The Dow Jones Industrial Average (DJIA) hit another weak patch on Monday, backsliding nearly 500 points and slipping back below the 47,000 handle to start the new trading week with many of the same questions from last week going unanswered. The AI segment continues to see new challenges amid concerns about endpoint revenues, and investors are hoping that a kickstart to official data sources following the reopening of the federal government will help push the Federal Reserve (Fed) to deliver a third straight interest rate cut in December. Alphabet shares supported by Berkshire...
The Nikkei index weakened 0.4% to 48,397.29 in early trading, following Wall Street's overnight decline that sparked risk-off sentiment. According to Commerzbank Research analysts, the market is still searching for new catalysts amid a lack of US data releases due to the government shutdown, so the short-term direction is likely cautious. Several stocks led the decline: SBI Holdings -3.6%, Sugi Holdings -3.3%, and Sumitomo Forestry -2.7%. In the forex market, USD/JPY was around 153.15 (vs. 153.08 in New York), indicating a persistently weak yen—a factor that typically helps exporters, but...
Asia-Pacific markets mostly weakened on Friday, following Wall Street's decline as investors assessed economic conditions. The Nikkei 225 fell 0.33% and the Topix fell 0.92%; Australia's ASX 200 fell 0.26%. Hang Seng futures signaled a lower open at 26,354 (vs. the previous close of 26,752.59). In Korea, the Kospi closed 0.66% after a holiday, while the Kosdaq fell 0.37%. In the US overnight, the rally paused as the S&P 500 and Nasdaq Composite retreated from intraday records. The general market index fell 0.28% to 6,735.11 and the tech index fell 0.08% to 23,024.63, while the Dow Jones...
US stocks pulled back on Thursday as investors paused to digest optimism around AI, interest-rate cuts, and the ongoing government shutdown. The S&P 500 lost 0.3%, the Nasdaq 100 down 0.1%, retreating from record highs reached in the prior session, and the Dow Jones fell 243 points. Market sentiments fell due to the shutdown, which has delayed key economic data, shifting focus to upcoming third-quarter earnings for insights into the economy and the AI-driven rally. Apple, Alphabet, Tesla, and Walmart all lost more than 0.7%, while PepsiCo rose 4.2% after stronger-than-expected revenue...
European stock markets were trading mostly lower on Thursday, as a privatization bid by HSBC for its Hong Kong-based subsidiary dragged down the wider banking sector in the region. The pan-European Stoxx 600 declined by 0.4% and the FTSE 100 in the United Kingdom shed 0.3%. HSBC, Europe's biggest lender, said it had put forward a proposal to shareholders that would make the entity, Hang Seng Bank, a "wholly owned subsidiary" of its Asia Pacific arm. Hang Seng, in which HSBC already has a 63% stake, would also be delisted from the Hong Kong Stock Exchange, the lender added. London-listed...
The S&P 500 and Nasdaq Composite reached new heights on Thursday as the market's march higher carries on. The broad market index hovered around the flatline, while the tech-heavy index dropped 0.2%. Both indexes had hit new all-time intraday highs earlier in the session. The Dow Jones Industrial Average climbed 50 points, or 0.1%. Costco shares gained 2% after the big-box retailer delivered solid September sales data, with total net sales for the five weeks ended Oct. 5 posting a notable increase versus last year. Delta Air Lines jumped 6% on better-than-expected earnings. The S&P...