The three major stock averages in the US swung around the flatline on Monday, as investors braced for the resumption of economic data releases from major statistical agencies following the end of last week's government shutdown. Key reports including the jobs report and trade data are due this week and could influence the Fed's policy decision next month, at a time when many policymakers are growing more sceptical about the need for additional rate cuts. Markets are currently pricing in about a 43% chance of a quarter-point cut in December. Meanwhile, Nvidia is set to report quarterly...
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...
European stocks held steady on Thursday after hitting new records the previous day, as investors awaited the latest news on the French political crisis. The Stoxx Europe 600 was virtually flat at 8:15 a.m. in London, while Germany's DAX edged up to another record. Mining and travel & leisure sectors led, while autos and banks lagged. In individual stocks, HSBC fell after proposing a takeover plan for Hang Seng Bank in Hong Kong, valuing the entity at around $37 billion. In Paris, the CAC 40 edged higher following President Emmanuel Macron's signal that he would appoint a new prime...