Posted 2/22/2024, 3:16:00 AM
Nvidia Soars on Blowout $22B Quarter; Asia Stocks Mixed as Fed Debates Rate Cuts
- Nvidia reported better-than-expected quarterly profits of $12.3B on record revenue of $22.1B, driving its stock up over 8% in after-hours trading
- Analysts predict Nvidia's strong earnings could lift Asian markets, with Tokyo stocks moving toward record highs
- Hong Kong stocks fell early while Seoul, Taipei, Bangkok, Manila, and Wellington rose at the open
- Shanghai and Sydney traded flat; London dropped Wednesday on an $3B charge by HSBC related to China
- Federal Reserve minutes showed officials have mixed views on timing of rate cuts but most don't want to move too early