US EditionAsian Shares Are Mostly Higher After a Mixed Finish on Wall Street
Target's CEO to step down amid weak sales, while Lowe's profits exceeded expectations and AI stocks showed volatility after recent declines, reflecting mixed market signals, analysts said.
- On Wednesday, Wall Street held steadier after a prior-day swoon for Nvidia and Palantir Technologies, with mixed profit reports from big U.S. retailers helping markets pare losses and finish with only a small dip.
- Analysts noted that trading focused on AI-related stocks, with MIT's Nanda Initiative study warning of limited returns and critics saying valuations rose too fast.
- On Wednesday, Lowe's beat analysts' quarterly profit estimates, boosting shares 3.4%, and agreed to acquire Foundation Building Materials in a deal valued at about $8.8 billion.
- After reporting weaker sales, Target said CEO Brian Cornell plans to step down Feb. 1, with Chief Operating Officer Michael Fiddelke, a 20-year veteran, succeeding him.
- Investors focus on Federal Reserve official Lisa Cook after Trump's Wednesday call for her resignation, as Brent crude rises to $67.10 and the Dow Jones nears last week's all-time high.
72 Articles
72 Articles
Associated Press News
Asian shares are mostly higher after a mixed finish on Wall Street
Asian shares are mostly higher after a mixed finish on Wall Street, where shares in Nvidia, Palantir and other superstar stocks pared their earlier steep losses.On Wall Street on Wednesday, the S&P 500 dipped 0.2% Wednesday after trimming a loss that reached 1.1% earlier in the day.
New bass session for Wall Street due to slides of Nvidia, Palantir and other superstar titles that had recorded a surge in the wake of enthusiasm for the developments of artificial intelligence. Enthusiasm that even some direct protagonist, such as OpenAI's Lad Sam Altman, fear has brought out a real bubble destined to burst. Although no one doubts the fact that the AI is revolutionary and the prospects of growth in the long term are excellent. …
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