European stock markets edged higher on Monday, as investors looked ahead to a trading week due to feature key economic data and a potential U.S. government shutdown. The pan-European Stoxx 600 had climbed by 0.3%, while the Dax in Germany gained 0.2%, the CAC 40 in France rose 0.1%, and the FTSE 100 in the U.K. increased around 0.2%. Shares of Britain's GSK rallied over 2%, boosting the wider health care sector, on news that the drugmaker's CEO Emma Walmsley will step down. Walmsley is due to be replaced by Luke Miels in January. AstraZeneca's stock price also ticked up after the U.K....
US stocks closed mixed on Wednesday (September 18) as investors weighed the Federal Reserve's interest rate outlook following an anticipated 25 bps rate cut. The S&P 500 and Nasdaq 100 fell 0.1% and 0.3%, respectively, while the Dow Jones Industrial Average rose 260 points, driven by gains in traditional sectors. The FOMC median projection suggests two more rate cuts this year, but strong growth, low unemployment, and upward revisions to core inflation raise doubts about the pace of easing in 2026. Chairman Powell also signaled caution, refraining from expressing confidence in further...
The S&P 500 and the Nasdaq hovered near the flatline while the Dow Jones gained almost 200 points on Wednesday, with traders refraining from making big bets ahead of the FOMC's policy decision later in the day. The Fed is widely expected to cut the fed funds rate by 25 bps, with investors closely watching for any dissents, signs of disagreement, and the updated dot plot for clues on the future policy path. On the data front, both housing starts and building permits came in weaker than expected. Utilities and consumer staples were the top performing sectors while consumer discretionary...
The Hang Seng jumped 470 points, or 1.8%, to finish at 26,908 on Wednesday, picking up from a subdued close in the previous session and hitting its highest level since mid-July 2021 amid a widely expected Fed rate cut later today and the prospect of further easing this year. The tech index surged 4.3%, reflecting optimism over China's AI progress and signs of easing trade tensions with the U.S. ahead of Friday's call between President Trump and Xi Jinping. Consumer shares also logged solid advances after Hong Kong leader John Lee pledged in his 2025 policy address to improve livelihoods,...
European stocks steadied after the previous day's decline, as investors cautiously awaited the Federal Reserve's interest rate decision later in the day. The Stoxx Europe 600 Index was 0.1% higher by 8:12 a.m. in London, after it fell the most in two weeks on Tuesday with tariff concerns back into focus. UK shares edged higher as data showed that inflation held at the highest level in more than one-and-a-half years in August. Fed officials are expected to lower interest rates for the first time this year to backstop a faltering US labor market. Focus will be...
The Nikkei 225 Index slipped 0.25% to 44,790 while the broader Topix Index fell 0.71% to 3,146 on Wednesday, retreating from record highs after weak trade data raised concerns over Japan's export-dependent economy. Exports edged down 0.1% in August, a smaller decline than expected but the fourth straight monthly drop, led by a 13.8% plunge in shipments to the US. Imports contracted 5.2%, moderating from July's 7.4% fall but still above the 4.1% drop forecast by analysts. Japanese stocks also tracked overnight losses on Wall Street as investors grew cautious ahead of the Federal Reserve's...