AI Market Turbulence: DeepSeek's Innovation Sparks Tech Stock Volatility

Stock market today: Asian stocks advance ahead of the Fed's rate decision as panic over AI fades

HONG KONG (AP) -- Asian stocks advanced Wednesday in thin Lunar New Year trading following a rebound on Wall Street driven by tech stocks as the panic over Chinese AI company DeepSeek faded. Most markets in Asia were closed for holidays. Investors were focusing on the Federal Reserve's rate decision due later in the day. U.S. futures were flat and oil prices fell. In Tokyo, the Nikkei 225 index recovered from Tuesday's losses, gaining 0.7% to 39,273.49. Australia's S&P/ASX 200 rose 0.7% to 8,455.70 after data from the Australian Bureau of Statistics showed the Consumer Price Index increased by 0.2% in the December 2024 quarter, marking the smallest rise since the June 2020 quarter, when inflation declined during the COVID-19 outbreak. India's Sensex was up 0.5%, while the SET in Bangkok shed 0.2%. On Tuesday, tech stocks bounced back after tumbling Monday on doubts over whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 climbed 0.9% to 6,067.70, clawing back more than half of its earlier drop. The Dow Jones Industrial Average added 0.3% to 44,850.35, and the Nasdaq composite rallied 2% to 19,733.59 after sliding 3.1 % the day before. The spotlight remained on Nvidia, whose chips are powering much of the move into AI and whose stock has become a symbol of the surrounding frenzy. It rose 8.8% after plunging nearly 17% on Monday, which was its worst drop since the 2020 COVID crash. Other AI-related companies also held steadier, including chip company Broadcom, which rose 2.6%. Constellation Energy picked up 1.4% after plummeting nearly 21% on Monday. It had earlier rallied on expectations it will help supply the electricity that vast AI data centers would gobble up. Such revenues are threatened after DeepSeek, a Chinese company, said it was able to develop a large language model that can perform as well as big U.S. rivals but at a fraction of the cost. That raises questions about whether all the spending expected for AI chips and electricity will need to happen. AI-related stocks have been Wall Street's biggest stars in recent years, soaring on expectations that big spending will only continue to grow. The gains, though, also created criticism that the stock prices had simply gone too high, too fast. It's still uncertain how much DeepSeek's development will upend the AI industry. While it could mean less growth in spending than expected for data centers, electricity and chips, it could also boost other areas. "If AI becomes less expensive to use, we think businesses will adopt it more quickly, making a greater investment in AI software," according to James Egelhof, chief U.S. economist at BNP Paribas. "We think this acceleration in adoption could mean a rise in software investment that offsets - or even dwarfs - any deceleration in spending on data center structures, hardware and related investment." Some of Wall Street's most influential companies, including Apple, Meta Platforms, Microsoft and Tesla, will release profit reports later this week. A report showing confidence among U.S. consumers wasn't as strong as economists expected made relatively small waves in the bond market. The more anticipated event will come on Wednesday, when the Federal Reserve will announce its latest decision on interest rates. The widespread expectation is that it will leave the federal funds rate alone. If that proves true, it would be the first meeting where the Fed did not cut rates to give the economy a boost since it began doing so in September. In other dealings Wednesday, benchmark U.S. crude shed 14 cents to $73.63 a barrel. Brent crude, the international standard, lost 18 cents to $76.31 a barrel. In currency trading, the U.S. dollar fell to 155.09 Japanese yen from 155.53 yen. The euro cost $1.0438, down from $1.0432.

