European stocks were on Thursday, with the STOXX 50 up 1% and the STOXX 600 gaining 0.6%, extending the previous session's rally that drove both benchmarks to fresh record closes. Technology shares were among the top performers, buoyed by momentum in Asia following OpenAI's agreement with South Korean chipmakers. Pharma stocks also extended gains after a relief rally in the prior session, amid signs that US President Trump's threatened tariffs on branded drugs may be less severe than feared after Pfizer struck a deal with the administration to offer discounted prescriptions through a new...
Hong Kong stocks fell 50 points, or 0.2%, to 24,851 in Wednesday morning trading, ending a two-day winning streak amid weakness in the technology, consumer discretionary, and financial sectors. Sentiment worsened after Wall Street closed lower overnight, as weak US data underscored the economic impact of tariffs on activity and earnings. Risk appetite was further dented by reports that two Chinese nationals were arrested in California for allegedly smuggling AI chips, including the Nvidia H100, to China. Caution also grew ahead of China's July trade data and inflation report, with lingering...
Japanese stocks opened lower on Wednesday (August 6th), following a decline in the US market after weak US services sector data sparked uncertainty over the Federal Reserve's policy direction. The Nikkei 225 index fell 119.08 points, or 0.3%, to 40,430.46 in early trading. Meanwhile, recent data showed Japanese workers recorded the fastest nominal wage growth in four months, reinforcing expectations that the Bank of Japan (BoJ) may soon raise interest rates. Government data showed nominal wages rose 2.5% year-on-year in June, a sharp increase from a revised 1.4% in May. The market is also...
US equities ended lower on Tuesday as investors grappled with downbeat economic data, rising trade tensions, and mixed corporate earnings. The S&P 500 dropped 0.5%, the Nasdaq slid 0.7%, and the Dow slipped by 62 points, following Monday's sharp rebound from Friday's losses tied to a disappointing jobs report. Concerns about stagflation resurfaced after the ISM Services index showed activity had stalled in July. Meanwhile, President Trump's threats of steep tariffs up to 250% on pharmaceutical imports alongside potential levies on semiconductors, added to market unease amid ongoing...
European shares closed higher on Tuesday, buoyed by better-than-expected corporate earnings and renewed optimism that the Federal Reserve may cut interest rates next month. The pan-European STOXX 600 index edged up 0.15%, with most regional bourses also trading in the green. Earnings season, in full swing, offered some relief for investors concerned about the impact of trade uncertainty on corporate performance. Diageo gained 4.9% after the world's biggest spirits maker forecast flat 2026 sales despite U.S. tariffs and upped its cost-savings target. The stock boosted the food &...
Wall Street futures opened higher on Tuesday, supported by ongoing optimism over potential Federal Reserve interest rate cuts, while investors assessed a fresh batch of corporate earnings. The Dow Jones Industrial Average (.DJI), opens new tab rose 26.4 points, or 0.06%, at the open to 44200.07. The S&P 500 (.SPX), opens new tab rose 6.7 points, or 0.11%, to 6336.63, while the Nasdaq Composite (.IXIC), opens new tab rose 38.5 points, or 0.18%, to 21092.097. Source: Reuters