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...
The Nikkei 225 rose 0.7% to around 44,700 and the Topix gained 0.5% to 3,165 on Friday, with Japanese equities hitting fresh record highs in step with Wall Street's overnight rally. On Thursday, all three major US benchmarks closed at all-time highs as evidence of a cooling labor market and contained inflation strengthened expectations for deeper Federal Reserve rate cuts. In Japan, investors weighed the Bank of Japan's policy outlook against mixed economic indicators and ongoing political uncertainty. Prime Minister Shigeru Ishiba recently announced his resignation, facing mounting...
European stocks closed higher Thursday, as investors reacted to the latest policy decision by the European Central Bank as well as key U.S. inflation data. The DAX index in Germany climbed 0.3%, the CAC 40 in France gained 0.9% and the FTSE 100 in the U.K. rose 0.8%. ECB meeting All eyes Thursday were on Frankfurt as the ECB concluded its latest policy-setting meeting, with policymakers keeping interest rates on hold, as widely expected, with inflation largely on target, but an uncertain growth and political outlook kept further easing open. The ECB cut its key deposit rate to 2% in June,...
US stocks were in the green on Thursday, with the S&P 500 adding 0.3% to hit new highs, while the Nasdaq was up 0.3% and the Dow Jones rose almost 200 points as investors digested the latest US CPI report. The data came largely in line with expectations, showing annual inflation accelerating to 2.9% while core inflation held steady at 3.1%. However, headline CPI rose 0.4% on the month, above forecasts of 0.3%. The report did little to shift market expectations for a Fed rate cut next week, with investors nearly fully pricing in three cuts by year-end. Meanwhile, initial jobless claims...
The Hang Seng Index fell 114 points, or 0.4%, to close at 26,086 on Thursday (September 11), halting a four-day rally and retreating from a four-year high amid broad sector weakness. Sentiment weakened after the New York Times reported that the US may impose restrictions on Chinese pharmaceuticals and tighten oversight of licensing agreements for experimental drugs. Pharmaceutical stocks led the decline, with Hansoh Pharma plunging 8.3%, followed by CSPC Pharma (-7.1%), Akeso Inc. (-4.7%), and Wuxi Biologics (-4.7%). Other stocks that also experienced significant declines included Meituan...
European stocks edged higher on Thursday ahead of the ECB policy decision and the US CPI release. At 07:05 GMT, Germany's DAX rose 0.1%, France's CAC 40 +0.3%, and the UK's FTSE 100 +0.3%. Gains were limited as investors chose to wait for these two key events. The focus is on Frankfurt. The ECB is expected to hold interest rates, having previously cut its benchmark rate to 2% through June and paused as inflation returns to target and growth stabilizes. However, the central bank will keep the option of further easing open if needed. Uncertainties add to the caution: 15% US tariffs on EU...