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...
Asian stocks opened higher, following Wall Street's rally fueled by AI-fueled euphoria. The S&P 500 rose 0.6% and the Nasdaq 100 rose 1.2%. Japan and Australia led gains, while China's ADR rose 0.9% ahead of the mainland market's reopening after Golden Week. The yen was nearly flat after hitting its weakest level since February, fueling speculation of intervention. In commodities, gold fell slightly but remained above $4,000/oz due to profit-taking and easing safe-haven demand following signals of a Gaza peace plan. Oil also weakened amid focus on peace and US inventory data. US stock...
European stock markets rallied on Wednesday, with equities in France perfomring strongly despite ongoing political upheaval in the country. The pan-European Stoxx 600 index climbed 0.8%, while the DAX in Germany increased by 1%, and the FTSE 100 in the United Kingdom gained 0.7%. Sectors like industrials, basic resources, banks, and insurance outperformed. France's CAC 40, meanwhile, moved up 1.1%. The index has been volatile throughout the week, fueled by the surprise resignation of Prime Minister Sebastien Lecornu on Monday. The outgoing Lecornu, who is holding last-minute talks over...
The S&P 500 rose slightly on Wednesday, a day after it snapped a seven-day win streak because of a drop in Oracle that called to question the sustainability of the artificial intelligence trade. The government shutdown is also in its second week. The benchmark index climbed 0.1%, while the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average fell 62 points, or 0.2%. Nvidia shares rose more than 1% after CEO Jensen Huang said that demand has risen in recent months, telling CNBC that "this year, particularly the last six months, demand of computing has gone up...
The Hang Seng Index fell 128 points, or 0.5%, to close at 26,829 on Wednesday, declining for a third straight session as sector-wide weakness gripped the market. The technology index fell 0.6%, tracking Wall Street's losses after Oracle fell on margin concerns. Shares of tech giant Alibaba fell 1.6%, while Baidu (-3.2%), Meituan (-2.3%), and SMIC (-1.8%) posted sharp losses, as US lawmakers reportedly pushed for broader restrictions on chip-making equipment exports to China. Financial and consumer staples stocks also weakened, weighed down by concerns over China's slowing economic recovery,...
The Nikkei 225 index fell 0.45% to 47,735 on Wednesday, retreating from a record high as investors took profits following a rally fueled by expectations of stimulus under PM-elect Sanae Takaichi (the Abenomics line). Weaker wage data also dampened prospects for a BoJ interest rate hike, with real wages falling by -1.4% year-on-year in August, an eighth straight month of decline. The technology sector also followed Wall Street lower after Oracle's plunge rekindled concerns about the sustainability of AI trading. Uncertainty was further compounded by the prolonged US government shutdown....