Japanese Stocks to Rise as Nvidia Rebound Lifts US: Markets Wrap

-- Stocks in Japan are set to follow a rally in tech companies that boosted Wall Street, with Nvidia Corp. climbing roughly 7% after a $430 billion rout.Futures pointed to gains in Tokyo, while Sydney and Hong Kong are set to open lower. The giant chipmaker led gains in the “Magnificent Seven” cohort of megacaps. In late trading, FedEx Corp. — a barometer of economic growth — jumped about 15% on a bullish forecast.

In Japan, the central bank is expected to raise its interest rate in July in addition to unveiling a roadmap for its path toward quantitative tightening, according to one-third of economists surveyed by Bloomberg. On Tuesday, the yen lingered just shy of the psychologically level of 160 against the greenback.

Even after an about 15% rally year-to-date, strategists led by Manish Kabra expect the S&P 500 to “stay in buy-the-dip mode, with the next upleg coming closer to a Fed rate-cutting cycle.” “Nvidia’s correction shouldn’t be mistaken as a warning signal on either the structural investment case for AI or the broader equity outlook,” wrote Solita Marcelli, chief investment officer Americas at UBS Global Wealth Management.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Japanese Stocks to Rise as Nvidia Rebound Lifts US: Markets WrapStocks in Japan are set to follow a rally in tech companies that boosted Wall Street, with Nvidia Corp. climbing roughly 7% after a $430 billion rout.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Nasdaq futures rise as Nvidia stabilizes after AI stocks routThe Kitco News Team brings you the latest news, videos, analysis and opinions regarding Precious Metals, Crypto, Mining, World Markets and Global Economy.
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

Markets today: U.S. stocks rise as bullish Nvidia call boosts AI tradeA rally in chipmakers drove stocks to another record, with traders betting the potential for Federal Reserve rate cuts will keep fueling the industry that has powered the equity market this year.
Source: BNNBloomberg - 🏆 83. / 50 Read more »

Stock market today: Stocks little changed as Nvidia, AI rally shows signs of fatigueA tech-led rally showed real signs of fatigue for the first time in over a week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

Premarket: Global stocks boosted by Nvidia rallyU.S. markets are closed on Wednesday, which will likely result in muted trading throughout the day
Source: globeandmail - 🏆 5. / 92 Read more »

Markets today: Tech megacaps lift stocks after Nvidia’s selloffA rally in the world’s largest technology companies lifted stocks, with traders also wading through economic data and remarks from Federal Reserve speakers for clues on the outlook for rates.
Source: BNNBloomberg - 🏆 83. / 50 Read more »