Business & Finance
Asian stock markets trade mixed following Wall Street losses and Nvidia earnings
Global markets respond to tech corporate results, U.S. economic data, and a major legal settlement involving Meta Platforms.
The short version
- Asian equities traded with mixed results on Thursday following slight drops across major U.S. stock indexes.
- U.S. stock futures advanced after Nvidia posted strong quarterly results driven by robust artificial intelligence chip demand.
- Fresh U.S. economic data showed second-quarter GDP growth at an annualized rate of 1.5%, while key inflation indicators remained at 3.7%.
Key facts
- South Korea's Kospi index rose 1.5%, Taiwan's Taiex added 0.5%, and Japan's Nikkei 225 fell 0.2% on Thursday.[Associated Press]
- The S&P 500, Dow Jones Industrial Average, and Nasdaq composite all registered minor declines during Wednesday's U.S. trading session.[Associated Press]
- Nvidia reported that its revenue for the May-July quarter more than doubled year-over-year.[Associated Press]
- Meta Platforms agreed to a settlement of up to $18 billion and committed to implement child-safety features on Facebook and Instagram to resolve lawsuits concerning teen social media addiction.[Associated Press]
- Revised official figures show U.S. gross domestic product grew at a 1.5% pace in the second quarter, while the Federal Reserve's preferred inflation metric held at 3.7% in July.[Associated Press]
What remains uncertain
- Investors remain uncertain whether massive capital expenditures in artificial intelligence infrastructure will yield sufficient earnings fast enough to prevent a valuation bubble.[Associated Press]