US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
Asia-Pacific markets were set to open mixed Tuesday, a day after Chinese President Xi Jinping signaled support to the country's private sector and urged businesses to "show their "talents." Australia's S&P/ASX 200 was down 0.43%, ahead of the Reserve Bank of Australia's policy decision. Reuters estimates a 25-basis-point rate cut to 4.1%. The Australian dollar had strengthened 0.05% to 635 against the dollar. Japan's benchmark Nikkei 225 started the day 0.28% higher, while the broader Topix index advanced 0.37%. South Korea's Kospi was marginally higher, while the small-cap Kosdaq...
European stocks bounced back on Monday, with the STOXX 50 and STOXX 600 closing about 0.5% higher at new records, boosted by a surge in defense stocks amid expectations of increased defense spending by European governments. European leaders meet in Paris today to discuss Russia's invasion of Ukraine and formulate a response after the U.S. signaled limits to its support for Ukraine. Meanwhile, U.S.-Russian negotiations on the Ukraine war are set to begin this week in Saudi Arabia, although uncertainty persists over Ukraine's participation, and European countries were not invited. Also,...
The Hang Seng closed nearly unchanged at 22,616 on Monday, after an initial surge of almost 1.5% earlier in the session. Gains in property and financial stocks offset losses in the technology and consumer sectors. Traders took profits following a tech-driven rally while awaiting further policy signals from Chinese President Xi Jinping's meeting with private enterprises, including Alibaba, Meituan, Xiaomi Corp, and BYD Co. Investors also monitored reports from Reuters indicating that Beijing hopes the European Commission will make a "political decision" regarding the bloc's anti-subsidy...
The Hang Seng closed nearly flat at 22,616 on Monday after rising almost 1.5% earlier in the session. Gains in property and financial stocks ultimately offset losses in technology and consumer sectors. Traders appeared to take profits following a tech-driven rally while awaiting further policy signals from Chinese President Xi Jinping's meeting with private enterprises, including Alibaba, Meituan, Xiaomi Corp, and BYD Co. Investors also monitored reports from Reuters, which indicated that Beijing hopes the European Commission will make a "political decision" regarding the bloc's...
European markets opened slightly higher on Monday, as regional defense and geopolitical uncertainty remain in focus. The pan-European Stoxx 600 was up by around 0.1% shortly after the opening bell, with major bourses trading in mixed territory. Geopolitical tensions between the U.S. and Europe are likely to be a focus for European markets this week as U.S. officials prepare for talks with Russia to end the war in Ukraine, with officials in Kyiv and Europe being left out of the discussions. European leaders are holding an emergency summit in Paris on Monday to discuss how to respond to...