European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast,...
The Nikkei 225 Index climbed 0.5% on Thursday to surpass 36,200, reaching a one-month high as investors looked ahead to the Bank of Japan's latest monetary policy decision. The central bank is widely expected to keep its policy rate steady at 0.5%, as it assesses the possible effects of newly imposed US tariffs on Japan's export-reliant economy. Japanese shares also took cues from a positive lead on Wall Street , where investors brushed aside recession concerns after the US economy unexpectedly contracted in the first quarter. Adding to market optimism, hopes for progress in US-Japan trade...
The Nikkei 225 index rose 0.5% on Thursday to surpass 36,200, hitting a one-month high as investors awaited the Bank of Japan's latest monetary policy decision. The central bank is widely expected to keep its policy interest rate unchanged at 0.5%, as it assesses the likely impact of new U.S. tariffs on Japan's export-dependent economy. Japanese stocks also took cues from the upbeat outlook on Wall Street, where investors brushed aside recession fears after the U.S. economy unexpectedly contracted in the first quarter. Adding to market optimism, hopes for progress in U.S.-Japan trade talks...
The S&P 500 and Dow reversed early losses, rising 0.1% and 0.3%, respectively, to extend their winning streak to seven days, while the Nasdaq closed 0.1% lower. Investors shrugged off recession fears despite data showing the first quarterly economic contraction in three years. The U.S. economy shrank 0.3% in the first quarter, missing expectations as businesses rushed to import goods before Trump's tariffs took effect, while consumer spending rose a stronger-than-expected 0.7% in March, weak hiring and reduced government spending highlighting the growing economic headwinds. Among stocks,...
European stocks closed mixed on Wednesday, with the Stoxx 50 down 0.5% while the Stoxx 600 gained 0.5% for a seventh straight session, as investors digested a wave of earnings and downbeat U.S. economic data. Despite early losses, gains in health care and banking helped the market recover. Autos fell 1.2%, as weak earnings overshadowed President Trump's order to ease some auto tariffs. Health care stocks rose 1.3%, with GSK, AstraZeneca and Smith+Nephew saying they were prepared for the impact of tariffs. UBS beat expectations with earnings of $1.692 billion, while Barclays also beat...
US stocks were firmly lower on Wednesday after the US GDP unexpectedly contracted in the first quarter, underscoring the negative initial impact of tariff threats and uncertain economic policy by President Trump. The S&P 500 fell 2%, the Dow dropped nearly 600 points, and the tech heavy Nasdaq slumped 3% ahead of earnings releases among its key members. The US GDP contracted at an annualized 0.3% in the March quarter, contrasting with expectations of a 0.3% expansion amid softer consumer spending and soaring imports to undercut tariffs, while headline and core PCE prices accelerated...