The Dow Jones Industrial Average (DJIA) softened on Tuesday, falling back for a second straight day as bullish-prone equity markets pivot into a defensive stance ahead of the latest interest rate decision from the Federal Reserve (Fed). A raft of key United States (US) economic data is stuffing the chute through the rest of the week, with Gross Domestic Product (GDP), US Personal Consumption Expenditure Price Index (PCE) inflation, and the latest Nonfarm Payrolls report. The Dow Jones slipped back below 44,800, shedding around 200 points and backsliding four-tenths of one percent on the...
European stocks rose on Friday, boosted by stronger-than-expected U.S. payrolls data for April and signs that China may resume trade talks with the U.S. The Stoxx 50 jumped 1.9% and the Stoxx 600 gained 1.7%, led by a 3% rally in technology stocks. London's FTSE 100 rose more than 1%, marking its longest daily winning streak on record. Shell rose 1.9% after beating Q1 profit expectations and launching a $3.5 billion share buyback. Standard Chartered also beat estimates, boosted by gains in wealth management and global banking, while NatWest reported better-than-expected profit of £1.8...
US stocks were firmly higher on Friday after evidence of a strong labor market softened concerns of a recession this year. The S&P 500, the Dow, and the Nasdaq 100 were all above 1% higher, with the former two set to record a nine-session win streak. The US added 177 thousand jobs in April, more than expectations of 130 thousand, while the unemployment rate remained unchanged and wages grew loosely in line with expectations. The stronger momentum was also owed to China noting that it will consider starting talks with the White House on potential trade deals. Gains were broad-based...
Japan stocks were higher after the close on Friday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.98% to hit a new 1-month high. The best performers of the session on the Nikkei 225 were Yamato Holdings Co., Ltd. (TYO:9064), which rose 5.32% or 105.00 points to trade at 2,077.50 at the close. Meanwhile, Sumitomo Dainippon Pharma Co Ltd (TYO:4506) added 5.26% or 47.00 points to end at 941.00 and Otsuka Holdings Ltd (TYO:4578) was up 5.22% or 382.00 points to 7,697.00 in late trade. The worst performers of the...
European stocks are heading for a mixed open on Friday, as investors assess a signal that China is seeking trade negotiations will the U.S. Germany's DAX and France's CAC 40 were seen opening lower, according to IG data, with U.K. stocks moving higher. Most markets were closed on Thursday for the May 1 holiday. London's FTSE 100 ended a choppy session 0.02% higher to mark its 14th straight session in the green, drawing level with its best run since 2017. Earnings in Europe on Friday include bank Standard Chartered, which beat estimates with a 10% gain in first-quarter profit, Natwest and...
(Hong Kong) The Hang Seng Index rose 73 points, or 0.33%, to 22,192. The China Enterprises Index gained 23 points, or 0.29%, to 8,100. The Tech Index increased 24 points, or 0.48%, to 5,112. Tech stocks showed mixed performance. Tencent rose 0.2%, Alibaba increased 1.4%, Meituan fell 0.5%, Xiaomi Group gained 1.1%, JD.com rose 0.6%, and Kuaishou remained unchanged. Financial stocks also showed mixed performance. HSBC Holdings fell 1.2%, with Group Chairman Mark Tucker set to retire before the end of the year. AIA Group rose 2.4%, China Ping An remained unchanged, and Hong Kong Exchanges and...