Wall Street's main indexes advanced on Thursday, lifted by hopes that technology giants might dodge President Donald Trump's newest tariffs on chip imports. Apple's (AAPL.O), opens new tab shares climbed 2.4%, having risen 5.1% and led gains on Wall Street in the prior session, after Trump said the iPhone maker will invest an additional $100 billion in the U.S., bringing its total commitment to $600 billion over the next four years. Trump also announced a tariff of about 100% on imports of semiconductors but said it would not apply to companies that are manufacturing in the U.S. or have...
The S&P 500 was trading in the green on Thursday after some solid housing data eased some concerns about the U.S. economy sliding into recession. The broad market index rose 0.5%, and the Nasdaq Composite gained 0.7%. The tech-heavy index's gains were supported by gains in large-cap tech stocks such as Meta Platforms and Amazon, which rose about 4% and more than 1%, respectively. The Dow Jones Industrial Average was trading 217 points higher, or 0.5%. New economic data released Thursday suggested that economic concerns may have been overblown. Data from the National Association of...
The Hang Seng plunged 551 points, or 2.2%, to close at 24,220 on Thursday, ending a two-session winning streak amid broad-based losses. The index fell from a three-year peak as traders took profits. Modest gains in US futures failed to lift sentiment after Beijing's latest plan to boost consumption and stabilize stock and real estate markets lacked clarity on timing and scale. Concerns also grew after Fitch Ratings warned that higher US tariffs, including a projected effective rate of 35% on Chinese goods, could shave 1 ppt off China's GDP by 2026. Fitch also forecast global growth to slow...
European markets were mixed at the open on Thursday, as investors awaited monetary policy announcements from the Bank of England, the Swiss National Bank and Sweden's Riksbank. The regional Stoxx 600 was near the flatline in early trade. The index has closed higher for the past four sessions, recovering from a 1.22% loss last week. Germany's DAX gave up gains on Wednesday as investors appeared to "buy the rumor, sell the fact" after lawmakers voted to allow exemptions to its debt rules, unlocking hundreds of billions in defense, infrastructure and climate spending. The potential reforms...
Stocks rallied on Wednesday, with the S&P 500 clawing back more of the rout since late February that took the benchmark briefly into correction territory, as the Federal Reserve forecast it would still cut interest rates two times in 2025. The Dow Jones Industrial Average climbed 383.32 points, or 0.92%, and closed at 41,964.63. The S&P 500 jumped 1.08% to end at 5,675.29, and the Nasdaq Composite advanced 1.41% to settle at 17,750.79. The central bank kept the federal funds rate at a range of 4.25% to 4.5%, a decision that was widely expected. That said, the Fed kept its outlook...
The Federal Reserve in a closely watched decision Wednesday held the line on benchmark interest rates though still indicated that reductions are likely later in the year. Faced with pressing concerns over the impact tariffs will have on a slowing economy, the rate-setting Federal Open Market Committee kept its key borrowing rate targeted in a range between 4.25%-4.5%, where it has been since December. Markets had been pricing in virtually zero chance of a move at this week's two-day policy meeting. Along with the decision, officials updated their rate and economic projections for this year...