The Dow Jones Industrial Average faced renewed downside pressure on Tuesday, tumbling 680 points from the previous day's close at its lowest before finding a half-hearted technical floor near 46,255. The major equity index has pushed into a fourth consecutive bearish day as investors face headwinds on multiple fronts. US labor data continues to tease around the edges of a steepening downturn after US Initial Jobless Claims came in within familiar territory, rising slightly to 232K from the previous print of 219K. ADP's Employment Change 4-week average improved to -2.5K from the previous...
U.S. stocks traded in narrow ranges Monday as investors awaited news from the renewed trade talks between Washington and Beijing, as well as key inflation data later in the week. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average dropped 45 points, or 0.1%, and the S&P 500 index slipped 3 points, or 0.1%, while the NASDAQ Composite gained 30 points, or 0.2%. The main averages on Wall Street have continued to gain after ending higher on Friday, fueled by a stronger-than-anticipated U.S. labor market reading for May, although risk appetite was rattled by signs of steadily...
US stocks started US trading on a cautious note, with the S&P 500 and Nasdaq fluctuating around the flatline while the Dow Jones fell nearly 100 points. Traders were monitoring talks between the US and China, as officials from both countries met in London today, after Presidents Trump and Xi held a phone call last week and hopes were rekindled that trade tensions could ease. Meanwhile, investors continued to await further signs on how the trade war is impacting the economy, with CPI and PPI due later this week to provide an update on inflationary pressures. Consumer staples and...
The Hang Seng jumped 389 points, or 1.6%, to close at 24,181 on Monday, recovering from losses in the previous session and hitting its highest in nearly three months. The gains were broad-based, driven by optimism ahead of high-level U.S.-China trade talks. The technology sector led the gains, with SMIC and Meituan each up 4.9% while Alibaba rose 2.0%. Rare earth stocks also gained after Beijing approved some export applications, easing concerns about trade tensions. However, weak Chinese economic data limited further gains. May exports grew the slowest in three months, while imports shrank...
Stocks in Europe kicked off the week on a cautious tone, with the STOXX 50 losing about 0.2% and the STOXX 600 swinging around the flatline. Traders eagerly await US-China trade talks due to happen today in London, which marks another tentative step to ease trade tensions between the two countries. Meanwhile, data coming from China was mostly weak, with exports rising slightly less than expected and imports falling way more. On the corporate front, shares of SAP were down about 1%. Source: Trading Economics
Japan stocks were higher after the close on Monday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.88%. The best performers of the session on the Nikkei 225 were Otsuka Holdings Ltd (TYO:4578), which rose 5.27% or 357.00 points to trade at 7,135.00 at the close. Meanwhile, SoftBank Group Corp. (TYO:9984) added 4.98% or 367.00 points to end at 7,730.00 and Advantest Corp. (TYO:6857) was up 4.86% or 385.00 points to 8,314.00 in late trade. The worst performers of the session were M3 Inc (TYO:2413), which fell 4.20%...