US stocks closed higher on Monday as investors tried to stabilize the market following last week's losses driven by cracks in AI-related trading and concerns over new tariffs. The S&P 500 rose 0.2%, the Nasdaq 100 advanced 0.4%, and the Dow Jones added 69 points, supported by gains in tech and AI-focused companies such as Nvidia (+2.1%), AMD (+1.2%), and Micron Technology (+4.2%). Video game company Electronic Arts jumped 4.5% after announcing a $55 billion take-private deal, reflecting broader M&A momentum that has topped $1 trillion this year. Market participants are closely...
Asia-Pacific markets traded mostly higher Monday as investors assessed the resignation of Japan's prime minister and eyed key economic data in the region. Japan's benchmark Nikkei 225 rose 0.95% after Japanese Prime Minister Shigeru Ishiba announced his resignation Sunday, following weeks of mounting pressure over his national election defeat late last year. The Topix climbed 0.51%. The Japanese yen weakened 0.64% to 148.33 against the greenback. "Japan is now set for a period of extended uncertainty going into Q4 2025," wrote analysts from BMI, a unit of Fitch Solutions. "Although the...
US stocks closed lower on Friday after weaker-than-expected August jobs data raised concerns about a slowing economy, even as expectations for Federal Reserve rate cuts firmed. The S&P 500 gave up earlier gains, ending 0.3% lower and below Thursday's record close, the Dow dropped 220 points, while the Nasdaq 100 was flat. The economy added just 22K jobs, well below the 75K forecast, while the unemployment rate rose to 4.3%, highlighting a cooling labor market. Traders priced in a higher chance of interest-rate cuts, with bets rising on a potential 50bps reduction this month. Banks,...
European stocks closed on Friday, tracking the pullback in US equities after pessimistic labor data from the US sounded alarms over the world's largest economy. The Eurozone's STOXX 50 dropped 0.6% to 5,330, and the pan-European STOXX 600 fell 0.2% to 549. Nonfarm payrolls in the US were well under market expectations and the unemployment rate, which is under special scrutiny by the Federal Reserve, rose to a near-four-year high. The results backed bets of incoming cuts by the Fed, but such support was offset by concerns of a weakening economy and the pressure on export-oriented sectors in...
US stocks rallied on Friday (September 5th), with the S&P 500 rising 0.4% and the Nasdaq gaining 0.6% to new record highs, while the Dow Jones Industrial Average rose nearly 100 points as a weak jobs report reinforced expectations of a Fed rate cut this year. The US economy added only 22,000 jobs in August, well below the 75,000 expected, while the unemployment rate rose to 4.3%, the highest since 2021 and in line with expectations. The figures point to a cooling labor market and reinforce speculation that the Fed will cut interest rates later this month, with the market now pricing in...
The Hang Seng index surged 359 points, or 1.4%, to close at 25,418 on Friday, ending a three-day losing streak. Optimism improved after Wall Street's S&P 500 hit a record high on Thursday, with traders betting that the Fed would cut interest rates this month amid further signs of a weakening US labor market. For the week, the index also gained 1.4%, reversing the previous week's decline, supported by a CNY 1 trillion liquidity injection from China's central bank. Gains were capped by the sharpest weekly decline in five months in mainland stocks as traders booked profits following a...