The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
European equity markets were poised for a subdued open on Wednesday, amid concerns that US President-elect Donald Trump could target European countries with tariffs following his recent threats against China, Mexico, and Canada. Investors were also cautious ahead of a key US inflation report that could influence the Federal Reserve's plans for rate cuts. Meanwhile, market participants will be focused on the latest consumer confidence data from Germany and France, as well as EasyJet's earnings report. In premarket trading, Euro Stoxx 50 futures dropped 0.15%, while Stoxx 600 futures were...
Shares in Hong Kong rose 100 points or 0.5% to 19,260 in early trade on Wednesday following a muted session the day before, mainly supported by gains in property, tech, and consumers. An upbeat session on Wall Street overnight uplifted sentiment, with the Fed's latest minutes being interpreted dovishly ahead of the October PCE index release. Investors were also hopeful that the PBoC would further lower commercial banks' RRR in December to bolster economic recovery in China, following two reductions totaling 100bps in September and February. Limiting the rise was fresh data showing a...
The Nikkei 225 Index dropped 0.5% to below 38,300, while the broader Topix Index lost 0.4% to 2,678 on Wednesday, extending losses from the previous session as the yen continued to strengthen amid speculation that the Bank of Japan may raise interest rates again next month. A stronger yen dampens the profit outlook for Japan's export-driven industries and makes Japanese assets more expensive for foreign investors. Traders are also awaiting the latest Tokyo inflation data, which is seen as a leading indicator for nationwide price trends. Export-heavy auto and consumer stocks led the decline,...
Dow Jones Industrial Average jumping to fresh highs, as investors shook off the threat of new tariffs from President-elect Donald Trump. The blue-chip Dow advanced 123.74 points, or 0.28%, to close at 44,860.31, reversing course after dropping more than 300 points at session lows. The S&P 500 added 0.57% to 6,021.63. Both the Dow and S&P 500 notched new intraday and closing records. The Nasdaq Composite jumped 0.63% to 19,174.30. Trump on Monday night called for a 25% tariff on products from Mexico and Canada, as well as an additional 10% levy on Chinese goods. He has already said...
European stock markets closed lower in Tuesday trading as the Stoxx Europe was down 0.57%, Germany's DAX dropped 0.56%, the FTSE in London fell 0.40%, France's CAC lost 0.87%, and the Swiss Market Index closed 0.39% lower. The European Union has agreed to new carbon market rules and new climate finance goal, the EU announced on Saturday. The deal is intended to provide for more countries to contribute finance based on their growing emissions and economic weight. And in corporate news, Luxembourg-based steel producer ArcelorMittal (MT) said Tuesday that it is slowing its carbon reduction...