Author: Daniel Chang

Nvidia’s fiscal third-quarter results surpassed Wall Street predictions, but its outlook for the upcoming quarter fell short of the high expectations fueled by surging AI demand. Following the announcement, Nvidia’s shares (NASDAQ: NVDA) dropped over 2% in after-hours trading. The company reported Q3 earnings per share (EPS) of $0.81 and revenue of $35.1 billion, outperforming analyst forecasts of $0.75 EPS and $33.09 billion in revenue, according to data from Investing.com. Key highlights included Nvidia’s data center revenue, which reached $30.8 billion, marking a 17% increase from the previous quarter and a staggering 112% year over year growth. Analysts had projected…

Wells Fargo Investment Institute has increased its year-end 2025 target for the S&P 500 index to a range of 6,500–6,700. This new target is higher than the previous range of 6,200–6,400 and reflects expectations for stronger economic growth and favorable policy changes. The bank has also raised its forecast for earnings per share (EPS) for the index to $275, up from $270. This adjustment comes as Wells Fargo updates its outlook for the U.S. economy in 2025, now predicting GDP growth of 2.5%, compared to its earlier estimate of 2.3%. The revised forecast is based on higher consumer confidence driven…

Asian currencies weakened on Thursday, while the U.S. dollar remained close to a one-year high amid growing uncertainty about a potential interest rate cut by the Federal Reserve in December. The dollar’s strength has been supported by persistent inflation in October, signals of economic resilience from the Federal Reserve, and expectations of inflationary policies under a Donald Trump presidency. In Asia, market sentiment was further dampened by doubts over additional stimulus measures in China and rising geopolitical tensions between Russia and Ukraine. The dollar index held steady during Asian trading after strong gains the previous day. Traders have significantly reduced…

The US inflation rate saw a slight uptick in October, according to data from the Labor Department, which is expected to be closely reviewed by the Federal Reserve ahead of its policy meeting next month. The Consumer Price Index (CPI), a key measure of inflation in the US economy, increased by 2.6% over the past year as of October, compared to a 2.4% rise in September. On a monthly basis, the CPI rose by 0.2%, mirroring the pace observed in September. The “core” inflation rate, which excludes the more volatile categories of food and energy, went up by 3.3% year…

UBS has updated its forecast for the USD/JPY exchange rate, signaling potential fluctuations over the next year. The bank now anticipates the currency pair reaching 155 by December 2024, then 152 in March 2025, followed by 150 in June, and 147 by September. By the close of 2025, UBS expects USD/JPY to reach 145, revising its previous projections of 147, 143, 140, and 138 for the same period. UBS noted that a short-term surge to 158-160 could occur if U.S. 10-year yields increase by another 30-40 basis points, potentially reaching around 4.8%. Based on a three-year sensitivity analysis, UBS found…

Asian currencies remained relatively unchanged on Wednesday, while the U.S. dollar hovered near recent highs as attention shifted to upcoming U.S. inflation data for indications on potential interest rate movements. The dollar strengthened significantly over the past week, with most Asian currencies losing ground following Donald Trump’s victory in the 2024 U.S. presidential election. Uncertainty around the impact of a second Trump term on Asia’s economy continues to weigh on the markets. Traders are also eyeing potential economic support measures from China after recent fiscal policies fell short of expectations. Dollar Holds Near 4-Month High as Inflation Data and Fed…

The S&P 500 slipped on Thursday after Federal Reserve Chair Jerome Powell indicated that the central bank might take a cautious approach to future rate cuts, citing ongoing economic strength as a reason not to rush policy easing. As of 4:00 p.m. ET (21:00 GMT), the Dow Jones Industrial Average dropped by 207 points, or 0.5%, the S&P 500 fell 0.6%, and the NASDAQ Composite also declined 0.6%. Powell Highlights Cautious Path for Rate Cuts In his speech on Thursday, Powell noted that the current economic environment does not warrant an urgent reduction in rates, allowing the Fed to proceed…

The British pound is on track for its largest weekly loss since January, weighed down by disappointing UK economic data and the rising strength of the US dollar, which has been bolstered by investor confidence in U.S. economic policies. Economic reports released on Friday revealed that the UK economy unexpectedly shrank in September, with growth slowing significantly during the third quarter. The pound remained steady at $1.26795 on Friday, hovering near its lowest level since May. Over the week, it experienced a 2% decline, marking its worst weekly performance in nearly a year. The strengthening dollar is largely attributed to…

The Philippine central bank has officially launched an interest rate swaps (IRS) market tied to a newly established benchmark rate, the Overnight Reference Rate (ORR), aiming to boost liquidity and improve trading in the country’s bond market. This development follows the recognition of the ORR by the International Swaps and Derivatives Association, which was created in collaboration with the Bankers Association of the Philippines. Interest rate swaps, a common tool in advanced fixed-income markets, enable participants to manage interest rate risks or speculate on borrowing cost trends by exchanging fixed and floating interest rate payments. The ORR, derived from the…

The U.S. dollar climbed to its highest point in four months on Wednesday after Donald Trump secured victory in the U.S. presidential election. This win has fueled expectations that his proposed policies on immigration, taxes, and trade could accelerate economic growth and inflation in the United States. Trump defeated Democratic candidate Kamala Harris to regain the presidency, with Republicans also winning a majority in the Senate. Control of the House of Representatives remains uncertain, but Republicans currently hold the lead. With a full Republican majority, the party may be positioned to enact significant legislative changes, potentially leading to more pronounced…