US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The S&P 500 rose 0.3% to 6,400 and the Nasdaq 100 gained 0.5% to break through 23,400, both reaching record highs, while the Dow Jones Industrial Average hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the largest railroad deal in the US. Meanwhile, tech giants mostly gained ahead of earnings results from the world's largest companies by market capitalization this week, including Microsoft,...
Asia-Pacific markets opened mostly higher Monday, as investors parsed Japan's fourth-quarter economic growth data, while awaiting a slew of central bank decisions from the region this week. Japan's Nikkei 225 traded around the flatline, while the Topix added 0.15%. South Korea's Kospi added 0.18% andthe small-cap Kosdaq added 0.35%. Japan's economic expansion in the fourth quarter beat analysts' expectations for quarter-on-quarter and annualized growth, preliminary government data showed Monday. On an annualized basis, GDP grew 2.8%, exceeding the Reuters estimates of 1%.The Japanese yen...
Stocks were little changed on Friday after a strong week, as investors digested the latest news on global trade and inflation. The Dow Jones Industrial Average fell 101 points, or 0.2%. The S&P 500 rose 0.1% and the Nasdaq Composite rose 0.3%. Stocks were on track to end the week in the green, as sentiment improved after investors gained more certainty about President Donald Trump's tariff plans, while fresh inflation data turned out to be more constructive than previously expected. Traders also shrugged off data released Friday that showed a 0.9% drop in retail sales for January,...
European stocks closed lower on Friday, easing from record highs hit in the last session but still sharply higher for the week as markets continued to assess the chances of peace in Ukraine this year and the impact of potential tariffs from U.S. President Trump. The euro zone STOXX 50 fell 0.2% to close at 5,488 after hitting a record high for the first time in 25 years yesterday, while the pan-European STOXX 600 fell 0.3% to 552. Trump announced plans for reciprocal tariffs on a country-by-country basis, which will come into effect as early as April. Healthcare and insurance companies led...
The three major averages in the US swung around the flatline on Friday, as traders digest much weaker-than-expected retail sales that raised concerns about the strength of the US consumer spending. Retail sales declined 0.9% last month and the control sales which is used to calculate GDP declined 0.8%. Consumer spending was likely hit by harsh weather and wildfires in LA. Meanwhile, President Trump signed a directive instructing the US Trade Representative and Commerce Secretary to propose new country-specific tariffs. Investors await further details and remain hopeful that negotiations...
Hong Kong stocks surged more than three percent on Friday, in line with a global rally fuelled by relief over the timeline of US President Donald Trump's latest tariffs. Sentiment was also boosted by a Bloomberg report that China had invited Alibaba co-founder Jack Ma and other entrepreneurs for a meeting with top brass, fuelling hopes of further support for the country's private sector. The Hang Seng Index jumped 3.69 percent, or 805.96 points, to 22,620.33. The president said Thursday he decided to impose fresh reciprocal duties on trading partners, telling reporters that US allies were...