The S&P 500 rose 0.3% to a fresh record high on Thursday, while the Nasdaq gained 0.6% and the Dow Jones hovered near the flatline. Investors kept a cautious eye on the ongoing US government shutdown, though markets largely shrugged off concerns, awaiting further developments and hoping the stalemate proves short-lived. Technology led sector gains after OpenAI raised $6.6 billion in a share sale valuing the company at $500 billion and announced an agreement with South Korean chipmakers. Industrials, energy and consumer discretionary stocks also advanced, while real estate lagged. Among...
Stocks in Hong Kong jumped 272 points or 1.4% to 19,702 in early trade on Monday after retreating in the prior six sessions, helped by robust gains in most sectors. Financial stocks led the advance, climbing around 2% after a Chinese regulator urged companies with share prices lower than book values to improve performance. Tech and consumer sectors also saw strong gains, despite Goldman Sachs' recommendation to underweight Hong Kong stocks due to limited economic and earnings growth. Capping the upturn was fresh data showing foreign direct investment in China tumbled 29.8% yoy in the first...
Asia-Pacific stocks were mostly lower Monday as markets kickstarted what ING calls a "quiet" week for economic data from the region. Key data this week from Asia will include China's loan prime rate, set to be released Wednesday. ING said no change is expected in China's LPR, with the one-year rate currently at 3.1% and the five-year LPR at 3.6%. Japan will release trade data on Tuesday and October headline inflation numbers on Friday, while Australia's central bank on Tuesday will release minutes of its meeting earlier this month. Japan's benchmark Nikkei 225 fell 1.16% in early trade,...
Stocks tumbled on Friday as the postelection rally fizzled, placing the major averages on track for sharp weekly losses. The Dow Jones Industrial Average lost 305 points, or 0.7%. The S&P 500 slipped about 1.3%, while the Nasdaq Composite shed 2.2%. Declines in pharmaceutical stocks weighed on the 30-stock Dow and the S&P 500, with Amgen down 4% and Moderna off by 6%. President-elect Donald Trump said on Thursday that he planned to nominate vaccine skeptic Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services. The SPDR S&P Biotech ETF (XBI) tumbled more...
European stocks fell as traders pared back expectations for an interest-rate cut by the Federal Reserve in December after cautious comments from Chair Jerome Powell. The Stoxx Europe 600 Index was 0.7% lower at the close in London, giving back much of Thursday's rebound as it declined for the third day this week. Media, health care and technology stocks led Friday's retreat while basic resources gained on higher aluminum prices. China announced the removal of a tax rebate that covers over 5 million tons of exports of the metal. Sanofi SA was among...
Stocks tumbled on Friday as the postelection rally fizzled, placing the major averages on track for sharp weekly losses. The Dow Jones Industrial Average lost 292 points, or 0.68%. S&P 500 slipped about 1.1%, while Nasdaq Composite shed 2%. Declines in pharmaceutical stocks weighed on the 30-stock Dow and the S&P 500, with Amgen down 5% and Moderna off by more than 7%. President Donald Trump said on Thursday that he planned to nominate vaccine skeptic Robert F. Kennedy Jr. to lead the U.S. Department of Health and Human Services. The SPDR S&P Biotech ETF (XBI) tumbled more than...