Asian shares mostly declined while U.S. stock indexes saw gains. Market attention shifts to corporate earnings reports from companies like Nvidia, Lowe’s, Target, and Ross Stores. The Federal Reserve’s minutes from its recent meeting are set to be released soon.
On Tuesday, Asian shares mostly declined despite gains in U.S. stock indexes on Monday. Japan’s benchmark Nikkei 225 fell 0.2% to 38,980.60, Australia’s S&P/ASX 200 also lost 0.2% to 7,848.00, and South Korea’s Kospi dropped 0.8% to 2,720.90. Hong Kong’s Hang Seng fell 2.1% to 19,233.87, while the Shanghai Composite decreased 0.4% to 3,157.33.
In contrast, the U.S. stock market saw positive movement, with the S&P 500 rising 0.1% to 5,308.13 and the Nasdaq Composite increasing by 0.7% to 16,794.87, setting a record high. The Dow Jones Industrial Average, however, fell by 0.5% to 39,806.77.
Norwegian Cruise Line’s stock increased by 7.6% after issuing strong financial forecasts. Alongside it, Carnival rose by 7.3%, and Royal Caribbean Group by 4.1%. The rise in stock prices was partly due to hopes that the Federal Reserve might cut interest rates this year.
For the upcoming week, market attention is on corporate earnings reports from companies such as Nvidia, Lowe’s, Target, and Ross Stores. Nvidia’s stock surged 2.5% amidst high expectations for its quarterly results.
In bond markets, the yield on the 10-year Treasury rose to 4.44%, and the two-year yield ticked up to 4.84%. The Federal Reserve’s minutes from its recent meeting will be released on Wednesday.
Oil prices saw slight declines, with U.S. crude at $79.22 per barrel and Brent crude at $83.23 per barrel.
The U.S. dollar strengthened slightly against the Japanese yen to 156.38 yen and the euro rose to $1.0862.
