Wall Street's indexes closed at record highs on Wednesday, buoyed by strong sector performance and optimism that the US government shutdown will be brief. Investors shrugged off the first day of the shutdown and weaker-than-expected private payrolls data, with the S&P 500 gaining 0.3%, the Nasdaq 100 rising 0.5%, and the Dow adding 43 points. Health-care stocks led the advance, driven by sharp gains in Regeneron (+6.7%), Moderna (+6.8%), Eli Lilly (+8.2%), and AbbVie (+5.5%), while optimism over Pfizer's (+2.2%) deal with the White House on Medicaid drug pricing provided additional...
The three major averages in the US swing between small gains and losses on Thursday, as traders digest the latest batch of economic data and what it means for the Fed's plans. The US private sector added only 54K jobs in August, reinforcing signs that the labor market is losing momentum and strengthening expectations of a Federal Reserve rate cut this month. Initial jobless claims also rose to 237K, the highest in nearly two months. This followed Wednesday's weaker-than-expected JOLTS report. On the other hand, the ISM Services PMI rose more-than-expected to a six-month high. Investors are...
The Hang Seng Index fell 285 points, or 1.1%, to close at 25,058 on Thursday (September 4), weakening for a third session amid widespread weakness. The index followed mainland Chinese stocks lower after reports that China was considering cooling measures for the stock market, including easing some restrictions on short selling. The news triggered profit-taking after a 10% surge in Chinese stocks in August, driven by record margin financing and intensive trading, which raised concerns about overheating. The technology index slumped 1.9%, dragged down by a decline in Cambricon shares, due to...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Thursday, as bond market pressures eased and yields edged lower. Traders remained focused on upcoming US labour market data to gauge the Federal Reserve's next move, with a rate cut this month now almost fully priced in. Trade policy developments also drew attention after President Trump urged the Supreme Court to swiftly hear his appeal to overturn last week's ruling that declared most tariffs illegal. Travel stocks were among the weakest performers, with Jet2 plunging 13.8% after cutting its winter 2025–26 capacity outlook...
The Nikkei 225 Index rose 1.53% to close at 42,580 while the broader Topix Index added 1.03% to 3,080 on Thursday, rebounding from the previous session's decline and tracking a tech-led rally on Wall Street. Gains were driven by Alphabet and Apple, which surged after Google's parent avoided a breakup in an antitrust case, though persistent concerns about the global economy kept sentiment cautious. A pullback in bond yields also supported equities, with Japan's 10-year yield easing from 17-year highs. On Wednesday, Bank of Japan Governor Kazuo Ueda reaffirmed that the bank's stance on rate...
The Hang Seng Index opened up 145 points, or 0.57%, reaching 25,489 points. The National Enterprises Index gained 52 points, also up 0.57%, to stand at 9,102 points, while the Technology Index increased by 41 points, or 0.73%, to 5,725 points. Technology stocks performed well, with Tencent rising by 1%, Alibaba by 0.1%, Meituan by 0.3%, Xiaomi by 0.7%, JD.com by 1.6%, and Kuaishou by 1%. Financial stocks also supported the market, with HSBC Holdings up 0.8%, AIA Insurance increasing by 0.3%, China Ping An rising by 1%, and Hong Kong Exchanges and Clearing up by 0.3%. Source: DimsumDaily