over upcoming budget decisions and France's election, with the first presidential debate scheduled later that day. Despite a weaker U.S. personal consumption expenditures index in July, Nasdaq and S&P 500 futures remained positive, anticipating a weaker dollar amid hawkish Federal Reserve signals.