The artificial intelligence bellwether, already up more than 20% for the year and the first company to top a $4 trillion valuation, rose another 4% out of hours overnight after it said it plans to resume sales of the H2O AI chips to mainland China just days after its CEO met U.S. President Donald Trump.
"The U.S. government has assured Nvidia that licenses will be granted, and Nvidia hopes to start deliveries soon," said the company, whose chief executive, Jensen Huang, is in Beijing.
The move is controversial in the geopolitical context and the White House, which has previously expressed concern that the Chinese military could use AI chips to develop weapons, did not respond to a request for comment.
After Wall Street stock indexes ended in positive territory on Monday, stock futures were higher again first thing today.
Earlier, Chinese stocks eked out modest gains after economic updates showed GDP growth there slowed down by less than expected in the second quarter despite the global tariff turmoil - registering a 5.2% year-on-year expansion of the economy.
June numbers were more of a mixed bag, with an acceleration of Chinese industrial production offset by a miss in retail sales growth and another monthly decline in house prices.
The yuan was largely unmoved by the sweep of data.
Part of the stasis is due to the day's big releases stateside.
The June update on U.S. consumer prices is clearly critical to Federal Reserve thinking on whether tariff rises are aggravating the inflation picture enough to keep interest rates on hold - despite an almost daily insistence by Trump that rates should be cut by more than 3 percentage points.
Trump once again on Monday said Fed rates - now held in a 4.25-4.50% range - should be 1% or less. Adding a new line of pressure on the central bank, White House officials stepped up pressure on Chair Jerome Powell over what they claim were serious cost overruns in the bank's renovation of its headquarters.
The CPI release is expected to show the core annual inflation rate picking up pace last month to 3.0% - well above the Fed's 2% target.
Edgy U.S. Treasury yields slipped back a touch ahead of the report, with 30-year bond yields retreating from the 5% mark. The dollar index also slipped back slightly.
Japanese debt concerns alarmed in the background, however. The 30-year JGB yield jumped to a record 3.20%, while 20-year yields soared to their highest since November 1999 at 2.65% and 10-year yields scaled the highest since October 2008. Investors in Japanese bonds are bracing for a potential power shift in upper house elections this weekend that could strain the country's already frail finances.
Before we see the U.S. inflation update today, the U.S. second-quarter earnings season kicks into gear with the big U.S. banks reporting - likely flattered by the burst of financial market trading revenues during the turbulent three months despite still subdued investment banking activity.
Elsewhere, crude oil prices fell back further after Trump's lengthy 50-day deadline for Russia to end the Ukraine war and avoid sanctions eased immediate supply concerns. Oil prices had climbed in anticipation of sanctions both on Russia and countries buying oil from Moscow, but gave up gains as traders doubted the U.S. would actually impose steep tariffs on third countries.
European stocks pushed higher, meantime, even after the weekend's 30% U.S. tariff threat on imports from the region.
Aircraft, machinery, cars, chemicals and medical devices are the leading big-ticket items on the latest list of U.S. goods the European Commission has proposed to impose tariffs on if talks with Washington do not yield an agreement on trade.
But European ministers meeting in Brussels on Monday remained convinced they can bring Trump back from the brink before his Aug. 1 deadline and reach a deal that would keep the $1.7 trillion two-way trading relationship broadly intact.
And German investor morale rose more than expected this month, the ZEW institute said, reporting an increase in its sentiment index to 52.7 points from 47.5 points in June.
In Britain, set piece speeches from finance minister Rachel Reeves and Bank of England boss Andrew Bailey are awaited later.
Reeves announced a push on Tuesday to get more savers to invest in company shares as part of a wide-ranging set of initiatives to boost Britain's financial services sector. Britain's blue chip FTSE 100 briefly topped 9,000 points for the first time earlier and the pound steadied.
Bitcoin recoiled back below $120,000 on Tuesday after a roaring start to the week saw it hit a new record of $123,153 the day earlier.
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