Major US stock indexes closed sharply higher on Monday (October 13), recovering from Friday's sharp sell-off after President Trump took a softer stance on US-China trade tensions, assuring that relations with Beijing "will be fine." The S&P 500 and Nasdaq 100 rose 1.6% and 2.2%, respectively, while the Dow Jones Industrial Average surged 593 points, as investors returned to riskier assets following Trump's comments.
Trump's remarks helped ease fears of an escalating trade war after last week's threat of 100% tariffs on Chinese goods wiped out approximately $2 trillion in market value. Tech stocks led the gains, with Nvidia and AMD rising 2.9% and 0.8%, respectively, Oracle surging 5.1%, and Broadcom surging 9.9% after confirming its AI partnership with OpenAI.
However, investors remain cautious amid the prolonged government shutdown and delayed economic data releases, as attention shifts to the start of earnings season, with major banks like JPMorgan, Goldman Sachs, and Citigroup set to report results this week. (alg)
Source: Trading Economics
Tested EN...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is starting to lose steam. At the same time, US governmen...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% fr...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little chang...
Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in Japanese stocks amid escalating tensions with China. Th...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...