European stocks closed mostly higher to extend the positive momentum this week on strength in healthcare and luxury brands. The Eurozone's STOXX 50 inched higher to 5,651 and the pan-European STOXX 600 rose 0.5% to 570, both at record highs. Sanofi, Novo Nordisk, Merck, and UCB rose more than 2%, extending their surge this week after the US Presidential Administration signaled that tariffs on pharmaceutical goods may be less aggressive than feared, while allowing patients to buy discounted prescription drugs through a new federal website. Luxury giants were also higher as markets assessed...
US stocks closed lower Monday, unable to shake losses as investors weighed strong economic data against trade tensions and the upcoming Fed meeting. The S&P 500 and Nasdaq slipped 0.6% and 0.7% respectively, with the former snapping nine-day win streaks, while the Dow lost 98 points. Markets reacted to President Trump threatened new tariffs, including a 100% levy on foreign films, but sentiment improved following stronger-than-expected ISM services data. Still, uncertainty persisted after Trump said he has no plans to speak with China's President Xi, keeping investors cautious. Energy...
The S&P 500 moved lower to start the week as investors monitored the latest developments on global trade, including another surprise set of tariffs from President Donald Trump. The broad-market index shed 0.2%, while the Nasdaq Composite dipped about 0.3%. The Dow Jones Industrial Average gained 115 points, or nearly 0.3%, meanwhile. The major indexes cut losses after data Monday from the Institute for Supply Management reflected stronger-than-expected service sector activity in April, even as company executives reported rising concern about tariffs. At its lows, the Dow fell as much...
The Dow Jones Industrial Average (DJIA) rose another 100 points on Monday, extending the ongoing equity recovery even as investor sentiment continues to churn in the face of constantly changing trade policies from the US administration. The Federal Reserve (Fed) is poised to deliver another rate call this week, and Fed policymakers are broadly expected to maintain their wait-and-see approach. Rate markets have fully priced in another hold on rates this Wednesday. Trade policy inconsistency remains the single large cloud hanging over equity markets, keeping bullish momentum tepid overall. US...
A historic stock market rally stalled as President Donald Trump's latest tariff warnings did little to bolster sentiment as investors braced for the economic and corporate earnings effects of his trade war. Even data showing a pickup in U.S. service provider growth failed to lift sentiment, with the S&P 500 snapping its longest winning streak in about 20 years. While Trump hinted some sort of trade deal could be reached this week, he signaled no immediate deal with China. As the president expanded his restrictions on U.S. imports to entertainment, shares of companies such as Netflix...
European stocks opened mixed on Monday, with U.K. markets closed for a bank holiday, as investors awaited fresh economic data and corporate earnings reports due later in the week. Germany's DAX was last up 0.22%, while Italy's FTSE MIB traded around the flatline and France's CAC 40 fell 0.43%. Santander announced Monday that Austria's Erste Group Bank has acquired about a 49% stake in Poland-based Santander Bank Polska and 50% of Polish asset manager Santander TFI. Erste Group shares were last up about 6.2%. Data released Monday showed that Swiss inflation fell to 0% in April from the...