Wall Street stocks opened mixed on Monday, ahead of the crucial release of US inflation data and the approaching deadline for the interim tariff reduction agreement between Washington and Beijing.
Minutes after trading opened, the Dow Jones Industrial Average rose 0.2% to 44,252.25, while the S&P 500 was flat at 6,388.35. The tech-rich Nasdaq Composite Index weakened 0.2% to 21,403.12.
This movement comes after US employment data for the past three months showed weakness, which is considered a "green light" for the Federal Reserve to cut interest rates to boost the world's largest economy, said Art Hogan of B. Riley Wealth Management.
This year, the Fed has kept interest rates steady while monitoring the impact of President Donald Trump's extensive tariffs on the economy. The US central bank is mandated to maintain price stability and maximize employment, making inflation a key policy focus.
However, Hogan believes the consumer price index (CPI) report due Tuesday "will have to post a very strong increase" to prevent the Fed from cutting interest rates in September, given signs of weakness in the labor market.
The interim US-China deal to reduce tariffs will also expire on Tuesday. Investors are also looking forward to Friday's meeting between US President Donald Trump and Russian President Vladimir Putin in Alaska to try to end the three-year war following Russia's invasion of Ukraine. However, Kyiv is concerned that the deal will force Ukraine to cede territory to Russia.
The invasion of Ukraine "has become a long-standing global obstacle and has completely disrupted the flow of world trade," Hogan told AFP.
Source: Newsmaker.id
US stocks recovered from sharp early losses on Friday (November 14th), but closed flat to lower as investors bought back major technology stocks and reassessed the likelihood of a December interest ra...
US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under he...
Gauges in Japan, South Korea and Australia all opened weaker, even as an index of the region was poised for its third gain in four weeks. The S&P 500 closed 1.7% lower while the Nas...
US stocks plunged on Thursday (November 13), with the S&P 500 falling 1.5%, the Nasdaq 1.9%, and the Dow Jones Industrial Average returning to a record high after a 1.5% decline amid a selloff in ...
Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs reached earlier in the session amid downbeat corporate r...
US stocks recovered from sharp early losses on Friday (November 14th), but closed flat to lower as investors bought back major technology stocks and reassessed the likelihood of a December interest rate cut. This left the S&P 500 and Nasdaq 100...
Oil prices rose more than 2% on Friday (November 14th) as the Russian port of Novorossiisk halted oil exports following a Ukrainian drone attack on an oil depot in the Russian energy hub, sparking supply concerns. Brent crude futures closed up...
Gold prices fell 3% on Friday (November 14th) due to a broader market sell-off, triggered by hawkish remarks from US Federal Reserve officials, which dimmed hopes of a December interest rate cut. Spot gold prices fell 1.9% to $4,092.72 an ounce,...
Fed increasingly fractured over Dec rate cut
Federal Reserve officials are growing increasingly fractured over whether to cut interest rates in...
Both the STOXX 50 and STOXX 600 reversed early gains and closed down 0.6% and 0.8%, respectively, on Thursday, retreating from new record highs...
Asia-Pacific markets mostly rose Thursday, following mixed trading on Wall Street as investors kept an eye on the U.S. government, which appeared...
European equities extended gains for a fourth consecutive session on Thursday, with both the STOXX 50 and the STOXX 600 rising nearly 0.2% to fresh...