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 Hang Seng Index plunged 323 points, or 1.3%, to close at 25,202 on Wednesday (August 27), reversing early gains and marking a second day of declines as selling swept across sectors. Sentiment worsened after several Chinese brokerages and asset managers reportedly reduced financing and limited purchases amid growing risks from the recent surge in Chinese stocks. Trading volume on Chinese stock exchanges reached CNY 3.1 trillion on Tuesday, the second-highest in history. Investors also grew cautious ahead of Nvidia's earnings release today and Friday's PCE index. Data-wise, China's...
European markets opened higher Wednesday as traders gear up for a quarterly earnings report from chipmaker Nvidia The Nasdaq-listed stock has become a bellwether for the global technology sector, particularly regarding the progress of the artificial intelligence boom, as its major corporate customers include Microsoft, Google, Meta and Amazon Its value has soared in recent years, giving it the biggest weighting in the S&P 500 and an outsized influence on U.S. market performance. The company will report after U.S. markets close on Wednesday. France's CAC 40 index rebounded 0.4%...
The Nikkei 225 Index rose 0.3% to close at 42,520 while the broader Topix Index slipped 0.07% to 3,070 on Wednesday, with Japanese shares showing mixed performances as investors awaited Nvidia's earnings report, expected to offer fresh insight into the durability of the artificial intelligence trade. Sentiment was also pressured by political uncertainty after US President Donald Trump's unprecedented removal of Federal Reserve Governor Lisa Cook, a move that heightened concerns about the US central bank's independence. Domestically, investors looked ahead to key economic data due later...
The Hang Seng Index opened 101 points higher, or 0.39%, at 25,626 points. The China Enterprises Index rose by 33 points, or 0.36%, to 9,181, while the Hang Seng Tech Index advanced 32 points, or 0.55%, to 5,814. Technology stocks demonstrated steady performance, with Tencent up 0.5%, Xiaomi Group rising 0.7%, and Kuaishou gaining 0.6%. Meanwhile, Alibaba, Meituan, and JD.com remained unchanged. Financial stocks showed mixed results. HSBC Holdings gained 0.7%, AIA Group rose 0.3%, but Ping An Insurance dropped 0.7%, and Hong Kong Exchanges and Clearing added 0.5%. Automotive stocks...
Nikkei Slips 0.1%, Dragged by Energy, Videogame Stocks Japanese stocks are lower as uncertainty over the U.S. tariff impact on earnings continues. Energy and videogame stocks are leading the decline. Eneos Holdings is down 1.4% and Nintendo is 1.5% lower. USD/JPY is at 147.49, compared with 147.76 as of Tuesday's Tokyo stock market close. Investors are closely watching any developments on the war in Ukraine as well as on the potential leadership election for the ruling Liberal Democratic Party in Japan. The Nikkei Stock Average is down 0.1% at 42358.82. Source: Bloomberg