US equity futures rallied and Asian stocks gained after upbeat earnings from Nvidia Corp. reinforced optimism over the global artificial-intelligence boom. The giant chipmaker said second-quarter revenue will be about $28 billion, beating analysts’ estimates. The company also announced a 10-for-1 stock split and boosted its quarterly dividend by 150% to 10 cents a share. Nvidia’s results sent its shares as much as 7% higher in after-hours trading. Asian stocks were broadly higher, driven by gains in semiconductor manufacturers in South Korea, Taiwan and Japan. A Bloomberg gauge for chipmakers jumped as much as 1.9%, taking its lead from Nvidia’s results. Nvidia’s earnings “gives more room for upside for Asian semiconductor stocks,” said Rajat Agarwal, Asia strategist at Societe Generale SA in Bengaluru. “It elongates the growth story and allays any concerns of slowdown for Asian chipmakers.” Japan’s stock benchmarks led gains in Asia, while those in Taiwan and Korea also rose. Indexes dropped in Australia, China and Hong Kong. Korean equities were also boosted after central bank Governor Rhee Chang Yong said the potential for an interest-rate hike is limited at the moment. He spoke after the Bank of Korea left its key interest rate unchanged. Chinese stocks were the biggest drag on the region with technology names leading the decline. A gauge of tech shares listed in Hong Kong dropped amid a brewing price war between Alibaba Group Holding Ltd. and Tencent Holdings Ltd. over cloud services. Treasuries were little changed in the Asian session. Policy-sensitive two-year yields had climbed four basis points Wednesday after Federal Reserve minutes showed officials remained in no rush to cut rates. “Many” Fed officials expressed uncertainty over the degree to which policy is restraining the economy — but the minutes also noted policy “was seen as restrictive.” The dollar weakened against all its Group-of-10 peers, eroding some of the gains it made on Wednesday. The yen was little changed after falling to the lowest level since April in early Asian trading. The People’s Bank of China cut its yuan fixing to the weakest level since January. New Zealand’s dollar strengthened after Reserve Bank Governor Adrian Orr said the central bank doesn’t want to risk a blowout in inflation expectations. US tech earnings have been among the strongest in the first-quarter reporting season, with revisions in the sector outpacing the rest of the market. However, earnings results also suggest a broadening market, according to Solita Marcelli at UBS Global Wealth Management. South Korea unveiled a $19 billion package of incentives to bolster its chip sector, a boon to Samsung Electronics Co. and SK Hynix Inc. as they race to stay ahead in an increasingly competitive industry. Gold fell for a second day after dropping 1.7% Wednesday following the Fed minutes. West Texas Intermediate also slipped, on track for its fourth daily decline. Copper prices fell on signs of weakening demand. US After Hours NVDA +7.5% higher on earnings, 10-for-1 stock split and dividend increase; DD +4% on plans to separate into three cos; RAMP +15.6%, ZUO +8%, SNOW +3.5% higher on earnings; VFC -11% lower on earnings.
Nikkei +1.11% Hang Seng -1.69% CSI -1.14% Shanghai -1.24% Shenzen -1.64%
Eur$ 1.0824 CNH 7.2558 CNY 7.2442 JPY 156.73 GBP 1.2773 CHF 0.9148 RUB 90.3623 TRY 32.1902 WTI$ 76.94 -0.83% Gold 2,361 -0.71% BTC 69,391 -0.03% ETH 3,766 +0.46%
S&P +0.57% Nasdaq +0.89% EuroStoxx +0.26% FTSE -0.01% Dax +0.11% SMI
Macro :
- Second Human Bird Flu Infection in US Reported in Michigan
- Goldman’s CEO Solomon Says He Sees ‘Zero’ Rate Cuts This Year
- JPMorgan’s Dimon Says US Economy Could See ‘Hard Landing’: CNBC
Keep an eye on :
Keep an eye on :
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- ADMR LN : Franklin’s Admiral Acquisition Buying Acuren for $1.85 Billion
- ADDTB SS : Addtech Committee Proposes Malin Nordesjo Elected as Chairman
- AGS BB : Ageas to Buy Stake in Taiping Pension for 1.075b Yuan (Monday)
- AMBEA SS : Ambea Holders Offer 7.6m Shares via DNB Markets, SEB
- ASML NA : Handelsblad: ASML invests 80 million euros in chip research at TU Eindhoven
- BORR NO : Borr Drilling 1Q Adjusted Ebitda Misses Estimates
- EVD GY : CTS Eventim 1Q Revenue EU408.7M Vs. EU366.2M Y/y
- CYTK US : Cytokinetics Offering of 9.8m Shares Prices at $51/Share
- DBHN GY : Deutsche Bahn Said to Gather Bids for €15 Billion Logistics Arm
- DOCM SW : DocMorris Exercises Early Redemption Option on Convertible Bonds
- EMBRACB SS : Embracer 4Q Adjusted Ebit Meets Estimates
- ENI IM : Eni Is Studying 20% Stake Sale in Biorefining Unit Enilive
- EAPI FP : Euroapi Gets €130M to €150M Animal Health Supply Contract
- GALE SW : Galenica 4 Month Sales Rise 4.8% to CHF1.26B
- GXI GY : Gerresheimer to Buy Blitz Luxco Sarl for €800m Enterprise Value
- GIMB BB : Gimv FY Net Income EU217.1M Vs. Loss EU59.5M Y/y
- GREEN BB : Greenyard FY Adjusted Ebitda From Continuing Ops Beats Estimates
- HL/ LN : Consortium Confirms Possible Offer for Hargreaves Lansdown
- IBAB BB : Ion Beam Applications: Group Backlog Remains at a High of €1.4B
- IP US : International Paper ‘Not Actively Engaged With Suzano’: Truist
- BAER SW : Julius Baer Sees Client Flows Recover After Benko Scandal
- LOGN Sw : Logitech, Garmin Sales to Buck Weak Spending on Tech Hardware
- MMB FP : Lagardère Signs MoU for Paris Match Sale at €120M Ent. Value
- MRK US : Merck KGaA to Acquire Mirus Bio for $600M
- META US : Meta's Licensing of Data Sources Reveals Search Ambition: React
- META US : Meta's Licensing of Data Sources Reveals Search Ambition: React
- SAB SM : BBVA CEO Repeats He Won’t Improve Sabadell Bid: Expansion
- SBO AV : Schoeller-Bleckmann 1Q Net Income EU15.0M
- GLE FP : SocGen CEO Says EU Banking M&A Is ‘Extraordinarily Unlikely’
- SOI FP : Soitec, Tokai Carbon to Partner on Smartsic Wafers
- TEL NO : Telenor Names Benedicte Schilbred Fasmer CEO to Replace Brekke
- TSLA US : Tesla Tells Suppliers to Make Parts Outside China, Taiwan:Nikkei
- WBD IM : Salini Offers €225M Bonds Exchangeable Into Webuild Shares
- WBD IM : Webuild Delta Placing Up to 33m Shares: Terms
- WETTERI FH :
- WIZZ LN : Wizz Air Sees 2025 Net Income EU500M to EU600M, Est. EU515M
- XXL NO : XXL Plans Subsequent Offering of Up To 85.7m Shrs at NOK0.70/Shr