The S&P 500 and Nasdaq 100 closed at new record highs on Thursday (July 24), up 0.1% and 0.2%, respectively. This was supported by Alphabet's strong earnings, which bolstered investor confidence in AI investments. Alphabet shares rose 1% after the company beat second-quarter expectations and raised its 2025 capital spending forecast by $10 billion, lifting shares of other tech giants like Microsoft, Nvidia, and Amazon. Tesla fell 7.9% after CEO Elon Musk warned of challenging quarters ahead. The Dow Jones Industrial Average weakened, dropping 270 points, pressured by an 8% drop in IBM...
The Hang Seng surged 573 points or 2.8% to close at its highest in nearly two months of 20,790 on Tuesday, as traders shrugged off news of reciprocal tariffs between China and the US. As Washington's new tariffs took effect, Beijing moved with levies of 15% on US coal and LNG and 10% on crude oil, farm equipment, and certain autos, set to begin on Feb. 10, China's finance ministry said. In addition, Chinese regulators launched a probe into Google over alleged anti-monopoly practices. Sentiment was further lifted by the resumption of mainland trading Wednesday after a week-long Lunar...
European stocks are heading for a higher open Tuesday as global markets breathe a sigh of relief after U.S. President Donald Trump paused planned tariffs on goods from Canada and Mexico. Global markets slumped on Monday as investors reacted to Trump's decision to impose trade tariffs on Canada, Mexico and China, and threatened to introduce levies on goods from the European Union and U.K. The pan-European Stoxx 600 traded lower throughout Monday's session with all sectors firmly in negative territory. Carmakers, tech and industrial stocks were the worst performers. Market sentiment was...
Japanese stocks rose after the close on Tuesday (2/4), as gains in the Communications, Transportation and Marine Transport sectors boosted shares. At the close in Tokyo, the Nikkei 225 was up 0.61%. The best performers on the Nikkei 225 were Sumitomo Dainippon Pharma Co Ltd (TYO:4506), which rose 9.72% or 69.00 points to trade at 779.00 at the close. Meanwhile, Sumitomo Electric Industries Ltd. (TYO:5802) rose 8.04% or 224.00 points to close at 3,009.00 and Kyocera Corp. (TYO:6971) gained 7.44% or 117.50 points to 1,696.00 at the close. The worst performers on the session were Mitsubishi...
Hong Kong's stocks surged 460 points or 2.3% to a near 8-week high of 20,674 during the Tuesday morning session, following a muted close the prior day. The surge was boosted by a rise in US futures after President Trump and leaders of Canada and Mexico reached a deal to put tariffs on hold for a month. Meanwhile, China is preparing to complain to the World Trade Organization to avoid tariff hikes and tech curbs imposed by the Trump administration. Locally, the city's economy grew by 2.4% yoy in Q4 2024, accelerating from a 1.9% rise in Q3 and slightly surpassing forecasts of 2.3%. Gains...
The Nikkei 225 Index surged 1.6% to around 39,150, while the broader Topix Index rose 1.4% to 2,757 on Tuesday, recouping some of the losses from the previous session. This bounce followed U.S. President Donald Trump's decision to pause tariffs on Mexico and Canada after discussions with their respective leaders. However, the U.S. is still expected to implement the proposed 10% levy on imports from China, continuing the trade policies seen during Trump's first term. In Japan, investors are focusing on Wednesday's release of the latest wage figures, which could influence the outlook for the...