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 Nikkei index rose 0.6% to 47,131.16, boosted by expectations of a Fed interest rate cut. Fed Chairman Jerome Powell hinted at the possibility of a 25-bps interest rate cut later this month, which Commerzbank research found was enough to trigger buying. Among the top gainers, Modec jumped 6.1%, Sanrio rose 4.7%, and Aeon also rose 4.7%. The gains were spread across several sectors, indicating broad market sentiment, not limited to specific stocks. Conversely, Asahi Group Holdings fell 1.1% after delaying the release of its third-quarter financial results due to the impact of a...
Asian stocks opened higher, boosting expectations of a Fed interest rate cut, amid renewed concerns about US–China trade tensions. Australia was in the green early in the session, while Japanese and Hong Kong futures signaled gains. Jerome Powell's comments on a weakening job market further strengthened the case for an October rate cut, although Wall Street faltered after President Donald Trump suggested he could halt the "cooking oil" trade with China. In other asset markets, the dollar weakened, oil stabilized near a five-month low, and gold was flat after a three-day rally. Silver...
Wall Street experienced a volatile session on Tuesday (October 14th) as investors weighed mostly positive bank earnings, Federal Reserve comments, and ongoing US-China trade tensions. The S&P 500 failed to sustain its rebound and closed down 0.2%, while the Nasdaq fell 0.8%, pressured by tech companies like Nvidia, while the Dow Jones Industrial Average rose 203 points. Major banks, including Citigroup (+3.9%), Wells Fargo (+7.1%), JPMorgan (-1.9%), and Goldman Sachs (-2%), delivered better-than-expected results, supporting the financial sector, although some top performers declined...
European stocks fell on Tuesday (October 14th), with the Stoxx 50 and Stoxx 600 both down around 0.3%, as escalating US-China trade tensions weighed on sentiment. Risk-sensitive sectors such as automotive and mining led the decline after Beijing imposed sanctions on the US units of a South Korean shipping company and warned of further retaliation, raising concerns of new trade disruptions. Defensive sectors, including telecommunications, real estate, and utilities, outperformed as investors sought safe havens. Among the stocks that moved, Michelin plunged 8.9% after the tire maker issued a...
Stocks fell Tuesday, resuming the selling seen late last week, as trade worries were reignited overnight by China. The Dow Jones Industrial Average lost 504 points, or 1.1%. The S&P 500 lost 1.3%, while the Nasdaq Composite shed nearly 2%. The selling was led by the AI shares that have driven the bull market, but also were the biggest losers during Friday's rout. Nvidia lost more than 3%. Tesla and Oracle lost 2.5% and 1.4%, respectively. China imposed sanctions on five of South Korea's Hanwha Ocean's U.S. subsidiaries. This will forbid organizations and individuals in China from...