US stocks closed sharply higher on a triple-witching Friday, with the S&P 500 rising 0,9%, the Nasdaq 100 gaining 1.4%, and the Dow Jones adding more than 180 points, extending gains from the previous session as technology stocks outperformed. The AI-related trade showed signs of recovery, led by Oracle, whose shares jumped more than 7% after TikTok agreed to sell its US operations to a new joint venture involving Oracle and private-equity firm Silver Lake. Micron Technology advanced 7%, building on its 10% surge on Thursday. Also, Nvidia shares climbed more than 3% after Reuters...
Asian equities swung between small gains and losses as investors weighed the fallout from the selloff in global stocks, with traders watching whether regional markets can stabilize after Wall Street's sharp losses. MSCI's stocks gauge for Asia Pacific fell around 0.1% after the index had its biggest drop since early April. Contracts for US stocks edged lower in early Asian trade after the S&P 500 index fell for a fourth day. A basket of the Magnificent Seven companies declined 1.8%. Nvidia Corp., at the center of the AI frenzy, slumped 2.8%...
The Dow Jones Industrial Average faced renewed downside pressure on Tuesday, tumbling 680 points from the previous day's close at its lowest before finding a half-hearted technical floor near 46,255. The major equity index has pushed into a fourth consecutive bearish day as investors face headwinds on multiple fronts. US labor data continues to tease around the edges of a steepening downturn after US Initial Jobless Claims came in within familiar territory, rising slightly to 232K from the previous print of 219K. ADP's Employment Change 4-week average improved to -2.5K from the previous...
European stocks sank to close around one-month lows on Tuesday, extending the selloff from the prior sessions and tracking the poor momentum for global equities as concerns of an overvalued global tech sector and high rates by the Federal Reserve erased demand for riskier assets. The STOXX 50 fell 1.9% to 5,540 and the STOXX 600 dropped 1.8% to 561. Losses for equities in the Eurozone were broadly distributed among the major sectors in the bloc, with Santander, Intesa Sanpaolo, and ING dropping over 3% each to lead the losses for lenders. Consumer cyclicals and tech were also under...
The S&P 500 and the Dow Jones were down for a fourth consecutive session on Tuesday, losing 0.5% and 0.8% respectively while the Nasdaq decreased 0.6%. Traders remained in a risk-off mood amid renewed concerns over high valuations in AI and tech stocks, ahead of Nvidia's earnings report. Consumer discretionary was the biggest laggard while consumer staples outperformed. Nvidia (-1.4%), Microsoft (-1.5%), Amazon (-1.9%) and Meta were sharply lower and Home Depot tumbled more than 4% after cutting its full-year profit forecast. Investors are also watching the resumption of key economic...
The Hang Seng Index plunged 454 points, or 1.7%, on Tuesday (November 18th), its sharpest one-day drop since mid-October, and closed at a two-week low of 25,930. The index fell for a third straight session, weighed down by broad declines across sectors. Sentiment soured due to the global market slump, with traders anxiously awaiting Nvidia's earnings report amid valuation concerns and the delayed release of US data, including the September employment report. Technology stocks slumped nearly 2% as the recent rally showed signs of exhaustion. Property, financial, and consumer discretionary...