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 Nikkei 225 Index gained 0.5% to surpass 37,900, while the broader Topix Index rose 0.4% to 2,807 in post-holiday trade on Friday. Japanese stocks advanced as they caught up with global market gains, following the US Federal Reserve's signal of two interest rate cuts this year. Fed Chair Jerome Powell also reassured markets that tariff-driven inflation is likely "transitory." Both the Nikkei and Topix are on track to climb over 2% and 3%, respectively, for the week. In economic data, Japan's core inflation slowed to 3% in February from 3.2% in January but still exceeded forecasts of...
Asia-Pacific markets opened mixed, as Wall Street losses and uncertainty around the U.S. economy continued to weigh on equities. Australia's S&P/ASX 200 traded 0.12% higher. Japan's Nikkei 225 rose 0.34% while the Topix added 0.27%. South Korea's Kospi slipped 0.16% while the small-cap Kosdaq dipped 0.86%. Hong Kong's Hang Seng index futures were at 24,065 also weaker than the HSI's last close of 24,219.95. Japan's headline inflation rose 3.7% year on year in February, easing from a two-year high of 4% seen in January. U.S. stock futures traded around the flatline after an attempt...
The S&P 500 ticked lower on Thursday as uncertainty around the U.S. economy continued to weigh on equities, thwarting the market's attempts at recovery from a monthlong rout. The broad market index pulled back 0.2%, while the Nasdaq Composite slid 0.3%, as Apple shares sank about 0.5%. The Dow Jones Industrial Average hovered around the flatline. Shares of Alphabet saw declines, weighing on the market. Meta Platforms and Nvidia, however, were outliers among the "Magnificent Seven" stocks, each rising almost 1%. The moves comes a day after the latest Federal Reserve meeting, at which...
European markets closed lower on Thursday, as global economic uncertainty cast a shadow over monetary policy announcements from the Bank of England, Swiss National Bank and Sweden's Riksbank. After a muted start, the regional Stoxx 600 closed 0.43% lower, snapping a four-day winning streak. Shipping giant Hapag-Lloyd posts 2024 profit decline, flags ‘challenging' environment | view postUK wage growth steady at expected 5.9% ahead of BOE decision | view postChina's central bank follows U.S. Fed in keeping rates steady as tariff threats pressure yuan | view postNorway's $1.8 trillion...
The S&P 500 was trading in the green on Thursday after some solid housing data eased some concerns about the U.S. economy sliding into recession. The broad market index rose 0.5%, and the Nasdaq Composite gained 0.7%. The tech-heavy index's gains were supported by gains in large-cap tech stocks such as Meta Platforms and Amazon, which rose about 4% and more than 1%, respectively. The Dow Jones Industrial Average was trading 217 points higher, or 0.5%. New economic data released Thursday suggested that economic concerns may have been overblown. Data from the National Association of...