The Daily Chase: Loan loss provisions weigh on bank earnings; Nvidia forecasts strong outlook

​It's the busiest day on the big banks earnings calendar, with the likes of RBC, TD Bank and CIBC all reporting earnings before the opening bells.

NVIDIA SPIKES AFTER UPBEAT FORECAST

Shares of Nvidia are surging in the premarket – up as much as 26 per cent – after the chipmaker delivered an upbeat outlook driven by its view of demand from the AI industry. The company sales in the three months ending in July should be around US$11 billion, well beyond the US$7 billion or so analysts had forecast. That's helping buoy sentiment in the broader markets, lifting futures on the Nasdaq and the S&P 500 this morning.

ALBERTA WILDFIRES EASE