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...
Japanese stocks fell after the yen strengthened as much as 1% against the dollar overnight and US technology shares slumped. The Nikkei 225 Stock Average dropped 2% as of 9:12 a.m. in Tokyo, while the broader Topix slipped 1.3%. Exporters such as automakers and technology companies were among the heaviest drags on the Topix. The yen reached a one-week high of 151.79 per dollar, after jumping as much as 1% on Thursday. Bank of Japan Governor Kazuo Ueda said Thursday that currency markets have had a major impact on the economy, pointing to another potential...
Asia-Pacific markets are set for a mixed open on Friday, after Wall Street benchmarks the Nasdaq Composite and the S&P 500 posted their worst day in nearly two months on a downbeat Microsoft earnings forecast and MetaTrader results. Traders await a raft of economic data from the region, including Australia's third-quarter producer price index reading and China's Caixin manufacturing purchasing managers' index for October. Japan's Nikkei 225 appears set for a weaker open, with futures in Chicago at 38,470 and its Osaka counterpart at 38,370 against the index's last close of...