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...
U.S. equities fell slightly on Monday after the Dow Jones Industrial Average catapulted to intraday and closing records, and as investors looked ahead to Nvidia earnings. The 30-stock Dow dropped 121 points, or 0.3%. The S&P 500 shed 0.2%, while the Nasdaq Composite lost 0.3%. Intel shares initially extended its gains Monday before fizzling on the heels of Commerce Secretary Howard Lutnick revealing Friday that the U.S. government has taken a 10% stake in the chipmaker. That could be a sign of more to come from the Trump administration, as White House economic advisor Kevin Hassett...
The Hang Seng index surged 491 points, or 1.9%, to close at 25,830 on Monday (August 25th), extending its gains for a second session and reaching its highest level since October 2021. The rally was broad-based, driven by the prospect of a US interest rate cut amid weakening labor demand. In China, the stock market rose nearly 10% this month due to a surge in liquidity. Meanwhile, the People's Bank of China (PBOC) injected a net CNY 465.7 billion into the financial system today, the largest daily addition since late July, to maintain adequate funding conditions. The Technology Index jumped...
European markets were lower to start the new trading week Monday as investors assessed the economic outlook after hopes of a Federal Reserve interest rate cut were boosted Friday. The pan-European Stoxx 600 was last down by 0.3%, with regional indexes largely trading in negative territory. Germany's DAX and France's CAC 40 were last each down by around 0.5%. U.K. markets were closed for a public holiday. Investors on Monday closely watched shares of windfarm developer Orsted. Late on Friday, U.S. authorities ordered the company to halt construction of a near-complete project off of Rhode...
Japanese shares ended Monday higher, as Jerome Powell's dovish comments whetted risk appetite. Concerns that the yen will strengthen if the Federal Reserve cuts interest rates capped gains, however. The broader Topix Index rose 0.1% as of market close in Tokyo, with the Nikkei 225 gaining 0.4% after climbing as much as 1.3% in morning trade. Trading houses and machinery stocks lifted the Topix the most, while retail and IT shares dragged. "Powell's speech was dovish, removing the block for a September rate cut and boosting risk sentiment," said Anna Wu, a cross-asset investment...
Hong Kong shares surged 495 points or nearly 2% to 25,836 in Monday morning's deals, extending gains for the second session and hitting their highest level in almost four years. The rally followed Wall Street's advance on Friday after Fed Chair Jerome Powell signaled at Jackson Hole that rate cuts may be warranted amid a weakening labor market. Broad-based gains lifted the market, with the Hang Seng Tech Index climbing over 2.5% on renewed AI optimism after DeepSeek unveiled its upgraded V3 model, supported by domestic chips. Consumer, property, and financial stocks also climbed after...