The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was down 0.7%, France's CAC decreased 2.9%, and the Swiss Market Index declined 0.8%. The annual inflation rate in the euro area was an estimated 2.0% in July, which is unchanged from June, according to a flash estimate from Eurostat, the EU's statistical office. Analysts had been expecting 1.9%, according to Bloomberg. Eurostat said food, alcohol, and tobacco are expected to have the highest annual rate in July at 3.3%, compared with 3.1% in...
All three U.S. indexes erased earlier gains on Wednesday, extending their losses from the previous session as investors grappled with trade policy uncertainty and awaited Nvidia's earnings. The S&P 500 fell 0.1%, heading for its fifth straight decline, while the Nasdaq 100 dropped 0.2%. The Dow Jones Industrial Average fell more than 200 points amid concerns about new tariffs after President Trump announced a 25% levy on European autos and confirmed tariffs on Mexico and Canada that will take effect on April 2. Nvidia shares rose more than 2% ahead of its highly anticipated earnings...
European stocks closed sharply higher on Wednesday after a quiet session amid a strong set of corporate earnings, as markets continued to assess risks to European corporate earnings amid U.S. trade headwinds and the prospect of higher defense-focused government spending. The STOXX 50 jumped 1.5% to 5,530, 5 points from a record, and the STOXX 600 gained 1.6% to a fresh record of 560. AB InBev jumped 8.7% after reporting stronger-than-expected fourth-quarter earnings, and Munich RE jumped 4.8% after beating earnings estimates and raising its dividend payout. Additionally, Siemens and...
The S&P 500 added 0.2% and the Nasdaq was up 0.4% on Wednesday, rebounding after 4 consecutive session of losses, while the Dow Jones traded around the flatline. Consumer discretionary and tech were the top performing sectors while health and consumer staples underperformed. Traders are eagerly awaiting Nvidia's earnings report, due after the closing bell, particularly for any insights into the potential impact of the DeepSeek emergence. Nvidia shares were up approximately 2.5%. In addition, Lowe's Companies surged more than 1.7% after reporting a 0.2% increase in same-store sales,...
The STOXX 50 rose 0.6% and the STOXX 600 gained 0.5% on Wednesday, rebounding from a lackluster session the previous day. Investors focused on corporate earnings and monitored a minerals deal between Ukraine and the US aimed at developing Ukraine's natural resources, an agreement that could help ease recent tensions between the two countries. Mining companies led the gains, supported by a rise in copper prices after US President Donald Trump signaled potential import tariffs on the metal. The food and beverages sector also advanced. On the earnings front, Anheuser-Busch InBev surged over 7%...
The Hang Seng surged 754 points, or 3.3%, to close at a more than three-year high of 23,788 on Wednesday, rebounding sharply from the previous session's decline. The rally came as investors reacted positively to Hong Kong's 2024-25 budget, in which Financial Secretary Paul Chan unveiled plans to curb public spending and raise revenue to narrow the fiscal deficit. Meanwhile, payroll taxes and corporate profits taxes will be completely waived, with certain restrictions. Sentiment was further boosted by reports that Chinese lawmakers are reviewing a draft law introducing new safeguards against...