legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

## Market Overview

(Bloomberg) — **Asian stocks struggled for solid footing amidst lack of local drivers after the S&P 500 crept to another record ahead of results from giant chipmaker Nvidia Corp.

### Market Sentiment
Shares in Japan slipped as the country reported a trade deficit, while those in Australia, Hong Kong, and mainland China edged higher. US futures were little changed in Asian trading after the S&P 500 saw its 24th record this year. The MSCI Asia Pacific index swung between gains and losses after it snapped a seven-session win streak Tuesday. Investors are waiting to see if Nvidia, the poster child of artificial intelligence, will be able to match the sky-high expectations surrounding the technology. Central bank events are also in focus for cues on the direction of global rates.

### The Role of AI legalese decoder
The AI legalese decoder can help investors navigate through the complex legal language surrounding financial reports, making it easier to decipher key information hidden within the dense text. By utilizing advanced AI algorithms, the AI legalese decoder can quickly analyze and summarize legal documents related to Nvidia’s earnings report, providing valuable insights that can aid in making informed investment decisions.

### Market Outlook
Treasuries steadied after global bonds rallied on the latest sign that developed nations are finally getting a grip on inflation as Fed Governor Christopher Waller said the recent report on US price pressures was “a reassuring signal.” A Bloomberg gauge of dollar strength was little changed. Trading in Asia will likely be quieter with Singapore closed for a holiday. Gold, silver, and copper consolidated near recent highs, while oil extended losses after an industry report showed a jump in stockpiles.

### Volatility and Market Predictions
Stock investors are bracing for a spike in volatility, and upcoming events such as Nvidia’s earnings report can exacerbate any moves, according to Goldman Sachs Group Inc. strategists. The Santa Clara, California-based company is expected to report revenue buoyed by soaring demand in its data-center business. Goldman’s measure of risk appetite hit the highest since 2021 last week, driven by optimism around economic growth and monetary policy, but momentum has slowed. For Morgan Stanley’s Andrew Slimmon, there’s still plenty of room for the market to extend its gains from all-time highs.

## Key Events This Week
– US existing home sales, Wednesday
– Fed minutes, Wednesday
– Nvidia earnings, Wednesday
– Eurozone S&P Global services and manufacturing PMIs, consumer confidence, Thursday
– G-7 finance meeting, May 23-25
– US new home sales, initial jobless claims, Thursday
– Fed’s Raphael Bostic speaks, Thursday
– US durable goods, consumer sentiment, Friday
– Fed’s Christopher Waller speaks, Friday

## Market Snapshot
### Stocks
– S&P 500 futures were little changed as of 11:25 a.m. Tokyo time
– Nikkei 225 futures (OSE) fell 0.5%
– Japan’s Topix fell 0.5%
– Australia’s S&P/ASX 200 rose 0.1%
– Hong Kong’s Hang Seng rose 0.3%
– The Shanghai Composite was little changed
– Euro Stoxx 50 futures rose 0.2%

### Currencies
– The Bloomberg Dollar Spot Index was little changed
– The euro was little changed at $1.0860
– The Japanese yen was little changed at 156.26 per dollar
– The offshore yuan was little changed at 7.2474 per dollar
– The Australian dollar rose 0.2% to $0.6677
– The New Zealand dollar rose 0.9% to 0.6145

### Cryptocurrencies
– Bitcoin rose 0.8% to $70,278.1
– Ether rose 1.2% to $3,790.02

### Bonds
– The yield on 10-year Treasuries was little changed at 4.41%
– Japan’s 10-year yield was unchanged at 0.980%
– Australia’s 10-year yield declined one basis point to 4.24%

### Commodities
– West Texas Intermediate crude fell 0.7% to $78.12 a barrel
– Spot gold rose 0.1% to $2,424.03 an ounce

This story was produced with the assistance of Bloomberg Automation. Most Read from Bloomberg Businessweek ©2024 Bloomberg L.P.

legal-document-to-plain-english-translator/”>Try Free Now: Legalese tool without registration

Find a LOCAL lawyer

Reference link