European stocks closed slightly lower on Tuesday after reaching record peaks on the previous session on mixed earnings results, while markets continued to assess the outlook on global trade and European rates. The STOXX 50 inched down by 5,701 and the STOXX 600 lost 03% to 576. Pharmaceutical companies led the losses in the session with a 4.3% slump for Novartis after the Swiss giant posted softer earnings than expected. Roche and Novo Nordisk both fell 2.5% In the meantime, BNP Paribas fell 3.5%, also on an earnings miss. On the other hand, HSBC jumped 4.4% after raising its 2025...
The S&P 500 and Nasdaq 100 extended record closes on Monday, rising 0.4% and 0.8%, fueled by AI-related dealmaking that boosted investor sentiment despite the US government shutdown entering its second week. The Dow Jones slipped 65 points, dragged down by Home Depot and Verizon. AMD surged 23.7% after announcing a multiyear deal to supply AI chips to OpenAI, with an option for the company to acquire up to 10% of AMD, fueling optimism for broader M&A activity. Comerica jumped 13.7% following a $10.9 billion all-stock acquisition agreement with Fifth Third Bancorp. Investors largely...
The S&P 500 and Nasdaq Composite closed at record highs on Monday, spurred by optimism about increased mergers and acquisitions activity after two major deals were announced. The broad market S&P 500 gained 0.36% to end the day at 6,740.28, while the tech-heavy Nasdaq advanced 0.71% to finish at 22,941.67. The Dow Jones Industrial Average, however, fell 63.31 points, or 0.14%, to close at 46,694.97, weighed down by a decline in shares of Sherwin-Williams and Home Depot. The S&P 500 and Nasdaq saw a boost from AMD jumping almost 24% after the company reached a deal with Sam...
Euro Area Stock MarketEuropean stocks closed mostly lower on Monday as fresh political turmoil in France rekindled concerns of fiscal instability among the Eurozone's largest economies. The Eurozone's STOXX 50 dropped 0.3% to 5,633 and the pan-European STOXX 50 closed flat at 571. Markets were rattled by the resignation of Prime Minister Lecornu as the French parliament remained against spending cuts in the country's budget, just weeks after taking office and a day after President Macron unveiled a new government. French banks and insurers fell sharply as the slide for OATs pressured their...
US stocks were higher on Monday, with the S&P 500 up 0.3%, the Nasdaq gaining 0.5%, and the Dow Jones rising roughly 60 points, as AI-related partnerships continued to support investor sentiment. AMD shares soared more than 30% after the company reached a deal for OpenAI to deploy 6 gigawatts of AMD GPUs over multiple years, with AMD also issuing OpenAI a warrant for up to 160 million shares. Utilities, industrials, and tech were the top performing sectors while consumer staples and real estate lagged. Mega-cap stocks were mixed, with Microsoft (+0.8%), Alphabet (+0.8%), and Tesla...
The Hang Seng fell for the second straight session on Monday, dropping 183 points or 0.7% to finish at 26,958. Trading was subdued due to a cautious mood ahead of a local break in Hong Kong on Tuesday, while mainland markets were still closed for the Golden Week. Sentiment was also weighed by political risks in Europe, following reports of the French Prime Minister's abrupt resignation. The decline was broad-based, led by the tech and consumer sectors, which each dipped around 1%. Notable losers included Galaxy Ent. (-3.1%), Techtronic Inds. (-2.8%), and Trip.com (-2.3%). EV stocks also...