Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or 0.2%. The S&P 500 climbed 0.4%, and the Nasdaq Composite advanced 0.6%. AI-related stock Nvidia rose after skepticism around the AI trade put pressure on the broader stock market last week. Some traders even questioned whether there was enough energy to power an infrastructure plan between Nvidia and OpenAI. Nvidia was last up more than 2%. Meanwhile, shares of Electronic Arts jumped more...
US stocks weakened for a third session on Thursday, as investors weighed strong economic data against expectations of future Fed rate cuts. The S&P 500 and Nasdaq 100 each fell 0.5%, the Dow Jones Industrial Average fell 175 points, with all sectors except energy in negative territory. Initial jobless claims fell to 218,000 for the week ending September 20, signaling a resilient labor market, while second-quarter GDP growth was revised up sharply to 3.8% annualized, driven by strong consumer spending and business investment. Market participants are now recalibrating expectations for the...
European stocks closed sharply lower on Thursday, tracking declines in major equity markets amid concerns about rising global interest rates and new trade barriers with the United States. The Eurozone STOXX 50 fell 0.6% to 5,435, and the pan-European STOXX 600 fell 0.7% to 550. European yields rose sharply after strong US economic data dampened speculation of two more Federal Reserve rate cuts this year, pressuring credit-sensitive sectors, with Ferrari, Adidas, Stellantis, and Saint-Gobain all down more than 2%. Meanwhile, shares of biotechnology companies plunged after US authorities...
Stocks fell again on Thursday, bogged down by a further pullback in Oracle and Nvidia, as well as a jump in rates. The S&P 500 dropped 0.6%, while the Nasdaq Composite lost 0.9%. The Dow Jones Industrial Average shed 116 points, or 0.3%. Oracle and Nvidia saw more losses in the premarket, sliding nearly 4% and 1%, respectively. The two were on track to fall for a third straight day as questions over the state of the artificial intelligence trade lingered. The market action appears to be reflecting concerns about record-high valuations and potentially risky circular relationships in the...
The Hang Seng slipped 34 points, or 0.13%, to close at 26,485 on Thursday, swinging from a rally in the previous session and following a subdued morning trade. A retreat from record highs on Wall Street Wednesday rattled sentiment, ahead of the U.S. PCE Index, the Fed's preferred inflation gauge. Investors also turned cautious before China's National Day and mid-autumn holidays next week. Losses in property and financial shares weighed on the benchmark index, mirroring weakness in mainland stocks despite the central bank's action to conduct a CNY 600-billion one-year MLF operation to...
European stocks slipped into the red on Thursday, with both the STOXX 50 and STOXX 600 down 0.6%, following a subdued session the day before. Market sentiment turned cautious as traders weighed the monetary policy outlook—particularly from the Federal Reserve—amid a series of scheduled speeches from officials today. Economic data offered little support. Germany's GfK survey showed consumer confidence remains weak, while French figures also disappointed. In contrast, EU passenger car registrations rose in August. Sector performance was mixed. Healthcare led losses, with Siemens Healthineers...