Latest news with #techearnings
Reuters
2 days ago
- Business
- Reuters
Shares edge higher in Asia, Nikkei futures near record top
SYDNEY, Aug 11 (Reuters) - Major share indexes crept higher in Asia on Monday as upbeat company earnings underpinned high valuations in the tech sector, while a crucial report on U.S. inflation would likely set the course of the dollar and bonds. While Japan's stock market (.N225), opens new tab was closed for a holiday, futures pushed up to 42,380 and suggested the cash index will test its all-time high of 42,426 this week. EUROSTOXX 50 futures added 0.2%, while FTSE futures rose 0.1% and DAX futures firmed 0.2%. Trade and geopolitics loom large with a U.S. tariff deadline on China due to expire on Tuesday amid expectations it will get extended again, while President Donald Trump and Russian leader Vladimir Putin are due to meet in Alaska on Friday to discuss Ukraine. The main economic release will be U.S. consumer prices on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3% to an annual pace of 3.0% and away from the Federal Reserve target of 2%. An upside surprise would challenge market wagers for a September rate cut, though analysts assume it would have to be a very high number given a downward turn in payrolls is now dominating the outlook. "The tone from the Fed has shifted as a number of officials expressed concerns about growth following the July employment report," said Bruce Kasman, chief economist at JPMorgan. "We now expect the Fed to restart its easing cycle in September," he added. "Recession risks are elevated at 40%, but we do not yet see a case for a larger than 25bp series of cuts." Markets imply around a 90% probability of a September easing, and at least one more cut by year end. Trump's pick for Fed governor, Stephen Miran, may or may not be in place in time to vote for a cut in September, while the choice of a new chair has broadened out to around 10 contenders. The prospect of lower borrowing costs has supported equities, along with a run of strong earnings. Analysts at BofA note 73% of companies had beaten on earnings, well above the 59% long run average, while 78% beat on revenue. "While mentions of 'weak demand' ticked up and tariff concerns remain, corporate sentiment and guidance are improving," they said in a note. S&P 500 futures and Nasdaq futures both edged up 0.1% on Monday to near record highs. Analysts were unsure what to make of a report in the Financial Times that tech majors Nvidia (NVDA.O), opens new tab and AMD (AMD.O), opens new tab have agreed to give the U.S. government 15% of their revenues from chip sales in China, under an arrangement to obtain export licenses for the semiconductors. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab gained 0.3%, while South Korea (.KS11), opens new tab was flat having bounced 2.9% last week. Chinese blue chips (.CSI300), opens new tab added 0.5% after data showed consumer price inflation ticked up in July, but producer prices kept falling as the country's massive manufacturing sector exported deflation to the rest of the world. Figures on industrial output and retail sales for July are due on Friday, and forecasts are for a slight slowdown after a jump the previous month. Currencies were quiet with markets thinned by Japan's absence, with the dollar index a fraction lower at 98.066 after slipping 0.4% last week. The euro added 0.2% to $1.1670 and further away from a recent trough of $1.1392, while the dollar dipped to 147.50 yen having met resistance around 147.90. The Australian dollar eased to $0.6520 ahead of a meeting of the Reserve Bank of Australia which is widely expected to sanction a rate cut, having stunned markets in July by skipping an easing to await more inflation data. The figures turned out benign, so investors have again fully priced a quarter-point cut to 3.60%. In commodity markets, gold fell 0.6% to $3,378 an ounce after wild swings last week on reports the U.S. would slap 39% tariffs on some gold bars, which are major exports of Switzerland. Gold futures pared gains on Friday when the White House said it planned to issue an executive order clarifying the country's stance on gold bar tariffs. Oil prices slipped amid risks the talks between Trump and Putin could make progress to a ceasefire in Ukraine and possibly an eventual easing of sanctions on Russian oil exports. Brent dropped 0.6% to $66.22 a barrel, while U.S. crude eased 0.7% to $63.44 per barrel.
