European stocks posted slight declines on Monday (July 21st) as markets continued to assess the trade outlook in the European Union. The Eurozone STOXX 50 fell 0.3% to close at 5,342, and the pan-European STOXX 600 fell 0.1% to 546. US officials maintained the threat of 30% tariffs on EU exports while the EU Commission continued to negotiate lower tariffs ahead of the August 1st deadline. Meanwhile, the EU also signaled that aggressive retaliation would be pursued if no deal was reached, risking escalation and higher prices in the bloc. Shares of luxury goods giants led the decline in the...
The Nasdaq hit a record high Monday, led by Tesla (NASDAQ:TSLA) as investors look ahead to the last Federal Reserve policy meeting of the year.the Dow Jones Industrial Average was 38 points lower, or 0.1%, the S&P 500 index gained 1%, and the NASDAQ Composite climbed 1.1%, and earlier hit an record intraday high of 20,145.48.The Fed is widely expected to cut interest rates by 25 basis points at the conclusion of a two-day meeting on Wednesday, after the central bank kicked off an easing cycle earlier in the year. The move will bring rates down by a total of 100 bps in 2024. But focus...
European stocks closed firmly lower on Monday, extending the pullback from the last session as markets assessed the latest economic data ahead of monetary policy decisions from the Fed, BoE, and BoJ. The STOXX 50 dropped 0.4% to 4,948, while the STOXX 600 dropped 0.1% to 516. Flash PMIs for the Eurozone showed that private sector activity continued to contract in December, aligning with concerns of muted growth for next year. Also, Moody's downgraded France's credit rating to Aa3 from Aa2 over the weekend, citing concerns about weakened public finances amid ongoing political instability. In...
US stocks opened the week mostly higher, with the S&P 500 up 0.2%, the Nasdaq up 0.5%, and the Dow Jones holding near the flatline. Investors are focused on the Fed's policy decision, with another 25bps rate cut widely anticipated. The market will also be watching the latest economic projections, particularly the prospect of a rate cut in 2025. Several key economic indicators are also due this week, including the S&P Global PMI, retail sales, and PCE report. On the corporate side, Broadcom shares rose 5.5%, extending Friday's nearly 24% surge that pushed the chipmaker's market...
US stock index futures rose as investors anticipated another interest rate cut at the Federal Reserve's final meeting of the year and ahead of a busy week of economic data. Contracts on the S&P 500 Index rose 0.2% as of 5:24 a.m. in New York, while futures on the tech-heavy Nasdaq 100 rose 0.3% MicroStrategy Inc., Palantir Technologies and Axon Enterprise advanced in premarket trading after the announcement that the stocks would be added to the Nasdaq 100 in the index's annual restructuring. Bitcoin rose to a record high on President-elect Donald Trump's support for digital assets and...
The Hang Seng fell 176 points or 0.9% to end at 19,795 on Monday(16/12), ending lower for the second session to hit its lowest level since Dec.6. An unexpected slowdown in China's retail trade burdened sentiment, highlighting the ongoing struggles of the economy. Meanwhile, China's statistics agency said domestic demand remains weak amid challenging global conditions. All sectors dipped, dragged by tech, property, and consumers. Still, the slump was capped by a modest rise in US futures, with markets awaiting the Fed's interest rate decision this week. The central bank is expected to...