US stocks moved lower on Friday, with the S&P 500 down 1% and the Nasdaq falling 1.6%, both hitting one-month lows, while the Dow Jones dropped about 400 points. The tech sector remained under heavy pressure as investors grew increasingly concerned about stretched valuations in AI-related stocks and the risk of a bubble. Concerns also mounted that the Fed may hesitate to cut rates next month, after several policymakers expressed skepticism about the need for another reduction. Market odds of a 25 bps cut in December have fallen to just below 50%, down from nearly 65% earlier in the...
The S&P 500 and the Dow Jones Industrial Average ended Wednesday's session near the flatline as the postelection rally lost some steam. Traders also contemplated a key inflation report that was in line with expectations. The S&P 500 inched higher by 0.02% to close at 5,985.38, while the 30-stock Dow ticked up 47.21 points, or 0.11%, to 43,958.19. The blue-chip index added as much as 230 points earlier on Wednesday. The Nasdaq Composite ended the day with a 0.26% decline and closed at 19,230.74. The October consumer price index accelerated a tad to a 2.6% annual rate, matching the...
The Stoxx Europe 600 Index fell for the second day, dropping 0.1%, or 0.64 to 501.59. The index dropped to the lowest closing level since Aug. 12. Infineon Technologies AG contributed the most to the index decline, decreasing 4.7%. Intermediate Capital Group Plc had the largest drop, falling 7.2%. Today, 395 of 600 shares fell, while 192 rose; 15 of 20 sectors were lower, led by technology stocks. Source : Bloomberg
A gauge of global stocks dipped for a second straight session and U.S. Treasury yields were slightly lower in choppy trading as investors digested the latest U.S. inflation data and the path of interest rates from the Federal Reserve. The Labor Department said the consumer price index (CPI) rose 0.2% for the fourth straight month, in-line with expectations of economists polled by Reuters. In the 12 months through October, the CPI advanced 2.6%, also matching forecasts, after climbing 2.4% in September. Treasury yields fell after the data, but reversed course somewhat to once again put...
The Hang Seng Index fell for the fourth day, dropping 0.1%, or 23.43 to 19,823.45 in Hong Kong. The index dropped to the lowest closing level since Sept. 25. Hong Kong Exchanges & Clearing Ltd. contributed the most to the index decline, decreasing 1.0%. WuXi AppTec Co. had the largest drop, falling 4.1%. Today, 52 of 82 shares fell, while 23 rose; all sectors were lower, led by properties stocks. Source : Bloomberg
The Hang Seng fell 23 points or 0.12% to end at 19,823 on Wednesday, closing in the red for the fourth session amid a sharp drop in US futures as concerns built that US President-elect Donald Trump's planned policies might fuel inflation and slow the pace of interest rate cuts. Markets hit their lowest in nearly seven weeks, dragged by the potential appointment of China hawks to key US cabinet positions, which could lead to a tougher stance on trade and tariffs against Beijing. Property and financials mainly retreated, with investors staying vigilant ahead of key US inflation data and...