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...
European markets opened higher on Monday, looking to recover from a tumultuous start to the year for stocks. The regional Stoxx 600 index rose 0.3% in early trade, while sector gains were led by technology and autos, up 1.4% and 1.3%, respectively. Finnish fuel producer Neste led the gains, rising nearly 5%, continuing its positive momentum after last week announcing its largest contract to supply sustainable aviation fuel. Source: CNBC
The Hang Seng fell 72 points, or 0.4%, to close at 19,688 on Monday after trading slightly higher in the morning, dragged down by losses across sectors. Sentiment turned sour as China's markets slumped to a near three-month low, down for a fourth session amid growing concerns over a sluggish recovery and trade risks as Trump returns to the White House. Limiting losses was a private sector survey that showed China's services activity rose the most in seven months in December, even as overseas orders fell and cost pressures increased. Meanwhile, the Shanghai and Shenzhen bourses met with...
Japanese stocks fell after the close on Monday, as losses in the Shipbuilding, Precision Instruments and Communications sectors led shares lower. At the close in Tokyo, the Nikkei 225 was down 1.65%. The best performers of the session on the Nikkei 225 were Ebara Corp. (TYO:6361), which rose 5.71% or 140.50 points to trade at 2,601.00 at the close. Meanwhile, Furukawa Electric Co., Ltd. (TYO:5801) gained 5.40% or 361.00 points to close at 7,046.00 and Suzuki Motor Corp. (TYO:7269) gained 5.17% or 92.50 points to 1,882.50 in late trade. The worst performers on the session were DeNA Co Ltd...
Asia-Pacific markets were mixed on Monday as investors assessed business activity figures from several key economies in the region. China's Caixin services purchasing managers' index from S&P Global rose to 52.2 in December, which marked the service sector's fastest expansion since May 2024. China's central bank said over the weekend it would implement a "moderately loose" monetary policy in 2025 as it seeks to boost growth. Separately, Hong Kong's PMI declined in December compared to the month before. December PMI figures for India will also be released Monday.Hong Kong's Hang Seng...
The au Jibun Bank Japan Services PMI was revised lower to 50.9 in December 2024 from a flash reading of 51.4. The latest result followed November's print of 50.5, marking the second consecutive month of growth in the service sector and the strongest pace since September. New orders increased for the sixth straight month, with the growth rate reaching its strongest since August. Employment also rose, marking the 15th month of gains, though the rise was modest. Meanwhile, outstanding business accumulated for the second month in a row, with the growth rate marginal but surpassing the long-run...