The Dow Jones Industrial Average (DJIA) softened on Tuesday, falling back for a second straight day as bullish-prone equity markets pivot into a defensive stance ahead of the latest interest rate decision from the Federal Reserve (Fed). A raft of key United States (US) economic data is stuffing the chute through the rest of the week, with Gross Domestic Product (GDP), US Personal Consumption Expenditure Price Index (PCE) inflation, and the latest Nonfarm Payrolls report. The Dow Jones slipped back below 44,800, shedding around 200 points and backsliding four-tenths of one percent on the...
US stocks gained traction, benefiting from reprieve for Treasuries across the curve amid bets that the Federal Reserve will deliver multiple rate cuts this year. The S&P 500, the Nasdaq 100, and the Dow were all close to 0.5% higher. Fresh data showed that headline producer prices fell sharply in April to back the view of disinflation following the softer CPI print this week. Also, core sectors of retail sales unexpectedly contracted in the period, favoring bets that the Fed will adjust monetary policy to support the economy. Industrials, utilities, and pharmaceuticals led the gains. GE...
European stocks recovered from earlier losses to close above the flatline on Thursday, erasing the slight pullback from last session as markets digested a batch of earnings results and assessed how trade barriers may jeopardize economic growth. The Eurozone's STOXX 50 closed marginally higher at 5,410 and the pan-European STOXX 60 gained 0.5% to close at 546. Healthcare stocks rebounded as investors took advantage of lower valuations due to US President Trump's signals of caps on drug prices, lifting Bayer and Sanofi shares by 3% and 1%, respectively. Utilities also advanced sharply with...
US stocks fell on Thursday, with the three major indexes down nearly 0.3%, as investors digested a slew of economic data and concerns about the economic outlook resurfaced. Retail sales rose 0.1% in April, compared with expectations for no change. However, core retail sales, which are more directly linked to GDP, fell 0.3%. Meanwhile, producer prices unexpectedly fell 0.5%, driven largely by a decline in margins, suggesting companies may be absorbing some cost pressures from higher tariffs. Energy, consumer goods and health care were the biggest losers. Apple shares fell 0.2% after President...
The Hang Seng fell 187 points or 0.8% to close at 23,453 on Thursday, reversing early gains and pulling back from a strong rally in the previous session. All sectors declined, weighed by tech, property, and consumer stocks. Sentiment weakened as mainland Chinese markets turned lower after a three-day bullish mood. Caution also grew after Wednesday's data showed a plunge to a 20-year low in China's new bank loans for April, reflecting weak demand and ongoing pressure from the U.S.–China trade tensions. Even news that Beijing had rolled back a rare earth export ban amid easing trade disputes...
European stocks opened firmly in negative territory as investors digested earnings updates from a number of companies across the continent. The Stoxx Europe 600 and France's CAC 40 were down 0.4%, while the U.K.'s FTSE 100 and Germany's DAX were down 0.5% as of 8:25 a.m. in London. Elsewhere in the currency market, the British pound gained 0.2% after better-than-expected U.K. gross domestic product figures for the first quarter. Shares of German industrial giant Thyssenkrupp plunged 8% shortly after the opening bell Thursday, sending the company to the bottom of the regional Stoxx 600...