Three major US indexes closed at new record highs after a lower-than-expected inflation report raised the possibility of a Federal Reserve interest rate cut later this year and prompted investors to shift to riskier assets. The S&P 500 rose 0.8%, the Nasdaq rose 1%, and the Dow Jones Industrial Average rose 470 points. Technology stocks led the rally, with AMD and IBM surging 7.5% and 8.77%, respectively, after IBM said it had successfully implemented a key quantum error correction algorithm on AMD chips, boosting sentiment across the sector. Intel rose 1.6% after returning to...
European stocks closed mostly higher to extend the positive momentum this week on strength in healthcare and luxury brands. The Eurozone's STOXX 50 inched higher to 5,651 and the pan-European STOXX 600 rose 0.5% to 570, both at record highs. Sanofi, Novo Nordisk, Merck, and UCB rose more than 2%, extending their surge this week after the US Presidential Administration signaled that tariffs on pharmaceutical goods may be less aggressive than feared, while allowing patients to buy discounted prescription drugs through a new federal website. Luxury giants were also higher as markets assessed...
Wall Street's main indexes opened higher on Friday as optimism about an imminent interest-rate cut by the Federal Reserve boosted sentiment in the final trading session of a week that saw volatility due to the U.S. government shutdown. The Dow Jones Industrial Average (.DJI), opens new tab rose 64.2 points, or 0.14%, at the open to 46,583.95. The S&P 500 (.SPX), opens new tab rose 6.8 points, or 0.10%, at the open to 6,722.14, while the Nasdaq Composite (.IXIC), opens new tab rose 42.1 points, or 0.18%, to 22,886.157. Source: Reuters.com
The Hang Seng Index weakened 146 points, or 0.5%, to close at 27,141 on Friday (October 3), retreating from a four-year high after three sessions of gains, as traders took profits following five consecutive months of gains since May. Sentiment was also impacted by concerns over the US government shutdown, which has halted much official activity, including the jobs report originally due today, with markets bracing for a shutdown that could last until next week. Trading was also sluggish as mainland Chinese markets remain closed until October 8. The decline was broad-based, with technology...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around artificial intelligence continued to buoy global investor sentiment. Momentum was further supported by news of fresh industry alliances - Hitachi teaming up with OpenAI and Fujitsu partnering with Nvidia. At the same time, investors monitored developments around the US federal government shutdown, though its market impact has so far remained limited. Among sectors, basic resources, banks, autos, and financial services led the gains, while technology...
The Nikkei 225 jumped 1.85% to close at 45,769, while the broader Topix rose 1.35% to 3,129 on Friday, with the Nikkei finishing at a fresh record as enthusiasm for artificial intelligence drove Japanese chip stocks higher. Sentiment was lifted after OpenAI's $6.6 billion share sale valued the firm at $500 billion, fueling optimism across AI-related sectors. Hitachi surged 10.3% on reports of a partnership with OpenAI, while SoftBank Group (+3.6%), Advantest (+4.3%) and Tokyo Electron (+2.3%) also posted strong gains. Politically, investors prepared for a pivotal ruling party leadership...