Across the Pacific, the Bank of Japan will announce its latest decision on interest rates on Tuesday. It’s been keeping rates below zero in hopes of goosing the economy and inflation. Speculation is rising that wages for Japanese workers are rising enough for the Bank of Japan to finally move rates higher.

Across the Atlantic, the Bank of England will announce its latest decision on rates later in the week.

On Wall Street, Nvidia was 0.5 per cent higher after paring an earlier, bigger gain as it kicked off its annual conference for developers. Analysts say the widespread expectation is for Nvidia to unveil its next generation artificial-intelligence architecture, along with the growing use cases for AI.

Nvidia CEO Jensen Huang will give a keynote address after trading closes for the day on Wall Street, while holding a Q&A with financial analysts on Tuesday.

A frenzy around AI technology on Wall Street has sent the stocks of Nvidia and other players zooming so high that critics call it a bubble. Nvidia has grown into the U.S. stock market’s third-largest stock.

Other Big Tech stocks were also pushing the S&P 500 upward. Apple rose 1.4 per cent, and Alphabet rallied 5 per cent. Tesla jumped 5.9 per cent to trim its loss for the year so far.

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On the losing end of Wall Street was Hertz Global Holdings, which skidded 4.2 per cent to bring its loss for the year so far to 30 per cent. Its chair and CEO, Stephen Scherr, will resign at the end of March. The company named Wayne “Gil” West as its CEO. He’s a former executive at Cruise, the self-driving car company, and at Delta Air Lines.

Trading was mixed on Wall Street, and the smaller stocks in the Russell 2000 index slipped 0.2 per cent.

Boeing sank another 1.2 per cent to bring its loss for the year to 30.8 per cent. It’s been struggling with concerns about its manufacturing quality, and its latest negative headline came on Friday. Workers found a panel missing on an older Boeing 737-800 after it arrived at its destination in southern Oregon from San Francisco.

In the bond market, the yield on the 10-year Treasury rose to 4.34 per cent from 4.31 per cent late Friday.

In stock markets abroad, Japan’s Nikkei 225 jumped 2.7 per cent. Shares of both Nissan Motor and Honda Motor Co.’s shares climbed after the two automakers agreed on a partnership in electric vehicles.

Outside of a 1 per cent jump for stocks in Shanghai, moves were much more modest elsewhere across Asia and Europe.

AP

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