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...
In his first press conference in a week, President Donald Trump dismissed rumors of his death circulating on social media. In a casual tone, Trump called the reports "fake news," while emphasizing that he was actively engaging through interviews, social media posts, and visits to his golf club in Virginia. The White House Press Office added that he was in good physical condition despite suffering from chronic venous insufficiency, a common condition associated with aging, with no serious complications. Furthermore, Trump announced that the headquarters of U.S. Space Command would be moved...
The S&P 500 closed lower on Tuesday, as the tech wreck continued pressured by tariff uncertainty and a jump in bond yields. The main averages on Wall Street were closed on Monday in observance of the Labor Day holiday. At the end of the last trading day on Friday, stocks dipped, weighed down partially by declines in artificial intelligence-related names. Sticky personal consumption expenditure price index data also sparked some doubts over just how much impetus the Federal Reserve has to cut rates. President Donald Trump said he would request the Supreme Court deliver an expedited...
European stocks closed sharply lower on Tuesday, tracking a broad selloff in global equities amid the rise in long-term borrowing costs, while markets parsed the latest inflation data. The annual inflation rate in the Eurozone inched higher to 2.1%, while the core rate refrained from dropping for a third month to stoke lingering concerns of stubborn services inflation. The data coincided with a fresh record in European bond issuance in one session amid major sales in the UK and Italy, adding strain to long-dated securities. The tight credit conditions pressured the heavyweight banking...
US stocks remained weak on Tuesday, tracking a global equity decline amid growing concerns about the overvalued technology sector and unsustainable fiscal conditions. The S&P 500 and Nasdaq 100 fell more than 1%, while the Dow Jones Industrial Average fell 400 points. Nvidia and Qualcomm both fell 3% due to lingering skepticism about future returns from artificial intelligence technology, prompting investors to reconsider their large positions in software and hardware companies. Meanwhile, long-term bonds slumped amid concerns about overly expansionary fiscal policy supported by the...
The Hang Seng Index fell 121 points, or 0.5%, to close at 25,497 on Tuesday, after surging 2% in the previous session amid a sharp decline in US index futures ahead of the August jobs report and concerns over aggressive US trade policy. Technology stocks led the decline as traders took profits after a sharp rally in AI-related stocks. Property and consumer discretionary stocks also weakened, mirroring the weakness in mainland Chinese equities after three days of gains. The decline was partly offset by positive Chinese manufacturing growth in August, according to a private...