The three major averages in the US swung around the flatline on Friday, as traders digest much weaker-than-expected retail sales that raised concerns about the strength of the US consumer spending.
Retail sales declined 0.9% last month and the control sales which is used to calculate GDP declined 0.8%. Consumer spending was likely hit by harsh weather and wildfires in LA.
Meanwhile, President Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs. Investors await further details and remain hopeful that negotiations could avert the levies.
Money markets are now pricing in around 40bps of Fed cuts in 2025. Energy and materials were the top performing sectors while consumer staples booked the biggest loss.
Among megacaps, Nvidia (1.4%), Apple (0.6%) and Tesla (0.6%) were higher while Broadcom sank more than 2.5%. So far on the week, the S&P is up 1.5%, the Dow gained 0.9% and the Nasdaq added 2.2%
Source: Trading Economics
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue climbed 20% in the third quarter and beat estimates...
European stocks edged lower on Friday (October 31st), with the STOXX 50 and STOXX 600 down 0.1%, as corporate earnings remained in focus and investors continued to assess the impact of the recent US-C...
Asia-Pacific markets opened mostly higher on Friday, with Japan's Nikkei 225 rising more than 1% to a new record, as investors reacted positively to the truce between Washington and Beijing following ...
Both the STOXX 50 and STOXX 600 closed 0.2% lower on Thursday as investors weighed central bank actions, corporate earnings, and mixed economic data. The ECB kept rates unchanged for a third consecuti...
Stocks were lower Thursday as investors digested a batch of Big Tech earnings, while a meeting between President Donald Trump and Chinese President Xi Jinping concluded. The Dow Jones Industrial Aver...
The Euro (EUR) weakens further against the US Dollar (USD) on Friday, with EUR/USD slipping to a three-month low. The pair remains under pressure as the Greenback draws support from the Federal Reserve's (Fed) hawkish tone after delivering a widely...
The Nasdaq Composite rose 0.7% and the S&P 500 gained 0.3% on Friday, led by a 10.8% surge in Amazon shares after the company said cloud revenue climbed 20% in the third quarter and beat estimates, lifting tech names broadly. The Dow traded up...
Harga emas terus mengalami penurunan tajam pada hari ini, diperdagangkan di sekitar $3.983. Pergerakan ini terjadi karena beberapa faktor utama yang mempengaruhi pasar. Salah satunya adalah penguatan dolar AS yang terus bertahan di level tinggi....
US President Donald Trump said Thursday that he had agreed with President Xi Jinping to cut tariffs on China in exchange for Beijing cracking down...
The European Central Bank (ECB) announced on Thursday (October 30th) that it kept its key interest rates unchanged after its October policy meeting,...
Asia-Pacific markets opened mostly higher on Friday, with Japan's Nikkei 225 rising more than 1% to a new record, as investors reacted positively to...
Stocks were lower Thursday as investors digested a batch of Big Tech earnings, while a meeting between President Donald Trump and Chinese President...