Stock market today: Asian shares advance after Nvidia's rebound offsets weakness on Wall St

Japan’s Nikkei jumped 1.3% to 39,667.07, buoyed by strong demand for technology shares driven by the enthusiasm over Nvidia and artificial intelligence.Meanwhile, the dollar inched higher against the Japanese yen, drawing warnings from senior officials in Tokyo of potential intervention in the market.“Fundamentally, the yen remains weak, lacking triggers for a reversal,” Luca Santos, a currency analyst at ACY Securities, said in a commentary.

Most stocks outside Wall Street’s frenzy around artificial-intelligence technology fell. Nvidia climbed 6.8%, and without that gain, the S&P 500 would have dropped to a loss for the day. The chip company’s shares snapped a three-day losing streak where they had shed nearly 13% for their worst such stretch since 2022.of high interest rates. But the AI boom has been so frenzied that it’s raised worries about a possible bubble in the stock market and too-high expectations among investors.

Upper-income households seem to be doing better, and they’re booking trips on cruise ships. Carnival steamed 8.7% higher after it raised its profit forecast for 2024. The cruise company said bookings for the rest of the year are the best on record in terms of both price and occupancy. And bookings for next year may end up even better.

It’s been mostly falling since topping 4.70% in late April, which has relaxed the pressure on the stock market. Yields have sunk on hopes that inflation is slowing enough to convince the Federal Reserve to

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