{"id":14822,"date":"2024-08-29T07:49:53","date_gmt":"2024-08-29T07:49:53","guid":{"rendered":"https:\/\/www.vtmarkets.com\/?p=14822"},"modified":"2024-08-29T07:49:53","modified_gmt":"2024-08-29T07:49:53","slug":"asian-shares-fall-as-nvidias-earnings-disappoint-investors-focus-on-u-s-jobless-claims","status":"publish","type":"post","link":"https:\/\/www.global-vtrader.com\/en\/analysis\/asian-shares-fall-as-nvidias-earnings-disappoint-investors-focus-on-u-s-jobless-claims\/","title":{"rendered":"Asian shares fall as Nvidia&#8217;s earnings disappoint; investors focus on U.S. jobless claims"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\"><strong>Key points:<\/strong><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Asian shares followed Wall Street futures lower, with Nvidia&#8217;s stock dropping 7.6% after earnings missed bullish expectations.<\/li>\n\n\n\n<li>Investors are closely watching U.S. jobless claims and inflation data for potential shifts in Fed policy.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">Asian shares declined on Thursday, tracking Wall Street futures lower, as Nvidia&#8217;s earnings report did not meet the lofty expectations of bullish investors. Although Nvidia&#8217;s third-quarter revenue forecast of $32.5 billion exceeded Wall Street estimates, it fell short of the high bar set by those who had fuelled a 180% rally in its shares this year. This led to a 7.6% drop in Nvidia&#8217;s stock during after-hours trading, erasing around $236 billion from its market value.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXceKzvJiwQZ0xIcaKbo7NIWQG2EN2wNf3Spd2Ky_EfIT7W50E22yFjWuDGAWtImTQfw3XPIHYoRyC1IVJglJMkUvgl53wdqIEKlG4vUp2jPpRg71H_9nuQ5Hm6iPkeRu2OQWsmUoGi6n0zikGpuDkHhoN-a?key=NWMMRd0bxNKql_7Wr3s8vQ\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">See: Nvidia sees a decline, trading at 126.33 on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/p>\n\n\n\n<h1 class=\"wp-block-heading has-medium-font-size\"><strong>Tech-heavy indices lead Asian market declines amid Nvidia-driven selloff<\/strong><\/h1>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh7-rt.googleusercontent.com\/docsz\/AD_4nXfsEQ_CaF-iRBYDQi6YE8r5kmQvbn9dEQzMW-vPGUCbpuvBWmWztIJRe5PdpoMX8UXXa3JjZc6BB-AtqSvdvIuC3sTRf_qmcatzvqx02T5p095j3iHGlA4mJqiN2V3AvKgY7cO33bpJoIu1F4qooiEPn4u2?key=NWMMRd0bxNKql_7Wr3s8vQ\" alt=\"\" \/><\/figure>\n\n\n\n<p class=\"has-text-align-center wp-block-paragraph\">Picture: Japan\u2019s Nikkei trading at 38478.85 as seen on the <a href=\"https:\/\/vtmarketsapp.onelink.me\/CD7D\/240525WA\">VT Markets app<\/a>.<\/p>\n\n\n\n<p class=\"has-text-align-left wp-block-paragraph\">This negative sentiment spread across Asian markets, particularly affecting tech-heavy indices. The MSCI index of Asia-Pacific shares outside Japan fell by 0.6%, with South Korea&#8217;s KOSPI dropping 0.7% and Japan&#8217;s Nikkei easing by 0.4%. Taiwan&#8217;s TSMC, a key chip contractor for <a href=\"https:\/\/x.com\/technology\/status\/1828900894047437177\">Nvidia, saw its shares decline by 2.4%<\/a>, contributing to a 1.3% drop in the broader Taiwanese market.<\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\"><div class=\"wp-block-embed__wrapper\">\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\"><p lang=\"en\" dir=\"ltr\">Nvidia, the chipmaker at the heart of the artificial intelligence boom, gave a revenue forecast that fell short of some of the most optimistic estimates, stoking concerns that its explosive growth is waning. <a href=\"https:\/\/t.co\/8Qv6710X16\">https:\/\/t.co\/8Qv6710X16<\/a><\/p>&mdash; Bloomberg Technology (@technology) <a href=\"https:\/\/twitter.com\/technology\/status\/1828900894047437177?ref_src=twsrc%5Etfw\">August 28, 2024<\/a><\/blockquote><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>\n<\/div><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">In