The Dow Jones Industrial Average faced renewed downside pressure on Tuesday, tumbling 680 points from the previous day's close at its lowest before finding a half-hearted technical floor near 46,255. The major equity index has pushed into a fourth consecutive bearish day as investors face headwinds on multiple fronts. US labor data continues to tease around the edges of a steepening downturn after US Initial Jobless Claims came in within familiar territory, rising slightly to 232K from the previous print of 219K. ADP's Employment Change 4-week average improved to -2.5K from the previous...
The Nikkei 225 index fell 0.25% to close at 37,752 on Wednesday, reversing earlier gains after the Bank of Japan kept interest rates unchanged, citing uncertainty over the potential impact of U.S. tariffs on Japan's export-driven economy. While the central bank reiterated expectations for above-potential economic growth, it also acknowledged signs of weakness. The monthly Reuters Tankan survey showed sentiment among Japanese manufacturers turned negative in March due to concerns over U.S. trade policy and slowing economic activity in China. Meanwhile, Japan's trade balance swung to a surplus...
Hong Kong equities rose 30 points or 0.1% to 24,768 in early trading on Wednesday, trying to extend gains for the fourth session, driven mainly by financial stocks. The market held at its highest level in three years as U.S. futures inched higher following a weak Wall Street session, with investors cautiously awaiting the Federal Reserve's interest rate decision. In China, the PBoC is anticipated to keep its key lending rates at record lows during Thursday's monthly review. Meanwhile, Beijing's broad initiative to spur consumption and reduce the effects of rising tariffs continued to...
The Nikkei 225 gained 0.6% to surpass 38,000, while the broader Topix Index rose 0.8% to 2,805 on Wednesday, extending recent gains as investors awaited the Bank of Japan's latest monetary policy decision. The central bank is widely expected to keep interest rates steady at 0.5% amid ongoing global economic and trade uncertainties. The monthly Reuters Tankan survey revealed that sentiment among Japanese manufacturers turned negative in March due to concerns over US tariff policies and economic weakness in China. Meanwhile, data showed that Japan's trade balance swung to a surplus in...
Stocks pulled back Tuesday as a sell-off that has engulfed Wall Street in recent weeks resumed after two straight winning sessions. The Dow Jones Industrial Average lost 260 points, or 0.6%. The S&P 500 shed 1%, nearing correction territory. The Nasdaq Composite dropped 1.7%. Tesla, one of the stocks hardest hit during the market's recent correction, was down yet again on Tuesday. The stock fell more than 5% after RBC Capital Markets lowered its price target on the electric vehicle name, citing rising competition in the EV space. It's declined more than 36% over the past month. The...
Stocks pulled back Tuesday as a sell-off that has engulfed Wall Street in recent weeks resumed after two straight winning sessions. The Dow Jones Industrial Average lost 416 points, or 1%. The S&P 500 shed 1.3%, nearing correction territory; it traded 8.8% below its record. The Nasdaq Composite dropped 1.8%.Tesla, one of the stocks hardest hit during the market's recent correction, was down yet again on Tuesday. The stock fell almost 5% after RBC Capital Markets lowered its price target on the electric vehicle name, citing rising competition in the EV space. It's declined about 36% over...