The STOXX 50 went up 0.3% and the STOXX 600 rose 0.2% on Monday, tracking a general positive tone across European equity markets in Asia and the US. Traders were also digesting corporate news and economic data. Shares of AstraZeneca jumped 1.6% after news the drugmaker plans direct listing on the New York Stock Exchange, replacing its current ADR structure. GSK increased 3.6% after appointing a new CEO. Lufthansa added 1.4%. On the other hand, Genmab declined 2.5% after it agreed to buyNasdaq-listed Dutch biotech Merus. On the data front, preliminary figures showed inflation in Spain...
US stocks edged lower on Tuesday (September 16th) as investors took profits ahead of the Federal Reserve's highly anticipated September policy meeting. The S&P 500 fell 0.1%, the Dow Jones Industrial Average fell 125 points, and the Nasdaq Composite closed slightly below the flatline. Leading technology stocks including Nvidia, Microsoft, Alphabet, and Palantir declined, while financial and utility stocks also weighed on the overall market. Traders widely expect the Fed to cut interest rates by 25 basis points on Wednesday, marking its first rate cut since December, with the market...
European stocks closed sharply lower on Tuesday, pressured by aggressive losses in the financial sector as markets continued to assess the global interest rate outlook. The STOXX 50 fell 1.3% to 5,372, and the pan-European STOXX 600 fell 1.2% to 551. Traders were cautious ahead of this week's key monetary policy decisions from the Fed and the Bank of England, as well as Sino-US trade talks, while US President Trump began his visit to the UK today. Data-wise, the ZEW Economic Sentiment Index for Germany surprisingly showed an uptick, while UK employment data continued to indicate a slowdown...
The S&P 500 and the Nasdaq each gained 0.1% on Tuesday, setting fresh record highs after closing at all-time peaks in the previous session. The Dow Jones, however, hovered near the flatline. Investors stayed focused on the FOMC meeting, which begins today, with the Fed widely expected to deliver a 25bps rate cut tomorrow. On the data front, both retail sales and industrial production surprised to the upside, while export and import prices also exceeded forecasts. Still, the figures did little to alter market expectations for Fed policy. By sector, energy outperformed, while utilities and...
The Hang Seng ended little changed on Tuesday, hovering around 26,438 after dipping earlier in the session. Another record close on Wall Street Monday supported sentiment, as bets grew that the Fed will resume its easing cycle this week and leave the door open to further cuts. Strength in tech and consumer stocks helped offset weakness in property and financials, while traders digested a framework deal between the US and China to place TikTok under US-controlled ownership, with final approval expected in a Friday call between President Trump and Xi Jinping. The index tracked mainland...
European stocks traded in a muted fashion Tuesday, awaiting news from the Federal Reserve policy meeting while digesting key regional economic data. The DAX index in Germany dropped 0.1%, the CAC 40 in France slipped 0.2% and the FTSE 100 in the U.K. fell 0.1%. Fed meeting starts The Fed starts its latest two-day policy meeting later in the session, limiting activity as investors look for the U.S. central bank to cut interest rates at the conclusion on Wednesday, potentially offering global support. The Bank of England also meets later this week, but is widely expected to hold still on...