Japanese stocks are lower due to a stronger yen and uncertainty over the impact of U.S. tariffs on corporate earnings. Auto, shipping and energy stocks lead declines. Mitsubishi Motors is down 2.1% and Kawasaki Kisen is 2.0% lower. Inpex is down 3.1% after crude oil prices fell overnight. USD/JPY is at 148.58, down from 148.81 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to the leadership election for the ruling Liberal Democratic Party of Japan set for Saturday. The Nikkei Stock Average is down 0.1% at 45007.00. Source: Bloomberg.com
Asian stocks moved mixed on Thursday after Wall Street rallied and pushed the S&P 500 to a new record. A decline in US producer price inflation (PPI) bolstered confidence that the Fed could cut interest rates again next week. Early in the session, Australia weakened while Japan fluctuated; US futures continued to edge higher. In the bond market, Treasuries stabilized after Wednesday's rally, while Australian and New Zealand debt strengthened. The dollar index tended to be flat and the yen strengthened against the greenback in early Asian trading—reflecting a "wait-and-see" mode ahead of...
The S&P 500 notched a second straight record-high close on Wednesday, as Oracle surged and cooler-than-expected inflation data supported expectations the U.S. Federal Reserve will cut interest rates next week. Oracle soared in its biggest one-day percentage gain since 1992 after the tech company pointed to a demand surge from AI firms for its cloud services. Its stock market value reached as high as $970 billion, leapfrogging the values of Eli Lilly, JPMorgan Chase and Walmart, and approaching Tesla's $1.1 trillion market value. AI-related chip stocks also rallied, with Nvidia,...
European stocks closed mostly lower on Wednesday with losses from tech, consumer defensive companies, and miners as markets continued to assess the outlook on global rates and geopolitical risk. The Eurozone's STOXX 50 closed dropped 0.2% to 5,378 and the pan-European STOXX 600 inched below the flatline to 552. The ECB is expected to leave borrowing costs unchanged tomorrow, though updated economic forecasts and guidance on the policy outlook will be closely watched. Geopolitical risks also remained in focus: Israel carried out strikes on Hamas targets in Qatar, while Poland intercepted...
The S&P 500 jumped to a fresh record on Wednesday after a reading on wholesale prices unexpectedly declined, a welcome development for investors clamoring for a Federal Reserve rate cut next week to boost the economy. Oracle shares led the gains with a more than 30% surge following an eye-popping forecast tied to artificial intelligence. The broad market index climbed 0.5%, while the Nasdaq Composite gained 0.3%. The Nasdaq, alongside the S&P 500, had reached a new all-time intraday high in the trading day. The Dow Jones Industrial Average lost 106 points, or 0.2%. Market sentiment...
The Hang Seng Index surged 262 points, or 1%, to close at 26,200 on Wednesday, rallying for a fourth straight session to a four-year high, driven by gains across all sectors. The index followed Wall Street's advance amid growing bets that recent US labor market weakness will prompt the Fed to cut interest rates by at least 25 basis points next week, with upcoming inflation data set to provide the final clue. In China, the sharpest CPI decline in six months in August rekindled hopes for fresh government support, potentially boosting the trade-in value of consumer goods, while producer...