The S&P 500 closed mostly flat on Friday, the Dow Jones extended its record run, rising 240 points finisheing at 46,758 after briefly surpassing 47,000 during the session, while the Nasdaq slipped 0.3% as the US government shutdown entered its third day. Pressure came from major technology names, with Palantir Technologies leading the S&P 500 lower, dropping 7.5%, while Tesla and Nvidia fell 1.4% and 0.7%, respectively. Applied Materials declined 2.7% after warning of a $600 million revenue hit tied to semiconductor export restrictions. Investors focused on the shutdown, which...
US stocks edged higher Wednesday afternoon after President Trump denied plans to fire Federal Reserve Chair Jerome Powell, though he stopped short of ruling it out entirely. The S&P 500 rose 0.2%, rebounding from earlier losses, while the Dow gained 150 points and the Nasdaq 100 added 0.1%. Markets initially dropped on reports that Trump was considering Powell's removal, adding to existing anxiety over sticky inflation and trade tensions. The Producer Price Index came in flat for June, offering some relief after Tuesday's hotter-than-expected CPI report, which showed the fastest annual...
The Hang Seng Index fell 72 points, or 0.3%, to close at 24,518 on Wednesday (July 16th), down from a four-month high reached earlier in the session as traders booked profits. The decline ended a four-day winning streak, with sentiment weighed down by falling US futures prices following June inflation data, which indicated that tariffs may push prices higher and dampen expectations of a Fed rate cut. Meanwhile, President Trump said he may impose tariffs on pharmaceutical products by the end of July, with levies on semiconductors likely to follow soon after. He predicted these targeted...
The STOXX 50 was down 0.6% and the STOXX 600 slipped 0.3% on Wednesday, as investors focused on a fresh wave of corporate earnings. ASML Holding shares tumbled more than 6% after the company warned of no growth potential in 2026, citing macroeconomic and geopolitical uncertainties, including the risk of tariffs on new systems and parts shipped to the US and potential retaliatory measures from other countries. Despite these concerns, ASML beat Q2 estimates on both revenue and earnings. Other notable decliners included AstraZeneca (-1.3%), Siemens Energy (-1.9%), and Mercedes-Benz...
The Nikkei 225 edged down 0.04% to close at 39,663, while the broader Topix fell 0.21% to 2,819 on Wednesday, as investor caution grew ahead of Japan's upcoming Upper House election. Markets remain on edge over the potential for major fiscal shifts, including speculation that the government could reduce or abolish the sales tax. Such moves have fueled a rise in Japanese government bond yields, driven by concerns over increased borrowing costs. Adding to the uncertainty, investors continued to monitor evolving trade tensions after US President Donald Trump flagged possible tariffs on...
The Hang Seng Index opened higher today, rising 113 points or 0.46% to 24,704. The China Enterprises Index gained 49 points or 0.56% to 8,927, while the Tech Index climbed 48 points or 0.88% to 5,479. Technology stocks were the main drivers of the market, with Tencent up 0.4%, Alibaba gaining 1.9%, Meituan increasing 1.2%, Xiaomi advancing 0.9%, and Kuaishou rising 1.6%. Financial stocks saw mixed performance. HSBC Holdings remained flat, AIA Group rose 0.4%, Ping An Insurance fell 0.1%, and Hong Kong Exchanges and Clearing added 0.2%. Pop Mart shares showed slight movement after issuing...