US stocks closed mixed on Tuesday (July 22nd), as the S&P 500 hit a new record, rising nearly 0.1%, the Dow Jones Industrial Average rose 170 points, and the Nasdaq 100 fell 0.5% ahead of key earnings reports from Alphabet and Tesla. Chip stocks weighed on the Nasdaq, with Nvidia down 2.4% and Broadcom down 3.3% following reports that SoftBank and OpenAI's massive AI project was stalled. Shares of Lockheed Martin (-10.8%) and Philip Morris (-8.2%) fell sharply after disappointing results. General Motors (-8%) also warned of a deeper impact on profits related to tariffs after a 32%...
US stocks pulled back on Friday as markets assessed how the corporate sector will fare against a longer period of high interest rates and potential tariffs against the EU and China. The S&P 500 and the Dow were each 0.7% lower and the Nasdaq 100 lost nearly 1%, tracking another session of sharp selling for US Treasuries. The Magnificent 7 continued to trade in volatile fashion as Meta, Amazon, and Tesla lost between 2% and 0.7%. The view of a resilient US economy added to the fallout of hawkish projections by the FOMC as rate futures showed that a large portion of the market only sees...
The Hang Seng Index closed almost flat at 20,096 on Friday (12/27) after rising in the previous two sessions, with gains in the technology, property and consumer discretionary sectors offsetting losses in the financial sector. Traders digested a report that the World Bank raised its forecast for China's economic growth to 4.9% in 2024 and 4.5% in 2025 but warned of challenges such as weak demand, weak consumer sentiment and high local government debt. Meanwhile, the latest data showed that China's industrial profits fell 4.7% year-on-year in the first 11 months of this year, sharply higher...
European stocks traded lower on Friday as markets resumed trading after the Christmas holiday. The Stoxx 50 and Stoxx 600 each fell 0.1%, with most sectors and major bourses in negative territory. This followed a shortened session at the start of the week due to Christmas Eve, with many traders still away for the holiday season. As 2024 winds down, attention turns to the final trading days, New Year's Day on Tuesday, and the outlook for monetary policy from the European Central Bank and the Federal Reserve. Market watchers are also watching for potential tariff changes under U.S....
The Nikkei 225 jumped 1.8% to close at 40,281 on Friday, marking a second straight day of gains and hitting its highest since mid-October, with most sectors contributing to the rally. The broader Topix index rose 1.3% to close at 2,802, as a weaker yen boosted exporters and fueled broad gains. Meanwhile, BOJ Governor Kazuo Ueda reiterated the need to monitor economic risks but refrained from providing clear guidance on future interest rate hikes. On the data front, Japan's retail sales grew the most in three months in November, while industrial output fell less than expected. However, a...
The Hang Seng Index rose for a third day, rising 0.2%, or 49.15, to 20,147.44 in Hong Kong. Xiaomi Corp. was the biggest contributor to the index's gain, rising 5.3%. Lenovo Group Ltd. was the biggest gainer, rising 7.8%. In midday trading, 37 of 83 stocks rose, while 41 fell; two of four sectors rose, led by trade and industrial stocks. Source: Bloomberg