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Asian Stocks Rise for Third Day as Nvidia Beats
Nvidia’s revenue more than doubled and its upbeat forecast lifted tech hardware shares, while traders also weighed firmer U.S. inflation data.
- On Aug 27, Asia-Pacific stocks climbed 0.7% for a third consecutive day as Nvidia's earnings report showed quarterly revenue more than doubled, beating Wall Street estimates.
- The market rally occurred despite the Federal Reserve's preferred inflation measure rising 0.2%, prompting Societe Generale analysts to note the backdrop looks "somewhat firmer" heading into the September FOMC meeting.
- Nvidia shares jumped 4.7% in after-hours trading, with Chris Weston, head of research at Pepperstone Group in Melbourne, stating, "The business is in absolutely rude health."
- Gold rallied 0.7% following a pullback, as investors benefited from the revival of so-called "dollar debasement trades" after the Treasury Department intervened in bond markets last week.
- The yield on the 10-year Treasury bond fell 1.5 basis points to 4.647%, while markets await Fed Chair Kevin Warsh's speech in Jackson Hole, Wyoming, on Friday for clues on interest-rate direction.
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Asian Stocks Rise as Nvidia Earnings Boost Technology Shares and Investor Confidence
Asian stocks climbed on Thursday after Nvidia delivered quarterly results that exceeded expectations, giving technology shares a boost and helping restore investor confidence after fresh ... The post Asian Stocks Rise as Nvidia Earnings Boost Technology Shares and Investor Confidence first appeared on [your]NEWS.
Two topics dominate the market in Asia: the new quarterly figures of the chip group Nvidia and the US inflation data. The indices are mixed.
·Düsseldorf, Germany
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Total News Sources14
Leaning Left0Leaning Right6Center2Last UpdatedBias Distribution75% Right
Bias Distribution
- 75% of the sources lean Right
75% Right
C 25%
R 75%
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