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most of Asian After this the shares rose on Thursday NVIDIA Stronger-than-expected quarterly earnings were reported, soothing concerns that AI-driven stock prices could go too high.
US futures and oil prices were higher.
Japan’s Nikkei 225 index rose as much as 4.2% early on, then gave up some early gains. By early afternoon, it was up 2.6% at 49,801.81 as technology shares rose after the close of trading in the U.S. Investor sentiment was boosted by Nvidia’s report of quarterly revenue of $57 billion, which was well above expectations.
South Korea’s Kospi rose 3% to 4,047.57, with gains led by technology and energy shares. Investors were encouraged by Nvidia’s earnings and reports that the US may delay planned semiconductor tariffs.
Samsung Electronics rose 6.1%, while SK Hynix gained 3.5%.
Marginal gains were seen in Chinese markets. Hong Kong’s Hang Seng index rose 0.1% to 25,867.87, while the Shanghai Composite index rose 0.4% to 3,961.71. Taiwan’s Taiex rose 3.2%.
Australia’s S&P/ASX 200 rose 1.2% to 8,546.10, also leading technology shares.
On Wednesday, the US stock market went through another volatile day of trading, ahead of some important tests wall Street,
The S&P 500 rose 0.4%, paring a small loss and jumping 1.1% earlier in the day. That snapped a four-day losing streak, the longest in nearly three months for the index, which has been shaken by concerns that stock prices have risen too high and the Federal Reserve may not cut interest rates as expected.
The Dow Jones Industrial Average rose 47 points, or 0.1%, and the Nasdaq Composite climbed 0.6%.
Constellation Energy led the market and gained 5.3% after the U.S. Department of Energy said it was offering a $1 billion loan to help restart Constellation’s nuclear power plant at Three Mile Island. Lowe’s rose 4% after the home-improvement retailer reported stronger summer profit than analysts expected.
They helped offset a 2.8% decline for Target, which reported weaker revenue for the latest quarter than analysts expected. The retailer also indicated that challenges could continue heading into the crucial holiday shopping season.
However, the market’s focus remained on Nvidia. Wall Street’s most influential stock climbed 2.8% as traders made their final moves ahead of the chip company’s latest profit report, which came after trading ended for the day. Nvidia rose 5.1% in after-hours trading.
Nvidia is now the biggest stock on Wall Street, briefly valued at just above $5 trillion. This means that its movements have a greater impact on the S&P 500 than any other stock, and it can single-handedly control the direction of the index over the course of a few days.
One way Nvidia can calm the criticism that it has blown up too much, which has dragged its stock down nearly 10% since the end of last month, is to continue posting big profits. This is because stock prices track profits over the long term.
Nvidia has become the driver of widespread hysteria around artificial-intelligence technology, as other companies are using its chips to boost their AI efforts.
Traders also took their final steps on Thursday ahead of the upcoming September jobs report from the US government.
The job market has been so slow this year that the Fed has already cut its key interest rate twice. Lower rates could boost the economy and prices for investment, and Wall Street was expecting more cuts, including at the Fed’s next meeting in December.
But some Fed officials are signaling they should pause next month, as inflation continues to remain above the Fed’s 2% target. Low interest rates could make inflation worse.
In other deals Thursday, U.S. benchmark crude oil rose 16 cents to $59.41 a barrel. Brent crude, the international benchmark, rose 16 cents to $63.67 a barrel.
US dollar rose to 157.32 Japani From JPY 157.15. It traded near its highest level this year on hopes the government will delay efforts to rein in Japan’s national debt as Prime Minister Sanae Takachi boosts spending to help stimulate the economy.
The euro fell to $1.1520 from $1.1538.
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AP Business writers Stan Choe and Matt Ott contributed.