Wall Street traders bracing for a wave of economic releases after the end of the US shutdown drove stocks lower and bond yields higher amid concern over whether the data will be enough to clear the path for a Federal Reserve rate cut. With much of the optimism about the government reopening already priced in, the S&P 500 wiped out its November advance. Short-dated Treasuries, which are more sensitive to imminent Fed moves, underperformed as money markets project about even odds of a central bank reduction in...
The STOXX 50 jumped 1.4% to close at a record high of 5,688 on Monday, while the broader STOXX 600 gained 1.1% to 572 amid easing concerns over US banking stability and signs of easing trade tensions between Washington and Beijing after President Trump indicated he would lower tariffs if China resumed purchases of US soybeans. Financial stocks posted significant gains, with BBVA up 3.9%, UniCredit 3%, and Intesa Sanpaolo 2.8%. Conversely, BNP Paribas plunged 7.7% after a US jury ordered it to pay $20.75 million over alleged links to Sudanese atrocities. The defense sector also posted strong...
The Hang Seng surged 612 points, or 2.4%, to close at 25,859 on Monday, recovering sharply from steep losses in the prior session as all sectors advanced. Investor sentiment was lifted by a strong rise in U.S. futures after President Trump indicated he could lower tariffs on China if Beijing also takes steps benefiting the U.S., including resuming soybean purchases. Optimism was further supported by bets that China may roll out fresh stimulus following Q3 GDP growth of 4.8%, the weakest in a year. Chinese policymakers are meeting this week to discuss the latest Five-Year Plan ahead of the...
The Nikkei 225 jumped 3.37% to close at 49,186 while the Topix Index climbed 2.46% to 3,248 on Monday, with the former hitting fresh all-time highs as investors positioned for Japan's leadership vote on Tuesday that will decide the country's next prime minister. Sentiment improved after the ruling Liberal Democratic Party and the Japan Innovation Party agreed to form a coalition government, paving the way for Sanae Takaichi to become Japan's first female premier. The so-called "Takaichi trade," fueled by expectations of increased fiscal stimulus and loose monetary policy, drove buying in...
European markets opened the week in positive territory, with both the STOXX 50 and STOXX 600 rising 0.5%, rebounding from sharp losses on Friday. Sentiment improved as concerns over US banking credit eased. Investor confidence was further supported by reports that President Trump sought to de-escalate trade tensions with China. The luxury sector was among the strongest performers, with Kering jumping 4.3% after agreeing to sell its beauty division to L'Oréal (up 0.7%) for €4 billion. The defense sector also advanced, with Rheinmetall up 3.3% and Leonardo gaining 2.9%, both recovering from...
European stocks opened higher on Monday, boosted by easing concerns about regional banks and a positive tone in US-China trade relations. The Stoxx 600 Index rose 0.6%, led by the banking sector, while consumer staples like food and personal care weakened. The market also shrugged off France's debt downgrade and focused on an upbeat earnings season. Kering SA shares jumped 4.4% after selling its beauty division to L'Oreal. President Trump's statement that 100% tariffs on Chinese goods were unsustainable also boosted risk appetite. Investors are now looking to the Fed for an interest rate...