The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
Japanese stocks rose after a decline in US consumer spending spurred expectations of a possible rate cut and improved investor sentiment as the S&P 500 Index reached a new high. The Topix Index rose 0.9% to 2,865.00 as of 9:33 a.m. Tokyo time, while the Nikkei advanced 1.4% to 40,719.74. SoftBank Group Corp. contributed the most to the Topix Index gain, increasing 5.2%. Out of 1,681 stocks in the index, 1,292 rose and 317 fell, while 72 were unchanged. Exporters such as machinery and precision instruments gained. Domestic demand-related shares such...
Asia-Pacific markets rose Monday as investors parsed a slew of data points, including South Korea and Japan's industrial output figures for May and China's purchasing managers' index readings for June. Japan's benchmark Nikkei 225 climbed 1.13% in early trade, while the broader Topix index advanced 0.77%. In South Korea, the Kospi index added 0.63%, while the small-cap Kosdaq was flat. Over in Australia, the S&P/ASX 200 started the day 0.3% higher. Futures for Hong Kong's Hang Seng index stood at 24,182, pointing to a weaker open compared to the HSI's last close of...
US stocks closed at record highs on Friday driven by optimism over pending trade agreements and rising expectations for interest rate cuts, as investors looked past President Donald Trump's comments about halting trade talks with Canada. The S&P 500 gained 0.5%, closing above its February peak, while the Nasdaq 100 also advanced 0.5% to a new high. The Dow Jones rose by 432 points. Earlier in the day, markets surged on encouraging news of trade progress with key partners, including a framework agreement with China. Although Trump's unexpected remarks on Canada briefly dented sentiment,...
European stocks posted their biggest weekly gain since mid-May on optimism that the European Union and the US can clinch some form of trade agreement in the coming weeks. The Stoxx Europe 600 Index rose 1.1% by the close, with automakers and consumer products stocks outperforming. It advanced 1.3% for the week, the most in six weeks. Sportswear companies Adidas AG and Puma SE rose after US peer Nike Inc.'s fourth-quarter revenue beat expectations and it said a yearlong sales decline is starting to ease. Bloomberg reported that European Commission President Ursula von...
US stocks reached new peaks on Friday as optimism of relaxed trade policy and confidence about rate cuts by the Federal Reserve outweighed pessimistic economic data. The S&P 500 and the Nasdaq 100 inched 0.3% higher to a new record while the Dow gained 200 points. Commerce Secretary Lutnick stated that the US reached a trade agreement with China, consolidating the relief of lower tariffs and preventing rare earth shortages. Officials also hinted at progress in trade deals with ten other countries, suggesting that the White House grew some aversion to trade barriers. In turn, the...