Stock market today: Asian stocks advance ahead of the Fed's rate decision as panic over AI fades

HONG KONG -- Asian stocks advanced Wednesday in thin Lunar New Year trading following a rebound on Wall Street driven by tech stocks as the panic over Chinese AI company DeepSeek faded. Most markets in Asia were closed for holidays. Investors were focusing on the Federal Reserve's rate decision due later in the day. U.S. futures were flat and oil prices fell. In Tokyo, the Nikkei 225 index recovered from Tuesday's losses, gaining 0.7% to 39,273.49. Australia's S&P/ASX 200 rose 0.7% to 8,455.70 after data from the Australian Bureau of Statistics showed the Consumer Price Index increased by 0.2% in the December 2024 quarter, marking the smallest rise since the June 2020 quarter, when inflation declined during the COVID-19 outbreak. India's Sensex was up 0.5%, while the SET in Bangkok shed 0.2%. On Tuesday, tech stocks bounced back after tumbling Monday on doubts over whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 climbed 0.9% to 6,067.70, clawing back more than half of its earlier drop. The Dow Jones Industrial Average added 0.3% to 44,850.35, and the Nasdaq composite rallied 2% to 19,733.59 after sliding 3.1 % the day before. The spotlight remained on Nvidia, whose chips are powering much of the move into AI and whose stock has become a symbol of the surrounding frenzy. It rose 8.8% after plunging nearly 17% on Monday, which was its worst drop since the 2020 COVID crash. Other AI-related companies also held steadier, including chip company Broadcom, which rose 2.6%. Constellation Energy picked up 1.4% after plummeting nearly 21% on Monday. It had earlier rallied on expectations it will help supply the electricity that vast AI data centers would gobble up. Such revenues are threatened after DeepSeek, a Chinese company, said it was able to develop a large language model that can perform as well as big U.S. rivals but at a fraction of the cost. That raises questions about whether all the spending expected for AI chips and electricity will need to happen. AI-related stocks have been Wall Street's biggest stars in recent years, soaring on expectations that big spending will only continue to grow. The gains, though, also created criticism that the stock prices had simply gone too high, too fast. It's still uncertain how much DeepSeek's development will upend the AI industry. While it could mean less growth in spending than expected for data centers, electricity and chips, it could also boost other areas. "If AI becomes less expensive to use, we think businesses will adopt it more quickly, making a greater investment in AI software," according to James Egelhof, chief U.S. economist at BNP Paribas. "We think this acceleration in adoption could mean a rise in software investment that offsets - or even dwarfs - any deceleration in spending on data center structures, hardware and related investment." Some of Wall Street's most influential companies, including Apple, Meta Platforms, Microsoft and Tesla, will release profit reports later this week. A report showing confidence among U.S. consumers wasn't as strong as economists expected made relatively small waves in the bond market. The more anticipated event will come on Wednesday, when the Federal Reserve will announce its latest decision on interest rates. The widespread expectation is that it will leave the federal funds rate alone. If that proves true, it would be the first meeting where the Fed did not cut rates to give the economy a boost since it began doing so in September. In other dealings Wednesday, benchmark U.S. crude shed 14 cents to $73.63 a barrel. Brent crude, the international standard, lost 18 cents to $76.31 a barrel. In currency trading, the U.S. dollar fell to 155.09 Japanese yen from 155.53 yen. The euro cost $1.0438, down from $1.0432.

Stock Market Today: Asian Stocks Advance Ahead of the Fed's Rate Decision as Panic Over AI Fades

