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The Star
5 hours ago
- Business
- The Star
Asian shares rise, dollar holds gains ahead of US earnings; Nasdaq futures up
TOKYO: Asian shares climbed and the dollar held gains on Tuesday as trade talks remained in the spotlight in a week that will see key readings on U.S. inflation and bank earnings. Oil prices edged lower after U.S. President Donald Trump issued a 50-day deadline for Russia to end the war in Ukraine to avoid energy sanctions. Nasdaq futures got a bounce after Nvidia NVDA.O said it will resume sales of its H20 chips to China. Trump signalled he was open to discussions on tariffs after his weekend threat to impose 30% duties on the European Union and Mexico from August 1. Japan is reportedly trying to schedule high-level talks with the U.S. this Friday. Market reaction to the tariff uncertainty has been rather benign, making earnings in the United States this week all the more important for cues, said National Australia Bank strategist Rodrigo Catril. "It'll be interesting to see what companies are saying, in particular in terms of the forward-looking outlook, in terms of where they see the next quarter, how they see their margins, are they going to get squeezed, or are they planning to pass it on," Catril said in a NAB podcast. "I think that this idea of complacency is also because we're not quite sure how this whole thing is going to play out," he added. MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.4%, while Japan's Nikkei gauge added 0.2%. The EU accused the U.S. of resisting efforts to strike a trade deal and warned of countermeasures if no agreement is reached. Trump said he was open to talks with the EU and other trading partners. Japan's Prime Minister Shigeru Ishiba is arranging to meet U.S. Treasury Secretary Scott Bessent in Tokyo on Friday, the Yomiuri newspaper reported, ahead of an August 1 deadline before 25% tariffs are due to take effect. Ishiba also has an election to contend with on Sunday, with polls showing his ruling coalition may lose their majority in the upper house to political opponents who are advocating for expansive spending. Japanese government bonds plunged, with the benchmark 10-year yield rising to 1.595%, highest since October 2008. Data showed China's economy slowed less than expected in the second quarter in a show of resilience against U.S. tariffs. Nvidia CEO Jensen Huang is scheduled to visit the country on Wednesday with his company now planning to resume sales of its H20 artificial intelligence chips in the market. Meanwhile, the U.S. earnings season is set to begin on Tuesday, with second-quarter reports from major banks. S&P 500 profits are expected to rise 5.8% year-over-year, according to LSEG data. The outlook has dimmed sharply since the early April forecast of 10.2% growth, before Trump launched his trade war. Investors are also waiting for U.S. consumer price data for June, due on Tuesday, and will monitor for any upward pressure on prices from tariffs. The dollar was little changed at 147.62 yen after touching a three-week high. The euro edged up 0.1% to $1.1680 after four days of losses. U.S. crude dipped 0.5% to $66.63 a barrel. Trump announced new weapons shipments for Ukraine on Monday, and threatened sanctions on buyers of Russian exports unless Moscow agrees to a peace deal in 50 days. Gold strengthened 0.6% at $3,363.40 per ounce, while spot silver gained 0.3% to $38.25 per ounce, after hitting its highest level since September 2011 in the previous session. Pan-region Euro Stoxx 50 futures were up 0.3%, German DAX futures were up 0.2%, and FTSE futures were up 0.2%. U.S. Nasdaq futures advanced 0.5%. - Reuters
Yomiuri Shimbun
10 hours ago
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Edges Higher Amid Tech Rally, Pre-Data Caution
TOKYO, July 15 (Reuters) – Japan's Nikkei share average nudged higher on Tuesday, as gains in technology stocks were partially tempered by caution ahead of local election results and U.S. inflation data. The Nikkei .N225 was up 0.12% at 39,507.28 by the midday break. The index rose as much as 0.46% earlier in the session, buoyed by gains in Nasdaq futures NQc1 during Asia trade. The U.S. stock futures index advanced after AI chip giant NvidiaNVDA.O said it will resume sales of its H20 graphics processing unit (GPU) chips to China. The broader Topix .TOPX edged 0.05% higher to 2,824.15. 'The Nasdaq's gains were a positive cue for the Nikkei, but the gains of the Nikkei were limited as the market awaited U.S. price data and the outcome of the national election,' said Takamasa Ikeda, senior portfolio manager at GCI Asset Management. Global investors also await U.S. consumer price data for June, due later in the day, and will monitor for any upward pressure on prices from tariffs. In Japan, markets are wary of a potential defeat for the Liberal Democratic Party and its coalition partner Komeito in the upcoming upper house election on July 20. A potential defeat could empower opposition parties that have pledged in their campaign platforms to cut or abolish the sales tax. Shares of chip-making equipment maker Tokyo Electron rose 1.72% to become the biggest source for the Nikkei's gains. Cable makers, which are the gauge for the data center investments, jumped, with Furukawa Electric 5801.T and Fujikura 5803.T gaining 4.95% and 3.4%, respectively, to become the top percentage gainers in the Nikkei. Ryohin Keikaku 7453.T, operator of the Muji retail brand, fell 4%, becoming the biggest drag on the Nikkei.
