US stocks closed mixed on Tuesday (July 22nd), as the S&P 500 hit a new record, rising nearly 0.1%, the Dow Jones Industrial Average rose 170 points, and the Nasdaq 100 fell 0.5% ahead of key earnings reports from Alphabet and Tesla. Chip stocks weighed on the Nasdaq, with Nvidia down 2.4% and Broadcom down 3.3% following reports that SoftBank and OpenAI's massive AI project was stalled. Shares of Lockheed Martin (-10.8%) and Philip Morris (-8.2%) fell sharply after disappointing results. General Motors (-8%) also warned of a deeper impact on profits related to tariffs after a 32%...
The pan-European Stoxx 600index ended up 0.45%, having slightly pulling back from earlier gains. Banking stocks led the pack, up 0.98%, while household goods were a rare outlier, down 0.67%. France's CAC 40 index rose 0.51%, rebounding from a decline Wednesday even as the country's risk premium drew level with Greece's for the first time amid ongoing political turmoil.Shares of British insurance firm Direct Line jumped 42%, hitting their highest level since early 2023, after it said a takeover offer from rival Aviva "substantially undervalued" the company. The stock ended the day 41%...
The Hang Seng tumbled 236 points or 1.2% to end at 19,367 on Thursday, marking the first decline in three sessions amid escalating trade disputes between China and the US. The Biden administration reportedly may introduce fresh curbs on sales of semiconductor equipment and AI memory chips to China next week. Meanwhile, US President-elect Trump's trade policies and their potential impacts remain uncertain, with China's state media warning of possibly severe repercussions. In business news, media reports said BYD Co. and other Chinese automakers urged suppliers to cut prices, signaling...
The Nikkei 225 Index rose 0.56% to close 38,349 while the broader Topix Index jumped 0.82% to 2,687 on Thursday, with Japanese shares ending a two-day decline as risk sentiment improved, while investors took advantage of lower valuations. However, caution persisted as the yen surged to its highest levels in over five weeks on Wednesday, driven by speculation that the Bank of Japan may raise interest rates again as soon as next month. Markets are now assigning a 60% chance of a 25 basis point rate hike in Japan in December, up from around 50% a week ago. Investors are also closely watching...
European markets are expected to open higher Thursday, rallying after being in the doldrums yesterday. The U.K.'s FTSE 100 index is expected to open 16 points higher at 8,291, Germany's DAX up 72 points at 19,334, France's CAC up 30 points at 7.173 and Italy's FTSE MIB up 98 points at 33,310, according to data from IG. There are no major earnings Thursday, but data releases include Spanish and German inflation and European economic sentiment figures. Italian and Spanish business confidence data is also due. It'll be a quieter day globally with U.S. markets...
Hong Kong's equities plunged 198 points or 1.0% to 19,405 on Thursday morning deals, ending gains in the previous two sessions amid declines in all sectors, especially consumers, tech, and financials. Sentiment was downbeat following overnight losses on Wall Street, driven by a pullback in major US tech stocks ahead of the Thanksgiving holiday. Meanwhile, concerns over trade disputes between China and the US administration were heightened as the Biden administration reportedly considered imposing additional restrictions on the sales of semiconductor equipment and AI memory chips to...