HONG KONG (AP) -- Asian stocks advanced Wednesday in thin Lunar New Year trading following a rebound on Wall Street driven by tech stocks as the panic over Chinese AI company DeepSeek faded. Most markets in Asia were closed for holidays. Investors were focusing on the Federal Reserve's rate decision due later in the day. U.S. futures were flat and oil prices fell. In Tokyo, the Nikkei 225 index recovered from Tuesday's losses, gaining 0.7% to 39,273.49. Australia's S&P/ASX 200 rose 0.7% to 8,455.70 after data from the Australian Bureau of Statistics showed the Consumer Price Index increased by 0.2% in the December 2024 quarter, marking the smallest rise since the June 2020 quarter, when inflation declined during the COVID-19 outbreak. India's Sensex was up 0.5%, while the SET in Bangkok shed 0.2%. On Tuesday, tech stocks bounced back after tumbling Monday on doubts over whether the artificial-intelligence frenzy really needs all the dollars being poured into it. The S&P 500 climbed 0.9% to 6,067.70, clawing back more than half of its earlier drop. The Dow Jones Industrial Average added 0.3% to 44,850.35, and the Nasdaq composite rallied 2% to 19,733.59 after sliding 3.1 % the day before. The spotlight remained on Nvidia, whose chips are powering much of the move into AI and whose stock has become a symbol of the surrounding frenzy. It rose 8.8% after plunging nearly 17% on Monday, which was its worst drop since the 2020 COVID crash. Other AI-related companies also held steadier, including chip company Broadcom, which rose 2.6%. Constellation Energy picked up 1.4% after plummeting nearly 21% on Monday. It had earlier rallied on expectations it will help supply the electricity that vast AI data centers would gobble up. Such revenues are threatened after DeepSeek, a Chinese company, said it was able to develop a large language model that can perform as well as big U.S. rivals but at a fraction of the cost. That raises questions about whether all the spending expected for AI chips and electricity will need to happen. AI-related stocks have been Wall Street's biggest stars in recent years, soaring on expectations that big spending will only continue to grow. The gains, though, also created criticism that the stock prices had simply gone too high, too fast. It's still uncertain how much DeepSeek's development will upend the AI industry. While it could mean less growth in spending than expected for data centers, electricity and chips, it could also boost other areas. "If AI becomes less expensive to use, we think businesses will adopt it more quickly, making a greater investment in AI software," according to James Egelhof, chief U.S. economist at BNP Paribas. "We think this acceleration in adoption could mean a rise in software investment that offsets - or even dwarfs - any deceleration in spending on data center structures, hardware and related investment." Some of Wall Street's most influential companies, including Apple, Meta Platforms, Microsoft and Tesla, will release profit reports later this week. A report showing confidence among U.S. consumers wasn't as strong as economists expected made relatively small waves in the bond market. The more anticipated event will come on Wednesday, when the Federal Reserve will announce its latest decision on interest rates. The widespread expectation is that it will leave the federal funds rate alone. If that proves true, it would be the first meeting where the Fed did not cut rates to give the economy a boost since it began doing so in September. In other dealings Wednesday, benchmark U.S. crude shed 14 cents to $73.63 a barrel. Brent crude, the international standard, lost 18 cents to $76.31 a barrel. In currency trading, the U.S. dollar fell to 155.09 Japanese yen from 155.53 yen. The euro cost $1.0438, down from $1.0432. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Stock market today: Asian stocks mostly higher after Wall Street tech gains

HONG KONG (AP) -- Asia markets are mostly higher on Friday following gains on Wall Street driven by Tesla, IBM and Meta Platforms after strong profit reports. U.S. futures and oil prices rose. Japan's core inflation rate, a key indicator of national trends, rose to 2.5% in January, surpassing the central bank's 2% target and paving the way for further interest rate hikes. Meanwhile, Japan's unemployment rate for December declined to 2.4% from 2.5% in the previous month. Tokyo's Nikkei 225 index edged 0.1% higher to 39,540.37. The Kospi in South Korea fell 1.4% to 2,501.83 as trading resumed on Friday after the holidays, during which Chinese startup DeepSeek stirred panic in the AI world. Shares of SK Hynix, a major supplier to Nvidia Corp., plummeted by 9.9%. Another tech giant, Samsung, lost 2.4%. Australia's S&P/ASX 200 advanced 0.3% to 8,516.90. In Bangkok, the SET was up 0.1%. Markets in Hong Kong and Shanghai remain closed for the lunar new year holidays. On Thursday, the S&P 500 rose 0.5% to 6,071.17, as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 0.4% to 44,882.13, and the Nasdaq composite gained 0.3% to 19,681.75. Meta Platforms helped push indexes higher by rising 1.6%. The company behind Facebook and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial-intelligence efforts and said it will continue to invest in the space. That calmed some of the worries created by DeepSeek when it said it developed a large language model capable of competing with the world's best without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centers and electricity is really needed and sent a shock through markets at the start of the week. The AI boom has been a primary reason for the U.S. stock market's run to repeated records, and the threat has hit stocks like Nvidia particularly hard. The chip company that's become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of 1% and was one of the strongest forces lifting the S&P 500. Keeping indexes in check was Microsoft, which fell 6.2%. The Redmond, Washington-based software giant topped analysts' expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts. Microsoft CEO Satya Nadella also continued to talk up AI following DeepSeek's disruption. "DeepSeek had some real innovations," he said, adding that it is good to have efficiency gains and lower prices in AI development because it "means people can consume more and there'll be more apps written." Treasury yields held relatively steady Thursday after a report indicated the U.S. economy grew at a solid pace at the end of 2024, but slightly slower than economists expected. The 10-year Treasury yield edged down to 4.52% from 4.53% late Wednesday. The report showed a "Goldilocks" economy at the turn of the year, one that was neither too hot nor too cold, according to Gregory Daco, chief economist at EY. But he warned many uncertainties in Washington could change things, including what it does with income tax rates, tariffs and immigration. In energy trading, benchmark U.S. crude added 55 cents to $73.28 a barrel. Brent crude, the international standard, rose 46 cents to $76.35 a barrel. In currency trading, the U.S. dollar rose to 154.42 Japanese yen from 154.18 yen. The euro cost $1.0385, down from $1.0392.

