Stocks rose on Thursday as Wall Street weighed the latest inflation data, which came in lighter-than-expected.The Dow Jones Industrial Average traded 339 points, or 0.8%. The S&P 500 popped 1.1%, while the Nasdaq Composite advanced 1.5%. Micron Technology jumped 13% after the semiconductor play topped Wall Street estimates on the top and bottom lines for the fiscal first quarter and offered a strong revenue forecast for the current period. Micron helped rekindle the artificial intelligence trade, which has seen weakness in recent sessions. The delayed November consumer price index...
Hong Kong stocks rallied again at the start of trading on Thursday, with the Hang Seng Index rising around 82 points, or 0.3%, to 26,012. This marked the fourth consecutive day of gains, in line with Wall Street's rally, which also saw four consecutive sessions amid growing expectations of a Fed rate cut in December. All sectors on the Hang Seng opened in the green, with technology and property stocks leading the gains. Sentiment was also helped by a rebound in major mainland Chinese stock markets after a brief correction. However, the rally was tempered by the latest data showing that...
The Nikkei 225 Index jumped 1.2% to above 50,100 while the broader Topix Index added 0.7% to 3,380 on Thursday, extending gains from the previous session and taking cues from a strong lead on Wall Street amid bets on further Federal Reserve interest rate cuts. US stocks rallied for a fourth straight session overnight as markets now price in over an 80% chance that the Fed will cut rates by 25 basis points next month and three more by the end of 2026. In Japan, Prime Minister Sanae Takaichi's government is reportedly planning to issue at least 11.5 trillion yen in additional bonds to fund...
Asian markets are projected to strengthen on Thursday, following Wall Street's rally, which has risen four consecutive days ahead of the Thanksgiving holiday. Japanese and mainland Chinese index futures signaled a positive opening, while Australian stocks rose earlier in the session and Hong Kong's were flat. In the US, the S&P 500 rose 0.7% and the Nasdaq 100 gained 0.9%, supported by expectations of an imminent Fed rate cut. Financial markets are now pricing in around an 80% chance of a 25 bps rate cut next month, with three more cuts planned by the end of 2026. The Fed's Beige Book...
Stocks rallied on Wednesday (November 26), pushing the major stock averages to their fourth straight day of gains ahead of the Thanksgiving holiday. The Dow Jones Industrial Average rose 388 points, or 0.8%. The S&P 500 gained 0.9%, while the Nasdaq Composite gained 1%. The overall market rally was driven by artificial intelligence company Oracle, which surged more than 4% after Deutsche Bank reiterated its bullish stance on the company. Nvidia shares rose more than 1%, recovering from recent losses, while fellow "Magnificent Seven" member Microsoft traded more than 2% higher. "This...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe gained 1.06%, Germany's DAX rose 0.98%, the FTSE 100 advanced 0.85%, France's CAC was up 0.88%, and the Swiss Market Index increased 0.40%. The European Central Bank reported in its Financial Stability Review for November that uncertainties around trade agreements," as well as the economic and financial effects of tariffs, "continue to shape the euro area financial stability landscape." The ECB said exposure to tariff-sensitive firms and stronger funding ties with non-banks could strain euro area banks during...