The S&P 500 and Nasdaq 100 closed at new record highs on Thursday (July 24), up 0.1% and 0.2%, respectively. This was supported by Alphabet's strong earnings, which bolstered investor confidence in AI investments. Alphabet shares rose 1% after the company beat second-quarter expectations and raised its 2025 capital spending forecast by $10 billion, lifting shares of other tech giants like Microsoft, Nvidia, and Amazon. Tesla fell 7.9% after CEO Elon Musk warned of challenging quarters ahead. The Dow Jones Industrial Average weakened, dropping 270 points, pressured by an 8% drop in IBM...
Asia-Pacific markets mostly fell Thursday, with investors assessing the fall in Japan's exports for the second consecutive month, as well as U.S. President Donald Trump's denial of his intent to fire Jerome Powell as Federal Reserve chairman. The U.S. President on Wednesday denied the possibility of such a move, hours after he told a room full of Republican lawmakers that he would fire Powell. "We're not planning on doing it," he said at a meeting with Bahrain's Crown Prince Salman bin Hamad Al Khalifa at the White House. "I don't rule out anything," he added, "but I think it's highly...
The Nikkei 225 Index dropped 0.5% to around 39,439, while the broader Topix Index fell 0.1% to 2,816 during Thursday morning trading, as traders remained cautious after US President Trump signaled his intention to impose a 25% tariff on Japan. The index hit its lowest level in over three weeks, after being flat in the previous session. Caution was also built ahead of Japan's upcoming Upper House election on July 20. The latest trade data further pressured sentiment, as the trade surplus narrowed in June compared to the same month last year. Exports unexpectedly fell, while imports rose...
Stocks in the US closed higher on Wednesday after President Trump denied plans to fire Federal Reserve Chair Jerome Powell, though he stopped short of ruling it out entirely. The S&P 500 climbed 0.3%, while the Dow rose 231 points and the Nasdaq 100 edged up 0.1% to mark fresh record close. Markets had initially dipped on reports suggesting Trump was weighing Powell's removal, compounding investor concerns over persistent inflation and ongoing trade tensions. June's flat Producer Price Index provided some relief after Tuesday's hotter-than-expected CPI reading, which showed the fastest...
US stocks edged higher Wednesday afternoon after President Trump denied plans to fire Federal Reserve Chair Jerome Powell, though he stopped short of ruling it out entirely. The S&P 500 rose 0.2%, rebounding from earlier losses, while the Dow gained 150 points and the Nasdaq 100 added 0.1%. Markets initially dropped on reports that Trump was considering Powell's removal, adding to existing anxiety over sticky inflation and trade tensions. The Producer Price Index came in flat for June, offering some relief after Tuesday's hotter-than-expected CPI report, which showed the fastest annual...
The Hang Seng Index fell 72 points, or 0.3%, to close at 24,518 on Wednesday (July 16th), down from a four-month high reached earlier in the session as traders booked profits. The decline ended a four-day winning streak, with sentiment weighed down by falling US futures prices following June inflation data, which indicated that tariffs may push prices higher and dampen expectations of a Fed rate cut. Meanwhile, President Trump said he may impose tariffs on pharmaceutical products by the end of July, with levies on semiconductors likely to follow soon after. He predicted these targeted...