The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
Shares in Hong Kong fell 105 points or 0.4% to 23,717 on Thursday morning session, snapping gains in the prior two sessions following a tumble on Wall Street overnight as concerns mounted that a new budget bill in the U.S. would put more stress on an already large deficit. Markets retreated from their nearly two-month highs, hit the previous day, as broad-based losses across all sectors particularly property, consumer, and tech weighed on sentiment. Limiting further falls were upbeat notes from UBS highlighting a sharp revival in Hong Kong's IPO market in 2025, with year-to-date proceeds...
The Nikkei 225 Index dropped 0.8% to around 37,000 while the broader Topix Index lost 0.5% to 2,720 on Thursday, with Japanese shares hitting a two-week low and tracking a sharp selloff on Wall Street overnight. US stocks sold off on Wednesday as Treasury yields surged on concerns that a new US bill could further inflate the federal deficit. In domestic developments, Japan's core machinery orders a key leading indicator of capital investment unexpectedly surged 13% in March, far outpacing expectations for a 1.6% decline. Despite the upbeat data, sentiment was weighed down by weak economic...
Asia-Pacific markets fell on Thursday, tracking declines on Wall Street as investor sentiment soured on fears that a new U.S. budget bill would put even more stress on the country's ballooning debt. Japan's benchmark Nikkei 225 fell 1.06% at the open, while the Topix lost 0.85%. South Korea's Kospi slipped 0.59% and the small-cap Kosdaq declined 0.69%. Australia's benchmark S&P/ASX 200 fell 0.36%. Hong Kong's Hang Seng index slipped 0.24% in the open while mainland China's CSI 300 fell 0.14%.Investors will be looking out for the unveiling of New Zealand's 2025 budget. Stock futures...
U.S. stocks plunged on Wednesday as a surge in Treasury yields and fresh fiscal concerns weighed on investor sentiment. The S&P 500 and Nasdaq fell 1.6% and 1.3%, respectively, while the Dow Jones Industrial Average dropped 817 points. Long-term bond yields jumped after a weak auction of $16 billion in 20-year Treasury notes, with the 30-year yield jumping to around 5.08%, its highest since 2023 amid growing concerns that a tax and spending bill in Washington could further widen the federal deficit. Retail earnings added to the jitters: Target (-5.2%) missed estimates, cut its outlook...
European stocks closed flat on Wednesday to hold a near two-month high hit in the previous session, as a lack of fresh catalysts maintained the prospect that higher government spending in Europe would boost investment among corporate giants. The STOXX 50 closed flat at 5,455 and the pan-European STOXX 600 was flat at 554. Technology stocks led gains in the session, with Infineon jumping 2.5% after announcing a collaboration with Nvidia to develop a new power delivery architecture for data centers. Deutsche Telekom, Nokia, ASML and technology holding company Prosus also closed higher. On...