Latest Finance-Economy News
Asian Shares Mostly Rise After Nvidia Earnings Beat
Asian markets advanced following Nvidia's stronger-than-expected earnings, easing AI boom concerns. Tokyo’s Nikkei 225 hit 59,000 briefly, closing up 0.3% at 58,753.39, while South Korea’s Kospi surged 3.7% to 6,307.27. US futures slipped slightly, with S&P 500 down 0.1%.
Wall Street Forecasts S&P 500 to Crush 30-Year Average Return in 2026
Analysts predict S&P 500 to reach median 7,650 by year-end, implying 10% gain from current 6,940 and full-year return near 12%. Drivers include tax cuts, AI spending, and Fed rate cuts.
Historical forecasts have mixed accuracy, missing by 5% in 2025.
Nikkei 225 Crosses 59,000 Mark for First Time
Japan's Nikkei 225 surged past 59,000 initially, closing up 0.3% at 58,753.39, boosted by AI-focused SoftBank Group shares rising 4%. This reflects ongoing market strength in tech sectors.
South Korea’s Kospi Surges 3.7% to Record High
Kospi climbed to 6,307.27, surpassing 6,000 for the first time, up 46% year-to-date after political stability. Tech stocks drove the gains amid positive regional sentiment.
Bank of Korea Holds Key Rate at 2.50%
BOK decided to maintain rates steady at 2.50% amid tame inflation and steady growth. This contrasts with potential RBA tightening speculation in Australia.
Asian currencies hit 16-month highs against the dollar.
US Stocks Close Higher on Nvidia Surge
S&P 500 rose 0.8% to 6,946.13, Dow up 0.6% to 49,482.15, Nasdaq gained 1.3% to 23,152.08, led by chip stocks. Nvidia's earnings beat fueled the rebound in tech sentiment.
Capital Economics Predicts S&P 500 at 8,000 by 2026 End
Strong profit growth from Nvidia and others supports S&P 500 forecast to 8,000. This exceeds many Wall Street medians amid AI and economic tailwinds.
Crude Oil Prices Edge Up Slightly
US crude gained 5 cents to $65.47 per barrel; Brent rose 8 cents to $70.77. Gold fell 0.7%, silver dropped 3.3% amid mixed commodity trends.
Dollar Weakens Against Yen and Euro
USD fell to 156.09 yen from 156.39; euro rose to $1.1814. Broad dollar underperformance boosted Asian currencies to 16-month highs.
Australian S&P/ASX 200 Adds 0.5%
Australia's index rose 0.5% to 9,175.30 amid speculation of RBA tightening after inflation beat. Aussie dollar neared three-year high against G10 currencies.
Nvidia Forecast Rekindles AI Investment Wagers
Nvidia's revenue outlook failed to fully impress but reignited AI bets in Asia markets. Analysts note sentiment shift rather than fundamental change in AI sector.
Wall Street Eyes 10-12% S&P 500 Upside for 2026
Firms like RBC, Fundstrat forecast S&P 500 to 7,700-7,750, driven by revenue acceleration. Median target implies gains crushing long-term averages.