Asian Stocks Climb, Nvidia Pares Earlier Gains: Markets Wrap

pi]xum4syg409qg1jfgh6opg_media_dl_1.png BloombergArticle content(Bloomberg) — Asian shares rose at the open Thursday, following a bullish session on Wall Street, though the optimism was capped by a tepid response to Nvidia Corp.’s upbeat sales forecast.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe MSCI Asia Pacific Index rose 0.8% while the chipmaker’s shares erased earlier gains in extended trading. US equity-index futures also edged lower in early Asian trading after Nvidia failed to wow investors even with an upbeat forecast, signaling that concerns about an overheated AI economy will continue to dog the company.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentIn Wednesday’s trading, the S&P 500 rose 0.8% and the tech-heavy Nasdaq 100 rose 1.4%. In other parts of the market, Treasuries fell across the curve and the dollar slipped. Precious metals whipsawed but remained in the green during Wednesday’s session. Bitcoin fell 1.5% to trade below $68,000.Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentMarkets were counting on an optimistic outlook from the artificial intelligence bellwether to inject further vim into the AI trade and soothe concerns that a surge in valuations had outpaced fundamentals. By signaling the massive build-out of AI computing remains on track, Nvidia’s forecast could underpin earnings expectations across the semiconductor supply chain and provide a fresh boost for Asian chipmakers.Article contentMarkets were looking to Nvidia’s earnings to provide a sense of calm after heightened concerns recently. Though the average Wall Street estimate was $72.8 billion, some analysts had projected numbers approaching $80 billion, according to data compiled by Bloomberg.Article contentInvestors have been so sensitive that a report from a little-known firm called Citrini Research outlining the potential AI risks to various industries — using hypothetical scenarios set in the future — jolted markets earlier this week. The disruptive potential of the technology has roiled stocks across sectors for weeks in what’s become known as the “AI scare trade.” Article contentArticle contentWolfe Research conducted a poll that suggests most investors bet the AI “wrecking ball” that’s roiled markets is largely “overblown,” said Chris Senyek. However, participants viewed the “broadening out” trade as alive.Article contentAsia, however, has been a beneficiary of the AI boom as traders pile into chipmakers such as Samsung Electronics Co. and Taiwan Semiconductor Manufacturing Co., viewing them as the “picks and shovels” of the AI supply chain.Article contentMeanwhile, President Donald Trump is convening tech executives from firms including Amazon.com Inc., Meta Platforms Inc., Microsoft Corp. and Alphabet Inc. at the White House next week to sign pledges committing their companies to foot the electricity bill for energy-hungry data centers. Article contentTrump will also sign a directive in the coming days raising his global tariff to 15% “where appropriate” and is seeking “continuity” with nations that struck trade deals, US Trade Representative Jamieson Greer said.Article contentCorporate Highlights:Article contentSalesforce Inc. gave a lukewarm outlook for sales growth in the new fiscal year, fueling Wall Street’s worries that the software giant will lose out to new competitors in the age of AI.Qantas Airways Ltd. said profit climbed as new and less fuel-hungry Airbus SE aircraft increasingly replaced the airline’s aging domestic fleet.Lowe’s Co.’s sales guidance for the full year fell short of expectations, a sign the housing market will remain lackluster in the near term.First Solar Inc. issued a 2026 sales forecast below analysts’ estimates.Intuitive Machines Inc. announced a $175 million strategic equity investment to support projects such as an expansion into technology for orbital data centers.Trending Canada's housing market suffers largest price decline among major economies, says BIS Real Estate Australia ships LNG 25,000 kilometres to Eastern Canada amid Asian slump Oil & Gas B.C. widow worried about retirement income with OAS clawbacks Family Finance Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News Garry Marr: Mexico chaos shows it's time to start thinking of your vacation as an investment and hedge your bets Personal Finance Article contentSome of the main moves in markets:Article contentStocksArticle contentS&P 500 futures fell 0.1% as of 9:03 a.m. Tokyo timeHang Seng futures rose 0.7%Japan’s Topix rose 1.2%Australia’s S&P/ASX 200 rose 0.4%Euro Stoxx 50 futures rose 0.7%Article contentCurrenciesArticle contentThe Bloomberg Dollar Spot Index was little changedThe euro was little changed at $1.1815The Japanese yen rose 0.1% to 156.21 per dollarThe offshore yuan was little changed at 6.8532 per dollarThe Australian dollar was little changed at $0.7120Article contentCryptocurrenciesArticle contentBitcoin fell 1.6% to $67,827.26Ether fell 2.4% to $2,050.95Article contentBondsArticle contentAustralia’s 10-year yield declined two basis points to 4.70%Article contentCommoditiesArticle contentWest Texas Intermediate crude rose 0.3% to $65.60 a barrelSpot gold was little changedArticle contentThis story was produced with the assistance of Bloomberg Automation.Article content—With assistance from Richard Henderson.Article contentShare this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Canada's housing market suffers largest price decline among major economies, says BIS Real Estate Australia ships LNG 25,000 kilometres to Eastern Canada amid Asian slump Oil & Gas B.C. widow worried about retirement income with OAS clawbacks Family Finance Posthaste: Canadian dollar is facing a big risk that markets seem to be overlooking News Garry Marr: Mexico chaos shows it's time to start thinking of your vacation as an investment and hedge your bets Personal Finance