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Elizabeth Knight Business columnist November 18, 2025 — 3.37pm

On Wednesday afternoon at 2pm California time, the world is set to watch the most consequential announcement in equity markets this year. The globe’s largest company, Nvidia, will deliver its quarterly earnings.

Australian traders will have quaffed their first espressos of the day, with the big news breaking at Thursday 9am AEDT. And, as one analyst summed it up, on trading desks around the world “we will be able to hear a pin drop”.

Even Jerome Powell’s Federal Reserve rate decision in December is arguably less consequential.

Artificial intelligence is the engine room powering the US sharemarket, which in turn determines the fortunes of all stock markets around the world, including

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