Stock market today: Asian stocks mostly higher after Wall Street tech gains

HONG KONG -- Asia markets are mostly higher on Friday following gains on Wall Street driven by Tesla, IBM and Meta Platforms after strong profit reports. U.S. futures and oil prices rose. Japan's core inflation rate, a key indicator of national trends, rose to 2.5% in January, surpassing the central bank's 2% target and paving the way for further interest rate hikes. Meanwhile, Japan's unemployment rate for December declined to 2.4% from 2.5% in the previous month. Tokyo's Nikkei 225 index edged 0.1% higher to 39,540.37. The Kospi in South Korea fell 1.4% to 2,501.83 as trading resumed on Friday after the holidays, during which Chinese startup DeepSeek stirred panic in the AI world. Shares of SK Hynix, a major supplier to Nvidia Corp., plummeted by 9.9%. Another tech giant, Samsung, lost 2.4%. Australia's S&P/ASX 200 advanced 0.3% to 8,516.90. In Bangkok, the SET was up 0.1%. Markets in Hong Kong and Shanghai remain closed for the lunar new year holidays. On Thursday, the S&P 500 rose 0.5% to 6,071.17, as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 0.4% to 44,882.13, and the Nasdaq composite gained 0.3% to 19,681.75. Meta Platforms helped push indexes higher by rising 1.6%. The company behind Facebook and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial-intelligence efforts and said it will continue to invest in the space. That calmed some of the worries created by DeepSeek when it said it developed a large language model capable of competing with the world's best without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centers and electricity is really needed and sent a shock through markets at the start of the week. The AI boom has been a primary reason for the U.S. stock market's run to repeated records, and the threat has hit stocks like Nvidia particularly hard. The chip company that's become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of 1% and was one of the strongest forces lifting the S&P 500. Keeping indexes in check was Microsoft, which fell 6.2%. The Redmond, Washington-based software giant topped analysts' expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts. Microsoft CEO Satya Nadella also continued to talk up AI following DeepSeek's disruption. "DeepSeek had some real innovations," he said, adding that it is good to have efficiency gains and lower prices in AI development because it "means people can consume more and there'll be more apps written." Treasury yields held relatively steady Thursday after a report indicated the U.S. economy grew at a solid pace at the end of 2024, but slightly slower than economists expected. The 10-year Treasury yield edged down to 4.52% from 4.53% late Wednesday. The report showed a "Goldilocks" economy at the turn of the year, one that was neither too hot nor too cold, according to Gregory Daco, chief economist at EY. But he warned many uncertainties in Washington could change things, including what it does with income tax rates, tariffs and immigration. In energy trading, benchmark U.S. crude added 55 cents to $73.28 a barrel. Brent crude, the international standard, rose 46 cents to $76.35 a barrel. In currency trading, the U.S. dollar rose to 154.42 Japanese yen from 154.18 yen. The euro cost $1.0385, down from $1.0392.

