Asian Stocks Look Mixed as Traders Await Nvidia: Markets Wrap

-- Asian stocks are set for a listless day following a cautious session on Wall Street as traders keenly await Wednesday’s earnings from Nvidia Corp., the chipmaker at the heart of the artificial-intelligence frenzy that’s powered the bull market.One of the Last Big Bears on Wall Street Turns Bullish on US Stocks

Another raft of Federal Reserve speakers only reiterated the wait-and-see approach on rates. Treasuries edged lower at the start of a busy week for investment-grade issuance as firms rush to sell bonds ahead of the US holiday weekend. Ten-year yields rose two basis points to 4.44%. Another part is enthusiasm for AI technology. Chip giant Nvidia on its own is responsible for about one-fourth of the gains in S&P 500. And together with Microsoft Corp., Amazon.com Inc., Meta Platforms Inc. and Google’s parent Alphabet Inc., roughly 53% of the benchmark’s rise is coming from just five stocks.

Elsewhere, commodities traders will be looking to see if the rallies that saw both copper and gold surge to all-time highs on Monday can be maintained. Brent hovered near $84 a barrel after posting its first weekly advance this month, while West Texas Intermediate settled near $80.Eurozone S&P Global Services PMI, S&P Global Manufacturing PMI, consumer confidence, ThursdayFed’s Christopher Waller speaks, FridayWest Texas Intermediate Crude fell 0.2% to $79.

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