US stocks recovered from sharp early losses on Friday (November 14th), but closed flat to lower as investors bought back major technology stocks and reassessed the likelihood of a December interest rate cut. This left the S&P 500 and Nasdaq 100 largely stagnant, while the Dow Jones Industrial Average closed 280 points lower. Nvidia, Microsoft, Oracle, and Palantir each rose between 1.1% and 2.4%, reversing some of Thursday's sharp declines in tech stocks. Meanwhile, defensive stocks lagged, with United Healthcare down 3.2% and Home Depot down 1.6%. Stock movements remained uneven, with...
The three major US stock indexes fluctuated between small gains and losses on Friday in what could be another volatile session. Consumer staples and energy stocks led the gains, while communication services was the weakest-performing sector. Quarterly results from regional banks helped lift sentiment, with Truist Financial rising 2.4%, and Fifth Third Bancorp climbing 3%. Earlier, futures had tumbled as signs of credit stress among regional lenders reignited concerns over US credit quality. Zions Bancorporation and Western Alliance, at the center of the recent turmoil, rebounded 3.6% and...
The Hang Seng tumbled 641 points, or 2.5%, to close at 25,247 on Friday, extending losses from the prior session and marking its lowest level in six weeks amid broad-based declines. Global sentiment soured after signs of credit stress at U.S. regional banks rattled investors, while renewed trade frictions between Washington and Beijing added pressure. All sectors fell, with tech sliding around 4%, followed by consumer, financial, and property stocks. Khoon Group hit a record low after certain sanctions by government authorities in the U.S. BYD lost 4.3% following its largest vehicle recall...
Both the STOXX 50 and the STOXX 600 fell 1.5% on Friday, tracking a global equity sell-off as signs of credit stress among US regional banks reignited concerns about credit quality and the potential spillover to other sectors. Banking and financial stocks came under heavy pressure, with notable declines in Intermediate Capital (-6.5%), Banco de Sabadell (-7.1%), Deutsche Bank (-6.3%), Barclays (-5.3%), Standard Chartered (-4.2%) and Société Générale (-4.5%). Meanwhile, escalating trade tensions between China and the US further weighed on sentiment. Beijing accused Washington of stoking...
Japanese stocks fell, led by the financial sector, as investors were shaken by revelations of loan problems at two regional US banks that raised concerns about the credit market. The Topix index fell 1% to 3,170.44 at the close of trading in Tokyo.Of the 1,672 stocks in the index, 446 rose and 1,169 fell, while 57 were unchanged. The Nikkei index fell 1.4% to 47,582.15, poised for its first weekly loss in eight weeks."Rather than focusing on specific sectors, it feels like we're seeing limited risk-off sentiment," said Tetsuo Seshimo, portfolio manager at Saison Asset Management. "Small...
Hong Kong stocks continued to weaken. The Hang Seng Index fell 1.3% to 25,555.02 at 10:14 a.m. local time, widening its weekly loss to 2.8%. Hang Seng Tech also fell 2.3%. The biggest pressure came from large caps: BYD Electronics -5.2%, SMIC -4.3%, Alibaba -2.7%, and Tencent -1.1%. In mainland China, the CSI 300 -1.3% and the Shanghai Composite -0.9%. After rallying more than 30% this year, sentiment has turned cautious. All eyes are on Monday's Chinese data releases: third-quarter GDP, retail sales, and industrial production. Economists' consensus forecasts GDP at ~4.7% (y/y), the slowest...