The US Dollar Index (DXY) moved in negative territory and fell slightly to around 98.25 at the start of the European session on Tuesday. This weakening occurred as market participants adopted a wait-and-see approach ahead of the release of a series of US economic data, particularly the delayed November jobs report. The market's primary focus is on today's release of the October and November Nonfarm Payrolls (NFP). If the data shows a slowing labor market, expectations of a Fed interest rate cut could strengthen, which would typically weaken the dollar. Conversely, if the results are...
The Nikkei 225 index closed up 1.34% to 50,883.68 on Thursday (November 6th), helped by solid US data: the ISM services index hit an eight-month high and the ADP added 42,000 jobs. Sentiment improved after valuation concerns eased, although the market now sees the chance of a Fed rate cut in December down to around 60% from 70% at the start of the week. Domestically, Japan's Services PMI remained in expansion at 53.1, while the composite PMI was at 51.5, and cash wages rose 1.9%, driven by a surge in bonuses. Corporate news: Nissan targets record profits from its headquarters sale-leaseback...
Asian markets opened higher, following Wall Street's rebound. The Nikkei and Kospi jumped around 1% at the open, while US stock futures fluctuated after the Nasdaq 100 rose 0.7% and the S&P 500 gained 0.4%. In the bond market, the 10-year US Treasury yield held steady at around 4.15%. Oil stabilized after two days of declines, and shares of several US retailers rose as a US Supreme Court appearance that appeared skeptical of broad tariffs raised hopes that tariffs could be lifted. The return of buyers came after a brief decline that fueled concerns about overvaluation. Private data...
The Nikkei index rose 1.5% to 50,979.20 in early trading, driven by a weaker yen and a rebound in US technology stocks overnight. Positive sentiment quickly spread to semiconductor-related stocks, providing a strong boost at the market open. Kioxia Holdings shares jumped 6.0%, while SoftBank Group rose 2.5%, leading the tech sector's advance. The weaker yen also boosted exporters' prospects; USD/JPY stood at 154.03, up from 153.64 at Wednesday's close, making the earnings potential of export-based companies more attractive. Investors are now watching for performance releases and signals...
European stocks closed slightly higher on Wednesday, tracking the rebound in North American equities as speculation on future AI returns continued to dictate risk sentiment. The Eurozone's STOXX 50 rose 0.2% to 5,670 and the pan-European STOXX 600 rose 0.3% to 572. Industrial giants and auto producers led the gains in the session to rebound from their losses yesterday, with Schneider Electric and Wolters Kluwer advancing between 2% and 1.5%. In the meantime, BMW surged close to 7% after posting improved margins despite dealing with tariff uncertainties in the third quarter, lifting shares...
The three major US stock averages fluctuated between small gains and losses on Wednesday, attempting to rebound from Tuesday's weak session, when concerns over lofty AI valuations weighed on sentiment while earnings remained in focus. The tech sector stayed under pressure, while materials and energy outperformed. AMD slipped 1.7% after issuing a revenue forecast that failed to impress investors, and Super Micro Computer tumbled 7.3% following a weaker-than-expected earnings outlook for the current period. Palantir Technologies extended losses, falling 2.3%. Nvidia edged down 0.2%, while...
European stocks opened lower on Wednesday (November 5th), reflecting a global downturn amid growing concerns over sky-high tech valuations. The pan-European Stoxx 600 Index was down 0.4% at 8:20 a.m. in London (3:20 a.m. ET), with most major bourses and sectors in the red. The UK's FTSE 500 Index opened 0.1% lower, Germany's DAX 0.7% lower, France's CAC 40 0.4% lower, and Italy's FTSE MIB 0.3% lower. European tech companies led the decline, with the Stoxx Europe 600 Technology Index down 1.2% following a sharp sell-off in U.S. tech stocks on Tuesday. The sluggish sentiment seen in...
The Hang Seng Index fell 17 points, or 0.1%, to close at 25,935 on Wednesday (November 5), marking its second session of decline after Wall Street plunged on valuation concerns on Tuesday. Technology and property stocks led the decline, amid caution ahead of key Chinese data, including October trade figures on Friday and the inflation release on Sunday. Meanwhile, a private survey showed China's services sector grew at its slowest pace in three months in October, due to weak foreign demand and continued layoffs. However, the market pared initial losses after Premier Li Qiang's statement,...
Japanese stocks fell sharply on Wednesday: the Nikkei 225 fell 2.5% to 50,212, and the Topix dropped 1.26% to 3,268. The sell-off was led by technology stocks amid growing concerns about AI valuations. Sentiment became even more fragile after Wall Street executives warned of a potential market correction in the next two years, coupled with uncertainty about the direction of US interest rate cuts. Technology was the main drag: SoftBank Group fell 10% due to its heavy exposure to AI and technology investments. Chip and semiconductor equipment stocks also suffered: Advantest (-6%), Lasertec...
Gold rises in the early Asian trade. There's a broad commodities uptrend, driven by macro uncertainty, a weaker dollar, and persistent demand for "hard" assets, says Fawad Razaqzada, market analyst...
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....