From Spectrum News: 2024-05-23 08:23:00

U.S. stocks ascend following Nvidia’s impressive earnings report, with the S&P 500 up 0.4% and Nasdaq hitting a new high. Nvidia’s revenue surged 262% and profit rose 629%, driving a 9.2% stock increase. Concerns of an AI bubble persist, but AMD and other chip companies also rise, offsetting VF Corp’s 9.8% drop.

Treasury yields stabilize post positive job market report, with fewer unemployment benefits claims. 10-year Treasury yield at 4.42%, while two-year yield rises to 4.88%. Fed aims to balance economic slowdown with inflation control. Wall Street optimism grows for favorable economic scenario.

Global stock markets vary, with Japan’s Nikkei 225 climbing 1.3% and Hong Kong and Shanghai indexes dropping. Semiconductor-related companies receive boost from Nvidia’s earnings. China’s property sector crisis prompts concerns over policy effectiveness.



Read more at Spectrum News: Asian shares are mixed, with China stocks down, after Wall St retreat