Stock Market Today: Asian Stocks Mostly Higher After Wall Street Tech Gains

HONG KONG (AP) -- Asia markets are mostly higher on Friday following gains on Wall Street driven by Tesla, IBM and Meta Platforms after strong profit reports. U.S. futures and oil prices rose. Japan's core inflation rate, a key indicator of national trends, rose to 2.5% in January, surpassing the central bank's 2% target and paving the way for further interest rate hikes. Meanwhile, Japan's unemployment rate for December declined to 2.4% from 2.5% in the previous month. Tokyo's Nikkei 225 index edged 0.1% higher to 39,540.37. The Kospi in South Korea fell 1.4% to 2,501.83 as trading resumed on Friday after the holidays, during which Chinese startup DeepSeek stirred panic in the AI world. Shares of SK Hynix, a major supplier to Nvidia Corp., plummeted by 9.9%. Another tech giant, Samsung, lost 2.4%. Australia's S&P/ASX 200 advanced 0.3% to 8,516.90. In Bangkok, the SET was up 0.1%. Markets in Hong Kong and Shanghai remain closed for the lunar new year holidays. On Thursday, the S&P 500 rose 0.5% to 6,071.17, as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 0.4% to 44,882.13, and the Nasdaq composite gained 0.3% to 19,681.75. Meta Platforms helped push indexes higher by rising 1.6%. The company behind Facebook and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial-intelligence efforts and said it will continue to invest in the space. That calmed some of the worries created by DeepSeek when it said it developed a large language model capable of competing with the world's best without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centers and electricity is really needed and sent a shock through markets at the start of the week. The AI boom has been a primary reason for the U.S. stock market's run to repeated records, and the threat has hit stocks like Nvidia particularly hard. The chip company that's become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of 1% and was one of the strongest forces lifting the S&P 500. Keeping indexes in check was Microsoft, which fell 6.2%. The Redmond, Washington-based software giant topped analysts' expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts. Microsoft CEO Satya Nadella also continued to talk up AI following DeepSeek's disruption. "DeepSeek had some real innovations," he said, adding that it is good to have efficiency gains and lower prices in AI development because it "means people can consume more and there'll be more apps written." Treasury yields held relatively steady Thursday after a report indicated the U.S. economy grew at a solid pace at the end of 2024, but slightly slower than economists expected. The 10-year Treasury yield edged down to 4.52% from 4.53% late Wednesday. The report showed a "Goldilocks" economy at the turn of the year, one that was neither too hot nor too cold, according to Gregory Daco, chief economist at EY. But he warned many uncertainties in Washington could change things, including what it does with income tax rates, tariffs and immigration. In energy trading, benchmark U.S. crude added 55 cents to $73.28 a barrel. Brent crude, the international standard, rose 46 cents to $76.35 a barrel. In currency trading, the U.S. dollar rose to 154.42 Japanese yen from 154.18 yen. The euro cost $1.0385, down from $1.0392. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Stock market today: Asian stocks mostly higher after Wall Street tech gains

core inflation rate, a key indicator of national trends, rose to 2.5% in January, surpassing the central bank's 2% target and paving the way for further interest rate hikes. Meanwhile, Japan's unemployment rate for December declined to 2.4% from 2.5% in the previous month. On Thursday, the S&P 500 rose 0.5% to 6,071.17 as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 0.4% to 44,882.13, and the Nasdaq composite gained 0.3% to 19,681.75. helped push indexes higher by rising 1.6%. The company behind and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial intelligence efforts and said it will continue to invest in the space. That calmed some of the worries created by when it said it developed a large language model capable of competing with the world's best without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centers and electricity is really needed and sent a shock through markets at the start of the week. The AI boom has been a primary reason for the stock market's run to repeated records, and the threat has hit stocks like particularly hard. The chip company that's become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of 1% and was one of the strongest forces lifting the S&P 500. Keeping indexes in check was , which fell 6.2%. The -based software giant topped analysts' expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts. CEO also continued to talk up AI following DeepSeek's disruption. "DeepSeek had some real innovations," he said, adding that it is good to have efficiency gains and lower prices in AI development because it "means people can consume more and there'll be more apps written." yields held relatively steady Thursday after a report indicated the economy grew at a solid pace at the end of 2024, but slightly slower than economists expected. The 10-year yield edged down to 4.52% from 4.53% late Wednesday. The report showed a "Goldilocks" economy at the turn of the year, one that was neither too hot nor too cold, according to , chief economist at EY. But he warned many uncertainties in could change things, including what it does with income tax rates, tariffs and immigration. Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission. , source

