US stocks closed mixed on Tuesday (July 22nd), as the S&P 500 hit a new record, rising nearly 0.1%, the Dow Jones Industrial Average rose 170 points, and the Nasdaq 100 fell 0.5% ahead of key earnings reports from Alphabet and Tesla. Chip stocks weighed on the Nasdaq, with Nvidia down 2.4% and Broadcom down 3.3% following reports that SoftBank and OpenAI's massive AI project was stalled. Shares of Lockheed Martin (-10.8%) and Philip Morris (-8.2%) fell sharply after disappointing results. General Motors (-8%) also warned of a deeper impact on profits related to tariffs after a 32%...
The Hang Seng dipped 190 points or 1.0% to close at 18,874 on Monday, marking its sixth session of declines amid a marked fall in US futures, as a strong US payrolls report pushed up bond yields and reduced hopes for further interest rate cuts. The index fell to its lowest in nearly four months, with widespread losses across sectors following the third straight fall in mainland markets, which edged closer to a bear market. However, the index pared some of its earlier losses after PBoC Governor Pan Gongsheng said China would promote consumption in the economy. He also mentioned that the...
Asia-Pacific markets traded lower Monday, after U.S. jobs report on Friday dampened investors' hopes for early interest rate cuts by the Federal Reserve. Hong Kong's Hang Seng Index fell 1.6%, trading below 19,000 for the first time since last September, data from LSEG showed. Mainland China's benchmark CSI 300 dropped 0.75%, having closed at its lowest level since September 2024 on Friday. China is slated to release its December trade data later in the day, while India is expected to report its inflation numbers. Japan markets are closed for a holiday. South Korea's Kospilost 0.85% while...
U.S. stocks sold off on Friday, with the S&P 500 erasing its 2025 gains, after an upbeat jobs report stoked fresh inflation fears, reinforcing bets that the Federal Reserve will be cautious in cutting interest rates this year. Wall Street's main indexes closed their second consecutive week in the red. The Dow Jones Industrial Average (.DJI), fell 696.75 points, or 1.63%, to 41,938.45, the S&P 500 (.SPX), lost 91.21 points, or 1.54%, to 5,827.04 and the Nasdaq Composite (.IXIC), lost 317.25 points, or 1.63%, to 19,161.63. The domestically focused small-cap Russell 2000 index...
The STOXX 50 and STOXX 600 fell nearly 1% on Friday, driven lower by a stronger-than-expected U.S. jobs report that reinforced the Federal Reserve's cautious stance on future rate cuts. This, combined with inflation concerns, the ongoing UK debt market crisis, and uncertainty over President-elect Trump's potential tariff policies, weighed heavily on investor sentiment. Most sectors and bourses were in the red, with utilities and food & beverage stocks dropping 2.3%, while autos were the exception, rising 0.48%. Major companies like LVMH (-0.7%), SAP (-0.9%), and ASML Holding (-1.3%)...
US stocks fell on Friday, with the S&P 500 down 07%, the Dow Jones down about 230 points and the Nasdaq down 1%, after a better-than-expected jobs report underscored the resilience of the US labor market, reinforcing the Federal Reserve's cautious approach to further interest rate cuts. The US economy unexpectedly added 256,000 jobs in December, well above the 160,000 forecast, and the unemployment rate unexpectedly fell to 4.1% from 4.2% while wage growth slowed to 0.3% as expected. Traders expect the Fed to leave the federal funds rate steady through the second half of the year....