Wall Street's three major indexes managed to close Tuesday's choppy session higher, marking quarterly and monthly gains, even as investors braced for a U.S. government shutdown, which would delay key economic reports and muddy the Federal Reserve's interest rate policy outlook. With investors having bet for some time on a spate of further Fed rate cuts, the benchmark S&P 500, the tech-heavy Nasdaq and the Dow all gained for the second quarter in a row. For the S&P 500 and the Dow, it also marked their fifth straight monthly gain while the Nasdaq registered its sixth straight monthly...
The Hang Seng Index opened 87 points higher, or 0.35%, at 24,946 points, while the National Enterprises Index rose by 23 points, or 0.26%, to 8,918 points. The Technology Index increased by 10 points, or 0.19%, to 5,470 points. In the technology sector, Alibaba saw a rise of 1.46%, Meituan gained 0.25%, and Kuaishou added 0.19%. Conversely, Xiaomi declined by 0.39%, and Tencent remained unchanged. Source : Dimsumdaily.hk
US stocks closed higher on Friday, with the S&P 500 up 0.8%, and the Nasdaq climbing nearly 1%, while the Dow gaining 206 points. Technology shares, led by Apple which surged 4.2% following its announcement of a $600 billion US investment plan helped lift the tech-heavy Nasdaq to new intraday highs. Investor optimism was also fueled by expectations of Federal Reserve rate cuts, with President Trump nominating Stephen Miran to the Fed Board, signaling possible shifts in monetary policy, despite concerns over new tariffs imposed by the Trump administration on imports from multiple...
European stocks closed firmly higher to record sharp gains in the first week of August as markets continued to assess the outlook of the European economy amid uncertain tariff levels by the US and policy reactions by the ECB. The Eurozone's STOXX 50 gained 0.4% to 5,354, a 3.6% gain on the week, while the pan-European STOXX 600 advanced 0.3% to 547, a 2.2% rise on the week. Banks continued to rise sharply in the session with BBVA, BNP Paribas, and UniCredit each gaining more than 2%. In the meantime, Siemens advanced 2.2% following a volatile week while Volkswagen, Mercedes-Benz, and...
U.S. stocks edged higher Friday as investors digested Trump's new selection to temporarily fill a vacancy on the Fed's Board of Governors and assessed an ebbing stream of corporate earnings. At 09:35 ET (13:35 GMT), the Dow Jones Industrial Average rose 145 points, or 0.3%, the S&P 500 index gained 16 points, or 0.3%, and the NASDAQ Composite climbed 52 points, or 0.3%. The main averages are on pace for weekly gains, with the tech-heavy NASDAQ Composite the star of the show, poised for a 2.9% gain before this session. The Trump administration's tariffs took effect from Thursday,...
The Hang Seng dipped 223 points or 0.9% to close at 24,859 on Friday, reversing gains from the prior four sessions amid broad-based losses. Sentiment soured ahead of the August 12 deadline for China to reach a lasting tariff deal with the Trump administration. Traders also remained cautious ahead of China's July CPI and PPI data due Saturday, with expectations for a slight drop in consumer prices amid weak demand and continued producer deflation due to lingering trade risks. The tech sector led losses, down around 1.5%, pressured by a nearly 8% plunge in chipmaker SMIC after disappointing...