The US dollar strengthened slightly and US Treasury bonds pared earlier gains after disappointing US jobs data proved insufficient to convince the market that the Fed would soon cut interest rates again. The dollar strengthened against G10 currencies, most notably against the yen, while the yield on the 10-year US Treasury note rose to around 4.17%. In commodity markets, the movement was much more violent. Oil prices rose about 1.3% after President Donald Trump ordered a blockade of tankers entering and leaving Venezuela, sparking supply concerns from the OPEC member. At the same time,...
Asia-Pacific markets fell Monday after China and the U.S. tightened trade restrictions and traded fresh accusations, renewing tensions between the world's two largest economies. China on Sunday said "we are not afraid of" a trade war with the United States after President Donald Trump vowed to impose punishing new retaliatory tariffs on Chinese imports. A spokesperson for China's Ministry of Commerce accused the U.S. of a "textbook double standard" with Trump's promise on Friday to tack on additional 100% tariffs on those imports after China imposed new export controls on rare earths...
The Dow Jones Industrial Average (DJIA) soured sharply on Friday, plummeting to its lowest bids in nearly three weeks and declining over 1,000 points top-to-bottom after US President Donald Trump pulled out of upcoming trade talks with Chinese President Xi Jinping and vowed to sharply increase import tariffs on all Chinese goods. According to Trump, China is holding the rest of the world hostage with its protectionist rare earth materials policies. Market-wide expectations of a potential tariff-easing trade deal between the US and China were demolished by Trump's fresh tariff proclamation,...
European stocks extended losses for a second session on Friday, with both the Stoxx 50 and Stoxx 600 down around 1%. Defense stocks led declines as signs of progress emerged in a US-brokered peace deal in the Middle East. Israel confirmed that a ceasefire with Hamas took effect at noon local time, with troop withdrawals from parts of Gaza as hostages were released under the agreement. The Stoxx Europe Aerospace and Defense index slumped over 2%, led by Leonardo (-5.6%), Rheinmetall (-2.5%), Thales (-2.4%), Saab (-2.2%), BAE Systems (-1.9%), Rolls-Royce (-1.7%), Safran (-1.6%), and Airbus...
US stock indexes opened slightly higher on Friday (October 10) New York time, as investors "buy the dip" while awaiting the release of U-Mich Consumer Sentiment amid the government shutdown, which has entered its 10th day. The Dow Jones Industrial Average rose around 0.08%, the S&P 500 +0.08%, and the Nasdaq +0.08% at the opening bell. This optimistic tone comes after the previous session's correction and hopes that sentiment data could provide clues to the economy's future direction. On the other side of the market, gold remained above the psychological threshold and the US 10-Year...
The Hang Seng Index plunged 462 points, or 1.7%, to close at 26,290 on Friday (October 10), extending its decline for the fifth consecutive session and hitting a two-week low. Technology stocks led the decline, down more than 3%, after China tightened rare earth metal export controls and increased restrictions on chip imports to reduce reliance on US products such as Nvidia's AI processors. Consumer goods stocks also fell about 2.7%, as investors grew cautious ahead of key Chinese data for September next week, including trade, CPI/PPI, and credit data. Top losers included Zhojin Mining...
European stocks were flat on Friday morning, but the Stoxx Europe 600 was still headed for a weekly gain of ~0.2% as French political concerns eased. The automotive and consumer goods sectors led the way, while energy and mining lagged. ArcelorMittal briefly fell as much as 5.2% after Goldman Sachs cut its rating from buy to neutral due to its perceived "overstretched" valuation. Sentiment improved after news that President Emmanuel Macron would appoint a new prime minister on Friday evening, helping to stem the decline in French stocks following the resignation of Sebastien Lecornu. The...
Japanese stocks closed lower on Friday after the semiconductor sector was hit by a sell-off due to concerns about overvaluation and a weakening Philadelphia Semiconductor Index. The Topix fell 1.8% to 3,197.59, while the Nikkei fell 1% to 48,088.80. Sony Group was the biggest drag on the Topix, falling 4%. Of the 1,672 stocks on the Topix, 155 rose, 1,490 fell, and 27 remained unchanged—indicating widespread selling pressure. In corporate stocks, Seven & i fell 3.5% after cutting its full-year forecast below analyst expectations due to a weakening domestic convenience store business....
The Hang Seng Index fell 0.9% to 26,518.27 on Friday morning (9:50 a.m. local time), following a pause in the Wall Street rally and concerns that AI hype has led to overpriced valuations. The biggest pressure came from large tech stocks: Baidu -3.2%, Alibaba -2.2%, JD.com -1.9%, followed by Li Auto -3.3% and Zijin Mining -4.5%. The Hang Seng Tech Index also fell 2.3%, putting the Hang Seng on track for its worst weekly decline in 10 weeks. Several stocks held off further losses: Pop Mart +1.6%, Trip.com +0.2%, and Hang Seng Bank +0.2%—continuing the previous day's 26% surge following HSBC's...
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....