US equities fell on Wednesday as skepticism on grounds for future AI returns pressured tech companies, while markets assessed earnings from retailers and FOMC minutes. The S&P 500 and the Nasdaq 100 lost 0.5% and 1%, respectively, while the Dow was slightly lower.
Magnificent 7 companies fell further for a second session, coinciding with research noting that most AI firms will not be profitable. Nvidia, Meta, and Alphabet were over 1% down. In turn, retail earnings were mixed. Target slumped 10% as it revealed a new CEO, despite beating earnings, while Estee Lauder lost 4% on a pessimistic guidance. On the other hand, TJX and Lowe's added 7% and 3% after releasing results.
Walmart reports tomorrow. Minutes from the FOMC mostly agreed that inflation risks outweighed the employment risks, and that the impact from tariffs from the US government may lag the policy implementation. The meeting took place before the aggressive revisions to payroll aggregates and week ISM PMIs.
Source: Trading Economi
Asian stock markets continued their rally for a third day, tracking gains on Wall Street. Indexes in Japan, South Korea, and Australia opened higher after the S&P 500 rose 0.9% and the Nasdaq 100 ...
The Dow Jones Industrial Average closed higher on Tuesday (November 25th) after posting another rally, as traders weighed expectations for a Federal Reserve interest rate cut and the state of artifici...
European stocks advanced on Tuesday as regional markets cemented their positive start to the week. The pan-European Stoxx 600 closed the session preliminarily 0.9% higher, with most major bourses and...
Stocks in Europe edged higher on Tuesday, with both the STOXX 50 and the STOXX 600 gaining nearly 0.2%, extending the modest advance from the previous session. Rising expectations of a Fed rate cut ne...
Asian stocks rallied, following Wall Street's gains, buoyed by confidence that the Federal Reserve could cut interest rates in December and a rebound in technology stocks. Japanese and South Korean st...
Gold (XAU/USD) maintained its intraday gains, nearing a one-and-a-half-week high reached in the Asian session, supported by dovish expectations from the Fed. The latest US data showed inflation is starting to ease, while comments from several Fed...
Silver prices (XAG/USD) continued their three-day rally, approaching US$52.00 per troy ounce during Wednesday's Asian session. This strengthening occurred as US bond yields weakened, with the 10-year US Treasury yield holding around 4.00% after...
The Australian dollar strengthened to around US$0.65 on Wednesday, hitting a one-week high. This strengthening occurred after higher-than-expected inflation data came out, further convincing the market that the Reserve Bank of Australia (RBA) will...
European shares ended higher on Monday, boosted by technology-focused stocks as risk sentiment improved on growing expectations of a U.S. interest...
Asia-Pacific markets started the week with gains after New York Fed President John Williams signaled that a third interest rate cut is still...
U.S. President Donald Trump said fiscal revenue from his trade tariffs is set to "skyrocket" in the coming months as inventory levels among local...
European stocks recovered in afternoon trading and closed slightly higher on Monday (November 24th), paring losses from the previous week thanks to...