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...
Stocks in Hong Kong edged up 27 points, or 0.1%, to 26,186 in Wednesday morning trade, trying to reverse losses from the prior two sessions as most sectors advanced. Bargain hunting, particularly in property stocks, helped lift the market from its near two-week low. Investors were also encouraged by modest gains in China's markets after a drop in the previous session, following a press briefing by top financial regulators, including the PBoC governor, that offered no new support measures. However, overnight losses on Wall Street limited gains after remarks from Federal Reserve Chair Jerome...
Japanese indexes corrected on Wednesday, with the Nikkei 225 down 0.1% to ±45,450 and the Topix down 0.5% to 3,147, erasing the previous session's gains. Pressure came from Wall Street, which retreated from record highs after Fed Chairman Jerome Powell highlighted overpriced valuations and uncertainty about the direction of interest rate cuts amid a complex policy environment.Sentiment was also weighed down by doubts about the sustainability of the AI-driven rally that has been driving major US technology stocks. Investors in Japan tended to reduce risk ahead of the next round of global data...
Asia-Pacific markets fell Wednesday, tracking Wall Street declines after U.S. Federal Reserve Chair Jerome Powell said that "equity prices are fairly highly valued." Powell also signaled that the rate-cutting path wasn't clear and that the central bank faces a "challenging situation." Australia's ASX/S&P 200 lost 0.61%. Japan's benchmark Nikkei 225 slipped 0.33%, while the Topix lost 0.35%. South Korea's Kospi lost 0.11%, while the small-cap Kosdaq traded 0.39% lower. Hong Kong's Hang Seng Index was set to open higher, with its futures contract last traded at 26,188 against the...
A record-breaking US stock rally stalled on Tuesday, as investors weighed cautious comments from Federal Reserve officials and concerns about the sustainability of AI-driven commerce. The S&P 500 fell 0.5%, the Nasdaq 100 fell 0.7%, and the Dow Jones Industrial Average fell 88 points. Nvidia fell 2.8% after a Monday surge linked to its $100 billion OpenAI investment, as investors questioned the deal's structure and energy demand, while Oracle and Amazon fell 4.1% and 3.1%, respectively. On the positive side, Kenvue rose 1.7% after paring losses from Trump's criticism of Tylenol, and...
European stocks touched their highest in more than a week on Tuesday, lifted by a rally in luxury goods companies on higher U.S. spending and gains for wind energy stocks after a court ruled that Orsted could restart work on a U.S. offshore project. The pan-European STOXX 600 closed up 0.4%, after having touched its highest since September 16 earlier in the session. Most regional bourses also closed higher. Portugal stocks closed at their highest in more than three weeks after the country kept its budget surplus target for 2025, allowing it to continue reducing its debt ratio. Meanwhile,...