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...
Asia-Pacific markets are set to mostly climb on Monday, with investors looking to several major central back decisions due this week including the Bank of Japan and the People's Bank of China. The Federal Reserve's decision on Dec. 18 stateside will also be top of mind for investors, with the CME Fedwatch tool forecasting a 96% chance of a 25-basis-points cut. The BOJ is likely to hold rates when it releases its decision on Thursday, while the PBOC will announce its loan prime rates on Friday. The one-year LPR influences corporate loans and most household loans in China, while the...
On Friday, the S&P 500 closed mostly flat, while the Nasdaq gained 0.1%. The Dow, however, dropped 86 points, extending its losing streak to seven sessions, marking its longest stretch since 2020. Losses in major tech stocks like Nvidia (-2.2%), Meta (-1.6%), and Amazon (-0.6%) weighed on the market, while Tesla saw a 4.3% surge, closing record high of $436.23. Broadcom surged 24.4%, hitting a $1 trillion market cap after reporting a 220% increase in AI-related revenue, exceeding expectations. This boost lifted semiconductor stocks, including Marvell (+10.8%) and Taiwan Semiconductor...
European markets closed lower Friday as investors reacted to disappointing data prints from two of the region's largest economies. The pan-European Stoxx 600 provisionally closed 0.62% lower, also recording a weekly loss after three weeks in the green. Friday's downbeat mood followed unexpected declines in both U.K. GDP and key export data from Germany. The U.K. economy contracted by an estimated 0.1% on a monthly basis, the ONS said Friday, with officials attributing the downturn to a decline in production output. Economists polled by news agency Reuters had projected a 0.1% rise in GDP...
The S&P 500 rose Friday, boosted by gains in tech, but the benchmark was still on track for its first weekly decline in four weeks. The broad market index was up 0.3%, and the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average advanced 101 points, or 0.2%. Broadcom gained around 20% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron and Nvidia followed Broadcom higher in early trading. The moves come on the heels of a losing session on Wall Street. The 30-stock Dow...
European markets opened lower on Friday as investors reacted to disappointing data from the region's two largest economies. The pan-European Stoxx 600 fell 0.18% after the opening bell, following an unexpected contraction in UK GDP and key export data from Germany. The UK economy contracted by about 0.1% on a month-on-month basis, the ONS said on Friday, with officials attributing the decline to a drop in output. Economists polled by Reuters had projected a 0.1% rise in GDP in October. On Thursday, the European Central Bank cut its main interest rate by 25 basis points, marking its fourth...