European stocks ended mixed on the last trading day of the year. The pan-European Stoxx 600 index closed a shortened trading session 0.1% lower on Wednesday, with most sector indexes in negative territory. The U.K.'s FTSE 100 ended the day down 0.2%, bringing the index to an annual gain of 21.5% – its strongest yearly gain since 2009. Meanwhile, France's CAC 40 ended New Year's Eve down 0.2%, while Germany's DAX rose 0.6%. Italy's FTSE MIB gained 1.1%, bringing annual gains to 31.5% and its best year since 1998. Markets were open for a half-day of trading on Wednesday, and will be closed...
The Japanese stock market opened lower at the start of trading after disappointing economic growth data showed results. Japan's gross domestic product (GDP) fell 0.6% in the July-September quarter compared to the previous three months—worse than the expected 0.4% decline. This data immediately weighed on market sentiment and caused several leading stocks to decline. The electronics, technology, and banking sectors were the hardest hit. Lasertec fell 1.8%, SoftBank Group fell 1.6%, and Resona Holdings fell 1.8%. Meanwhile, the US dollar strengthened against the yen to 155.21, up from 154.59...
Asian stock markets started the week cautiously. The MSCI Asia Index fell slightly by 0.1%, in line with weakening US index futures. Australia also weakened, while Japan's Nikkei 225 fell 0.4% amid reports that the Japanese economy shrank again in the third quarter. This situation was exacerbated by the escalating Japan-China relationship, particularly following the incident involving a Chinese fighter jet that aimed its fire control radar at a Japanese jet. Investors' caution is also heightened as global markets hover near their highs, fueled by the AI-driven stock rally this year. This...
US stocks closed higher on Friday (December 5), with the S&P 500 up 0.2%, the Nasdaq up 0.4%, and the Dow Jones Industrial Average up 0.2% as weak PCE data and positive sentiment in Michigan strengthened the likelihood of a 25bps Fed rate cut next week, with traders pricing in an 87% chance of a rate cut. Core PCE rose 0.2% in September, with the annual rate dropping to 2.8%, while Michigan showed improved confidence and lower near-term inflation expectations. Large-cap stocks were the main drivers of the gains, with Alphabet (+1.2%), MetaTrader (+1.8%), and Broadcom (+2.4%) leading the...
European stocks edged higher, posting a second straight week of gains, as markets continued to assess the outlook for interest rates next year, the returns from a surge in AI capital spending, and the possibility of a ceasefire between Russia and Ukraine. The STOXX 50 edged up 0.1% to 5,726, up 1% for the week, while the STOXX 600 closed flat at 579, up 0.4% from last Friday. The latest US economic data maintained the prospect of a Fed rate cut next week, while an upward revision to the Eurozone labor market was consistent with the ECB's signal that interest rates would remain unchanged for...
U.S. stocks edged higher ahead of a key inflation report, with investors looking for confirmation that the Federal Reserve will cut interest rates next week. At 09:35 ET (14:35 GMT), the Dow Jones Industrial Average gained 85 points, or 0.2%, the S&P 500 index gained 14 points, or 0.2%, and the NASDAQ Composite rose 102 points, or 0.4%. PCE inflation gauge in spotlight Expectations of 25-basis point reduction at the Federal Reserve's December 9–10 meeting are running hot -- with futures now pricing in roughly an 87% probability -- on the back of recent weak labor data and broader...