US Stocks Fall, Taiwan Futures Drop in Night Session; Analysts: Taiwan Market Watching NVIDIA Earnings

(CNA, Taipei, May 17, by reporter Chang Chien-chung) Major US stock indexes closed lower across the board on the 15th, with the Philadelphia Semiconductor Index plunging over 4%. Analysts say that Taiwan's stock index futures fell 487 points in the night session, and the Taiwan stock market may continue its volatile trend on Monday. NVIDIA's earnings report, to be released on May 21, is the market's focus this week. With no resolution in sight for the US-Iran conflict, surging oil prices have heightened market concerns about inflation, leading to a broad decline in major US stock indexes on the 15th. The Dow Jones Industrial Average fell 537.29 points, or 1.07%; the S&P 500 index dropped 92.74 points, or 1.24%; the Nasdaq Composite fell 410.08 points, or 1.54%; and the Philadelphia Semiconductor Index plummeted 485.314 points, or 4.02%. Senior analyst Wang Chao-li stated that the current market sentiment is showing volatility due to caution at high levels after a rapid and significant rally, but the overall outlook remains positive. Wang pointed out that the Taiwan stock market has surged by 10,685 points, or 33.68%, since April. On May 15, the index fluctuated by 1,391 points, hitting a historical high of 42,408.66 points and a low of 41,016.73 points, before closing at 41,751.75. Wang said that strong demand for artificial intelligence (AI) has led to many related companies, such as TSMC, reporting impressive first-quarter financial results, driving strong economic growth. The outlook for the second quarter remains optimistic, which is the main driver of the recent stock market rally. AI chip giant NVIDIA is set to release its earnings report on the 21st. Wang stated that NVIDIA's earnings will be the market's focus this week. With the AI market continuing to boom, investors widely expect NVIDIA to release positive news, pushing its stock to new highs. Wang said that as the corporate earnings season winds down, the positive effects of strong earnings have already been factored in, and investors should be wary of a "sell the news" event leading to a period of consolidation. Additionally, the impending strike by Samsung's union this week and developments in the US-Iran conflict require close monitoring for their potential impact.