Traders Keep a Close Eye on Nvidia Earnings as Stock Futures Dip Post-Dow Record Close: Live Updates

Asian markets had a strong day on Monday, with China’s stock market leading the way. Investors are optimistic after U.S. Federal Reserve Chair Jerome Powell hinted at possible interest rate cuts in his recent speech.

Mainland China’s CSI 300 index rose by 2.08%, reaching 4,469.22 points. This marks the fourth consecutive day of gains for the index, hitting a high not seen in 37 months. In Hong Kong, the Hang Seng Index also performed well, climbing 1.94% to 25,829.91 points, nearing a four-year high. Key players in this surge included Zijin Mining Group, which saw a 6.38% increase, and NetEase, with a rise of 6.04%.

The tech sector was a major contributor to these gains. Notably, the Hang Seng Tech index surged by 3.14%, boosted by Nio’s impressive 15.17% rise and semiconductor manufacturer ASMPT, which saw a 7.6% gain.

Meanwhile, Taiwan’s Taiex index rose by 2.16%. South Korea’s Kospi increased by 1.3%, and the smaller Kosdaq went up by 1.98%. In Japan, the Nikkei 225 saw a slight bump of 0.41%, while the broader Topix index added 0.15%. Australia’s S&P/ASX 200 remained stable, closing flat at 8,972.40 after briefly exceeding 9,000. In India, indices also moved higher, with the Nifty 50 up by 0.53% and BSE Sensex up by 0.51%.

Switching gears to the cryptocurrency world, Ether reached a remarkable new high over the weekend, peaking at $4,954.81. This rise reflects growing enthusiasm, as it’s the first time Ether has hit this mark since 2021. In contrast, Bitcoin struggled, erasing all the gains from its previous rally and dropping to around $110,779.01, its lowest point since July.

In the financial community, analysts remain cautious. Ed Yardeni, a Wall Street strategist, maintained his target for the S&P 500 at 6,600 by the end of 2025, despite the recent excitement about potential Fed rate cuts. He warned that upcoming economic indicators could sway the Fed’s decisions, potentially delaying any easing policies. Yardeni believes the market is transitioning to an earnings-led environment.

These shifts serve as a reminder of the delicate balance in today’s markets. As investors navigate the uncertainty, both stock and cryptocurrency markets seem poised for further developments. Keeping an eye on these trends can help understand the broader economic landscape.

For ongoing updates and in-depth insights into market conditions, check out trusted financial sources like MarketWatch and Bloomberg.

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