Asian markets opened lower after a volatile session on Wall Street. Japan and South Korea saw significant drops. Tech stocks faced pressure from company outlooks and earnings. Trade tensions between the US and China resurfaced. Oil prices jumped on new US sanctions. Retail momentum trades experienced sharp losses. US companies are showing strong earnings this quarter.
US stocks today: S&P 500, Nasdaq end higher, notch weekly gains after earnings-heavy week
The S&P 500 and Nasdaq reached record highs, fueled by strong earnings and falling crude prices, marking their longest weekly gain streak since October 2024.