Japanese stocks are lower due to a stronger yen and uncertainty over the impact of U.S. tariffs on corporate earnings. Auto, shipping and energy stocks lead declines. Mitsubishi Motors is down 2.1% and Kawasaki Kisen is 2.0% lower. Inpex is down 3.1% after crude oil prices fell overnight. USD/JPY is at 148.58, down from 148.81 as of Monday's Tokyo stock market close. Investors are closely watching any developments related to the leadership election for the ruling Liberal Democratic Party of Japan set for Saturday. The Nikkei Stock Average is down 0.1% at 45007.00. Source: Bloomberg.com
Dow drops 500 points, Big Tech stocks drag Nasdaq down 2%Stocks declined on Friday, led by technology names, with the Dow Jones Industrial Average erasing earlier gains in the holiday-shortened week. The blue-chip Dow shed more than 500 points, falling for the first time in six sessions. The S&P 500 fell 1.6% with all 11 sectors in the red. The Nasdaq Composite slid 2.2% as Tesla dropped 5%, and Nvidia declined more than 3%. Amazon, Microsoft and Alphabet each fell at least 2%. With Friday's sell-off, the Dow turned negative on the week, while the tech-heavy Nasdaq sat near flat. The...
US stocks pulled back on Friday as markets assessed how the corporate sector will fare against a longer period of high interest rates and potential tariffs against the EU and China. The S&P 500 and the Dow were each 0.7% lower and the Nasdaq 100 lost nearly 1%, tracking another session of sharp selling for US Treasuries. The Magnificent 7 continued to trade in volatile fashion as Meta, Amazon, and Tesla lost between 2% and 0.7%. The view of a resilient US economy added to the fallout of hawkish projections by the FOMC as rate futures showed that a large portion of the market only sees...
The Hang Seng Index closed almost flat at 20,096 on Friday (12/27) after rising in the previous two sessions, with gains in the technology, property and consumer discretionary sectors offsetting losses in the financial sector. Traders digested a report that the World Bank raised its forecast for China's economic growth to 4.9% in 2024 and 4.5% in 2025 but warned of challenges such as weak demand, weak consumer sentiment and high local government debt. Meanwhile, the latest data showed that China's industrial profits fell 4.7% year-on-year in the first 11 months of this year, sharply higher...
European stocks traded lower on Friday as markets resumed trading after the Christmas holiday. The Stoxx 50 and Stoxx 600 each fell 0.1%, with most sectors and major bourses in negative territory. This followed a shortened session at the start of the week due to Christmas Eve, with many traders still away for the holiday season. As 2024 winds down, attention turns to the final trading days, New Year's Day on Tuesday, and the outlook for monetary policy from the European Central Bank and the Federal Reserve. Market watchers are also watching for potential tariff changes under U.S....
The Nikkei 225 jumped 1.8% to close at 40,281 on Friday, marking a second straight day of gains and hitting its highest since mid-October, with most sectors contributing to the rally. The broader Topix index rose 1.3% to close at 2,802, as a weaker yen boosted exporters and fueled broad gains. Meanwhile, BOJ Governor Kazuo Ueda reiterated the need to monitor economic risks but refrained from providing clear guidance on future interest rate hikes. On the data front, Japan's retail sales grew the most in three months in November, while industrial output fell less than expected. However, a...