Reuters
3 days ago
- Business
- Reuters
Shares edge ahead in Asia, Nikkei futures near record peak
SYDNEY, Aug 11 (Reuters) - Major share indexes crept higher in Asia on Monday as upbeat company earnings underpinned high valuations in the tech sector, while a crucial report on U.S. inflation would likely set the course of the dollar and bonds. While Japan's stock market (.N225), opens new tab was closed for a holiday, futures climbed to 42,465 and suggested the index will test its all-time high of 42,426 this week. Trade and geopolitics loom large with a U.S. tariff deadline on China due to expire on Tuesday amid expectations it will get extended again, while President Donald Trump and Russian leader Vladimir Putin are due to meet in Alaska on Friday to discuss Ukraine. The main economic release will be U.S. consumer prices on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3% to an annual pace of 3.0% and away from the Federal Reserve target of 2%. An upside surprise would challenge market wagers for a September rate cut, though analysts assume it would have to be a very high number given a downward turn in payrolls is now dominating the outlook. "The tone from the Fed has shifted as a number of officials expressed concerns about growth following the July employment report," said Bruce Kasman, chief economist at JPMorgan. "We now expect the Fed to restart its easing cycle in September," he added. "Recession risks are elevated at 40%, but we do not yet see a case for a larger than 25bp series of cuts." Markets imply around a 90% probability of a September easing, and at least one more cut by year end. Trump's pick for Fed governor, Stephen Miran, may or may not be in place in time to vote for a cut in September, while the choice of a new chair has broadened out to around 10 contenders. The prospect of lower borrowing costs has supported equities, along with a run of strong earnings. Analysts at BofA note 73% of companies had beaten on earnings, well above the 59% long run average, while 78% beat on revenue. "While mentions of 'weak demand' ticked up and tariff concerns remain, corporate sentiment and guidance are improving," they said in a note. S&P 500 futures and Nasdaq futures both edged up 0.2% on Monday to near record highs. Analysts were unsure what to make of a report in the Financial Times that tech majors Nvidia (NVDA.O), opens new tab and AMD (AMD.O), opens new tab have agreed to give the U.S. government 15% of their revenues from chip sales in China, under an arrangement to obtain export licenses for the semiconductors. EUROSTOXX 50 futures added 0.2%, while FTSE futures rose 0.1% and DAX futures firmed 0.3%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab gained 0.1%, while South Korea (.KS11), opens new tab was flat having bounced 2.9% last week. Chinese blue chips (.CSI300), opens new tab added 0.3% after data showed consumer price inflation ticked up in July, but producer prices kept falling as the country's massive manufacturing sector exported deflation to the rest of the world. Figures on industrial output and retail sales for July are due on Friday, and forecasts are for a slight slowdown after a jump the previous month. Currencies were quiet with markets thinned by Japan's absence, with the dollar index a fraction lower at 98.104 after slipping 0.4% last week. The euro added 0.2% to $1.1666 and further away from a recent trough of $1.1392, while the dollar dipped to 147.53 yen having met resistance around 147.90. The Australian dollar eased to $0.6520 ahead of a meeting of the Reserve Bank of Australia which is widely expected to sanction a rate cut, having stunned markets in July by skipping an easing to await more inflation data. The figures turned out benign, so investors have again fully priced a quarter-point cut to 3.60%. In commodity markets, gold fell 0.6% to $3,378 an ounce after wild swings last week on reports the U.S. would slap 39% tariffs on some gold bars, which are major exports of Switzerland. Gold futures pared gains on Friday when the White House said it planned to issue an executive order clarifying the country's stance on gold bar tariffs. Oil prices slipped amid risks the talks between Trump and Putin could make progress to a ceasefire in Ukraine and possibly an eventual easing of sanctions on Russian oil exports. Brent dropped 0.5% to $66.24 a barrel, while U.S. crude eased 0.6% to $63.48 per barrel.
