World shares showed a mixed performance on Thursday following a lackluster finish in U.S. stock indexes, with the S&P 500 closing marginally higher. In Europe, Germany's DAX and France's CAC 40 experienced losses, while Britain's FTSE 100 remained nearly unchanged. Futures for the S&P 500 and Dow Jones Industrial Average indicated slight gains.
The U.S. Commerce Department is set to release its final estimate of the fourth-quarter 2024 U.S. economic performance, with growth continuing amid rising uncertainty. Concerns are mounting over potential spending cutbacks by U.S. consumers due to high inflation and economic outlook worries.
In Asian trading, Tokyo's Nikkei 225 rose, while Hong Kong's Hang Seng and South Korea's Kospi declined. Tech shares in Hong Kong faced selling pressure, while the Shanghai Composite index closed higher. Australia's S&P/ASX 500 advanced, but Taiwan and Thailand's SET index saw declines.
On Wednesday, U.S. stock indexes closed mixed, with the S&P 500 edging up slightly after a four-day losing streak. The market has been impacted by weaker economic reports and concerns over inflation and tariffs. Notably, Big Tech and high-growth stocks experienced significant drops.
Super Micro Computer, a stock in the AI technology frenzy, rebounded after filing its annual report, while Nvidia, a key player in the AI industry, reported strong fourth-quarter results. Despite competition from a Chinese upstart, Nvidia's profit and sales surged, signaling ongoing investment in AI by major tech companies.
In early Thursday trading, U.S. benchmark crude oil prices rose, while Brent crude prices fell. The U.S. dollar strengthened against the Japanese yen but weakened against the euro.
