MMR

Overseas Trading: Nikkei Closes Best Week in Years; Europe Drops After Nice Attack

Japan had its best week since 2009 on stimulus hopes and strong China data

Jul 15, 2016 at 8:44 AM
facebook X logo linkedin


Stock markets in Asia closed mostly higher to cap off a strong week, thanks in part to positive economic data out of China. This included a 6.7% year-over-year increase for the country's second-quarter gross domestic product (GDP), which edged out expectations. Retail sales, industrial output, and fixed-asset investing also impressed. China's Shanghai Composite, however, finished in the red, down 0.01%.

Japan's Nikkei finished 0.7% higher, marking its best week since 2009, with a 9.2% weekly gain. An outstanding performance for Japan-based Line Corp (NYSE:LN) in its first session helped push the index higher, as did further gains from Nintendo, which continues to storm higher following the release of its "Pokemon Go" app. Elsewhere, Hong Kong's Hang Seng ended the day up 0.5%, and South Korea's Kospi added 0.4%.

European stocks are lower at midday following an attack in Nice, France, that killed at least 84 people when a man drove a truck through a crowd gathered to watch Bastille Day fireworks. Travel stocks are among the worst-performing names as a result, with French President Francois Hollande saying the attack was of terrorist nature. At last check, London's FTSE 100 is off 0.2%, France's CAC 40 is down 0.4%, and Germany's DAX has dropped 0.1%.

overseas stocks july 15

Sign up now for Schaeffer's Market Recap to get all the day's big stock movers, must-know technical  levels, and top economic stories straight to your inbox. 

 

AI has exploded ever since ChatGPT set the world on fire near the end of 2022.

Numerous companies with connections to artificial intelligence have seen their stocks soar.

That includes Nvidia, the poster boy of AI.

Its stock has skyrocketed 716% since ChatGPT’s debut. But here’s the thing …

While everyone’s still counting their money from this first AI boom … Nvidia and countless others have moved on to the next stage.

That includes Big Tech, which is currently making a series of peculiar investments in a few strange companies. This has nothing to do with tech. At least on the surface …

Yet, these strange investments could be the early ripples of a massive wave …Without them, ChatGPT could stop operating … Amazon, Google, Microsoft and more could see profits drop drastically.

In fact, Elon Musk says these investments are critical when it comes to solving the number one problem facing AI.

Now, Silicon Valley legend Michael Robinson has identified two companies that could play a significant role in the solution.

Their stocks just may be the key to AI 2.0.

Find out more about these two companies today.
 (ad)