The Dow Jones Industrial Average (DJIA) hit another weak patch on Monday, backsliding nearly 500 points and slipping back below the 47,000 handle to start the new trading week with many of the same questions from last week going unanswered. The AI segment continues to see new challenges amid concerns about endpoint revenues, and investors are hoping that a kickstart to official data sources following the reopening of the federal government will help push the Federal Reserve (Fed) to deliver a third straight interest rate cut in December. Alphabet shares supported by Berkshire...
That the US and China were nearing a trade deal triggered a cross-asset rally, lifting stocks, oil and copper along with China-exposed currencies such as the Australian dollar. Treasuries and gold dropped. Asian shares rose 0.8% with stocks in Japan and South Korea jumping by around 2%. Futures for the S&P 500 and the Nasdaq 100 advanced after both underlying indexes closed at a record high last week. Futures for US copper — a bellwether for global growth — surged, as did oil, with the potential US-China deal bolstering the outlook for global demand. The...
Japanese stocks are expected to continue strengthening due to a combination of two factors favored by the market: a weakening yen and expectations of economic stimulus from Prime Minister Sanae Takaichi's government. Nikkei futures traded on the SGX were recorded as rising around 1.5%, while USD/JPY was trading around 153 per US dollar, weakening from its previous closing level. A weak yen is usually good news for Japanese exporters because their dollar sales appear larger when converted into yen. On the political front, market participants are closely monitoring the economic measures being...
Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
European stocks closed slightly higher on Friday amid a mix of corporate earnings reports, while markets assessed the outlook for European growth and interest rates. The STOXX 50 edged up to 5,674, and the STOXX 600 gained 0.2% to close at a record 575. Sanofi rose 3% on better-than-expected third-quarter earnings, and Saab jumped 6% after raising its full-year organic sales forecast. NatWest also jumped 5% on higher third-quarter earnings and an improved performance target. ENI also jumped nearly 2% after releasing its earnings results. Meanwhile, Safran fell 1.4% despite beating analysts'...
European stocks edged lower Friday afternoon after briefly hitting record intraday highs, as investors digested corporate earnings and economic data amid hopes that US–China trade tensions may ease when Presidents Trump and Xi meet next week. The STOXX 50 fell 0.3% to 5,660, while the STOXX 600 hovered near 574. For the week, the STOXX 50 added 1% and the STOXX 600 gained 1.5%. Among corporate movers, Sanofi rose 2.7% on a Q3 profit beat, Saab surged 7% after raising its full-year organic sales forecast, and NatWest gained 3.3% on higher Q3 profits and an upgraded performance target. Vinci...