India Today
03-07-2025
- Business
- India Today
Nvidia to become world's most valued company ever with $3.9 trillion market cap
Nvidia NVDA.O was on track to become the most valuable company in history on Thursday, with the chipmaker's market capitalisation reaching $3.92 trillion as Wall Street doubled down on optimism about of the leading designer of high-end AI chips were up 2.2 per cent at $160.6 in morning trading, giving the company a higher market capitalisation than Apple's AAPL.O record closing value of $3.915 trillion on December 26, newest chips have made gains in training the largest artificial-intelligence models, fuelling demand for products by the Santa Clara, California, company. Microsoft MSFT.O is currently the second-most valuable company on Wall Street, with a market capitalisation of $3.7 trillion as its shares rose 1.5 per cent to $ rose 0.8 per cent, giving it a market value of $3.19 trillion, in third place.A race among Microsoft, AMZN.O, Meta Platforms META.O, Alphabet GOOGL.O and Tesla TSLA.O to build AI data centres and dominate the emerging technology has fuelled insatiable demand for Nvidia's high-end processors."When the first company crossed a trillion dollars, it was amazing. And now you're talking four trillion, which is just incredible. It tells you that there's this huge rush with AI spending and everybody's chasing it right now," said Joe Saluzzi, co-manager of trading at Themis stock market value of Nvidia, whose core technology was developed to power video games, has increased nearly eight-fold over the past four years, from $500 billion in is now worth more than the combined value of the Canadian and Mexican stock markets, according to LSEG data. The tech company also exceeds the total value of all publicly listed companies in the United recently traded at about 32 times analysts' expected earnings for the next 12 months, below its average of about 41 over the past five years, according to LSEG data. That relatively modest price-to-earnings valuation reflects steadily increasing earnings estimates that have outpaced Nvidia's sizeable stock company's stock has now rebounded more than 68 per cent from its recent closing low on April 4, when Wall Street was reeling from President Donald Trump's global tariff announcements. US stocks, including Nvidia, have recovered on expectations that the White House will cement trade deals to soften Trump's holds a weight of nearly 7.4 per cent on the benchmark S&P 500 . POSTER CHILDNvidia's swelling market capitalisation underscores Wall Street's big bets on the proliferation of generative AI technology, with the chipmaker's hardware serving as the in 1993 by CEO Jensen Huang, Nvidia has evolved from a niche company popular among video game enthusiasts into Wall Street's barometer for the AI stock's recent rally comes after a slow first half of the year, when investor optimism about AI took a back seat to worries about tariffs and Trump's trade dispute with startup DeepSeek in January triggered a selloff in global equities markets with a cut-price AI model that outperformed many Western competitors and sparked speculation that companies might spend less on high-end November of last year, Nvidia took over the spot on the Dow Jones Industrial Average formerly occupied by chipmaker Intel INTC.O, reflecting a major shift in the semiconductor industry toward AI-linked development and the graphics processing hardware pioneered by Nvidia.- EndsMust Watch
USA Today
29-01-2025
- Business
- USA Today
Wall Street set for muted open as markets await Fed verdict; Apple, Nvidia falter
Shashwat Chauhan and Sukriti Gupta Reuters Wall Street's main indexes were on track for a subdued open on Wednesday, as losses in tech heavyweights Apple and Nvidia kept broader gains in check and investor attention turned to the U.S. Federal Reserve's interest-rate decision, due later in the day. Markets widely expect the central bank to hold its lending rate steady in its decision, expected at 2 p.m. ET. "Without clarity on the macro impact of a range of government policies, primarily tariffs, but also on tax policy and the labor market impact of immigration policy, we think it's fair to expect limited guidance from the Fed today," Goldman Sachs economists said in a note. Meanwhile, shares of semiconductor firms and related equipment makers advanced in premarket trading after Dutch firm ASML reported fourth-quarter bookings of 7.09 billion euros ($7.39 billion), a number far exceeding expectations. KLA Corp 2.1%, Applied Materials up 2.7%, Lam Research 2.8% and Micron Technology 1.5%. Invest wisely: Best online brokers Nvidia NVDA.O dropped 2% after gaining close to 9% on Tuesday. Its shares were hammered on Monday, after Chinese startup DeepSeek launched AI models it said were cost-effective and ran on less advanced chips. What is DeepSeek?:How a small Chinese startup shook up the AI sector Apple AAPL.O shed 1.8% after brokerage Oppenheimer downgraded its rating to "perform" from "outperform". The iPhone maker is scheduled to report quarterly earnings later this week. The Nasdaq .IXIC jumped 2% in the last session, while the S&P 500 .SPX rose close to 1% as Nvidia NVDA.O and other artificial intelligence-linked tech shares recovered somewhat from the steep losses suffered earlier in the week. Markets have been on edge due to worries