- Hawaii wildfire tragedy was 'years in the making,' probe says
- Trump sharpens anti-migrant attacks as both candidates visit key states
- Biden, Starmer put off Ukraine missiles decision
- Fujimori 'never asked forgiveness': families of Peru massacre victims
- France's Garcia into Guadalajara semis as Bouzkova withdraws
- Former world No. 1 Osaka announces split with coach
- Pope says Trump, Harris 'against life' as Asia tour ends
- Celebrated ballerina Michaela DePrince dead at 29
- Europe searches for answers after early Solheim Cup drubbing
- Global stocks mostly rise as markets eye likely Fed rate cut
- Alcaraz gives Spain Davis delight as Australia, United States and Germany also qualify
- Biden, Starmer discuss Ukraine missiles as Russia tensions mount
- Brazil judge seizes $3 million from Musk to pay X fines
- No.1 Korda leads USA to 6-2 edge over Europe at Solheim Cup
- Tesla truck fire took 190,000 liters of water to extinguish
- Duplantis basks in 'best-ever' season, not rushing for more exhibitions
- Pope says anti-immigrant Trump and abortion-rights advocate Harris 'against life'
- Livingstone levels T20 series for England against Australia
- Boeing 'ran out of time' on Starliner: astronaut stuck on ISS
- Adeyemi stars as Dortmund beat Heidenheim
- UN official says Sudan IDP women in desperate need of protection
- Unbeaten Duplantis reigns supreme, Alfred dominates Richardson
- Messi set to return after two-month lay off
- Ohio town's schools evacuated amid Trump anti-immigrant drive
- Alfred scorches past Richardson to Diamond League 100m finals win
- Golf superstar Woods undergoes new back surgery
- Australia smash England for 193 in 2nd T20
- Harris, Trump campaign in battlegrounds as migrant row intensifies
- Rare death of UN worker as Israel pursues West Bank operation
- Paulino wins Diamond League 400m, McLaughlin-Levrone coasts in invitational race
- Tagovailoa urged to retire after latest concussion
- Venezuela warns Spain against 'interference' in its affairs
- Pope returns home after epic Asia-Pacific tour
- Justin Timberlake given community service in drunk driving case
- Toronto festival drops Russian war film screenings over threats
- Foreigners among dozens sentenced to death in DR Congo 'coup' trial
- Biden, Starmer meet as Russia warns over missiles for Ukraine
- Title-chasing Norris and McLaren 'a long way' off the pace in Baku
- Strike at Argentina's flagship airline hits 30,000 passengers
- Transport woes leave Solheim Cup fans absent at the start
- Pope returns home after epic four-nation Asia-Pacific tour
- 'Tell everyone I'm home': Ukrainian prisoners rejoice at rare swap
- Justin Timberlake given community service in drunk driving case: US media
- Germany joins pushback to EU anti-deforestation law
- Ohio town's schools evacuated amid Trump anti-immigrant drive: reports
- Pochettino sets USA target of winning the World Cup
- US moves to curb 'trade loophole' over China worries
- Raided West Bank city holds funerals after Israeli army withdraws
- US women seize early 3-1 lead over Europe at Solheim Cup
- Sinaloa cartel co-founder 'El Mayo' pleads not guilty in NY court
Asian markets slip as traders await US data, Nvidia release
Equity investors stepped cautiously Wednesday ahead of key US data and the release of earnings by tech titan Nvidia that could shine a light on demand for all things artificial intelligence after this year's tech-led markets rally.
While a Federal Reserve interest rate cut next month is baked into prices, traders are also keenly awaiting next week's crucial non-farm payrolls figures, which are seen as key to determining how big the central bank goes.
Traders remain largely upbeat, with August's early rout -- sparked by US recession fears and a Bank of Japan rate cut -- in the rearview mirror and some markets within a whisker of records touched this year thanks to the tech-fuelled rally.
On Tuesday, the US Conference Board’s consumer confidence survey for August beat expectations and came in at its highest level since February.
The news had minimal impact on markets, with all three main indexes on Wall Street ending only slightly higher.
But Ray Attrill, of National Australia Bank, said: "The rebound in stock markets after the July crunch, lower gasoline prices and the heightened prospect of near-term interest rate cuts (reflected in lower mortgage rates) look to have overwhelmed the impact on confidence of softening labour market indicators."
Now attention turns to the release of a series of US indicators, including gross domestic product growth, the Fed's favoured gauge of inflation, jobless claims and personal income, which will provide fresh insight into the state of the world's top economy.
But the headliner is the earnings report from Nvidia, which is due for release after the US market closes.
The company has soared around 16 percent this year -- and about 1,000 percent from its low in October 2022 -- on the back of a global race to jump on the AI bandwagon.
Nvidia has seen profits soar thanks to demand for its powerful GPU chips, which have set the industry's pace in pushing new advances in AI, pushing its stock up about 160 percent this year.
That has made it a key indicator for the sector, but analysts warned that if it fails to deliver on its earnings, or just doesn't top forecasts, it could spark a sell-off in the sector.
"This is the one that could either lift all boats or sink the entire fleet," said analyst Stephen Innes in his Dark Side Of The Boom newsletter.
"With Nvidia holding a hefty seven percent of the market cap weight, directional bets were scarce -- no one wants to go all-in when the 800-pound gorilla is about to shake the room.
"Nvidia's influence is undeniable, making it nearly impossible to take your eyes off it."
After Wall Street's tepid performance, there was little buying inspiration among Asian traders.
Hong Kong, Tokyo, Shanghai, Sydney, Singapore, Seoul, Taipei, Wellington and Jakarta all dropped.
Oil prices edged higher after big swings Monday and Tuesday as dealers kept tabs on developments in the Middle East crisis and Libya, where the eastern-based administration said it would close fields under its control and suspend production and exports "until further notice".
- Key figures around 0230 GMT -
Tokyo - Nikkei 225: DOWN 0.2 percent at 38,199.52 (break)
Hong Kong - Hang Seng Index: DOWN 1.0 percent at 17,696.30
Shanghai - Composite: DOWN 0.2 percent at 2,843.77
Dollar/yen: UP at 144.33 yen from 143.96 yen on Tuesday
Euro/dollar: DOWN at $1.1173 from $1.1185
Pound/dollar: DOWN at $1.3250 from $1.3261
Euro/pound: DOWN at 84.32 pence from 84.34 pence
West Texas Intermediate: UP 0.5 percent at $75.91 per barrel
Brent North Sea Crude: UP 0.5 percent at $79.97 per barrel
New York - Dow: FLAT at 41,250.50 (close)
London - FTSE 100: UP 0.2 percent at 8,345.46 (close)
T.Bondarenko--BTB