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 Hang Seng soared 444 points or 2.3% to close at 19,603 on Wednesday, gaining for the second day amid mounting optimism about potential supportive policies from China to counter tariff risks. Traders showed increased confidence that the PBoC may further cut RRR in December to spur economic recovery in China, after two reductions totaling 100bps in September and February. A positive lead from Wall Street Tuesday also enhanced risk appetite, ahead of the US PCE index and indications of further interest rate cuts as Fed officials seemed comfortable with the pace of inflation. Meanwhile,...
Japan stocks were lower after the close on Wednesday, as losses in the Shipbuilding, Paper & Pulp and Chemical, Petroleum & Plastic sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.78%. The best performers of the session on the Nikkei 225 were Keisei Electric Railway Co., Ltd. (TYO:9009), which rose 5.02% or 222.00 points to trade at 4,641.00 at the close. Meanwhile, Resonac Holdings Corp (TYO:4004) added 4.08% or 163.00 points to end at 4,155.00 and Kansai Electric Power Co Inc (TYO:9503) was up 3.89% or 71.50 points to 1,907.50 in late trade. The worst...
European equity markets were poised for a subdued open on Wednesday, amid concerns that US President-elect Donald Trump could target European countries with tariffs following his recent threats against China, Mexico, and Canada. Investors were also cautious ahead of a key US inflation report that could influence the Federal Reserve's plans for rate cuts. Meanwhile, market participants will be focused on the latest consumer confidence data from Germany and France, as well as EasyJet's earnings report. In premarket trading, Euro Stoxx 50 futures dropped 0.15%, while Stoxx 600 futures were...
Shares in Hong Kong rose 100 points or 0.5% to 19,260 in early trade on Wednesday following a muted session the day before, mainly supported by gains in property, tech, and consumers. An upbeat session on Wall Street overnight uplifted sentiment, with the Fed's latest minutes being interpreted dovishly ahead of the October PCE index release. Investors were also hopeful that the PBoC would further lower commercial banks' RRR in December to bolster economic recovery in China, following two reductions totaling 100bps in September and February. Limiting the rise was fresh data showing a...
The Nikkei 225 Index dropped 0.5% to below 38,300, while the broader Topix Index lost 0.4% to 2,678 on Wednesday, extending losses from the previous session as the yen continued to strengthen amid speculation that the Bank of Japan may raise interest rates again next month. A stronger yen dampens the profit outlook for Japan's export-driven industries and makes Japanese assets more expensive for foreign investors. Traders are also awaiting the latest Tokyo inflation data, which is seen as a leading indicator for nationwide price trends. Export-heavy auto and consumer stocks led the decline,...