The US Dollar Index (DXY) continued its strengthening for a second day and briefly hovered around 98.20 during the Asian session, driven by hawkish comments from Kansas City Fed President Jeffrey Schmid. He emphasized that the Fed must maintain credibility in combating inflation, stating that inflation remains too high, and assessing that current monetary policy is "properly calibrated." However, this encouragement is met with growing expectations of an interest rate cut, coupled with the ongoing US government shutdown. The CME FedWatch tool now projects a 94% chance of a 25 bps cut in...
Stocks rose on Tuesday as investors awaited more insight into trade talks between the U.S. and China. The Dow Jones Industrial Average rose 51 points, or 0.1%. The S&P 500 rose about 0.3% along with the Nasdaq Composite Talks between U.S. and Chinese officials in London continued for a second day. U.S. Commerce Secretary Howard Lutnick said Tuesday that discussions were "going well, and we're spending a lot of time together" and that he expected talks to continue throughout the day. Traders are watching the discussions for signs of a deal that doesn't involve the countries imposing...
The Hang Seng closed slightly lower at 24,163 on Tuesday, reversing early gains as declines in the technology and consumer staples sectors weighed on sentiment. Some traders locked in profits after the index hit a near three-month high in the previous session. Market sentiment turned cautious as mainland stocks retreated ahead of the second day of U.S.-China trade talks, where officials aim to resolve key disputes. While Washington and Beijing agreed to ease tariffs for 90 days, trade flows remained weak, with Chinese exports to the U.S. falling the most since the pandemic and U.S. imports...
European stocks were steady on Tuesday, shrugging off modest losses from the previous session, as investors stayed on edge awaiting fresh signals from the second day of tense U.S.-China trade negotiations. The continent-wide STOXX 600 held its ground at 553.12 points, as of 0703 GMT. The spotlight remains on the talks in London between the world's two biggest economies, as investors eagerly watch for any signs of progress or a thaw in relations. U.S. President Donald Trump on Monday put a positive spin on the talks, without divulging any details on how the trade war, that has threatened...
The Nikkei 225 index rose for a third day, as chip-related names were boosted by overnight gains in the US technology shares. The Topix index fluctuated during the day ahead of the US-China trade talks. Topix Index was virtually unchanged at 2,786.24 as of market close Tokyo time Nikkei advanced 0.3% to 38,211.51 The Philadelphia Semiconductor Stock Index, or SOX, climbed almost 2% overnight. That helped Tokyo-listed tech companies such as Taiyo Yuden, Rohm and Renesas Electronics. Exporters, such as the electric appliances sector, were helped...
Japanese stocks are higher as fears about U.S. tariffs ease. A weaker yen is also helping shares of exporters. Electronics stocks are leading gains. Renesas Electronics is up 3.7% and Nidec Corp. is 3.2% higher. USD/JPY is at 144.53, compared with 144.29 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to U.S.-China trade talks as well as the war in Ukraine. The Nikkei Stock Average is up 0.6% at 38320.06. Source : Dow Jones Newswires
U.S. stocks traded in narrow ranges Monday as investors awaited news from the renewed trade talks between Washington and Beijing, as well as key inflation data later in the week. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average dropped 45 points, or 0.1%, and the S&P 500 index slipped 3 points, or 0.1%, while the NASDAQ Composite gained 30 points, or 0.2%. The main averages on Wall Street have continued to gain after ending higher on Friday, fueled by a stronger-than-anticipated U.S. labor market reading for May, although risk appetite was rattled by signs of steadily...
US stocks started US trading on a cautious note, with the S&P 500 and Nasdaq fluctuating around the flatline while the Dow Jones fell nearly 100 points. Traders were monitoring talks between the US and China, as officials from both countries met in London today, after Presidents Trump and Xi held a phone call last week and hopes were rekindled that trade tensions could ease. Meanwhile, investors continued to await further signs on how the trade war is impacting the economy, with CPI and PPI due later this week to provide an update on inflationary pressures. Consumer staples and...
The Hang Seng jumped 389 points, or 1.6%, to close at 24,181 on Monday, recovering from losses in the previous session and hitting its highest in nearly three months. The gains were broad-based, driven by optimism ahead of high-level U.S.-China trade talks. The technology sector led the gains, with SMIC and Meituan each up 4.9% while Alibaba rose 2.0%. Rare earth stocks also gained after Beijing approved some export applications, easing concerns about trade tensions. However, weak Chinese economic data limited further gains. May exports grew the slowest in three months, while imports shrank...
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....