The US dollar index fluctuated around 98.4 on Friday (December 19) and is expected to close the week relatively unchanged. Investors are still weighing the chances of a Federal Reserve interest rate cut next year, as inflation continues to decline and signs of weakness in the US labor market emerge. The latest inflation data indicates price pressures are easing. The November CPI report showed headline inflation fell to 2.7%, the lowest since July and below market expectations. Core inflation also weakened to 2.6%, the slowest pace since early 2021. Meanwhile, the unemployment rate rose to...
Major European bourses edged higher on Thursday, with the STOXX 50 and STOXX 600 both up 0.1%—marking a third straight session of gains and trading near one-month highs. Investors remained focused on economic data, corporate earnings, and geopolitical developments, with Presidents Trump and Putin set to meet tomorrow. Optimism was also supported by expectations that the Fed will deliver a 25 bps cut to the federal funds rate next month. Among megacaps, SAP (+0.1%) and ASML Holding (+0.4%) advanced, while LVMH, Hermès, Nestlé, and Novo Nordisk were little changed. On the earnings front,...
The Nikkei 225 fell 1.45% to close at 42,649, while the broader Topix dropped 1.1% to 3,058 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
Hong Kong shares added 53 points or 0.2% to 25,659 in Thursday's morning session, rising for the fourth day to a three-week high. Sentiment was lifted by record closes for Wall Street's S&P 500 and Nasdaq for the second day overnight, as traders increased bets on a US Fed rate cut next month. Meantime, Treasury Secretary Bessent called for a series of cuts, starting with a 50bps move in September. In China, Beijing pledged interest subsidies for businesses in eight consumer service sectors to boost spending. Further strength, however, was capped by growing caution ahead of July activity...
The Nikkei 225 fell 0.5% toward 43,000, while the broader Topix dropped 0.9% to 3,065 on Thursday, as Japanese stocks pulled back from record highs amid profit taking. The market had rallied earlier in the week after softer US inflation data boosted expectations for a Federal Reserve rate cut next month. A strong earnings season in Japan and an improving global trade outlook also added to bullish sentiment. On the policy front, the Bank of Japan faces mounting pressure to abandon an inflation gauge tied to domestic demand and wage growth that has so far restrained further...
Asian stocks traded in a narrow range at Thursday's open, easing after three days of gains driven by bets on a Federal Reserve interest rate cut next month. The MSCI Asia Pacific Index fell 0.2% as stocks in Japan retreated 1%. The yen gained 0.4% against the dollar. US Treasury Secretary Scott Bessent said the Bank of Japan is falling behind the curve in addressing inflation and expected the central bank to hike rates. Chinese equities will be in focus after the Nasdaq Golden Dragon China Index rose for a second session, helped by earnings...
Stocks in the US closed higher on Wednesday, extending their recent momentum as growing expectations for a Federal Reserve rate cut in September continued to lift sentiment. The S&P 500 gained 0.3% and the Nasdaq added 0.1%, with both indexes briefly hitting record highs, while the Dow Jones advanced 463 points. The rally built on Tuesday's surge, sparked by a softer-than-expected inflation reading that reinforced bets on monetary easing, with traders fully pricing in a September cut and some anticipating a 50 basis-point move. Sector gains were led by materials, healthcare, and...
European stocks closed sharply higher on Wednesday, their highest in two weeks as the outlook of lower interest rates in the United States and the possibility of lower energy prices supported a backdrop of stronger growth in the bloc. The STOXX 50 gained 1% to 5,390 and the STOXX 600 jumped 0.6% to 551. The heavyweight sectors of banks, luxury, and tech were among the largest gainers of the session with Intesa Sanpaolo, LVMH, Kering, SAP, and Prosus jumping between 4% and 1.5%. Healthcare also closed sharply higher following their volatile momentum in the first half of the month, with...
Stocks rose Wednesday, adding to their recent momentum as expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs. The S&P 500 and Nasdaq Composite advanced 0.4% and 0.5%, respectively, reaching fresh record highs. The Dow Jones Industrial Average gained 1250 points, or 0.6%. AMD popped more than 5% to lead gains in tech. Apple also advanced about 1%, along with Oracle. Those moves followed a record-setting session Tuesday sparked by a tamer-than-expected inflation report that gave investors hope of a Fed rate cut in September. Traders...
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....