A look at the day ahead in European and global markets from Tom Westbrook<\/p>\n
Notwithstanding fresh hostilities in the Middle East, \u200cAI shares drove equity markets in Asia to new records on \u200cWednesday. [MKTS\/GLOB]<\/p>\n
AI kingmaker Jensen Huang – the CEO of Nvidia – offered the latest shove higher by anointing \u200bsuperhero-sounding chipmaker Marvell Technology as the next trillion-dollar company, promptly sending its stock price up more than 30%.<\/p>\n
A market cap of $254 billion is a long way from $1 trillion, but that’s a gap that peers have been covering \u200cat a clip. A year \u2060ago Micron and SK Hynix had market values of barely $100 billion. They now top $1 trillion.<\/p>\n
Memory-maker Kioxia also briefly on \u2060Wednesday became Japan’s second-most valuable company behind tech investor SoftBank, pushing longtime No. 1 Toyota into third position.<\/p>\n
In a surprise move ahead of its investor roadshow, \u200bElon \u200bMusk’s SpaceX plans to fix its IPO \u200bprice at $135 per share to \u200craise a record-setting $75 billion, according to a source familiar with the matter.<\/p>\n
Elsewhere in markets, the yen tiptoed into the intervention red zone on Wednesday, touching the 160-per-dollar level that’s viewed as around authorities’ red line.<\/p>\n
Gulf hostilities flared anew, with the U.S. military saying Iranian missile attacks on Bahrain, Kuwait \u200cand other regional targets were either thwarted \u200bor failed, as diplomacy between Washington and \u200bTehran showed little progress.<\/p>\n
Oil prices \u200brose by around $1 a barrel. [O\/R]<\/p>\n
The U.S. services ISM is \u200cdue later in the day, along \u200bwith private payrolls and \u200bthe Federal Reserve’s beige book of economic conditions ahead of U.S. labour data due out on Friday.<\/p>\n
Figures on Tuesday showed job openings \u200bincreased by the most \u200cin five years in April.<\/p>\n
Key developments that could influence markets \u200bon Wednesday:<\/p>\n
– Economics: U.S. services ISM, ADP Payrolls, Fed beige book<\/p>\n
– \u200bIran war developments<\/p>\n
(Editing by Muralikumar Anantharaman)<\/p>\n","protected":false},"excerpt":{"rendered":"A look at the day ahead in European and global markets from Tom Westbrook Notwithstanding fresh hostilities in…\n","protected":false},"author":2,"featured_media":516183,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[261],"tags":[291,289,290,18,4091,223504,19,17,3573,25080,82,223503],"class_list":["post-516182","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-eire","tag-global-markets","tag-hostilities","tag-ie","tag-ireland","tag-jensen-huang","tag-marvell-technology","tag-technology","tag-tom-westbrook"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@ie\/116685208628039896","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/516182","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/comments?post=516182"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/posts\/516182\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media\/516183"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/media?parent=516182"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/categories?post=516182"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/ie\/wp-json\/wp\/v2\/tags?post=516182"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}