Hong Kong stocks fell 197 points, or 0.8%, to 26,282 in Friday's morning session, retreating after their biggest one-day gain since mid-August amid caution ahead of China's October trade data. Exports are expected to slow sharply after months of front-loading to avoid U.S. tariffs, while imports likely stay weak amid fragile consumer sentiment. Attention also turned to October Chinese CPI and PPI data due over the weekend, with deflation risks still a concern. On Wall Street, stocks declined overnight as renewed tech weakness and worries over the prolonged U.S. government shutdown hit...
The S&P 500 rose Friday for a fifth session and posted a sharp weekly gain, as investors looked past the release of disappointing consumer sentiment data and persistent inflation worry. The broad market index climbed 0.70% to end at 5,958.38, while the Nasdaq Composite gained 0.52% to close at 19,211.10. The Dow Jones Industrial Average gained 331.99 points, or 0.78%, settling at 42,654.74. Friday's advance put the 30-stock benchmark into positive territory for 2025. For the week, the S&P 500 surged 5.3%, and the Dow gained 3.4%. The Nasdaq Composite jumped 7.2% this week....
The Dow Jones Industrial Average (DJIA) stepped into fresh weekly highs on Friday after investors shrugged off the second-worst print from the University of Michigan's (UoM) Consumer Sentiment Index on record. Market sentiment remains on the high side as traders hope for further clarity on trade from the Trump administration and a continued easing of President Donald Trump's tariff policies. The UoM's Consumer Sentiment Index sank to 50.8 from 52.2 as consumers' outlook for economic activity, income, and employment continues to decline. Investors were hoping for an uptick in consumer...
The European stock markets closed higher in Friday trading as the Stoxx Europe 600 gained 0.28%, Germany's DAX was up 0.12%, the FTSE 100 rose 0.59%, France's CAC 40 increased 0.24%, and the Swiss Market Index advanced 0.61%. In France, the unemployment rate was 7.4% in Q1, up slightly from 7.3% in the previous quarter, according to the national statistics agency. In Italy, the annual inflation rate held steady at 1.9% in April, unchanged from March and slightly below the 2.0% forecast, according to Bloomberg. And in corporate news, Novo Nordisk said Friday that Lars Fruergaard Jorgensen...
US stocks hovered around the flatline on Friday (05/16), with volatility expected during the session as a large number of options expire. Despite the choppy trading, the three major indexes remained on track to post solid weekly gains. Market sentiment improved amid signs of easing trade tensions, as the U.S. and China agreed to temporarily ease tariffs. At the same time, a series of mostly weak economic data has reinforced expectations that the Fed has room to cut interest rates at least twice this year. Housing starts and building permits both came in below estimates, while export and...
The Hang Seng dropped 108 points or 0.5% to end at 23,345 on Friday, down for the second day amid broad-based losses across all sectors. Investors were unsure how policies would evolve when the 90-day trade war truce between Washington and Beijing ends in July. A climb in US futures failed to lift sentiment as traders were on edge ahead of China's key April data next week, including industrial output and retail sales. Meanwhile, the PBoC is set to review its benchmark lending rates, which have stayed at record lows in recent months as the economy faces domestic and external...