The S&P 500 rose 0.3% to a fresh record high on Thursday, while the Nasdaq gained 0.6% and the Dow Jones hovered near the flatline. Investors kept a cautious eye on the ongoing US government shutdown, though markets largely shrugged off concerns, awaiting further developments and hoping the stalemate proves short-lived. Technology led sector gains after OpenAI raised $6.6 billion in a share sale valuing the company at $500 billion and announced an agreement with South Korean chipmakers. Industrials, energy and consumer discretionary stocks also advanced, while real estate lagged. Among...
European stocks closed mixed on Thursday as markets assessed key earnings results for the US tech sector and the outlook for global rates. The Eurozone's STOXX 50 inched above the flatline to close at 5,393 and the pan-European STOXX 600 dropped 0.2% to 554. Nvidia released earnings and revenues figures that were slightly ahead of expectations, but noted that demand in the sector is slowing to consolidate concerns that the AI-led rally in global tech stocks is unsustainable. European stocks with exposure to US chips manufacturers and AI companies were mixed, with ASML losing 1% while...
US stocks inched higher on Thursday as markets assessed the latest economic data and the earnings report by Nvidia, used as a bellwether for developments in the global artificial intelligence industry. The S&P 500 rose 0.3% to a new record while the Nasdaq 100 gained 0.5%. Nvidia shares wavered after beating second-quarter earnings and revenue expectations in wall street, although the chip giant forecasted decelerating growth in data center demand to consolidate the lingering concern that the AI rally is unsustainable. In turn, the firm stated that it recorded no sales of its H20 chips...
The Hang Seng Index fell 203 points, or 0.8%, to close at 24,999 on Thursday (August 28th), extending its decline into a third session, weighed down by declines in consumer and technology stocks. The benchmark index hit its lowest level in a week amid growing doubts about the sustainability of China's stock rally, which has been underway since April, and caution ahead of the release of China's official August PMI later this week. Meituan plunged 13.2% due to intensifying competition in the domestic food delivery market and limited overseas expansion, particularly in Brazil. Alibaba fell...
European stocks rose on Thursday, with the Stoxx 50 up 0.6% and the Stoxx 600 up 0.4%, as investors digested Nvidia's latest earnings. The US chipmaker forecast sales growth above 50% this quarter, signaling ongoing AI demand, though its shares slipped after data center revenue missed forecasts and concerns grew over China sales. In Europe, Pernod Ricard gained 5% despite a 3% annual sales drop, weighed by weak China demand and US tariff risks. On the other hand, Drax plunged 11% after UK regulators launched a probe into its biomass sourcing disclosures. Meanwhile, auto sector data showed...
The Nikkei 225 Index climbed 0.73% to 42,829 while the broader Topix Index added 0.65% to 3,090 on Thursday, recovering part of this week's losses as chip stocks advanced after Nvidia reported stronger-than-expected earnings and revenue. Still, Nvidia's data center sales missed estimates for a second straight quarter, and the company disclosed no sales of H20 chips to China during the period. On the trade front, Japan's chief negotiator Ryosei Akazawa canceled a planned trip to Washington, where he had been scheduled to discuss Japanese investment in the US. Domestically, attention turns...