Asian shares were mostly higher on Friday in quiet holiday trading, with markets closed in several countries for Good Friday and other holidays. The Nikkei 225 in Tokyo rose 0.4%, the Kospi in Seoul edged 0.1% higher, and the Shanghai Composite index gained 0.5%. Oil prices also saw a jump, with U.S. benchmark crude oil gaining $1.82 to $83.17 per barrel.
In the U.S., the S&P 500 set a new all-time high and closed at 5,254.35, gaining 10.2% in the first quarter. The Dow Jones Industrial Average also set a record, ticking up 0.1% to 39,807.37. The Nasdaq composite dipped slightly to 16,379.46.
The U.S. stock market has been on a strong run, with the S&P 500 capping its fifth straight winning month. Companies in the artificial intelligence technology sector saw significant gains, with Nvidia surging 82.5% and Super Micro Computer soaring 255.3%.
However, not all stocks performed well, with Tesla falling 29.3% and Boeing sinking 26% during the quarter. Despite some stumbles, the U.S. economy showed strong growth in the final quarter of last year, with fewer workers applying for unemployment benefits last week.
Investors are hopeful that the Federal Reserve will begin cutting interest rates later this year to ease pressure on the economy. However, concerns about inflation and stock valuations remain, with critics warning that stock prices may have outpaced corporate profits.
On Wall Street, RH saw a 17.3% jump in its stock price despite reporting weaker profit and revenue than expected. Chemours fell 9.1% despite better-than-expected results for the latest quarter. Trump Media & Technology Group, the company behind Truth Social, fell 6.4% after a recent surge in its stock price.
Overall, investors are keeping a close eye on market trends and economic indicators as they navigate the uncertainties of the global economy.
