Asia-Pacific markets traded higher, tracking Wall Street gains overnight. Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South Korea's Kospi climbed 0.83%, and the small-cap Kosdaq jumped 0.65%. Australia's benchmark S&P/ASX 200 added 0.41%. Futures for Hong Kong's Hang Seng index stood at 26,464, higher than its last close of 26,086.32. Equities in several parts of the world have been rallying as easing inflation pressures and expectations for U.S. rate cuts boost investor sentiment. "Momentum and the promise of...
The number of Americans filing for unemployment benefits fell to 201K in the week ending Jan. 5, 2025 That was down from the estimate of 214K and the previous weekly reading of 211K, the Labor Department said Wednesday. Source: Newsmaker23
Job openings rose by 259,000 to 8.098 million in November 2024, from an upwardly revised 7.839 million in October and above market expectations of 7.70 million. Job openings rose in professional and business services (+273,000), finance and insurance (+105,000), and private educational services (+38,000) but declined in information (-89,000). Meanwhile, total hires and total layoffs were flat at 5.3 million and 5.1 million, respectively. In layoffs, resignations fell by 218,000 to 3.1 million and layoffs and terminations were flat at 1.8 million. Source: Trading Economics
Economic activity in the US services sector accelerated in December, with the ISM Services PMI rising to 54.1 from 52.1 in November. This reading was higher than the market expectation of 53.3. Other details from the report showed that the Prices Paid Index, a component of inflation, rose to 64.4 from 58.2, while the Employment Index fell to 51.4 from 51.5. Market reaction The US dollar strengthened against other major currencies in an immediate reaction. At the time of writing, the USD Index was up 0.2% on the day at 108.52. Source: FXStreet
The ISM Manufacturing PMI rose 0.9 points from the previous month to 49.3 in December 2024, beating market expectations of 48.4. The reading reflected the slowest pace of contraction in the U.S. manufacturing sector since March's 50.3 reading, the only expansion in the industry since September 2022. A gauge measuring new orders came in at 52.5, reflecting the strongest level of new orders in 11 months, suggesting that lower output for manufacturers may be nearing a bottom despite the Fed's prolonged interest rate tightening. In turn, a gauge measuring the prices faced by businesses rose to...
Global stocks advanced on Thursday after a four-session drop to end 2024, while the dollar strengthened after economic data pointed to a U.S. labor market that remained on solid footing. On Wall Street, U.S. stocks were higher in the early stages of trading, with the S&P 500 on track to snap a four session streak of declines to end 2024. Data from the U.S. Labor Department showed the number of Americans filing new applications for unemployment benefits dropped to an eight-month low of 211,000 last week, below the 222,000 estimate of economists polled by Reuters. Gains were led by the...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
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...
Less than four months ago, President Donald Trump met with Qatar's leader, praised his magnificent palace, and signed a comprehensive defense agreement with the Gulf monarchy, a key ally that hosts...