US markets traded in green on Thursday as investors welcomed fresh signs that pressure on Wall Street may be easing, with Nvidia’s latest earnings and renewed hopes of another interest rate cut by the Federal Reserve. Dow jumped 662 points or 1.44% to 46,801. Nasdaq also rose to 23,134 up, 569 points or 2.5% at 8:30 PM IST. S&P500 also followed the suit, rising 126 points or 1.9%.The gains also came after Nvidia delivered another heavyweight profit update, calming concerns that enthusiasm around artificial intelligence might be fading. Walmart’s stronger-than-expected results also helped lift sentiment. Ahead of the opening bell, futures trading pointed clearly to a risk-on mood. S&P 500 futures gained 1.6%, while futures tied to the Dow advanced 1% and the Nasdaq added 2.1%. Nvidia shares rose 5.2% in pre-market activity after the chipmaker posted a summer profit that outpaced Wall Street expectations and released a revenue forecast that once again sailed past analysts’ estimates. The company’s ability to repeatedly exceed projections has strengthened its role at the heart of market volatility. Nvidia, now the most valuable firm on Wall Street and briefly worth more than $5 trillion, holds such a large weight in the S&P 500 that its daily swings can set the tone for the entire index. Recent doubts about whether AI-linked stocks had surged too far, too fast have rattled markets, but the latest earnings figures offered investors a renewed sense of assurance. Nvidia’s dominance has also made it a proxy for the wider AI build-out, with companies across industries relying on its chips to expand their artificial-intelligence capabilities. Markets also reacted to new figures on the U.S. labour market. Government data showed hiring in September was stronger than economists had projected, although the unemployment rate rose slightly. The mixed report kept hopes alive that the Federal Reserve could cut interest rates again at its December meeting. The central bank has already trimmed rates twice this year as the job market has gradually slowed. However, some Fed officials have recently suggested that holding off next month may be prudent, warning that inflation’s persistence above the 2% target leaves little room for complacency. Lower rates can stimulate the economy and lift asset prices, but they also risk fuelling further inflation. Overseas markets largely mirrored the positive tone. Germany’s DAX rose 1.3%, London’s FTSE 100 advanced 0.7%, and France’s CAC 40 posted a 1.1% gain. In Asia, Japan’s Nikkei 225 posted a 2.6% rise as tech stocks rallied, while South Korea’s Kospi increased by 1.9%. Chinese indices closed mixed amid reports that Beijing may be preparing new steps to support its struggling property sector. With Nvidia once again surpassing expectations and broader economic data offering room for optimism, Thursday’s session marked a rare stretch of calm after weeks of uncertainty across global markets.

The number of new homes in England has fallen to its lowest level for nearly a decade, in a blow to Labour’s hopes of meeting one of its key manifesto pledges.

Keir Starmer has promised to build 1.5million new homes in five years, an average of 300,000 homes per year, but official figures show just 208,600 were created in England in 2024/25, down 6 per cent from 221,409 the previous year.

The number of additional new homes is the lowest for a financial year since 2015/16, when the figure was 195,534.

Housing secretary Steve Reed said the statistics showed “the extent of the housing crisis” Labour inherited, but the Tories said the figures showed Labour “have no plan for delivering new homes”, adding that numbers had fallen to a level “below what the Conservatives achieved during a global pandemic”.

Mr Reed said Labour had taken over “a planning system that blocked rather than built, and high inflation and soaring construction costs that created a perfect storm holding back housebuilding”.

He insisted the 1.5 million homes target was “not just a number – it’s a way to give children a secure home, for young people finally to move out and enjoy independence, and for working families to have place to call their own”.

But Sir James Cleverly, the shadow housing secretary, said: “The Labour government’s record on housing is abysmal. Their own statistics are a damning indictment of their failed housing policy. New builds are down to a level below what the Conservatives achieved during a global pandemic.

“Labour’s much-trumpeted target of 1.5 million homes is dead in the water. Clearly, they have no plan for delivering new homes. So much for ‘build, baby, build.’”

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There were 190,602 new builds, 17,708 properties that saw a change of use from non-domestic to residential, plus 3,846 conversions between houses and flats, according to data published by the Ministry of Housing, Communities and Local Government (MHCLG).

A further 1,076 other types of homes were added, such as caravans and house boats, while there were 4,632 demolitions.

The number of new homes supplied in England – defined as “net additional dwellings” – is based on local authority estimates of gains and losses.

The government has pledged to deliver 1.5 million new homes in England over the course of this parliament, which is due to last until summer 2029.

Separate figures published by the MHCLG alongside the annual data suggest 124,800 new homes have been delivered in England so far this financial year (from April 1 to November 9), while 275,600 have been delivered since the start of the current parliament on July 9 2024.

Net additional dwellings are “the primary and comprehensive measure of total housing supply”, the MHCLG said.

The annual total hit 248,591 in 2019/20: the highest number of new homes in any financial year so far this century.

Dr Martens has announced plans to raise prices in the US from January to offset a multimillion-pound hit from higher tariffs.

The footwear retailer had previously pledged to keep prices on hold in 2025 despite high tariffs, but said it would need to make increases from the start of 2026 on “selected products” in the US only.

It makes the bulk of its footwear in Vietnam and almost a third in neighbouring Laos, which have been hit with higher tariffs because of US President Donald Trump’s trade war.

Dr Martens said it now expects a “high single digit” million-pound impact from tariffs on full-year profits, of which roughly half can be offset in 2025-26 because of the timing of action being taken.

Ije Nwokorie, chief executive of Dr Martens, told the PA news agency: “Now that the tariffs are firm and and we know how the market is responding to it, we are looking at increasing prices in the States.”

But he said the price rises were “by no means across the board” and would be in the US market only.

He said the group would not need to increase prices on the back of tariffs elsewhere globally, and confirmed it had no plans to raise prices in the UK.

Dr Martens said it remained on track with full-year forecasts, for between £53 million to £60 million underlying pre-tax profits, although it said this did not include the tariff hit.

Shares in the firm fell 9% in Thursday trading.

The group, whose yellow-stitched boots have been a retro mainstay for decades, said it plans to fully offset the extra tariff costs from 2026-27 onwards.

It said: “This aim has driven both the actions we have taken and the timing of those actions.

“We expect to fully mitigate the impact of increased tariffs for 2026-27 and beyond through continued tight cost control, flexible product sourcing, and targeted adjustments to our USA pricing policy.”

While the firm plans to keep sourcing from its existing South East Asia partners, Mr Nwokorie said the group would look to lessen the tariff blow by shifting more orders from Vietnam to the US, where tariffs are 20%, versus 40% for Laos.

It will increasingly use Laos for other markets outside of the US, he said.

Dr Marten’s half-year results on Thursday showed Dr Martens narrowed pre-tax losses to £11 million for the six months to September 28 from losses of £12.3 million a year earlier.

Sales rose 0.8% on a constant currency basis to £327.3 million in the first half as Dr Martens praised its “consumer first” strategy.

Mr Nwokorie said: “Our brand is strong, as evidenced by the 33% increase in shoes volumes and the successful launch of new products such as the Zebzag Laceless boot and the 1460 Rain boot.

“While it’s still early days, we are happy with the advances we’re making and are seeing green shoots.

“While the marketplace remains uncertain and consumers are cautious, and our biggest trading weeks are ahead, we are confident in our plans for the year.”

The group also said sales of shoes had overtaken boots for the first time in the first half, driven by demand for its Adrian tassel loafer, which saw sales growth of 24%, and its Adrian Black Polished Smooth shoe design, which was the number two bestseller.