European stocks declined on Wednesday, with both the STOXX 50 and STOXX 600 slipping nearly 0.2%, reversing modest gains from the previous session, with investors continuing to focus on fresh corporate earnings. Hermès fell more than 2% after its results disappointed investors, while L'Oréal dropped 0.8% following second-quarter sales that missed forecasts. HSBC tumbled 4.4% despite reporting revenue growth and announcing a $3 billion share buyback. Adidas sank nearly 8% after posting weaker-than-expected revenue growth and warning that tariffs would raise prices in the US. In contrast,...
The S&P 500 hovered near the flatline on Tuesday, while the Nasdaq rose 0.2% and the Dow Jones Industrial Average fell about 150 points, as enthusiasm for a 90-day U.S.-China tariff truce faded and investors digested the latest CPI report. April inflation was lower than expected, suggesting the impact of tariffs has not yet fully materialized.In response, traders increased bets on about a 55 basis point Fed rate cut this year. Consumer discretionary and technology stocks led gains, while health care underperformed. UnitedHealth shares plunged nearly 13% to a four-year low around $330...
The Hang Seng tumbled 441 points or 1.9% to close at 23,108 on Tuesday, ending an eight-sessions of gains as all sectors fell. Despite a Sino-U.S. trade truce that exceeded market expectations, traders grew uneasy about what may follow once temporary pause ends. Profit-taking also weighed on the market after the index hit a 1-1/2-month high in the prior session. A drop in U.S. futures further dented sentiment, ahead of key inflation data later today. Meanwhile, concerns over deflation risks in China mounted, as consumer prices fell for the third month in April and producer prices saw a...
European stock markets opened in positive territory on Tuesday (5/13) as uncertainty over the global trade outlook persisted despite a 90-day pause in the tariff dispute between the U.S. and China. The pan-European Stoxx 600 was 0.26% higher at 8:15 a.m. in London. The U.K.'s FTSE 100 was 0.12% higher, France's CAC 40 was 0.06% higher and Germany's DAX was up 0.16%. This comes after global markets rallied on Monday following news that Washington and Beijing had agreed to cut high tariffs for 90 days, raising hopes that a full-blown trade war could be averted. Asia-Pacific markets...
Japanese stocks rose after the close on Tuesday (5/13), as gains in the Real Estate, Banking and Textile sectors helped stocks advance. At the close in Tokyo, the Nikkei 225 gained 1.54%. The best performers on the Nikkei 225 were Furukawa Electric Co., Ltd. (TYO:5801), which rose 13.84% or 681.00 points to trade at 5,601.00 at the close. Meanwhile, Denka Co Ltd (TYO:4061) rose 9.84% or 191.00 points to close at 2,132.50 and Mitsubishi Motors Corp. (TYO:7211) gained 8.34% or 34.60 points to 449.60 at the close. The worst performers on the session were Sharp Corp (TYO:6753), which fell...
Hong Kong shares plunged 343 points, or 1.5%, to 23,205 during the morning session on Tuesday, ending an eight-day winning streak as investors locked in profits after the Hang Seng hit a 1-1/2-month high. U.S. futures also edged lower ahead of a key inflation report. At the same time, concerns over persistent deflation in China resurfaced after consumer prices fell for a third straight month in April, while factory-gate prices posted their sharpest drop in six months. However, losses were somewhat tempered by a significant lull in U.S.-China trade tensions after high-level talks, with the...