TOKYO (AP) — Market Insights Post-State of the Union
U.S. futures exhibited stability on Wednesday following President Donald Trump’s State of the Union address, while global equity markets largely trended upward.
In Europe, France’s CAC 40 saw a modest increase of 0.3% early in trading, reaching 8,542.30. The German DAX posted a 0.2% gain, climbing to 25,024.38, whereas Britain’s FTSE 100 soared by 0.8% to 10,763.15.
The futures for the S&P 500 and the Dow Jones Industrial Average each rose by 0.1%.
Japan’s benchmark index recorded a brief peak, buoyed by a Wall Street rally stemming from growing enthusiasm regarding the artificial intelligence sector. The Tokyo Nikkei 225 surged by 2.2%, concluding the session at 58,583.12.
Equities also advanced in China, with Hong Kong’s Hang Seng climbing 0.7% to 26,765.72 and the Shanghai Composite adding 0.7% to reach 4,147.23. South Korea’s Kospi experienced a remarkable 1.9% increase, settling at 6,083.86, reflecting the rising global appetite for semiconductor products.
In Taiwan, the Taiex leaped by 2.1%, propelled by a 2.5% surge in shares of TSMC, the preeminent contract manufacturer of semiconductors. Australia’s S&P/ASX 200 ascended 1.2% to 9,128.30.
During his address, Trump emphasized job creation, manufacturing initiatives, and the resilience of an economy he purports is stronger than widely perceived.
Notably, he refrained from addressing actions aimed at alleviating living costs, despite surveys indicating that his economic stewardship is increasingly seen as problematic.
On the prior trading day, the S&P 500 and Dow industrials each advanced by 0.8%, while the Nasdaq composite rose by 1%.
Investors are vigilant as they anticipate an earnings report later today from Nvidia, a titan in the semiconductor industry. This quarterly report is expected to significantly influence market sentiment, as stakeholders deliberate on the potential outcomes of substantial investments in burgeoning technologies.
Given the prominence of Nvidia’s chipsets in the artificial intelligence landscape, expectations are extraordinarily high for this latest fiscal quarter’s results, covering the period from November to January.
In early trading on Wednesday, benchmark U.S. crude oil experienced a modest rise, adding 40 cents to reach $66.03 per barrel. Internationally, Brent crude increased by 42 cents, now priced at $71.00 per barrel.
The U.S. dollar strengthened against the Japanese yen, recovering to 156.42 from 155.91. Meanwhile, the euro was priced at $1.1792, up from $1.1774.
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