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Stock market today (May 21, 2024): Asian shares mostly decline after Nasdaq ticks to a record high

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TOKYO — Asian shares mostly fell Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia. Japan's benchmark Nikkei 225 rose 0.2% in early trading to 39,141.08. Australia's S&P/ASX 200 lost 0.2% to 7,851.90. South Korea's Kospi fell 0.4% to 2,732.26.

TOKYO — Asian shares mostly fell Tuesday, even as most U.S. stock indexes finished higher, especially technology issues like Nvidia.

In Asia, investors are focused on signs about the health of Chinese economy. S&P Global Market Intelligence raised this year’s growth forecast to 4.8% from 4.7% in April, but stressed it was not overly optimistic. Monday on Wall Street, the S&P 500 rose 0.1% to 5,308.13 and pulled within 0.02 of its record set last week. The Nasdaq composite gained 0.7% to 16,794.87 to set its own all-time high.the 40,000 levelNorwegian Cruise Line helped lead the market and steamed 7.6% higher after giving financial forecasts for the year that topped analysts’ expectations. It said demand is growing for cruises, and some of its competitors gained in its wake. Carnival rose 7.3%, and Royal Caribbean Group gained 4.1%.

this year as inflation hopefully cools. More reports showing big U.S. companies are earning fatter profits than expected also boosted stock prices. in the right direction following a discouraging start to the year. But some potentially market-moving reports on corporate profits are on the calendar. amid a frenzy around artificial-intelligence technology has been a major reason for the S&P 500’s gains over the last year.

 

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