Stocks rose as Asian semiconductor makers advanced ahead of Nvidia Corp.’s results, with traders looking to the chip bellwether’s earnings for the next beat in the artificial intelligence trade. Oil extended its decline. MSCI’s Asia Pacific equities gauge climbed 1%, with Samsung Electronics Co. and SK Hynix Inc. the biggest contributors. Chip stocks had also advanced on Wall Street, with Nvidia snapping a seven-day run of losses before its earnings Wednesday. As sentiment improved, US equity-index futures pared earlier losses to trade little changed. European shares were set for modest gains. Adding to the mood was Brent, dropping for a third consecutive day as Iran and Oman discussed an “interim framework” aimed at resuming shipping through the Strait of Hormuz. The commodity fell 2.6% to around $86.30 a barrel, extending this week’s decline to 8.6%. Oil’s drop eased inflation concerns, helping bonds rally. Treasuries held their gains from Tuesday, when the benchmark 10-year yield fell seven basis points. Government bonds in Japan and New Zealand also advanced, while those in Australia erased earlier gains and fell after an inflation report boosted bets on an interest-rate hike. Three key events are set to shape trading this week — Nvidia’s earnings will offer clues on whether the AI rally can regain momentum, while the US PCE gauge later Wednesday will provide signs of whether inflation remains persistent. Attention will then turn to Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday for signals on the path of interest rates. In other corners of the market, the Canadian dollar was weaker after Canadian Prime Minister Mark Carney matched new tariffs imposed by President Donald Trump and announced support for businesses hurt by the escalating trade dispute with the country’s largest trading partner. The US is weighing more trade measures against Canada over the retaliation. Dan Suzuki, global investment strategist at iCapital, discusses the Treasury’s recent attempts to lower long-term yields. Gold fell 0.4% to $4,640 an ounce, while Bitcoin edged higher to trade around $79,000. In Asia, Samsung and SK Hynix both rose nearly 3%, helping the Kospi Index — the world’s second-best-performing major gauge this year — rally almost 2%. The gains followed recent pressure on the AI trade as investors questioned whether the billions of dollars being spent on the technology would generate commensurate returns. Analysts estimate Nvidia’s revenue nearly doubled from a year earlier to $92 billion last quarter, more than any of its rivals generate in a full year. Meanwhile, data Tuesday showed US consumer confidence fell to a seven-month low in August as the outlook for business conditions and the labor market deteriorated. On Wednesday, investors will turn to the personal consumption expenditures price index — the Fed’s preferred inflation gauge — for another read on the economy. Attention will then shift to the annual Jackson Hole Symposium on Friday, where Warsh will deliver his first major speech as Fed chair. Investors will look for greater clarity on his assessment of the economy and the path for monetary policy. US After Hours INTU -8.8%, NCNO -7.3%, ZM -4.5% lower on earnings; SMTC +3.6%, HEI +2.4% higher on earnings; SYRE -11.5% lower on topline results.
Nikkei +0.72% Hang Seng +0.76% CSI +0.97% Kospi +1.36% Shanghai +0.67% Shenzen +0.60%
S&P -0.10% Nasdaq -0.15% EuroStoxx +0.14% FTSE +0.17% Dax -0.07% SMI +0.16%
Macro :
- AI-Related Off-Balance-Sheet Commitments Top $3 Trillion: MS
- Korean Won, Brazil Rates Shine on AI Boom, El Niño: Macro View
Keep an eye on :
Keep an eye on :
- AGFB BB : Agfa-Gevaert 2Q Revenue Misses Estimates
- AKRBP NO : Aker BP Starts Production From Skarv Satellite Project
- ALSYDB DC
- AMBU DC : Ambu 3Q Revenue Matches Estimates, Ambu Shares May Drop on Underlying Ebit Miss, JPMorgan Says
- AMBU DC : Ambu 3Q Revenue Matches Estimates, Ambu Shares May Drop on Underlying Ebit Miss, JPMorgan Says
- AAL LN : Anglo Confident on Copper Target Despite Chile, Peru Weather
- Anthropic IPO : Anthropic Expected to Tell Investors It Sees Over $30 Trillion in Potential Revenue -- WSJ
- AML LN : Aston Martin Set to Drop Out of FTSE 250 as Turnaround Splutters
- AT1 GY : Aroundtown 1H Adjusted Ebitda EU500M Vs. EU500.6M Y/y
- BHVN US : SK Biopharm Signs Up to $795m License-In Deal With Biohaven
- BA US : Boeing Wins $163 Million U.S. Air Force Contract
- DEME BB : DEME Group 1H Turnover Beats Estimates
- EZJ LN : EasyJet Indicated to Join FTSE 100, Entain Indicated to Leave
- ENT LN : EasyJet Indicated to Join FTSE 100, Entain Indicated to Leave
- GTT FP : GTT Gets Order From Jiangnan for Tank Design of 4 LNG Carriers
- HAUTO NO : Hoegh Autoliners Offering of 8.5m Shares Prices at NOK167/Share
- HPQ US : China’s Huawei Signs WiFi Patent Licensing Agreement With HP
- ISN SW : Intershop 1H Net Income CHF67.5M Vs. CHF175.9M Y/y (1)
- KUD SW : Kudelski 1H Ebitda Loss $11.5M Vs. Loss $19.1M Y/y
- EGP PL : Mota-Engil Gets $655 Million Nigeria Rail Contract Extension
- MPCC NO : MPC Container Ships 2Q Revenue Beats Estimates
- Open AI IPO : OpenAI's Head of Data Centers Has Left Company -- WSJ
- Open AI IPO : OpenAI Says Its New Chip Performs Better Than Nvidia’s: TMT Wrap
- OVH FP : OVHcloud CFO Stéphanie Besnier to Step Down
- PAALB DC : Per Aarsleff Reports 9-MO Revenue of DKK 18.9 Billion
- SAF FP : HAL, Safran Sign Final Contract to Develop Helicopter Engine
- ENR GY : Siemens Energy to Separate Its Transformation of Industry Unit
- SWON SW : SoftwareONE 1H Adjusted Ebitda Beats Estimates
- SPCX US : SpaceX Plans $100 Billion Starship Launch Site in Louisiana
- SPCX US : SpaceX Plans $100 Billion Starship Launch Site in Louisiana
- SPCX US : JPMorgan relaxes restrictions on borrowing against SpaceX shares
- SRAIL SW : Stadler Rail 1H Ebit Beats Estimates
- STORYB SS : Storytel To Repurchase Up to 2.4m B-Shares for SEK300m
- TE FP : Technip Energies Wins Contract for Adnoc Offshore in UAE
- VIG AV : Vienna Insurance 1H Pretax Profit Meets Estimates
- XPEV US : XPeng Bets Robots Will Be More Profitable Than Its Cars -- Interview
- YIT FH : YIT Wins ~€30m Oulu Passenger Rail Yard Contract
- ZAB PW : Couche-Tard Launches Takeover Bid for Zabka at PLN32/Share