China, the economic outlook remained cautious as markets faced additional pressure from weaker-than-expected earnings reports. The blue-chip index declined for the fourth consecutive day, down 0.4%, as ongoing concerns about the country&#8217;s economic recovery weighed on sentiment. UBS&#8217;s recent downgrade of China&#8217;s 2024 GDP growth forecast from 4.9% to 4.6% added to the subdued market atmosphere. Chinese battery maker CATL saw its shares fall 2% after U.S. lawmakers proposed adding the company to a restricted list due to alleged ties with Beijing&#8217;s military.<\/p>\n\n\n\n<h2 class=\"wp-block-heading has-medium-font-size\"><strong>U.S. dollar steadies as Fed rate cut expectations rise; treasury yields mixed<\/strong><\/h2>\n\n\n\n<p class=\"wp-block-paragraph\">In the currency and bond markets, the U.S. dollar steadied after reaching its lowest point in over a year, supported by growing expectations of a Federal Reserve rate cut. Futures markets have priced in a quarter-point rate cut next month, with a 35% probability of a half-point easing. Treasury yields remained mixed, with the two-year and 10-year yield curve nearing a positive inversion\u2014a condition not observed since July 2022, except for a brief period earlier this month.<\/p>\n\n\n\n<h3 class=\"wp-block-heading has-medium-font-size\"><strong>Gold nears record high as oil prices recover slightly<\/strong><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.vtmarkets.com\/analysis\/gold-prices-rise-as-fed-signals-rate-cut-in-september\/\">Gold prices continued to rise<\/a>, gaining 0.4% to $2,512.89 an ounce, close to their all-time high of $2,531.6. Oil prices also saw a slight recovery after two consecutive sessions of declines, with Brent crude futures inching up 0.1% to $78.75 a barrel and U.S. West Texas Intermediate crude futures up 0.2% to $74.69.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As the trading day progresses, investors will be closely monitoring U.S. weekly jobless claims and inflation data from Germany and Spain. These indicators could provide further insight into the Federal Reserve&#8217;s next steps regarding interest rates, potentially setting the tone for global markets in the weeks ahead.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Start trading now \u2014 click <\/strong><a href=\"https:\/\/www.vtmarkets.com\/trade-now\/?utm_campaign=account_c&amp;utm_source=dma&amp;utm_medium=website\"><strong>here<\/strong><\/a><strong> to create your live VT Markets account.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key points: Asian shares declined on Thursday, tracking Wall Street futures lower, as Nvidia&#8217;s earnings report did not meet the lofty expectations of bullish investors. Although Nvidia&#8217;s third-quarter revenue forecast of $32.5 billion exceeded Wall Street estimates, it fell short of the high bar set by those who had fuelled a 180% rally in its<a href=\"https:\/\/www.global-vtrader.com\/en\/analysis\/asian-shares-fall-as-nvidias-earnings-disappoint-investors-focus-on-u-s-jobless-claims\/\" class=\"read-more\">Continue Reading<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[27],"tags":[7,33],"class_list":["post-14822","post","type-post","status-publish","format-standard","hentry","category-analysis","tag-gold","tag-stocks"],"acf":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/14822","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/comments?post=14822"}],"version-history":[{"count":0,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/posts\/14822\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/media?parent=14822"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/categories?post=14822"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.global-vtrader.com\/en\/wp-json\/wp\/v2\/tags?post=14822"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}