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...
European markets opened higher on Tuesday, December 3, with investors keeping an eye on political turmoil in France. The pan-European STOXX 600 index opened 0.17% higher, with most sectors in positive territory except chemicals, insurance and telecoms. French financial markets were closely watched on Tuesday after Prime Minister Michel Barnier used special constitutional powers to push through a disputed budget bill without a parliamentary vote. Opposition parties on both the left and right have said they will support a motion of no confidence to bring down Barnier's minority government....
The S&P 500 and Nasdaq 100 closed at record highs to kick off December trading, gaining 0.2% and 1.1%, respectively, driven by large-cap tech stocks, while the Dow Jones slipped 128 points. Leading sectors included communication services, consumer discretionary, and technology, while real estate lagged. Tesla rose 3.4% after unveiling an update to its "Full Self-Driving" software, Super Micro Computer surged 28.7% following the validation of its financial reports, and Amazon gained 1.4% amid strong Cyber Monday momentum. Investors are closely monitoring upcoming economic data,...
European stocks closed higher on Monday, with the Stoxx 50 rising 1% and the broader Stoxx 600 gaining 0.5%, driven by strong performances from major corporates. Novo Nordisk climbed 1.9%, LVMH gained 2.6%, SAP rose 1.8%, ASML Holding advanced 1%, and Hermes International surged 4.5%. However, Stellantis shares dropped 6.3% following CEO Carlos Tavares' resignation, citing differences with the board amid struggles in the US market. Investor sentiment was clouded by political uncertainty in France, with ongoing budget tensions raising concerns about a potential no-confidence vote. Economic...
Stocks in the US were higher on the first trading day of December, with the S&P 500 rising 0.2%, the Dow Jones adding 40 points and the Nasdaq gaining 0.6%. Traders await key economic data due this week including the ISM PMIs, JOLTs and the jobs report to assess the US economic performance and the Fed's plans for December. The political situation remains in the spotlight with Donald Trump requiring a commitment from BRICS that they will neither create a new currency, nor back any other currency to replace the US dollar or they will face 100% tariffs. Consumer discretionary was by far...
The Hang Seng rose 127 points or 0.65% to close at 19,550 on Monday, marking gains for the second session amid strength across sectors. Upbeat manufacturing data from China, provided by both officials and a private survey, boosted sentiment as stimulus measures initiated in September began to take effect. Meanwhile, bets increased that the PBoC might roll out more policy easing, potentially including further reductions in the RRR and injecting more liquidity into the markets. Locally, Hong Kong's retail sales fell the least in eight months in October, with a government spokesperson saying...