Asian Markets Mostly Down, Awaiting Nvidia Earnings.

Asian Markets Mostly Down, Waiting for Nvidia Earnings Asian stocks remain mixed on Wednesday despite Wall Street reaching a new high. All investors are anticipating Nvidia’s earnings report. Japan’s Markets Added Only a Little Japan’s Nikkei 225 added 0.2% to 38,352.07 in less. Toyota shares gained 3.7%, following an announcement from the Nikkei news outlet.

According to a source, Toyota will announce a partnership with BMW on fuel cells next week. Australia’s Markets Saw a Few Minutes Moment Australia’s S&P/ASX 200 added nearly 0.1%, reaching 8,071.40. Inflation dropped to 3.5% from July 2021. South Korea’s Cospi sank While South Korea’s Kospi slipped 0.2% to 2,684.41. Hang Seng and China Declined Hong Kong’s Hang Seng dropped almost 1.0% to 17,700.81. According to analysts, China’s industrial profits exceeded expectations.

However, the results were not sufficient to maintain confidence in investors. Shares of the Shanghai Composite Index plunged 0.6 percent to 2,832.59. Nvidia Earnings Report Shares in Nvidia, a US computer power player in the tech giant, are increasing ahead of the release of its latest earnings report. Nvidia’s market value increased to more than $3 trillion.

Nvidia shares make up 1.5%, the most by 159 percent this year. “This week’s result depends on what investors learn from Nvidia’s statement,” stated Bill Merz, U.S. Bank Wealth Management’s head of capital market export.

Investors are also eyeing the Federal Reserve’s next meeting in September and hoping for an interest rate cut. Moreover, on Friday, the U.S. government will publish its most recent inflation data in the PCE report, which covers personal consumption and spending.

Wall Street surged: the Dow Jones Industrial Average soared by almost 9 points or 0.02%, hitting its second all-time high in two days, notching an eight-day winning streak. The S&P 500 and Nasdaq composite each rose by 0.2%, moving between small gains and losses during the day. The S&P 500 is now 0.8 percent away from the record high set last month.

The Conference Board announced that U.S. consumer confidence rose from 101.9 in July to 103.3 in August. As consumer spending accounts for roughly 70 percent of U.S. economic activity, it bodes well for the economy. The S&P 500 rose by 8.96 points to finish at 5,625.80 by the end of trading.

The Dow increased by 9.98 points to 41,250.50, and the Nasdaq increased by 29.05 points to close at 17,754.82. Treasury yields were unchanged, with the 10-year Treasury yield increasing slightly to 3.83 percent. U.S. crude remained unchanged at $75.53 per barrel, while Brent crude remained stable at $79.55 per barrel. The U.S. dollar strengthened to 144.53 yen from 143.91 yen, while the euro dropped slightly to $1.1140 from $1.1188.