Reuters
3 days ago
- Business
- Reuters
Shares edge up in Asia, US inflation data looms large
SYDNEY, Aug 11 (Reuters) - Major share indexes crept higher in Asia on Monday as upbeat company earnings underpinned high valuations in the tech sector, while a crucial report on U.S. inflation would likely set the course of the dollar and bonds. Trade and geopolitics also loom large with a U.S. tariff deadline on China due to expire on Tuesday amid expectations it will get extended again, while President Donald Trump and Russian leader Vladimir Putin are due to meet in Alaska on Friday to discuss Ukraine. The main economic release will be U.S. consumer prices on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3% to an annual pace of 3.0% and away from the Federal Reserve target of 2%. An upside surprise would challenge market wagers for a September rate cut, though analysts assume it would have to be a very high number given a downward turn in payrolls is now dominating the outlook. "The tone from the Fed has shifted as a number of officials expressed concerns about growth following the July employment report," said Bruce Kasman, chief economist at JPMorgan. "We now expect the Fed to restart its easing cycle in September," he added. "Recession risks are elevated at 40%, but we do not yet see a case for a larger than 25bp series of cuts." Markets imply around a 90% probability of a September easing, and at least one more cut by year end. Trump's pick for Fed governor, Stephen Miran, may or may not be in place in time to vote for a cut in September, while the choice of a new chair has broadened out to around 10 contenders. The prospect of lower borrowing costs has supported equities, along with a run of strong earnings. Analysts at BofA note 73% of companies had beaten on earnings, well above the 59% long run average, while 78% beat on revenue. "While mentions of 'weak demand' ticked up and tariff concerns remain, corporate sentiment and guidance are improving," they said in a note. S&P 500 futures and Nasdaq futures both edged up 0.1% to near record highs. Analysts were unsure what to make of a report in the Financial Times that tech majors Nvidia (NVDA.O), opens new tab and AMD (AMD.O), opens new tab have agreed to give the U.S. government 15% of their revenues from chip sales in China, under an arrangement to obtain export licenses for the semiconductors. Japan's stock market (.N225), opens new tab was closed for a holiday, but futures stood at 42,290 and well above the cash close of 41,820, suggesting the index could test its all-time high of 42,426 this week. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab was a fraction firmer, while South Korea (.KS11), opens new tab was flat having bounced 2.9% last week. EUROSTOXX 50 futures added 0.2%, while FTSE futures were flat and DAX futures firmed 0.3%. Currencies were quiet with markets thinned by Japan's absence, with the dollar index steady at 98.246 after slipping 0.4% last week. The euro was flat at $1.1644 and comfortably above its recent trough of $1.1392, while the dollar held at 147.66 yen having met resistance around 147.90. The Australian dollar eased to $0.6516 ahead of a meeting of the Reserve Bank of Australia which is widely expected to sanction a rate cut, having stunned markets in July by skipping an easing to await more inflation data. The figures turned out benign, so investors have again fully priced a quarter-point cut to 3.60%. In commodity markets, gold dipped 0.3% to $3,386 an ounce after wild swings last week on reports the U.S. would slap 39% tariffs on some gold bars, which are major exports of Switzerland. Gold futures pared gains on Friday when the White House said it planned plans to issue an executive order clarifying the country's stance on gold bar tariffs. Oil prices slipped amid risks the talks between Trump and Putin could make progress to a ceasefire in Ukraine and possibly an eventual easing of sanctions on Russian oil exports. Brent dropped 0.6% to $66.22 a barrel, while U.S. crude eased 0.7% to $63.44 per barrel.
Yahoo
3 days ago
- Business
- Yahoo
Shares edge up in Asia, US inflation data looms large
By Wayne Cole SYDNEY (Reuters) -Major share indexes crept higher in Asia on Monday as upbeat company earnings underpinned high valuations in the tech sector, while a crucial report on U.S. inflation would likely set the course of the dollar and bonds. Trade and geopolitics also loom large with a U.S. tariff deadline on China due to expire on Tuesday amid expectations it will get extended again, while President Donald Trump and Russian leader Vladimir Putin are due to meet in Alaska on Friday to discuss Ukraine. The main economic release will be U.S. consumer prices on Tuesday, with analysts expecting the impact of tariffs to help nudge the core up 0.3% to an annual pace of 3.0% and away from the Federal Reserve target of 2%. An upside surprise would challenge market wagers for a September rate cut, though analysts assume it would have to be a very high number given a downward turn in payrolls is now dominating the outlook. "The tone from the Fed has shifted as a number of officials expressed concerns about growth following the July employment report," said Bruce Kasman, chief economist at JPMorgan. "We now expect the Fed to restart its easing cycle in September," he added. "Recession risks are elevated at 40%, but we do not yet see a case for a larger than 25bp series of cuts." Markets imply around a 90% probability of a September easing, and at least one more cut by year end. Trump's pick for Fed governor, Stephen Miran, may or may not be in place in time to vote for a cut in September, while the choice of a new chair has broadened out to around 10 contenders. The prospect of lower borrowing costs has supported equities, along with a run of strong