Hong Kong, China, July 23, 2023, the cityscape of high-rise buildings at dusk seen from the Victoria Peak in Hong Kong.
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Asia-Pacific markets opened mixed on Tuesday and Wall Street was mixed as investors focused on the U.S. Federal Reserve’s decision.
Australia’s S&P/ASX 200 index rose 0.14%.
Japan’s Nikkei 225 Index futures opened strongly, with the Chicago futures contract at 39,745 points and the Osaka Nikkei 225 Index futures contract at 39,640 points, compared with the previous closing price of 39,457.49 points.
Hong Kong Hang Seng Index futures were at 19,755 points, lower than the Hang Seng Index’s last closing point of 19,795.49 points.
Overnight, the Nasdaq hit a record high, driven by gains in technology stocks. The technology index rose 1.24% to 20,173.89 points; the S&P 500 index rose 0.38% to close at 6,074.08 points. The Dow Jones Industrial Average performed poorly, falling 110.58 points, or 0.25%, to close at 43,717.48 points. The 30 stocks in the Dow Jones Industrial Average fell for an eighth consecutive day, marking the longest losing streak since 2018.
The Federal Reserve’s decision on December 18th in the United States will also become the most concerning issue for investors. The CME Fedwatch tool currently predicts that the probability of a 25 basis point interest rate cut is 98.2%.
Bucking the overall upward trend, market darlings NVIDIAShares of the artificial intelligence chip maker, which has driven gains over the past two years, fell 1.7%. The decline pushed the stock into retracement territory, down more than 10% from its recent all-time high in November.
—CNBC’s Brian Evans and Jesse Pound contributed to this report.
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