Asian stock markets continued their rally for a third day, tracking gains on Wall Street. Indexes in Japan, South Korea, and Australia opened higher after the S&P 500 rose 0.9% and the Nasdaq 100 gained 0.6%. Meanwhile, markets also focused on Chinese stocks after Alibaba weakened in US trading following its earnings report. This positive sentiment arose after US consumer confidence data for November fell sharply and retail sales rose only slightly. The data signaled that consumer spending was beginning to slow after several months of strong demand, reinforcing market expectations that...
European markets closed higher on Thursday as investors reacted to strong earnings by artificial intelligence darling Nvidia. The pan-European Stoxx 600 was up 0.5% by the end of the session, with most bourses and sectors in positive territory. AI-related stocks were amongst those making gains, with Dutch semiconductor firms BESI and ASMI up 0.7% and 0.8%, respectively. Fellow Dutch firm ASML, which makes critical equipment for semiconductors, ended almost 0.4% higher. Nvidia posted third-quarter results after the bell on Wednesday, topping forecasts for revenue and its fourth-quarter...
Wall Street's main indexes jumped at the open on Thursday as technology stocks received a boost after Nvidia's stellar results quelled some concerns around an AI bubble, while a firm September jobs report showed signs of a resilient economy. The Dow Jones Industrial Average rose 428.7 points, or 0.93%, at the open to 46567.51. The S&P 500 rose 95.8 points, or 1.44%, at the open to 6737.93, while the Nasdaq Composite rose 492.8 points, or 2.18%, to 23057.001 at the opening bell. Source: Reuters.com
The Hang Seng closed almost flat at 25,835 on Thursday (November 20), reversing morning gains after four consecutive sessions of losses. Strength in the financial sector helped offset declines in technology, property, and consumer stocks after the People's Bank of China (PBOC) maintained its benchmark interest rate at a record low for the sixth consecutive meeting, reinforcing its accommodative stance. Sentiment was mixed as media reports suggested China was considering new property support measures, including mortgage subsidies for first-time buyers, higher income tax rebates for mortgage...
European markets rallied at the opening bell on Thursday as investors reacted to strong earnings from leading artificial intelligence company Nvidia. The pan-European Stoxx 600 rose 1% in the first few minutes of trading. Nvidia released its third-quarter results after the opening bell on Wednesday, beating fourth-quarter revenue and sales estimates. The chipmaker posted a 62% year-over-year revenue surge to $57.01 billion and said it expects revenue of $65 billion in the fourth quarter. "There's a lot of talk about an AI bubble," Nvidia CEO Jensen Huang told investors on the earnings...
The Japanese stock market finally recovered after four consecutive days of decline. On Thursday, the Nikkei 225 index rose around 2.7%, while the Topix index strengthened 1.7%. In the morning session, the Nikkei even jumped more than 4%, its sharpest intraday gain in more than six weeks. The main driver came from Wall Street, after Nvidia released a revenue forecast that far exceeded expectations, immediately boosting market appetite for AI-themed stocks. The technology sector was the main driver of the rally. Stocks such as Advantest, Disco, and Ibiden recorded sharp gains, as concerns...