US stocks soared on Friday after Fed Chair Powell signaled the possibility of a September rate cut during his Jackson Hole speech, sparking the strongest cross-asset rally since April. The S&P 500 and Nasdaq climbed 1.5% and 1.9%, respectively, while the Dow Jones surged 846 points to a record intraday high. Speaking at the Fed's annual Jackson Hole Symposium, Powell noted that the shifting balance of risks in the economy "may warrant adjusting our policy stance," while cautioning that inflation pressures remain. Traders quickly ramped up bets on a 25 bps rate cut in September to...
US stock futures rose slightly on Tuesday (1/7), continuing momentum from strong performances by the S&P 500 and Nasdaq Composite on Monday, which posted a second straight day of gains. driven by a surge in technology stocks. In Monday's regular session, the S&P 500 rose 0.55%, and the Nasdaq gained 1.24%, while the Dow fell 0.06%. The rally was largely driven by a surge in semiconductor stocks after Foxconn reported record revenue and a positive outlook. Nvidia shares jumped 3.4%, hitting a record close, while Micron Technology jumped 10.5%. In other news, Disney revealed plans to...
Asia-Pacific markets were set for gains on Tuesday, following a tech rally on Wall Street that saw the S&P 500 and Nasdaq Composite post back-to-back gains. Global semiconductor stocks, including heavyweight Nvidia, rose after contract electronics giant Foxconn reported record-breaking fourth-quarter earnings. Taiwanese chipmaker Taiwan Semiconductor Manufacturing Company rose to a record high in the session, and may have more room to rise as overnight tech optimism spills over. Japan's Nikkei 225 was set for a rebound after leading losses in Asia, with futures in Chicago at 39,870...
The S&P 500 and the Nasdaq Composite rose on Monday, boosted by a rally in semiconductor stocks and a report that suggested the incoming Trump administration could adopt a less aggressive tariff stance than expected. According to preliminary data, the S&P 500 (.SPX), gained 32.96 points, or 0.56%, to end at 5,975.98 points, while the Nasdaq Composite(.IXIC), gained 243.30 points, or 1.24%, to 19,864.98. The Dow Jones Industrial Average (.DJI), fell 22.40 points, or 0.05%, to 42,709.73. Most of the 11 S&P 500 sectors ended lower, but communication services (.SPLRCL), and...
European markets closed higher on Monday afternoon, having fallen from earlier highs after U.S. President-elect Donald Trump dismissed a media report that his tariff plan may not be as extreme as feared. The regional Stoxx 600 index ended up 0.94%, as the autos sector lost some momentum, closing 3% higher from an earlier gain of nearly 5%. The Washington Post on Monday reported that Trump's team is considering a plan to impose tariffs on all countries, but only on "critical imports." What might be covered was not specified in the story, but Germany's Daimler Truck and Italian-American...
Stocks rose on Monday, recovering from last week's losses as chipmakers surged. The Dow Jones Industrial Average traded 79 points higher, or 0.2%. The S&P 500 gained 0.8%, and the Nasdaq Composite gained 1.3%. Chip stocks led the gains after Foxconn reported record fourth-quarter revenue. Nvidia and Broadcom rose more than 3.2% and 2.9%, respectively, while Micron Technology gained 9%. Market sentiment was also helped Monday by a Washington Post report that said President-elect Donald Trump's tariff plan would be narrower than anticipated. The report said the levies would only cover...