The Dow Jones Industrial Average (DJIA) hit another weak patch on Monday, backsliding nearly 500 points and slipping back below the 47,000 handle to start the new trading week with many of the same questions from last week going unanswered. The AI segment continues to see new challenges amid concerns about endpoint revenues, and investors are hoping that a kickstart to official data sources following the reopening of the federal government will help push the Federal Reserve (Fed) to deliver a third straight interest rate cut in December. Alphabet shares supported by Berkshire...
The Nikkei 225 index fell 0.14% to close at 50,843 on Tuesday (November 11), losing gains from earlier in the session as investors took profits from rising tech stocks amid ongoing concerns over high AI valuations. Significant losses were seen in AI-related stocks such as Kioxia Holdings (-0.9%), Fujikura (-6%), Advantest (-4.1%), and Disco Corp (-4.5%). In corporate news, Honda Motor shares rose 0.8% even after cutting its full-year profit forecast amid pressure from US tariffs and a global chip shortage, while facing increasing competition from Chinese electric vehicle manufacturers. Sony...
Shutdown AS Reda, Investor Asia Gaspol Lagi? The reopening of the US federal government is approaching. This has given investors relief as official economic data will begin to flow again, providing clues to the direction of monetary policy. Risk sentiment is strengthening: the Hang Seng Index is nearing a one-month high of 26,651, while the Hang Seng Tech index edged up 0.3%. In mainland China, the CSI 300 and Shanghai Composite Index fell 0.2%. Blue-chip stocks rose: Baidu +2.9%, Xiaomi +2.2%, HSBC +2.0%, and AIA +1.7%. The boost comes from news that the US Senate is advancing plans to...
Asian stocks advanced for a second consecutive day as progress toward ending the record-long US government shutdown lifted sentiment, sparking a cross-asset rally from commodities to cryptocurrencies. Shares in Japan, South Korea and Australia all rose at the open. The S&P 500 rose 1.5% on Monday and the Nasdaq 100 added 2.2%. The MSCI All Country World Index had its best day since late June and a Bloomberg gauge of commodity prices rose to the highest level since August 2022. An index of the dollar weakened on Monday,...
Japanese stocks are higher thanks to the yen's recent weakening and hopes for stronger domestic earnings. Tech and electronics stocks are leading the gains. SoftBank Group is up 3.0% and Lasertec is 1.8% higher. USD/JPY is at 154.16, compared with 153.96 as of Monday's Tokyo stock market close. Investors are closely watching quarterly corporate results. Sony Group and Kawasaki Heavy Industries are set to release their earnings later Tuesday. The Nikkei Stock Average is up 0.8% at 51336.61. Source: Dow Jones Newswires
US stocks started the week strongly, with the S&P 500 rising 1.6%, the Nasdaq gaining 2.4%, and the Dow Jones Industrial Average rising about 415 points after the Senate approved a procedural move that brings a funding bill to reopen the government and end the 40-day shutdown one step closer to passage. Eight Democrats dissented from the House leadership in support of the motion, but the bill still needs a vote in the House. Artificial intelligence-related technology stocks led the rally, with Nvidia (5.8%), Palantir (8.8%), AMD (4.5%), and Micron (6.5%) among the biggest gainers as...