Global stocks mostly higher after Wall Street tech gains

HONG KONG (AP) - World markets mostly rose yesterday following gains on Wall Street driven by Tesla, IBM and Meta Platforms after strong profit reports. European markets opened higher after the European Central Bank cut its key interest rate to by a quarter-point to 2.75 per cent on Thursday. France's CAC 40 rose 0.2 per cent in early trading to 7,958.35, while Germany's DAX was flat at 7,958.35. Britain's FTSE 100 was up 0.2 per cent to 8,667.17. S&P 500 futures increased 0.4 per cent and those for the Dow Jones Industrial Average added 0.2 per cent. In Asia, Tokyo's Nikkei 225 index edged 0.2 per cent higher to 39,572.49. Japan's core inflation rate, a key indicator of national trends, rose to 2.5 per cent in January, surpassing the central bank's two per cent target and paving the way for further interest rate hikes. Meanwhile, Japan's unemployment rate for December declined to 2.4 per cent from 2.5 per cent in the previous month. The Kospi in South Korea fell 0.8 per cent to 2,517.37 as trading resumed yesterday after the holidays, during which Chinese startup DeepSeek stirred panic in the AI world. Shares of SK Hynix, a major supplier to Nvidia Corp, plummeted by 9.9 per cent. Another tech giant, Samsung, lost 2.4 per cent. Australia's S&P/ASX 200 advanced 0.5 per cent to 8,532.30. In Bangkok, the SET was down 1.6 per cent. Markets in Hong Kong and Shanghai remain closed for the lunar new year holidays. On Thursday, the S&P 500 rose 0.5 per cent to 6,071.17 as four out of every five stocks in the index climbed. The Dow Jones Industrial Average added 0.4 per cent to 44,882.13, and the Nasdaq composite gained 0.3 per cent to 19,681.75. Meta Platforms helped push indexes higher by rising 1.6 per cent. The company behind Facebook and Instagram delivered a better profit for the end of 2024 than analysts expected. Perhaps just as importantly for the market, it also talked up its artificial intelligence (AI) efforts and said it will continue to invest in the space. That calmed some of the worries created by DeepSeek when it said it developed a large language model capable of competing with the world's best without having to use top-flight chips. That raised questions about whether all the investment expected for AI chips, data centres and electricity is really needed and sent a shock through markets at the start of the week. The AI boom has been a primary reason for the United States (US) stock market's run to repeated records, and the threat has hit stocks like Nvidia particularly hard. The chip company that's become the symbol of the AI frenzy spent most of Thursday lower but ended with a gain of one per cent and was one of the strongest forces lifting the S&P 500. Keeping indexes in check was Microsoft, which fell 6.2 per cent. The Redmond, Washington-based software giant topped analysts' expectations for profit in the latest quarter, but the focus was instead on the slower-than-expected growth in its cloud computing business, which is a centerpiece of its AI efforts. Treasury yields held relatively steady on Thursday after a report indicated the US economy grew at a solid pace at the end of 2024, but slightly slower than economists expected. The 10-year Treasury yield edged down to 4.52 per cent from 4.53 per cent late Wednesday. The report showed a 'Goldilocks' economy at the turn of the year, one that was neither too hot nor too cold, according to Chief economist at EY Gregory Daco. But he warned many uncertainties in Washington could change things, including what it does with income tax rates, tariffs and immigration. In energy trading, benchmark US crude added 16 cents to USD72.89 a barrel. Brent crude, the international standard, rose 10 cents to USD75.99 a barrel. In currency trading, the US dollar rose to JPY154.64 from JPY154.18. The euro cost USD1.0389, down from USD1.0392.