Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said it's reasonable for policymakers to plan on two interest-rate cuts this year, emphasizing that the central bank...
The Nikkei 225 Index dropped 0.5% to below 38,300, while the broader Topix Index lost 0.4% to 2,678 on Wednesday, extending losses from the previous session as the yen continued to strengthen amid speculation that the Bank of Japan may raise interest rates again next month. A stronger yen dampens the profit outlook for Japan's export-driven industries and makes Japanese assets more expensive for foreign investors. Traders are also awaiting the latest Tokyo inflation data, which is seen as a leading indicator for nationwide price trends. Export-heavy auto and consumer stocks led the decline,...
Dow Jones Industrial Average jumping to fresh highs, as investors shook off the threat of new tariffs from President-elect Donald Trump. The blue-chip Dow advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P 500 added 0.57% to 6,021.63. Both the Dow and S&P 500 notched new intraday and closing records. The Nasdaq Composite jumped 0.63% to 19,174.30. Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said...
European stock markets closed lower in Tuesday trading as the Stoxx Europe was down 0.57%, Germany's DAX dropped 0.56%, the FTSE in London fell 0.40%, France's CAC lost 0.87%, and the Swiss Market Index closed 0.39% lower. The European Union has agreed to new carbon market rules and new climate finance goal, the EU announced on Saturday. The deal is intended to provide for more countries to contribute finance based on their growing emissions and economic weight. And in corporate news, Luxembourg-based steel producer ArcelorMittal (MT) said Tuesday that it is slowing its carbon reduction...
The benchmark S&P 500 and the Nasdaq opened higher on Tuesday, with investors assessing Donald Trump's tariff pledges on top trade partners of the U.S. and awaiting minutes from the Federal Reserve's latest meeting. The Dow Jones Industrial Average (.DJI), fell 121.7 points, or 0.27%, at the open to 44,614.89. The S&P 500 (.SPX), rose 12.7 points, or 0.21%, at the open to 6,000.03, while the Nasdaq Composite (.IXIC), rose 54.2 points, or 0.28%, to 19,109.082 at the opening bell. Source : Reuters
The best performers of the session on the Nikkei 225 were Kao Corp. (TYO:4452), which rose 4.13% or 260.00 points to trade at 6,562.00 at the close. Meanwhile, M3 Inc (TYO:2413) added 4.05% or 57.00 points to end at 1,465.50 and Sapporo Holdings Ltd. (TYO:2501) was up 3.37% or 282.00 points to 8,639.00 in late trade. The worst performers of the session were Fujikura Ltd. (TYO:5803), which fell 6.76% or 381.00 points to trade at 5,259.00 at the close. Lasertec Corp (TYO:6920) declined 5.49% or 970.00 points to end at 16,705.00 and Kawasaki Heavy Industries, Ltd. (TYO:7012) was down 5.39% or...
The Hang Seng Index advanced slightly to 19,159.20 in Hong Kong. The move follows the previous session's decrease of 0.4%. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 1.7%. Baidu Inc. had the largest increase, rising 4.2%. Today, 35 of 82 shares rose, while 44 fell; 2 of 4 sectors were higher, led by finance stocks. Source : Bloomberg
European equity markets were poised to open sharply lower on Tuesday, as global sentiment soured following US President-elect Donald Trump's vow to raise tariffs on China, Mexico, and Canada, fueling concerns over escalating global trade tensions. Regional markets have faced pressure since Trump's election, with fears that his administration could target European economies and companies with additional tariffs. Meanwhile, there are no major economic or earnings reports scheduled in Europe for today. In pre-market trading, Euro Stoxx 50 and Stoxx 600 futures were both down around...
The Shanghai Composite rose 0.6% to above 3,280 while the Shenzhen Component gained 0.1% to 10,430 on Tuesday, with mainland stocks recovering losses from the previous session amid hopes that Beijing would implement more stimulus measures to support economic growth and mitigate the impact of escalating US tariffs. However, sentiment remained cautious as US President-elect Donald Trump announced plans to impose an additional 10% tariff on all Chinese goods entering the US. Notable performers included East Money Information (+1.5%), Guangdong Dongfang (+2.3%), Zhejiang Jinke (+4.6%),...
Gold (XAU/USD) is extending its decline on Wednesday for a second consecutive day as the US Dollar (USD) and US Treasury yields firm ahead of the release of the Federal Open Market Committee (FOMC)...
Oil extended declines after OPEC+ agreed to a bigger-than-expected production increase next month, raising concerns about oversupply just as US tariffs fan fears about the demand outlook.
Brent...
The Japanese Yen (JPY) weakened against its US counterpart and reversed part of Friday's recovery from the lowest level since July 23 following Bank of Japan (BOJ) Governor Kazuo Ueda's remarks....