S&P 500   4,957.13 (-1.08%)
DOW   37,869.42 (+0.25%)
QQQ   415.59 (-1.85%)
AAPL   164.79 (-1.35%)
MSFT   399.03 (-1.30%)
META   480.43 (-4.26%)
GOOGL   153.65 (-1.51%)
AMZN   174.04 (-2.89%)
TSLA   147.27 (-1.77%)
NVDA   778.40 (-8.07%)
AMD   146.30 (-5.66%)
NIO   3.80 (-5.00%)
BABA   68.93 (+0.07%)
T   16.48 (+0.92%)
F   12.07 (+0.08%)
MU   106.32 (-5.01%)
GE   148.44 (-2.94%)
CGC   8.03 (+2.55%)
DIS   112.25 (-0.16%)
AMC   3.17 (+8.56%)
PFE   25.89 (+1.97%)
PYPL   61.86 (-0.39%)
XOM   119.71 (+1.00%)
S&P 500   4,957.13 (-1.08%)
DOW   37,869.42 (+0.25%)
QQQ   415.59 (-1.85%)
AAPL   164.79 (-1.35%)
MSFT   399.03 (-1.30%)
META   480.43 (-4.26%)
GOOGL   153.65 (-1.51%)
AMZN   174.04 (-2.89%)
TSLA   147.27 (-1.77%)
NVDA   778.40 (-8.07%)
AMD   146.30 (-5.66%)
NIO   3.80 (-5.00%)
BABA   68.93 (+0.07%)
T   16.48 (+0.92%)
F   12.07 (+0.08%)
MU   106.32 (-5.01%)
GE   148.44 (-2.94%)
CGC   8.03 (+2.55%)
DIS   112.25 (-0.16%)
AMC   3.17 (+8.56%)
PFE   25.89 (+1.97%)
PYPL   61.86 (-0.39%)
XOM   119.71 (+1.00%)
S&P 500   4,957.13 (-1.08%)
DOW   37,869.42 (+0.25%)
QQQ   415.59 (-1.85%)
AAPL   164.79 (-1.35%)
MSFT   399.03 (-1.30%)
META   480.43 (-4.26%)
GOOGL   153.65 (-1.51%)
AMZN   174.04 (-2.89%)
TSLA   147.27 (-1.77%)
NVDA   778.40 (-8.07%)
AMD   146.30 (-5.66%)
NIO   3.80 (-5.00%)
BABA   68.93 (+0.07%)
T   16.48 (+0.92%)
F   12.07 (+0.08%)
MU   106.32 (-5.01%)
GE   148.44 (-2.94%)
CGC   8.03 (+2.55%)
DIS   112.25 (-0.16%)
AMC   3.17 (+8.56%)
PFE   25.89 (+1.97%)
PYPL   61.86 (-0.39%)
XOM   119.71 (+1.00%)
S&P 500   4,957.13 (-1.08%)
DOW   37,869.42 (+0.25%)
QQQ   415.59 (-1.85%)
AAPL   164.79 (-1.35%)
MSFT   399.03 (-1.30%)
META   480.43 (-4.26%)
GOOGL   153.65 (-1.51%)
AMZN   174.04 (-2.89%)
TSLA   147.27 (-1.77%)
NVDA   778.40 (-8.07%)
AMD   146.30 (-5.66%)
NIO   3.80 (-5.00%)
BABA   68.93 (+0.07%)
T   16.48 (+0.92%)
F   12.07 (+0.08%)
MU   106.32 (-5.01%)
GE   148.44 (-2.94%)
CGC   8.03 (+2.55%)
DIS   112.25 (-0.16%)
AMC   3.17 (+8.56%)
PFE   25.89 (+1.97%)
PYPL   61.86 (-0.39%)
XOM   119.71 (+1.00%)

Stock market today: Asian stocks are mixed after Nvidia sets off a rally on Wall Street


A person walks in front of an electronic stock board showing Japan's Nikkei 225 index at a securities firm Thursday, Feb. 22, 2024, in Tokyo. Japan’s Nikkei 225 share index surged briefly to an all-time high on Thursday, bypassing its previous record set in December 1989.(AP Photo/Eugene Hoshiko)

HONG KONG (AP) — Asian markets were mixed on Friday after Nvidia delivered stunning results, setting off a rally in other technology companies that carried Wall Street to another record high.

