Nvidia<\/a>‘s Jensen Huang on Monday unveiled a new chip that puts AI capabilities directly into \u200claptops and desktop computers, which experts say will overhaul how \u2060users engage with AI.<\/p>\nMeantime, shares of South Korea\u2019s Samsung added another 10% on Monday, feeding off a mix of news, from the start of shipments of its new HBM4E chip to expectations surrounding a meeting with Nvidia’s Huang later this week. South Korean shares \u2060rose more than 4%.<\/p>\n
If there was any doubt about how real the global demand for chips is, official data on Monday showed South Korean exports surged by more than 50% year-on-year in May, the fastest annual pace since 1984.<\/p>\n
It was a different picture in China, where factory growth stalled in May, according to the latest official survey, as export demand fell. There \u200bwere \u200balso reports that Washington has moved to halt Nvidia chip shipments to Chinese subsidiaries located outside \u200bof China.<\/p>\n
The ISM\u2019s U.S. manufacturing survey for May is due for \u200crelease later today. That will kick off another big week for macro data, with the U.S. employment report for May due on Friday.<\/p>\n
There\u2019s a slight weariness with the dominant themes among analysts, but June will add other factors to weigh. Central bank meetings this month could deliver interest rate rises, while a critical UK by-election will sharpen focus on a brewing leadership challenge there.<\/p>\n
And there may even be appetite to look at other stock sectors. Even though tech has hogged the attention lately with its blistering stock moves – like Dell\u2019s latest explosive rise last week – the Russell 2000 small-cap index has done at least as well as the SOX chip index so far this \u200cyear.<\/p>\n
Revolution Medicines’ shares surged 20% ahead of Monday’s bell after trials of its pancreatic cancer drug \u200bshowed it doubled the chances of survival from the disease.<\/p>\n
Chart of the day<\/p>\n
South Korea’s exports grew more \u200bthan expected in May at the strongest annual rate in over four \u200bdecades, as a global boom in AI investment drove chip sales to a record, swelling optimism on the trade-reliant economy.<\/p>\n
Exports from Asia’s \u200cfourth-largest economy, a bellwether for global trade, rose 53.2% from a year \u200bearlier to a record high of $87.75 billion, \u200bpreliminary trade data showed on Monday.<\/p>\n
It was the 12th consecutive month of exports growing on a year-on-year basis and the biggest percentage rise since January 1984. The country’s benchmark KOSPI stock index has more than doubled so far this year.<\/p>\n
Today’s events to watch<\/p>\n
* U.S. ISM and S&P Global manufacturing PMIs for \u200bMay (9:45-10 a.m. EDT)<\/p>\n
Want to receive the Morning Bid in your \u200cinbox every weekday morning? Sign up for the newsletter here. You can find ROI on the Reuters website, and you can follow us on \u200bLinkedIn and X.<\/p>\n
Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is \u200bcommitted to integrity, independence, and freedom from bias.<\/p>\n
(By Mike Dolan; Editing by Emelia Sithole-Matarise)<\/p>\n","protected":false},"excerpt":{"rendered":"By Mike Dolan June 1 (Reuters) – What matters in U.S. and global markets today By Mike Dolan,…\n","protected":false},"author":2,"featured_media":477471,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,24524,3158,61,11829,60,14742,233,15504,541,80],"class_list":["post-477470","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-global-demand","tag-global-markets","tag-ie","tag-iran","tag-ireland","tag-jensen-huang","tag-nvidia","tag-president-donald-trump","tag-south-korea","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/477470","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=477470"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/477470\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/477471"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=477470"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=477470"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=477470"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}