US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
The Hang Seng Index initiated the day by rising 28 points to 24,191 points, currently showing a 60-point increase or 0.25%, reaching 24,223 points. Concurrently, the H-share index climbed by 29 points or 0.33%, reaching 8,796 points, and the technology index saw a gain of 26 points or 0.48%, reaching 5,418 points. In the tech sector, stocks demonstrated overall stability, with Tencent rising by 0.4%, Alibaba by 1.1%, Meituan by 0.4%, Xiaomi Group by 0.6%, and Kuaishou witnessing a slight decline of 0.1%. Across the financial domain, individual movements were observed, notably with HSBC...
The Nikkei 225 Index climbed 0.5% to around 38,400 while the broader Topix Index gained 0.2% to 2,791 on Wednesday, with Japanese shares rising for the fourth straight session as signs of progress in US-China trade talks supported market sentiment. US Commerce Secretary Howard Lutnick said that two sides have reached a framework to implement the Geneva consensus and the call between their respective presidents. On the domestic front, Japan's producer prices rose 3.2% year-on-year in May, the slowest pace in eight months, easing some inflation concerns. Meanwhile, Bank of Japan Governor...
Asia-Pacific markets climbed Wednesday as investors continue to track trade discussions between the U.S. and China, which U.S. Commerce Secretary Howard Lutnick described as being "productive." The talks between officials from both superpowers had continued for a second day in London on Tuesday. U.S. Treasury Secretary Scott Bessent said he was departing the ongoing trade talks, but Lutnick and U.S. Trade Representative Jamieson Greer would remain to continue the negotiations. Discussions could extend into Wednesday if needed, Lutnick said previously. Japan's benchmark Nikkei 225 started...
US stocks finished higher on Tuesday as investors kept a close watch on US-China trade talks, buoyed by comments from Commerce Secretary Howard Lutnick, who said negotiations were going "really, really well." The S&P 500 climbed 0.5%, marking 3rd day wining streak, while the Dow added 105 points and the Nasdaq advanced 0.6%. Talks in London stretched into a second day, with both sides working late to finalize technical details, fueling optimism over a potential agreement to avoid further tariff escalation. Energy led sector gains, followed by consumer discretionary and health care,...
Stocks rose on Tuesday as investors awaited more insight into trade talks between the U.S. and China. The Dow Jones Industrial Average rose 51 points, or 0.1%. The S&P 500 rose about 0.3% along with the Nasdaq Composite Talks between U.S. and Chinese officials in London continued for a second day. U.S. Commerce Secretary Howard Lutnick said Tuesday that discussions were "going well, and we're spending a lot of time together" and that he expected talks to continue throughout the day. Traders are watching the discussions for signs of a deal that doesn't involve the countries imposing...