US equities ended lower on Tuesday as investors grappled with downbeat economic data, rising trade tensions, and mixed corporate earnings. The S&P 500 dropped 0.5%, the Nasdaq slid 0.7%, and the Dow slipped by 62 points, following Monday's sharp rebound from Friday's losses tied to a disappointing jobs report.
Concerns about stagflation resurfaced after the ISM Services index showed activity had stalled in July. Meanwhile, President Trump's threats of steep tariffs up to 250% on pharmaceutical imports alongside potential levies on semiconductors, added to market unease amid ongoing trade uncertainty with India, Switzerland, and China.
Sector-wise, utilities and tech dragged the most, while materials showed relative strength. On the earnings front, Palantir rallied 7.8% after raising its revenue forecast and Pfizer gained 5.2% following a strong quarterly report. In turn, Vertex Pharmaceuticals plunged 20.6% after scrapping late-stage trials for its next-gen pain drug.
Source: Fxstreet
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also considering President Trump's new wave of tariffs and weake...
European stocks closed sharply higher on Friday, recovering from losses in the previous two sessions, as markets reassessed the impact of new US tariffs and how major European companies should navigat...
Major European bourses traded slightly higher on Friday, with the STOXX 50 up 0.4% and the STOXX 600 gaining around 0.3%, after two straight sessions of losses. However, upside momentum was capped by...
Asia-Pacific markets fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical products. Starting from Oct. 1, kitchen cabinets, bathroom van...
US stocks weakened for a third session on Thursday, as investors weighed strong economic data against expectations of future Fed rate cuts. The S&P 500 and Nasdaq 100 each fell 0.5%, the Dow Jones...
US stocks closed higher on Friday (September 26th), as investors reacted positively to an inflation report that met expectations, while also considering President Trump's new wave of tariffs and weakening consumer sentiment. The S&P 500 rose...
Oil prices rose on Friday as Ukrainian drone attacks on Russian energy infrastructure cut the country's fuel exports. Brent crude futures closed at $70.13 per barrel, up 71 cents, or 1.02%. U.S. West Texas Intermediate (WTI) crude closed at $65.72...
Gold strengthened on Friday (September 26th) after US inflation data matched expectations, bolstering speculation that the Federal Reserve will continue interest rate cuts later this year. Spot gold rose 0.8% to $3,778.62 an ounce at 1:30 p.m. EDT...
Annual inflation in the United States (US), as measured by the change in the Personal Consumption Expenditures (PCE) Price Index, edged higher to...
China would purchase U.S. soybeans if the United States removes what it calls "unreasonable tariffs" and creates conditions to support bilateral...
Asia-Pacific markets fell Friday after U.S. President Donald Trump announced fresh tariffs on furniture, heavy trucks and pharmaceutical...
US stocks weakened for a third session on Thursday, as investors weighed strong economic data against expectations of future Fed rate cuts. The...