The S&P 500 and Nasdaq 100 extended record closes on Monday, rising 0.4% and 0.8%, fueled by AI-related dealmaking that boosted investor sentiment despite the US government shutdown entering its second week. The Dow Jones slipped 65 points, dragged down by Home Depot and Verizon. AMD surged 23.7% after announcing a multiyear deal to supply AI chips to OpenAI, with an option for the company to acquire up to 10% of AMD, fueling optimism for broader M&A activity. Comerica jumped 13.7% following a $10.9 billion all-stock acquisition agreement with Fifth Third Bancorp. Investors largely...
Japanese stocks fell after the yen strengthened as much as 1% against the dollar overnight and US technology shares slumped. The Nikkei 225 Stock Average dropped 2% as of 9:12 a.m. in Tokyo, while the broader Topix slipped 1.3%. Exporters such as automakers and technology companies were among the heaviest drags on the Topix. The yen reached a one-week high of 151.79 per dollar, after jumping as much as 1% on Thursday. Bank of Japan Governor Kazuo Ueda said Thursday that currency markets have had a major impact on the economy, pointing to another potential...
Asia-Pacific markets are set for a mixed open on Friday, after Wall Street benchmarks the Nasdaq Composite and the S&P 500 posted their worst day in nearly two months on a downbeat Microsoft earnings forecast and MetaTrader results. Traders await a raft of economic data from the region, including Australia's third-quarter producer price index reading and China's Caixin manufacturing purchasing managers' index for October. Japan's Nikkei 225 appears set for a weaker open, with futures in Chicago at 38,470 and its Osaka counterpart at 38,370 against the index's last close of...