Stocks fell slightly on Tuesday as traders digested the delayed release of the November's jobs report. The S&P 500 fell 0.1%, while the Nasdaq Composite pulled back about 0.2%. The Dow Jones Industrial Average hovered around the flatline. November's jobs report came in better than expected, showing an increase of 64,000 jobs for the month, according to the Bureau of Labor Statistics. Economists surveyed by Dow Jones predicted that nonfarm payrolls would grow by 45,000 in the period. However, the BLS reported that October shed 105,000 jobs. The unemployment rate also increased to 4.6%,...
Asian stocks opened higher on Thursday, following gains in US markets. Positive sentiment stemmed from weak US jobs data, bolstering confidence that the Federal Reserve could cut interest rates at its meeting next week. The MSCI Asia stock index rose around 0.2%, while US stock index futures held steady after the S&P 500 rose 0.3% and the Nasdaq 100 gained 0.2% on Wednesday. In global financial markets, the US dollar index remained flat after previously falling 0.4%. US Treasury yields also fell, with the two-year yield hovering around 3.48% as expectations for an interest rate cut...
Japan's Nikkei index rose 0.7% to 50,211.09, driven primarily by shares of chip and industrial robot manufacturers. Renesas Electronics surged 7.1% and Fanuc rose 5.8%, providing a strong boost to the market, as the technology and robotics sectors are considered important drivers of the Japanese economy going forward. This rise occurred despite signs of a weakening labor market in the United States. Meanwhile, USD/JPY was hovering around 155.15, slightly weaker than its previous close of 155.52. Investors are now focused on Prime Minister Sanae Takaichi's policy moves and Japanese domestic...
US stocks extended their recovery as markets transitioned to looser Fed policy, with the Dow closing 0.9% higher, the S&P 500 gaining 0.4%, and the Nasdaq gaining 0.2%, as financial and defensive sectors outperformed due to a clear reweighting of near-term policy risks. ADP's surprise 32,000 decline in private payrolls pushed the chances of a Fed rate cut closer to certain. Wells Fargo and Citi each rose 3.5% as the prospect of looser policy reduced short-term funding costs and improved loan demand, while UnitedHealth jumped 4.7%. Marvel jumped 7.9% after raising its data center...
European stocks closed mixed on Wednesday (December 3) amid a series of corporate updates, as markets continued to gauge the euro's divergent interest rate outlook against that of the Fed and the ECB. The Eurozone STOXX 50 edged up 0.1% to 5,693, and the broader STOXX 600 gained 0.1% to 576. ECB President Lagarde noted that the bloc's inflation is expected to remain close to target, while Executive Board Member Lane warned of upside risks. Meanwhile, downbeat US jobs data reinforced speculation of a Fed rate cut next week. ASML jumped 2.6% after its ratings were upgraded by Bank of America...
Wall Street's main indexes opened lower on Wednesday, as investors assessed data pointing to a weak jobs market, while Microsoft fell after a report said the tech giant lowered its sales growth targets for certain artificial intelligence products. The Dow Jones Industrial Average fell 102.8 points, or 0.22%, at the open to 47,371.62. The S&P 500 fell 14.1 points, or 0.21%, at the open to 6,815.29, while the Nasdaq Composite dropped 98.1 points, or 0.42%, to 23,315.58 at the opening bell. Source : Reuters