US stocks maintained modest gains on Tuesday (July 29) as the market digested a series of earnings reports ahead of key economic developments. The S&P 500 rose 0.3% to 6,400 and the Nasdaq 100 gained 0.5% to break through 23,400, both reaching record highs, while the Dow Jones Industrial Average hovered near the flatline. Union Pacific jumped 2% after agreeing to acquire Norfolk Southern in the largest railroad deal in the US. Meanwhile, tech giants mostly gained ahead of earnings results from the world's largest companies by market capitalization this week, including Microsoft,...
The Hang Seng rose 167 points or 0.8% to close at 21,562 on Tuesday, swinging from early declines amid a jump in U.S. futures. The recovery followed a rout on Wall Street Monday, after President Trump intensified pressure on Fed Chair Jerome Powell, labeling him a "major loser" and demanding immediate rate cuts. Investor sentiment also improved after reports suggested China's "national team" and retail investors stepped in to support mainland equities. All sectors ended in the green, led by property, financials, and consumer stocks. Wanda Hotel surged 9.7% after Tongcheng Travel agreed to...
Major bourses in Europe were lower on Tuesday, with both the STOXX 50 and the STOXX 600 down 0.6%, as investors returned from the Easter break amid renewed concerns over trade tensions, the economic outlook, and the independence of the Federal Reserve. President Trump intensified his criticism of Fed Chair Jerome Powell, increasing pressure on the central bank to cut interest rates, and fueling fresh concerns about its autonomy. Meanwhile, trade negotiations between the US and other countries over tariffs are ongoing. Investors are also closely watching the IMF Spring Meetings this week,...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 fell 0.14%. The best performers of the session on the Nikkei 225 were Hino Motors, Ltd. (TYO:7205), which rose 5.76% or 24.70 points to trade at 453.30 at the close. Meanwhile, Sumitomo Metal Mining Co., Ltd. (TYO:5713) added 4.98% or 151.00 points to end at 3,185.00 and Mitsubishi Corp. (TYO:8058) was up 3.88% or 94.50 points to 2,528.50 in late trade. The worst performers of the session were Taiyo Yuden Co.,...
European markets are expected to return from the long Easter weekend on a positive note. The U.K.'s FTSE 100 index is expected to open 60 points higher at 8,254, Germany's DAX up 253 points at 21,064, France's CAC 81 points higher at 7,241 and Italy's FTSE MIB 441 points higher at 34,967, according to data from IG. There are no major earnings or data releases from Europe Tuesday but traders will be keeping an eye on news and comment out of the IMF-World Bank Spring meetings in Washington this week, where the threat and fallout from U.S. President Donald Trump's tariffs regime is likely to...
Stocks in Hong Kong fell 104 points or 0.5% to 21,292 in early trade on Tuesday, following an overnight slump on Wall Street after U.S. President Trump intensified criticism of Fed Chair Powell, calling him "a major loser" for not cutting interest rates. Trading resumed in the city after the holiday break, weighed down by fresh tensions as China warned it would retaliate against any trade deals with the U.S. that undermine its interests. Losses were partially limited by comments from Premier Li Qiang, who urged officials to step up efforts to stabilize the stock market. Meanwhile, the...