Gold (XAU/USD) is trading higher on Friday as investors remain focused on Fed expectations US economic data. At the time of writing, XAU/USD recovers above $3,350, pushing the price closer toward the upper boundary of a symmetrical triangle pattern. Traders are digesting fresh US housing data released on Friday, with Building Permits and Housing Starts for June providing further insight into the health of the real estate sector which improved significantly. Meanwhile, the University of Michigan (UoM) released the first set of preliminary Sentiment data which rose to 61.8 in Jyl, from 60.7...
European stocks trimmed early losses but still lower on Wednesday, pressured by pessimistic corporate earnings and persistent concerns that tariffs by the US government will erode growth for major economies. The Eurozone's STOXX 50 closed marginally below the flatline at 4,967 and the pan-European STOXX 600 dropped 0.2% to close at 507. ASML posted a decline in its revenues and noted that concerns surrounding the unpredictable economic policy in the US is likely to hit orders from its main clients, driving its share price to plunge by 5.2%. In the meantime, LVMH lost 1% to extend its...
Stocks fell on Wednesday as investors assessed a stark warning from Nvidia that pressured global tech. The Dow Jones Industrial Average shed 180 points, or 0.4%. The S&P 500 dropped 0.9%, and the Nasdaq Composite pulled back 1.8%. Shares of Nvidia lost 6% after the chip giant said it will post a $5.5 billion quarterly charge related to exporting its H20 graphics processing units to China and other nations. The company said in a filing that the U.S. government required a license to send chips from the U.S. to China. Other chipmakers followed Nvidia lower. AMD slid more than 6%, while...
The Hang Seng tumbled 409 points or 1.9% to close at 21,057 on Wednesday, snapping six-session of gains as U.S. futures plunged amid mounting uncertainty over U.S. trade tariffs. Markets fell from a two-month high after some major banks, including Morgan Stanley and UBS, cut China's 2024 growth outlook due to tariff pressure. Goldman Sachs also warned that previous export frontloading may weigh on Q2 growth. China's economy expanded 5.4% yoy in Q1, holding steady for the second quarter and beating consensus of 5.1%. Losses were almost broad-based, led by tech stocks, with the sector...
European markets opened lower on Wednesday as uncertainty over the direction of U.S. trade tariffs continues to dent sentiment. The pan-European Stoxx 600 index was 0.93% lower at 8:45 a.m. U.K. time following two strong sessions of gains. Critical chip firm ASML dropped 5.5% after it missed expectations on net bookings and flagged uncertainty around U.S. trade. Industry peer ASM International was pulled 3.85% lower. U.K. inflation data for March came in at 2.6% in March, according to figures published by the Office for National Statistics on Wednesday, below the 2.7% forecast in a Reuters...
Japanese stocks fell after the close on Wednesday (4/16), as losses in the Paper & Pulp, Transportation and Communications sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.03%. The best performers on the Nikkei 225 were Toho Co., Ltd. (TYO:9602), which rose 6.04% or 461.00 points to trade at 8,097.00 at the close. Meanwhile, Eisai Co., Ltd. (TYO:4523) gained 3.70% or 138.00 points to close at 3,865.00 and Shimizu Corp. (TYO:1803) gained 2.93% or 39.00 points to 1,372.00 in late trade. The worst performers on the session were Advantest Corp. (TYO:6857), which...
Hong Kong stocks plunged 536 points, or 2.5%, to 20,934 around midday on Wednesday, ending a six-session winning streak as traders locked in profits after the Hang Seng hit a two-month high earlier this week. U.S. stock futures also fell sharply, tracking overnight losses on Wall Street, as Nvidia shares slumped following fresh U.S. government restrictions on sales of its H20 AI chips to China and other regions. The Hang Seng Tech Index plunged more than 4%, with Meituan down 7.0%, while Tencent Holdings and Alibaba Group dropped 2.4% and 1.5%, respectively. (Newsmaker23) Source: Trading...
Asian stocks fell and U.S. equity index futures slid as the trade conflict showed no sign of abating, with Nvidia Corp. saying the U.S. was imposing new restrictions on some chip exports to China. Contracts for the Nasdaq 100 fell more than 1.4% in early trading and S&P 500 futures dropped 0.9% after Nvidia slumped in after-hours trading. Gold, a safe-haven asset that tends to rise when riskier assets decline, hit a fresh record on Wednesday. Bonds held onto the previous session's gains boosted by comments from a Treasury official about potential rule changes that could lower trading...
Tokyo stocks edged lower in early trade, amid uncertainty over additional tariffs and after U.S. authorities told Nvidia semiconductors they would need export permits to China. The Topix fell 0.1% to 2,512.02 as of 9:28 a.m. Tokyo time The Nikkei fell 0.3% to 34,176.54 Advantest was the biggest contributor to the Topix decline, down 4.4%. Of the 1,689 stocks in the index, 986 rose and 598 fell, while 105 were unchanged. "The tighter restrictions on Nvidia products show that tensions between the U.S. and China are escalating, and it's hard to invest in technology stocks unless the overall...
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....