The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate earnings. The Dow Jones, on the other hand was down over 200 points, dragged down by a nearly 3% slide in American Express shares. Meanwhile, Netflix shares slipped 4.8%, despite the company beating expectations on both revenue and earnings per share. Conversely, Charles Schwab added 2.1% after upbeat earnings and revenue and Chevron was up 1.5% as the company completed the $53 billion Hess...
The three major U.S. indexes rose more than 0.8% on Thursday, with the S&P 500 and Nasdaq 100 closing at record highs as nonfarm payrolls rose by 147,000 in June, well above consensus estimates of 110,000, and the unemployment rate unexpectedly fell to 4.1%, reinforcing views of a resilient economy. Tech leaders advanced, with Nvidia up 1.3% and Synopsys jumping 4.2% on strong earnings momentum driven by AI and the White House's decision to lift export restrictions on chip design software to China. Meanwhile, broader market optimism was supported by progress on a U.S.-Vietnam trade deal...
European shares closed higher on Thursday as investors took in stride a stronger-than-expected U.S. jobs report, with bank stocks leading gains as focus remained on a potential trade deal between the European Union and the United States. The pan-European STOXX 600 index (.STOXX), closed 0.5% higher, in tandem with a 0.9% rise in the U.S. S&P 500 (.SPX), Germany's DAX (.GDAXI), advanced 0.6%, while France's CAC 40 (.FCHI), added 0.2%. U.S. job growth was unexpectedly solid in June, with the nonfarm payrolls reading shooting above market estimates for the month. "Today's good news...
U.S. stocks rose on Thursday after fresh evidence of a strong labor market reinforced views of a resilient economy. The three major indexes rose about 0.5%, with the S&P 500 and Nasdaq hitting fresh records. Nonfarm payrolls rose by 147,000 in June, well above expectations for a 110,000 gain, while the unemployment rate unexpectedly fell to 4.1%. The data brushed aside concerns that tariffs and economic uncertainty were hurting jobs, underscoring the resilience of the U.S. economy. In turn, lawmakers in the lower House of Representatives cleared a hurdle to be on track to pass Trump's...
Nonfarm Payrolls (NFP) in the United States (US) rose by 147,000 in June, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the 144,000 (revised from 139,000) increase recorded in May and came in better than the market expectation of 110,000. Other details of the employment report showed that the Unemployment Rate edged lower to 4.1% from 4.2%, while the Labor Force Participation Rate ticked down to 62.3% from 62.4%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, retreated to 3.7% from 3.8% in May. This print fell...
The Hang Seng dipped 151 points or 0.6% to finish at 24,070 on Thursday, reversing previous strength as falls hit most sectors, particularly consumer, financial, and tech. Caution prevailed ahead of key U.S. payroll data after the first drop in private sector jobs in over two years. In China, a private survey showed services activity fell to a nine-month low in June, weighed by the steepest decline in foreign sales in over two years amid mounting trade headwinds. Fierce competition among mainland e-commerce giants also raised concerns over profit margins. The index trimmed early losses on...