The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day. Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions. Investors focused on the shutdown, which...
Asia-Pacific markets mostly climbed Friday as investors assess a slew of economic data from the region. Japan's benchmark Nikkei 225 rose 1.04% and the Topix climbed 0.89%. South Korea's Kospi rose 0.36% while the small-cap Kosdaq was down 0.34%. Australia's benchmark S&P/ASX 200 was up 0.33%. Hong Kong's Hang Seng index and mainland China's CSI 300 traded flat at the open. The U.S. and China agreed to maintain communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary Christopher Landau, according to a readout released by the Chinese...
The Nikkei 225 Index rose 0.8% to above 37,200 while the broader Topix Index gained 0.6% to 2,733 on Friday, reversing losses from the previous session as investors reacted to the latest inflation report. Japan's headline inflation remained steady at 3.6% in April, but the core inflation rate accelerated more than expected to 3.5%, the highest in over two years. This reinforces expectations that the Bank of Japan will continue tightening monetary policy in response to sustained inflationary pressures. Investor sentiment was also buoyed by falling US Treasury yields, with the benchmark...
U.S. stocks closed mostly flat on Thursday as investors weighed the impact of President Trump's newly passed tax and spending bill on growing concerns over the ballooning U.S. deficit. The S&P 500 and Dow closed slightly lower, while the Nasdaq rose 0.3%. Wall Street remained cautious, with the bill — featuring tax cuts and increased defense spending — now heading to the Senate and potentially adding trillions of dollars to the $36 trillion national debt. The Congressional Budget Office pegs the cost at nearly $4 trillion, stoking concerns of fiscal instability. The bond market...
European stocks fell on Thursday as worries over rising bond yields curbed investor appetite for risky assets. The Stoxx Europe 600 Index dropped 0.6% by the close, following steep declines Wednesday across US markets after a disappointing Treasury auction sent yields surging. Consumer products and autos were the biggest laggards, while the personal care and chemical sectors outperformed. Renewable-energy stocks, including Orsted A/S and Vestas Wind Systems A/S, fell after House Republicans released a new version of the tax and spending bill that...
The three major averages in the US swung between small gains and losses on Thursday, as investors weighed ongoing concerns about the nation's fiscal outlook. The House narrowly passed President Trump's new tax bill, which is expected to widen the budget deficit by nearly $3 billion over the next decade and includes a $4 trillion increase in the US debt ceiling. The legislation now heads to the Senate, with a vote anticipated by August. Meanwhile, market participants are monitoring developments on the trade front and awaiting the release of flash S&P Global PMI data, which will offer an...