earnings. Analysts at BofA note 73% of companies had beaten on earnings, well above the 59% long run average, while 78% beat on revenue. "While mentions of 'weak demand' ticked up and tariff concerns remain, corporate sentiment and guidance are improving," they said in a note. S&P 500 futures and Nasdaq futures both edged up 0.1% to near record highs. Analysts were unsure what to make of a report in the Financial Times that tech majors Nvidia and AMD have agreed to give the U.S. government 15% of their revenues from chip sales in China, under an arrangement to obtain export licenses for the semiconductors. Japan's stock market was closed for a holiday, but futures stood at 42,290 and well above the cash close of 41,820, suggesting the index could test its all-time high of 42,426 this week. MSCI's broadest index of Asia-Pacific shares outside Japan was a fraction firmer, while South Korea was flat having bounced 2.9% last week. EUROSTOXX 50 futures added 0.2%, while FTSE futures were flat and DAX futures firmed 0.3%. Currencies were quiet with markets thinned by Japan's absence, with the dollar index steady at 98.246 after slipping 0.4% last week. The euro was flat at $1.1644 and comfortably above its recent trough of $1.1392, while the dollar held at 147.66 yen having met resistance around 147.90. The Australian dollar eased to $0.6516 ahead of a meeting of the Reserve Bank of Australia which is widely expected to sanction a rate cut, having stunned markets in July by skipping an easing to await more inflation data. The figures turned out benign, so investors have again fully priced a quarter-point cut to 3.60%. In commodity markets, gold dipped 0.3% to $3,386 an ounce after wild swings last week on reports the U.S. would slap 39% tariffs on some gold bars, which are major exports of Switzerland. [GOL/] Gold futures pared gains on Friday when the White House said it planned plans to issue an executive order clarifying the country's stance on gold bar tariffs. Oil prices slipped amid risks the talks between Trump and Putin could make progress to a ceasefire in Ukraine and possibly an eventual easing of sanctions on Russian oil exports. [O/R] Brent dropped 0.6% to $66.22 a barrel, while U.S. crude eased 0.7% to $63.44 per barrel.
Tahawul Tech
04-08-2025
- Business
- Tahawul Tech
Microsoft has become a $4 trillion company
Microsoft became the second company to reach a $4 trillion market valuation, after a recent earnings report helped boost the tech giant's shares. Microsoft's shares (MSFT) jumped nearly 4.5% after the market opened on Thursday 31st July 2025, pushing its intraday valuation to $4.01 trillion. The company's shares have risen roughly 28% since the start of this year. The milestone comes just a year and a half after Microsoft reached a $3 trillion valuation. The company first cracked the $1 trillion mark in April 2019. It follows Nvidia into the $4 trillion valuation club, which hit the mark earlier this month. Microsoft forecast a record $30 billion in capital spending for the current fiscal first quarter to fuel its AI ambitions, and reported booming sales in its Azure cloud computing business on Wednesday. Wall Street analysts also noted that Microsoft's Copilot AI chatbot appears to have driven meaningful growth in its Microsoft 365 enterprise software business. Microsoft's move to $3 trillion was more measured than other tech giants, Nvidia (NVDA) and Apple (AAPL), with AI bellwether Nvidia tripling its value in just about a year and clinching the $4 trillion milestone before any other company on July 9. Apple was last valued at $3.12 trillion. Lately, breakthroughs in trade talks between the US and its trading partners ahead of President Donald Trump's August 1 tariff deadline have buoyed stocks, propelling the S&P 500 and the Nasdaq to record highs. Microsoft, the second largest US company, has rebounded nearly 50% from its April 2025 lows, when global markets were rattled by Trump's tariff offensive. Microsoft's multibillion-dollar bet on OpenAI is proving to be a game-changer, powering its Office Suite and Azure offerings with cutting-edge AI and fuelling the stock to more than double its value since ChatGPT's late-2022 debut. Armed with exclusive access to OpenAI's models, Microsoft has raced to the front of the generative AI pack — supercharging its Azure cloud business, now the company's top revenue driver, and solidifying its dominance in the tech landscape, compared to Google's cloud and Amazon's web services. Wall Street's surging confidence in the company comes on the heels of back-to-back record revenues for the tech giant since September 2022. The stock's rally had also received an extra boost as the tech giant trimmed its workforce and doubled down on AI investments — determined to cement its lead as businesses everywhere race to harness the technology. While sweeping US tariffs had investors bracing for tighter business spending, Microsoft's strong earnings have shown that the company's books are yet to take a hit from the levies. But despite its meteoric rise, Microsoft has been streamlining its workforce in recent months. The company said earlier this month that it would cut around 9,000 employees, approximately 4% of its staff, its largest reduction since 2023. Those layoffs came after the company cut 6,000 workers in May. A company spokesperson said the July cuts were, in part, a reflection of new technologies that have made employees more productive. While AI wasn't mentioned specifically, the cuts came as Silicon Valley giants deploy the technology they're building to make their workers more efficient. Microsoft CEO Satya Nadella said earlier this year that 20% to 30% of the company's code was being generated by AI, and it's is pouring billions into AI infrastructure investments. Source: CNN Image Credit: Microsoft
