The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
UK homebuilder Vistry plunges 15% European markets closed lower on Friday, as investors digested corporate results and quarter-point interest rate cuts from the U.S. Federal Reserve and Bank of England. The pan-European Stoxx 600 ended the session 0.66% lower, with most sectors and major bourses in closing in the red. Mining stocks led the losses, shedding 4.2%, while travel and leisure stocks ticked up 0.8%. The index ended down 0.19% on the week. The losses in Europe come as market participants continue to assess political upheaval in Germany and President-elect Donald Trump's historic...
Europe's benchmark STOXX 600 logged its third consecutive week of declines on Friday, hurt by underwhelming stimulus measures from China as well as concerns about tariffs under a Trump presidency hurting economic growth. The pan-European STOXX 600 closed down 0.6%, with China-exposed sectors such as miners and luxury losing more than 3% each. Most major subsectors were in the red barring defensive sectors such as real estate and healthcare. China unveiled a 10 trillion yuan ($1.40 trillion) debt package on Friday, disappointing investors who had speculated on a fiscal bazooka. Metal prices...
Stocks rose at the end of their best week in 2024 after solid consumer sentiment data and bets that newly elected President Donald Trump's pro-growth agenda will keep fueling Corporate America. Equities advanced for a fourth consecutive session, with the S&P 500 on track for its 50th record this year. The gauge extended its weekly gain to 4.5%. The cohort of defensive shares took the lead on Friday after some groups hit "oversold" levels. The megacap space was mixed, with Tesla Inc. up and Nvidia Corp. down. While the post-election rally...
Japanese stocks rose after the close on Friday, as gains in the Textile, Shipbuilding and Steel sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 was up 0.19%. The best performers on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 7.68% or 430.00 points to close at 6,031.00. Meanwhile, Ajinomoto Co., Inc. (TYO:2802) gained 7.35% or 433.00 points to close at 6,324.00 and Kawasaki Heavy Industries, Ltd. (TYO:7012) gained 5.25% or 348.00 points to close at 6,973.00. The worst performers on the session were Taiyo Yuden Co., Ltd. (TYO:6976), which plunged...
The Hang Seng Index fell 1.1% at 20,728.19 in Hong Kong. The move follows the previous session's increase of 2%. Meituan contributed the most to the index decline, decreasing 4.1%. Longfor Group Holdings Ltd. had the largest drop, falling 5.8%. Today, 59 of 82 shares fell, while 22 rose; all sectors were lower, led by commerce and industry stocks. Source : Bloomberg