Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500, the tech-heavy Nasdaq and the Dow all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly...
European stocks touched their highest in more than a week on Tuesday, lifted by a rally in luxury goods companies on higher U.S. spending and gains for wind energy stocks after a court ruled that Orsted could restart work on a U.S. offshore project. The pan-European STOXX 600 closed up 0.4%, after having touched its highest since September 16 earlier in the session. Most regional bourses also closed higher. Portugal stocks closed at their highest in more than three weeks after the country kept its budget surplus target for 2025, allowing it to continue reducing its debt ratio. Meanwhile,...
The Hang Seng dropped 185 points, or 0.7%, to close at 26,159 on Tuesday, its second straight decline and the lowest in nearly two weeks. Sentiment weakened as China's policy measures fell short of expectations following a press briefing by top financial regulators on Monday, including the PBoC governor. Locally, Hong Kong shut down ahead of Super Typhoon Ragasa, with most flights suspended until Thursday. In the U.S., three Fed officials signaled the need for caution on inflation, while markets awaited a speech from Chair Powell later today. Losses were partly limited by pledges from the...
European stocks edged higher on Tuesday, with the STOXX 50 and STOXX 600 both up 0.1%, supported by a tech-led rally on Wall Street and optimism over AI following news of a Nvidia–OpenAI partnership. Traders also awaited fresh PMI data from Europe's largest economies. France disappointed, with both services and manufacturing slipping into contraction territory. On the corporate front, LVMH (+0.5%), Siemens (+1%), Schneider Electric (+1.9%) and ABB (+0.7%) booked gains, while Orsted surged more than 7% after a US court ruling cleared the way to resume work on the Revolution Wind project off...
Hong Kong shares fell 195 points or 0.7% to 26,160 in early deals on Tuesday, marking a second day of losses as most sectors retreated. Sentiment weakened after PBoC Governor Pan Gongsheng's Monday briefing failed to deliver the easing measures investors had hoped for, with policymakers showing little urgency for major stimulus amid resilient exports and a stock market rally. In the U.S., futures were steady as Fed officials tempered bets for further cuts, noting inflation remains above target, though new Fed Governor Stephen Miran continued to advocate for deeper cuts. Losses were capped...
Asia-Pacific markets traded higher Tuesday, fueled by a tech rally on Wall Street after Nvidia announced a partnership with OpenAI, driving investor optimism about the future of artificial intelligence. Australia's ASX/S&P 200 rose 0.17%. South Korea's Kospi climbed 0.69%, while the small-cap Kosdaq added 0.28% at the open. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,396, against the index's previous close of 26,344.14. Hong Kong is bracing for a severe typhoon. The Hong Kong Observatory warned that conditions will begin to...