European stocks rose on Wednesday for the first time in three sessions, with the STOXX 50 climbing 1% and the STOXX 600 up 0.9%, as a trade agreement between the US and Japan sparked hopes for further deals and reduced tariffs. President Trump said that Japan had agreed to a 15% tariff on its exports to the US, alongside a commitment to invest $550 billion into the US and open its markets to key American goods. The US President also said that representatives from the European Union were coming for trade negotiations today. Megacaps were mostly higher, including ASML Holding (1.4%), Nestle...
U.S. stocks dipped on Thursday as a jump in the prior session cooled, while investors eyed the most recent corporate earnings and gauged economic data to determine the path of Federal Reserve rate cuts. A benign reading on inflation calmed fears about a renewal in price pressures and strong bank earnings helped the three major U.S. indexes notch their biggest one-day percentage gain since Nov. 6 on Wednesday. Morgan Stanley (MS.N), advanced 4.03% after the lender said earnings increased in the fourth quarter, propelled by a wave of dealmaking, while Bank of America (BAC.N), shares declined...
European markets closed higher Thursday, with luxury stocks soaring on strong results from Cartier owner Richemont The regional Stoxx 600 index provisionally ended the day 0.93% higher, with most sectors in positive territory. Retail stocks pared earlier gains to fall 0.2%. Luxury sector bellwether Richemont jumped 16% after reporting a better-than-expected 10% increase in fiscal third-quarter sales, while France's LVMH, Kering and Christian Dior all rising. Retailers Moncler, Burberry, Swatch and Hermes also crowded around the top of the Stoxx index. Technology stocks closed 1.9% higher,...
US stocks rose slightly on Thursday, with the three major indexes up about 0.1%, following strong gains the previous day. Traders digested the latest economic data while remaining optimistic that the Federal Reserve has room to implement further interest rate cuts this year. Retail sales rose less than anticipated last month and initial claims came in above estimates. Tech stocks such as Nvidia (1.5%) and Super Micro Computer (2.7%) rose, supported by a positive outlook from Taiwan Semiconductor Manufacturing. Meanwhile, earnings season continued with Bank of America shares rising 0.1%...
The STOXX 50 rose 0.9% and the STOXX 600 gained 0.6% on Thursday, in line with a rise in global equities. The rally was driven by optimism following the U.S. CPI report, which reinforced expectations that the Federal Reserve has room to continue cutting interest rates this year. Meanwhile, traders were also focused on corporate results, with Richemont shares jumping more than 15% after the luxury company reported a 10% jump in Q3 sales. The luxury sector received a boost from the news, with LVMH (8%), Kering (9%), Moncler (7.6%) and Hermes (5.1%) surging. ASML Holding (3.5%), L'Oreal (2.6%)...
The Hang Seng rose 237 points, or 1.2%, to close at 19,523 on Thursday (16/1), marking its third straight day of gains after a strong session on Wall Street on Wednesday, amid growing bets on a potential Fed rate cut this year following a slowdown in U.S. core inflation. The index was at its highest in a week after dropping to a nearly four-month low last week, boosted by reports from Chinese state media that the central bank may cut RRRs for commercial banks before the Spring Festival in late January, providing more liquidity for the economy. Traders shrugged off news that the U.S....