Tokyo’s markets were closed for a holiday, a day after they surged to an all-time high.

U.S. futures rose while oil prices fell back.

Hong Kong’s Hang Seng fell 0.2% to 16,705.50 and the Shanghai Composite index was virtually unchanged at 2,983.10.

Government data on Wednesday showed few signs of recovery in China’s real estate market, as prices of new homes in first-tier cities fell 0.4% in January from a month earlier, extending a downward trend.

The property sector accounts for nearly a third of China's economic activity and the industry-wide meltdown has weighed on growth and sapped the confidence of both investors and consumers.

Markets were higher elsewhere in Asia.

Australia’s S&P/ASX 200 was up 0.4% at 7,642.30, the Kospi in Seoul added 0.5% to 2,676.57.

In India, the Sensex gained 0.7% and Bangkok's SET edged 0.1% higher.

On Thursday, the S&P 500 rose 2.1% to 5,087.03, an all-time high. The Nasdaq rose 3% to 16,041.62.

The Dow Jones Industrial Average, which has a smaller weighting in tech stocks, jumped 1.2%, to 39,069.11. That marks its first close above 39,000.

Nvidia’s stock price surged Thursday after delivering another blowout quarter, setting off a rally in other technology companies that carried Wall Street to another record high.

The chipmaker, which soared 16.4%, reported scorching demand for its semiconductors. Its stock has tripled over the past year thanks to a surge in investor enthusiasm for artificial intelligence. Synopsis, which makes software used to test and develop chips, rose 6.9% after raising its profit forecast.

Other chipmakers and companies involved in the chipmaking industry also gained ground. Advanced Micro Devices rose 10.7% and Lam Research added 4.7%.

Technology stocks have been the driving force behind the market’s rally that started in October. Solid earnings from some of the biggest names in the sector are helping justify and reinforce those gains.

Wall Street expects just under 4% growth for earnings in the overall S&P 500 during the fourth quarter. The communication services sector, which includes Google's parent Alphabet, is expected to report 45% growth. Information technology companies, which include Nvidia, are expected to notch 22% growth.

“The near-term momentum in AI-related stocks is likely to continue,” said Solita Marcelli, chief investment officer for the Americas at UBS Global Wealth Management.

Nearly 90% of companies in the S&P 500 have reported earnings. There are still a few big names left to report over the next several weeks, including Lowe's, Dollar Tree and Best Buy.

Wall Street's focus on earnings this week follows economic data from the previous week that prompted a stumble in the market. Inflation data came in hotter than Wall Street expected, while retail sales fell more than anticipated. That raised concerns about the timing of hoped-for interest rate cuts from the Federal Reserve.

Wall Street is now betting that the central bank will start trimming its benchmark rate in June, rather than March.

Investors could get more clarity on inflation next week when the government releases its monthly report on personal consumption and expenditures, the Fed’s preferred measure. The Fed is trying to get inflation back down to its target of 2%. Analysts expect that report to show inflation cooled to 2.3% in January. It peaked at 7.1% in June of 2022.

Bond yields were relatively steady. The yield on the 10-year Treasury rose to 4.33% from 4.32% late Wednesday.

In energy trading, U.S. benchmark crude oil lost 36 cents to $78.25 a barrel. Brent crude, the international standard, gave up 31 cents to $82.39 per barrel.

The U.S. dollar was trading at 150.50 Japanese yen, down slightly from 150.51 yen. The euro rose to $1.0831 from $1.0827.

Where should you invest $1,000 right now?

Before you make your next trade, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis.

Our team has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and none of the big name stocks were on the list.

They believe these five stocks are the five best companies for investors to buy now...

See The Five Stocks Here

These 7 Stocks Will Be Magnificent in 2024 Cover

With average gains of 150% since the start of 2023, now is the time to give these stocks a look and pump up your 2024 portfolio.

Get This Free Report

Featured Articles and Offers

Search Headlines: