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,...
The Hang Seng Index opened slightly lower at 19,962.29 in Hong Kong on Monday (12/16). AIA Group Ltd. was the biggest contributor to the decline, down 1.0%. Kuaishou Technology was the biggest decliner, down 1.6%. In early trading, 38 of 83 stocks were down, while 40 were up; two of four sectors were down, led by trade and industrial stocks. Source: Bloomberg
Japanese stocks were mixed on Monday, with a weaker yen supporting export-related companies such as machinery and automakers. Rising U.S. bond yields boosted banking stocks, although trading was subdued before key central bank decisions this week in Japan and abroad. The broader Topix index fell 0.1 percent to 2,744.06 as of 9:36 a.m. in Tokyo. The Nikkei index rose 0.2 percent to 39,544.74. Tokio Marine Holdings Inc. was the biggest contributor to the Topix decline, dropping 2 percent. Of the 2,126 stocks in the index, 890 rose and 1,080 fell, while 156 were unchanged. Source: Bloomberg
Asia-Pacific markets are set to mostly climb on Monday, with investors looking to several major central back decisions due this week including the Bank of Japan and the People's Bank of China. The Federal Reserve's decision on Dec. 18 stateside will also be top of mind for investors, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-points cut. The BOJ is likely to hold rates when it releases its decision on Thursday, while the PBOC will announce its loan prime rates on Friday. The one-year LPR influences corporate loans and most household loans in China, while the...
On Friday, the S&P 500 closed mostly flat, while the Nasdaq gained 0.1%. The Dow, however, dropped 86 points, extending its losing streak to seven sessions, marking its longest stretch since 2020. Losses in major tech stocks like Nvidia (-2.2%), Meta (-1.6%), and Amazon (-0.6%) weighed on the market, while Tesla saw a 4.3% surge, closing record high of $436.23. Broadcom surged 24.4%, hitting a $1 trillion market cap after reporting a 220% increase in AI-related revenue, exceeding expectations. This boost lifted semiconductor stocks, including Marvell (+10.8%) and Taiwan Semiconductor...
European markets closed lower Friday as investors reacted to disappointing data prints from two of the region's largest economies. The pan-European Stoxx 600 provisionally closed 0.62% lower, also recording a weekly loss after three weeks in the green. Friday's downbeat mood followed unexpected declines in both U.K. GDP and key export data from Germany. The U.K. economy contracted by an estimated 0.1% on a monthly basis, the ONS said Friday, with officials attributing the downturn to a decline in production output. Economists polled by news agency Reuters had projected a 0.1% rise in GDP...