US equities were higher on Friday, extending momentum after the three major benchmarks notched fresh record closes in the previous session. For the week, the S&P 500 and Dow Jones are each up 0.7%, while the Nasdaq has gained 1.5% so far, supported by the Fed's first rate cut of the year and expectations of further easing in 2025. Traders also monitored a call between President Trump and President Xi for potential updates on trade negotiations. Meanwhile, a $5 trillion quarterly triple-witching options expiry takes place today, although volatility is expected to remain limited. Consumer...
European stocks closed slightly higher on Friday (September 19th) as strength in the heavyweight financial sector offset mixed movements elsewhere, while markets continued to assess key monetary policy decisions for the week. The Eurozone STOXX 50 rose 0.2% to 5,467, and the pan-European STOXX 600 was flat at 555. The Bank of Japan kept interest rates unchanged as expected but surprised markets by announcing plans to begin unwinding its massive holdings of exchange-traded funds (ETFs). Traders also monitored a phone call between U.S. and Chinese Presidents Trump and Xi, with both leaders...
US stocks closed at new highs on Friday (September 19), continuing their record-breaking rally from the previous session as investors digested upbeat corporate earnings reports, the Fed's first interest rate cut in 2025, and signs of progress in US-China relations. The S&P 500 rose 0.5%, surpassing the 6,600 level, the Nasdaq 100 gained 0.7%, and the Dow Jones Industrial Average rose 172 points, surpassing the 46,300 level for the first time. FedEx jumped 2.3% after reporting better-than-expected results, while Apple jumped 3.2% on a J.P. Morgan price target increase and the launch of...