Initial jobless claims in the US rose by 7,000 from the previous week to 226,000 in the last week of July, firmly above market expectations of a softer increase to 221,000. In turn, outstanding jobless claims soared by 38,000 to 1,974,000 on the previous week, well above market expectations of 1,950,000 to mark the highest level of unemployment since November 2021. The results consolidated the view of a sharp slowdown in hiring and a softening labor market. Source: Trading Economics
Wall Street opened a touch lower on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials. The Dow Jones Industrial Average fell 12.4 points, or 0.03%, at the open to 44769.58. The S&P 500 fell 4.2 points, or 0.07%, at the open to 6042.97, while the Nasdaq Composite dropped 39.6 points, or 0.20%, to 19364.343 at the opening bell. Source: Reuters
The Hang Seng jumped 196 points, or 1.0%, to close at 19,746 on Tuesday, recovering from morning losses after China's central bank pledged to adopt supportive policies next year and ease financing costs for businesses and households. Governor Pan Gongsheng also said he intends to continue reforming the PBoC's monetary policy framework and expand its policy tools. The index closed higher for a third straight session, with positive sentiment buoyed by a Bloomberg News report that China's top leaders are scheduled to begin their annual closed-door Central Economic Work Conference next...
European markets opened higher on Tuesday, December 3, with investors keeping an eye on political turmoil in France. The pan-European STOXX 600 index opened 0.17% higher, with most sectors in positive territory except chemicals, insurance and telecoms. French financial markets were closely watched on Tuesday after Prime Minister Michel Barnier used special constitutional powers to push through a disputed budget bill without a parliamentary vote. Opposition parties on both the left and right have said they will support a motion of no confidence to bring down Barnier's minority government....
The S&P 500 and Nasdaq 100 closed at record highs to kick off December trading, gaining 0.2% and 1.1%, respectively, driven by large-cap tech stocks, while the Dow Jones slipped 128 points. Leading sectors included communication services, consumer discretionary, and technology, while real estate lagged. Tesla rose 3.4% after unveiling an update to its "Full Self-Driving" software, Super Micro Computer surged 28.7% following the validation of its financial reports, and Amazon gained 1.4% amid strong Cyber Monday momentum. Investors are closely monitoring upcoming economic data,...
European stocks closed higher on Monday, with the Stoxx 50 rising 1% and the broader Stoxx 600 gaining 0.5%, driven by strong performances from major corporates. Novo Nordisk climbed 1.9%, LVMH gained 2.6%, SAP rose 1.8%, ASML Holding advanced 1%, and Hermes International surged 4.5%. However, Stellantis shares dropped 6.3% following CEO Carlos Tavares' resignation, citing differences with the board amid struggles in the US market. Investor sentiment was clouded by political uncertainty in France, with ongoing budget tensions raising concerns about a potential no-confidence vote. Economic...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Switzerland's government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a...