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...
(Hong Kong) The Hong Kong stock market opened on a softer note on May 19, with the Hang Seng Index (HSI) down 188 points, or 0.8%, at 23,156. The China Enterprises Index dropped 69 points, or 0.81%, to 8,399, while the Technology Index fell 53 points, or 1.01%, to 5,227. Technology stocks saw broad declines. Alibaba Group slid 2.8%, Meituan lost 1.7%, Xiaomi Corporation and JD.com both fell 1.3%, and Kuaishou dropped 0.8%. Tencent Holdings remained unchanged. The financial sector also struggled, with HSBC Holdings down 0.2%, AIA Group declining 0.9%, Ping An Insurance losing 1.1%, and Hong...
The Nikkei 225 dropped 247 points or 0.9% to 37,595 in Monday morning trade, while the broader Topix fell 0.3% to 2,733, tracking a plunge in U.S. futures after Moody's downgraded the U.S. credit rating to Aa1 from Aaa on Friday, citing a deteriorating fiscal trajectory and "a lack of effective policy action" to rein in deficits. Sentiment was further pressured by Treasury Secretary Bessent's warning that trade partners would face maximum tariffs if they failed to negotiate with the U.S. in "good faith." Additionally, Japan's Q1 2025 GDP shrank 0.2% qoq, worse than the expected 0.1% fall and...
The S&P 500 rose Friday for a fifth session and posted a sharp weekly gain, as investors looked past the release of disappointing consumer sentiment data and persistent inflation worry. The broad market index climbed 0.70% to end at 5,958.38, while the Nasdaq Composite gained 0.52% to close at 19,211.10. The Dow Jones Industrial Average gained 331.99 points, or 0.78%, settling at 42,654.74. Friday's advance put the 30-stock benchmark into positive territory for 2025. For the week, the S&P 500 surged 5.3%, and the Dow gained 3.4%. The Nasdaq Composite jumped 7.2% this week....
The Dow Jones Industrial Average (DJIA) stepped into fresh weekly highs on Friday after investors shrugged off the second-worst print from the University of Michigan's (UoM) Consumer Sentiment Index on record. Market sentiment remains on the high side as traders hope for further clarity on trade from the Trump administration and a continued easing of President Donald Trump's tariff policies. The UoM's Consumer Sentiment Index sank to 50.8 from 52.2 as consumers' outlook for economic activity, income, and employment continues to decline. Investors were hoping for an uptick in consumer...
The European stock markets closed higher in Friday trading as the Stoxx Europe 600 gained 0.28%, Germany's DAX was up 0.12%, the FTSE 100 rose 0.59%, France's CAC 40 increased 0.24%, and the Swiss Market Index advanced 0.61%. In France, the unemployment rate was 7.4% in Q1, up slightly from 7.3% in the previous quarter, according to the national statistics agency. In Italy, the annual inflation rate held steady at 1.9% in April, unchanged from March and slightly below the 2.0% forecast, according to Bloomberg. And in corporate news, Novo Nordisk said Friday that Lars Fruergaard Jorgensen...