US stocks rallied on Wednesday (July 23), driven by optimism over a new trade agreement and strong corporate momentum. The S&P 500 rose 0.8% to a new record high, while the Nasdaq gained 0.7%. The Dow Jones Industrial Average surged 505 points, nearly reaching its own record high. The market welcomed news of a finalized trade deal between the US and Japan that includes reciprocal tariffs of 15%, with President Trump signaling similar progress in negotiations with the European Union. Reports suggesting a US-EU deal is nearing completion, mirroring Japan's framework, further boosted...
Japan's 10-year government bond yield surged above 1.17% on Wednesday, reaching its highest level since May 2011, mirroring the rise in US Treasury yields as strong US economic data reduced expectations for further Federal Reserve interest rate cuts. Domestically, investors are preparing for the Bank of Japan's branch managers' meeting this week and Deputy Governor Himino's speech next week, both of which are expected to provide further guidance on the rates outlook. BOJ Governor Kazuo Ueda recently reiterated that any policy adjustments will depend on economic, price, and financial...
The Nikkei 225 Index dropped 0.8% to fall below 39,800, while the broader Topix Index lost 0.7%, settling at 2,767 on Wednesday, reversing gains from the previous session as US Treasury yields surged. Japanese shares also mirrored a tech-driven selloff on Wall Street overnight, fueled by concerns over persistent inflation and reduced expectations of further interest rate cuts by the Federal Reserve. Investors in Japan are also looking ahead to local wage data this week, which could offer further insights into the Bank of Japan's monetary policy outlook. Notable losses were seen in index...
U.S. stocks closed down on Tuesday after a batch of upbeat economic data raised concerns that an inflation rebound could slow down the Federal Reserve's pace of monetary policy easing. Stocks gave up early gains after a Labor Department report showed job openings unexpectedly increased in November, while a separate report said services sector activity accelerated in December with a measure tracking input prices surging to a near two-year high. Benchmark 10-year Treasury yields hit an eight-month high at 4.677% after the data pointed to a strong economy. Signs of continued resilience in...
European markets closed higher on Tuesday as investors in the region digested inflation data and corporate earnings releases. The pan-European Stoxx 600 index provisionally ended the session up 0.34%, with mining, utilities and construction stocks among the few sectors in negative territory. Major bourses were in mixed territory, with the FTSE 100 down by around 0.09%. Annual inflation in the euro zone rose to 2.4% in December, a flash estimate from Eurostat showed on Tuesday, up from 2.2% in November. The print — which was in line with expectations, according to a Reuters poll of...
Most US stocks rose on Tuesday, with the S&P 500 up 0.4%, extending gains for a third session, the Dow Jones up nearly 130 points and the Nasdaq trading around the flatline. All sectors were in the green but energy and real estate outperformed. In the corporate sector, Nvidia shares rose 1.6%, following the CEO's announcement of new chips, software and services. On the other hand, Tesla fell nearly 0.7% after Bank of America downgraded the stock. Meanwhile, traders awaited the JOLTS report for additional insight into the performance of the labor market while continuing to evaluate...