Gold steadied and was set for a moderate weekly loss as investors assessed the outlook for Federal Reserve rate cuts after resilient US jobs and retail data eased concerns about the economy. Bullion traded below $3,340 an ounce in early Asian hours, heading for a 0.5% drop on the week. That came after data that showed applications for unemployment benefits fell for a fifth straight week to the lowest level since mid-April, and advancing retail sales in June. San Francisco Fed President Mary Daly said she still thinks it's reasonable for policymakers to plan on two interest-rate cuts this...
The European stocks rally took a pause on Wednesday amid mixed earnings and after President Donald Trump's latest tariff threats stoked concern about a widening trade war. The Stoxx 600 Index fluctuated at the open after a gain of around 10% so far this year. Glencore Plc slipped after profit fell, while HSBC Holdings Plc posted better-than-expected earnings. A tech-led advance in Asia stumbled. US equity futures were steady. Trump brandished possible levies of around 25% on automobile, semiconductor and pharmaceutical imports, with an announcement...
The Hang Seng Index fell 0.1% at 22,944.24 in Hong Kong. The move follows the previous session's increase of 1.6%. Meituan contributed the most to the index decline, decreasing 3.0%. Hang Seng Bank Ltd. had the largest drop, falling 3.9%. Today, 38 of 83 shares fell, while 39 rose; 2 of 4 sectors were lower, led by commerce and industry stocks. Source: Bloomberg
European markets saw a mixed open on Wednesday as investors assessed numerous earnings releases and a hotter-than-expected U.K. inflation print. The regional Stoxx 600 index was 0.06% higher in early deals following Tuesday's record close, while sectors and bourses were a mix bag. Dutch healthcare technology group Philips dropped 7% at the open after missing sales growth expectations for the fourth quarter amid a double digit decline in China.Earnings on Wednesday come from BAE Systems,Glencore,Rio Tinto, Koninklijke Philips and Carrefour.Europe's largest lender HSBC earlier on...
Hong Kong equities fell 59 points or 0.3%, to 22,913 in early trade on Wednesday, retreating from the previous session's rally. Sentiment was weighed by a fresh threat from US President Donald Trump to impose 25% tariffs on automobile, semiconductor, and pharmaceutical imports. Additionally, some traders booked profits after the market hit a four-month high in the prior session. Limiting further losses, US futures edged higher following Wall Street's S&P 500 closing at a record high overnight. Meanwhile, China's new home prices fell 5.0% year-on-year in January, the mildest decline in...
The Nikkei 225 Index fell 0.2% to below 39,200 on Wednesday, ending a two-day rally as investors reacted to disappointing economic data. Core machinery orders in Japan, a key indicator of capital spending, unexpectedly dropped in December. Additionally, Japan reported a larger-than-expected trade deficit for January, with import growth outpacing exports. Investors also continued to monitor developments in global trade, as US President Donald Trump plans to impose reciprocal tariffs on countries that tax US imports by April. In corporate news, Honda indicated its willingness to resume merger...
Asia-Pacific stocks were mostly down Wednesday, breaking ranks with Wall Street that saw the S&P 500 close at a record high as investors appeared to look past tariffs and inflation headwinds. Japan's benchmark Nikkei 225 fell 0.62% while the broader Topix index was down 0.59% as the country reported a two-year high trade deficit. Business sentiment for Japanese manufacturers rose for the second month in February, results from the Reuters Tankan poll indicates. The manufacturers' sentiment index rose to plus 3 — its highest level since November — from plus 2 in January. Over in South...
Stocks fell slightly on Tuesday, with the S&P 500 struggling to reach an all-time high set a month ago, as traders weighed headwinds on global trade and inflation. The broad-market index fell 0.01%, while the Nasdaq Composite fell 0.5%. The Dow Jones Industrial Average fell 206 points, or 0.4%. Earlier on Tuesday, the S&P 500 was less than 0.1% from its intraday record. Energy was the best-performing sector in the S&P 500, rising 1.9%. Halliburton and Valero Energy led the gains. Technology stocks also rose slightly. However, a more than 1% decline in consumer and...
European markets closed higher on Tuesday (2/18), hitting another record high, as defense stocks continued to rally on expectations of higher national spending. The pan-European Stoxx 600 closed 0.32% higher at 557.17 points, the latest in a string of records this month. The Stoxx 600 Aerospace and Defense index, which also hit a record high during Monday's session, rose another 1%, with Polish defense equipment maker Lubawa jumping 14% and German defense producer Renk Group gaining 2.7%. Geopolitical tensions were in focus on Tuesday as U.S. officials held talks with Russia to end the...
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....