Wall Street's indexes closed at record highs on Wednesday, buoyed by strong sector performance and optimism that the US government shutdown will be brief. Investors shrugged off the first day of the shutdown and weaker-than-expected private payrolls data, with the S&P 500 gaining 0.3%, the Nasdaq 100 rising 0.5%, and the Dow adding 43 points. Health-care stocks led the advance, driven by sharp gains in Regeneron (+6.7%), Moderna (+6.8%), Eli Lilly (+8.2%), and AbbVie (+5.5%), while optimism over Pfizer's (+2.2%) deal with the White House on Medicaid drug pricing provided additional...
Hong Kong stocks showed strength on the first trading day of July. The Hang Seng Index opened higher by 232 points or 0.96%, reaching 24,304 points. The H-share index rose by 95 points or 1.09%, standing at 8,773 points, while the technology index climbed by 56 points or 1.07%, closing at 5,359 points. In the tech sector, Tencent saw a 0.9% increase, Alibaba rose by 1.7%, Meituan surged by 1.5%, Xiaomi Group edged up by 0.7%, and Kuaishou gained 1.2%. Among financial stocks, HSBC Holdings experienced a 0.4% decline, while AIA Group rose by 0.7%, China Ping An increased by 1.5%, and Hong...
The Nikkei 225 fell 1.1% to around 39,500, while the broader Topix Index declined 0.6% to 2,814 on Wednesday, marking a second consecutive day of losses for Japanese equities. The selloff came after US President Donald Trump threatened to impose a 35% tariff on Japanese imports, aiming to pressure Tokyo into making trade concessions. Trump described negotiations with Japan as "very tough," renewing criticism over the country's reluctance to accept US-made cars and rice. His comments added to investor concerns, especially after Federal Reserve Chair Jerome Powell stated that the Fed would...
U.S. stocks closed mixed on Tuesday after the Senate passed President Trump's sweeping budget bill, with investors also keeping an eye on trade developments. The S&P 500 fell 0.1%, and the Nasdaq dropped 0.8% after hitting a record high on Monday, as enthusiasm over potential stimulus clashed with concerns about the bill's trillion-dollar cost. The Dow Jones industrials outperformed, rising 400 points, led by sharp gains in health care stocks such as UnitedHealth (+4.5%) and Amgen (+4%). In contrast, technology stocks dragged the Nasdaq, with Tesla down 5.3% after Trump escalated his...
European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates. The Eurozone's STOXX 50 fell 0.3% to 5,288, and the pan-European STOXX 600 dropped 0.2% to 540. Reports indicated that the EU is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources...
The US stock market moved without a clear direction on Tuesday. The S&P 500 and Nasdaq fluctuated, while the Dow Jones rose about 200 points, extending the previous day's gains. The S&P 500's quarterly performance recorded its best record since 2023. Investors are still watching developments in trade negotiations and discussions on the budget bill in the US Congress. Federal Reserve Chairman Jerome Powell said that the impact of tariffs on prices would likely only be seen in the next few months. However, he also emphasized that most Fed officials support a rate cut before the end of...