Latest news with #TechEarnings
Bloomberg
2 days ago
- Business
- Bloomberg
HSBC's Private Bank Turns Overweight US Stocks on AI Hopes
HSBC's private banking arm has gone overweight US stocks and neutral on those in Europe, flipping its view from earlier this year after a breezy round of earnings from US tech companies. The country's tech giants defied a recent sense of gloom on Wall Street to deliver first-quarter earnings that mostly showed strong growth despite President Donald Trump's disruptive trade policies. That cemented the private bank's enthusiasm for stocks that are likely to benefit from the artificial intelligence boom, according to Willem Sels, global chief investment officer at HSBC Global Private Banking and Premier Wealth.
Zawya
28-05-2025
- Business
- Zawya
Asian shares, U.S. dollar climb on rosy data, tech optimism
TOKYO: Asian shares continued a rally from Wall Street and the dollar held gains on Wednesday on promising economic signs in the United States and speculation of strong tech earnings. Markets welcomed what appeared to be easing trade frictions between the U.S. and Europe while global bond markets settled down after a scary surge in long-term yields. U.S. consumer confidence surprised on the upside ahead of closely watched jobs figures on Thursday. Nvidia jumped more than 4% yesterday and will be the last of the Magnificent 7 tech giants to report earnings after markets close in the U.S. "There is renewed confidence that Nvidia can beat the consensus estimates," said Chris Weston, head of research at Pepperstone. If Nvidia comes through with better-than-expected sales and profit margins "the rally is on," he added. The chipmaker is expected to report that first-quarter revenue surged 66.2% to $43.28 billion, according to data compiled by LSEG. In signs of a thaw between the U.S. and Europe, European Union officials have asked companies for details of their U.S. investment plans, according to two sources familiar with the matter. MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.3% in morning trading while Japan's Nikkei advanced 0.6%, climbing a fourth straight session. The dollar index, which tracks the greenback against a basket of currencies, rose 0.1%, adding to Tuesday's 0.6% rally. The greenback advanced 0.1% to $1.132 against the euro . Australian shares were up 0.17%, but the nation's currency slid 0.2% after April consumer price data came in above expectations. The kiwi dollar slid 0.3% after the Reserve Bank of New Zealand cut rates as expected. Japanese bonds slid, trimming a surge yesterday, ahead of a 40-year auction and on speculation the Ministry of Finance will reduce the issuance of long-dated securities. Oil prices ticked up in early trading as the U.S. barred Chevron CVX.N from exporting crude from Venezuela under a new authorization on its assets there, raising the prospect of tighter supply. Brent crude futures rose 0.4% to $64.37 a barrel, while U.S. Spot gold rallied 0.1% after dropping more than 1% on Tuesday.
Bloomberg
14-05-2025
- Business
- Bloomberg
Chinese Stocks Advance on Growing Optimism Over Tech Earnings
Chinese shares rose before earnings announcements by key tech firms, with sentiment also boosted by a positive report on Contemporary Amperex Technology Co.'s offering. The Hang Seng China Enterprises Index climbed as much as 2.3%, recouping losses from the previous session. Tencent Holdings Ltd., Xiaomi Corp. and Alibaba Group Holding Ltd. were the biggest contributors to the gauge's gains. The onshore benchmark CSI 300 Index rose as much as 1.7%.
