Asian Stocks Slip Ahead of Nvidia Earnings and US Inflation Data 
Hong Kong Home Prices Fall 0.5% in July, Ending Long Winning Streak 
US Dollar Rises as Inflation Backs Fed Pause, Canadian Dollar Slides 
Gold Prices Hover Near Three-Month High as Oil, Treasury Yields Fall 
Dollar Steady Ahead of Jackson Hole as Yen Holds Firm 
Carney’s Trump Tariff Pushback Wins Canadian Support, but Economic Risks Mount 
BOJ’s Himino Signals Timely Rate Hikes as Inflation Risks Rise 
Qatar LNG Exports Plunge 96% as U.S.-Iran War Disrupts Gulf Energy Trade 
Asian Currencies Mixed as Aussie Dollar Rises on Hot Inflation 
Dollar Rises as Hotter PCE Inflation Lifts Fed Rate Hike Bets 
Asian Stocks Rebound as Oil Prices Fall, Nvidia Earnings in Focus 
Japan Firms Ramp Up Yen Hedging as Currency Weakness Persists 
US PCE Inflation Holds at 3.7% as Fed Rate Decision Looms 
US Stocks Finish Flat as Inflation Data, Nvidia Earnings Keep Investors Cautious 
Gold Prices Fall as Stronger Dollar, Fed Rate Outlook Weigh 
Asian Chip Stocks Mixed After Nvidia Earnings Beat 
Add as a preferred source on Google
The S&P 500 and Nasdaq closed at fresh record highs on Friday as investors poured into AI-related stocks and welcomed stronger-than-expected U.S. jobs data, reinforcing confidence in the resilience of the American economy. Nvidia, Micron Technology, and Sandisk led gains in the technology sector, helping push Wall Street higher despite ongoing geopolitical tensions in the Middle East and concerns over rising oil prices.
The S&P 500 advanced 0.84% to finish at 7,398.93, while the Nasdaq surged 1.71% to close at 26,247.08. The Dow Jones Industrial Average edged up 0.02% to 49,609.16. Technology stocks remained the primary driver of the rally, with the S&P 500 technology index climbing 2.7%.
AI-focused chipmaker Nvidia gained 1.8%, while Micron Technology and Sandisk jumped more than 15% each due to strong demand linked to the rapid expansion of AI data centers. The Philadelphia Semiconductor Index also soared, extending its second-quarter gains to 55%.
Investor sentiment was further supported by solid corporate earnings. According to LSEG I/B/E/S, first-quarter S&P 500 earnings are projected to rise nearly 29% year-over-year, fueled largely by major AI companies. About 83% of the 440 S&P 500 companies that have reported earnings so far have exceeded analyst expectations.
Economic data also played a key role in boosting markets. U.S. employment increased more than expected in April, while the unemployment rate held steady at 4.3%, signaling continued labor market strength. Traders now widely expect the Federal Reserve to keep interest rates unchanged in the 3.50% to 3.75% range through the end of 2026.
Despite the positive momentum, some companies faced sharp declines. Cloudflare plunged 24% after announcing workforce reductions and weaker revenue guidance. Expedia dropped 9% after warning that the Middle East conflict was hurting travel demand, while CoreWeave and Trade Desk also posted losses.
The S&P 500 and Nasdaq recorded their sixth consecutive weekly gains, highlighting continued investor optimism surrounding AI growth, corporate earnings, and economic stability in 2026.
