Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
The Nikkei 225 index edged up 0.01% to close at 39,372 on Wednesday, ending almost flat after weak signals from Wall Street overnight, as investors braced for a key U.S. inflation report. Market sentiment was also affected by mixed economic data from Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Notable performances were seen by index heavyweights Kawasaki Heavy (+10.3%), IHI Corp...
European markets were slightly lower on Wednesday at the session's open, as traders awaited the latest U.S. inflation data. The pan-European Stoxx 600 index traded down 0.2% shortly after the opening bell, with most sectors in negative territory. Zara owner Inditex posted interim nine-month results, flagging that its revenues between Nov. 1 and to Dec. 9 jumped 9% from the same period of last year on a constant currency basis. The U.S consumer price index data will likely influence how the Federal Reserve proceeds on interest rates at its Dec. 17-18 meeting. Economists polled by Dow Jones...
Hong Kong shares rose 138 points, or 0.7%, to 20,447 on Wednesday morning, bouncing back from losses in the previous session as China kicks off its annual economic work meeting later in the day to discuss policy for next year. Meanwhile, the Politburo has hinted at more aggressive stimulus amid a potential trade spat with the US. Economists expect the Chinese government to set a higher budget deficit target of up to 4% of GDP, allowing for more borrowing to support the sluggish economy. However, gains were capped by weak Chinese trade data for November, highlighted by a sharp slowdown in...
The Nikkei 225 index fell 0.2% to around 39,300 on Wednesday, ending a two-day winning streak following Wall Street's overnight decline, as investors braced for a key U.S. inflation report. Market sentiment was also affected by mixed economic data out of Japan. The Reuters Tankan index turned negative in December, while the BSI manufacturing sentiment reading showed improvement in the fourth quarter. Additionally, data revealed that Japanese producer prices rose at the fastest pace in 16 months in November. Technology stocks led the decline, with significant losses from Disco (-3%),...
Asia-Pacific markets opened mostly higher on Wednesday, in contrast to Wall Street's main benchmarks that fell ahead of key inflation data that could influence the Federal Reserve's interest rate decision. South Korea reported a seasonally adjusted unemployment rate of 2.7% in November, Statistics Korea said, unchanged from the previous month China reportedly began its annual economic work conference on Wednesday to outline its economic policies and growth targets for next year. Australia's S&P/ASX 200 started the day down 0.31%. Japan's Nikkei 225 and the broad-based Topix opened...