US stocks were mixed for a second session on Wednesday as the market assessed the sustainability of the AI-driven rally, retail earnings results, and the outlook for US interest rates. The Dow Jones Industrial Average edged higher while the S&P 500 held near the flatline, although the Nasdaq 100 weakened as the tech giant continued its aggressive decline from the previous session.
Tech giants' stocks weakened further amid concerns that valuations may have become overstretched, in line with research indicating that most AI companies will be unprofitable, while MetaTrader has overhauled its AI team. Nvidia, MetaTrader, and Alphabet all fell about 1%. Meanwhile, earnings at major retail companies were mixed.
Target fell 10% after announcing a new CEO, despite its revenue beating expectations, while Estee Lauder fell 4% on downbeat projections. Meanwhile, TJX and Lowe's rose 7% and 3% respectively after releasing earnings. Walmart will report tomorrow. Meanwhile, the FOMC minutes could reveal how policymakers weighed the labor market slowdown against stubborn inflation. (alg)
Source: Trading Economics
US equities fell on Wednesday as skepticism on grounds for future AI returns pressured tech companies, while markets assessed earnings from retailers and FOMC minutes. The S&P 500 and the Nasdaq 1...
European indices were mixed on Wednesday following a tech-led selloff on Wall Street, while U.K. inflation came in hotter than expected, raising doubts over future monetary easing by the Bank of Engla...
European stocks fell on Wednesday (August 20), with the Stoxx 50 down 0.4% and the Stoxx 600 down 0.3%, led by defense stocks. The Stoxx Europe Aerospace & Defense Index fell 0.9% after a 2.6% dro...
US stocks fell on Tuesday as losses in major technology names dragged the market lower, with the S&P 500 slipping 0.6% and the Nasdaq falling 1.5%, its lowest level in more than two weeks, on stee...
European stocks rose Tuesday, with investors digesting the meeting between U.S. President Donald Trump and Ukraine President Volodymyr Zelensky in Washington. The DAX index in Germany gained 0.5%, th...
Bank Indonesia unexpectedly cut its benchmark interest rate by 25 bps to 5.0% at its August 2025 policy meeting, following a 25 bps cut the previous month and defying market expectations to hold rates steady. This marked the fifth rate cut since...
US equities fell on Wednesday as skepticism on grounds for future AI returns pressured tech companies, while markets assessed earnings from retailers and FOMC minutes. The S&P 500 and the Nasdaq 100 lost 0.5% and 1%, respectively, while the Dow...
According to the FOMC Minutes, the two Federal Reserve policymakers who disagreed with the central bank's decision to keep interest rates the same last month were not joined by other policymakers in calling for lower rates at that meeting. Key...
Federal Reserve Chairman Jerome Powell is set to speak at the annual central bank symposium this week amid growing bets that a rate cut is nearly...
The Trump administration has expanded its 50% tariffs on steel and aluminum imports to cover hundreds of additional products. In a Federal Register...
Asia-Pacific markets traded mixed Monday , after the U.S.-Russia summit concluded without a ceasefire.
Japan's Nikkei 225 benchmark rose 0.62%,...
Asia-Pacific markets mostly fell Tuesday as investors await the outcome of the talks between U.S. President Donald Trump, Ukraine's President...