around U.S. President Donald Trump's proposed tariffs, which could exacerbate inflationary pressures and slow rate cuts. Trump still plans to make good on his promise to impose tariffs on Canada and Mexico on Saturday, White House press secretary Karoline Leavitt said on Tuesday. Point72 Asset Management's founder Steven Cohen said he expects the stock market to reach a peak soon, amid inflationary pressures and uncertainties around Trump's policies on tariffs and immigration. The December reading of the personal consumption expenditures price index, a crucial metric in assessing the inflation trajectory, is due on Friday. At 8:27 a.m. ET, Dow E-minis 1YMcv1 were down 71 points, or 0.16%, S&P 500 E-minis EScv1 were down 12.25 points, or 0.2%, and Nasdaq 100 E-minis NQcv1 were up 8 points, or 0.04%. Among earnings, T-Mobile TMUS.O added 6.3% after the company forecast stronger-than-expected annual subscriber growth driven by increased demand for its affordable premium 5G plans. Danaher 5.7% after the life sciences company missed estimates for fourth-quarter profit, due to soft demand for tools and services used in drug development by its biotech and pharmaceutical clients. Earnings from Magnificent 7 stocks Microsoft MSFT.O, Facebook-parent Meta META.O and Tesla TSLA.O are expected after markets close. Cybersecurity and cloud services company F5 FFIV.O jumped 13.5% after forecasting second-quarter revenue above estimates and posting a first-quarter revenue beat. Chipmaker Qorvo QRVO.O lost 3.7% after it reported lower third-quarter revenue. ($1 = 0.9628 euros) Reporting by Shashwat Chauhan and Sukriti Gupta in Bengaluru; Editing by Shounak Dasgupta, Arun Koyyur and Pooja Desai
Reuters
28-01-2025
- Business
- Reuters
ASIA AI panic subsides with megacap earnings on deck
A look at the day ahead in Asian markets. Wall Street steadied after Monday's freak out over AI-linked mega cap valuations, with Nvidia NVDA.O recouping some of its historic market cap loss while, upon a day's reflection, China's budget startup DeepSeek looked less threatening to U.S. tech leadership. Nvidia gained almost 8% after a 17% slump wiped almost $600 billion off its value on Monday, a record for any company. The tech-centric Nasdaq was up 2% and the S&P 500 about one percent. Monday's slide in companies exposed to artificial intelligence collectively reduced the size of the market by more than $1 trillion. Twenty-four hours later, it looks more like an overdue reset from a record run dominated by the largest companies. The S&P 500 equal weight index (.SPXEW), opens new tab fell slightly on Tuesday after actually closing up a smidge during the tech-led meltdown on Monday. Nvidia short sellers raked in over $6 billion in profits on Monday, data analytics firm Ortex said. Short bets also paid off big time on chip-maker Broadcom (AVGO.O), opens new tab, and other AI-linked stocks. Options traders were quick to pile back into Nvidia contracts after Monday's slide. Call options, typically bought to express a bullish view on a stock, outnumbered put options 1.6-to-1, nearly in line with the 1-year average, after dipping to a more than two-month low of 1.36-to-1 on Monday. More than half of the Magnificent 7 companies are reporting earnings this week, with Meta (META.O), opens new tab, Tesla (TSLA.O), opens new tab and Microsoft (MSFT.O), opens new tab releasing Wednesday after the bell and Apple (AAPL.O), opens new tab post-close on Thursday. This will provide a glimpse of how their AI investments are faring so far and a chance for executives to comment on how much DeepSeek has changed the competitive landscape. While there is scepticism over DeepSeek's cost claims, it clearly introduces competition to the AI game from China. Hedge fund manager Bridgewater Associates said Tuesday DeepSeek's launch of its latest artificial intelligence (AI) models could lead to a short-term correction in many tech companies' share prices but is positive for the industry as an incentive to invest more in efficiency gains. Japan's Nikkei 225 share average (.N225), opens new tab could take its cue from the U.S. bounce, as it did with a 1.4% slide overnight. Otherwise many Asian centers are closed on Wednesday for the Chinese New Year. The Federal Reserve opened its two-day meeting on Tuesday and is expected to keep rates steady after 100 basis points of easing from September to December. U.S. rate futures are pricing in almost 50 basis points of cuts this year, or two 25 bp reductions starting in June. Until this week, it had factored in just one cut. The European Central Bank meets on Thursday and is expected to lower rates, which would widen the dollar's interest rate advantage. The dollar turned higher against the euro and yen, buoyed by U.S. President Donald Trump's promise to impose tariffs on imported computer chips, pharmaceuticals and steel in an effort to persuade the producers to make them in the United States. Dollar/yen rose 0.7% to 155.63, snapping three straight down sessions magnified by Monday's drop in Treasury yields as investors sought the safety of U.S. government debt. Yields firmed on Tuesday. Here are key developments that could provide more direction to markets on Wednesday: - Australia CPI (Dec & Q4) - Japan Consumer Confidence (Jan) - Federal Reserve rate decision - Meta, Tesla, Microsoft report earnings
