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...
US stocks advanced on Thursday, with the S&P 500 and Dow Jones each up 0.2%, while the Nasdaq Composite gained 0.6%. The move followed a volatile session the day before, as investors focused on corporate earnings and the AI rally regained momentum after Taiwan Semiconductor Manufacturing raised its revenue-growth target. Communication services, technology, and utilities led the gains, while financials underperformed. Among major movers, Nvidia rose 1.4%, Alphabet added 1.5%, Broadcom gained 1.7%, and Micron Technology advanced 2.3%. Charles Schwab was up 0.5% after an earnings beat and...
The Nikkei 225 Index rose 1.27% to close at 48,278 while the broader Topix Index added 0.62% to 3,203 on Thursday, extending gains from the previous session as investors navigated political uncertainty in Japan, while a strong earnings season kept the momentum in stocks. The ruling Liberal Democratic Party proposed holding a vote for a new prime minister on Oct. 21, though opposition parties have yet to agree on the date, keeping the outlook for LDP's Sanae Takaichi unclear. Sentiment was also lifted by a solid start to the earnings season, bolstered by expectations of US rate cuts and...
European stocks fell as investors digested the latest earnings reports and awaited the outcome of a no-confidence vote in France. Nestlé SA jumped 7% as CEO Philipp Navratil accelerated recovery efforts. The Stoxx 600 was little changed at 8:16 a.m. in London. The personal care and food and beverage sectors outperformed, while travel and leisure stocks weakened. Among individual stocks, Nordea Bank Abp rose 3%, to its highest level ever, after the lender announced a series of share buybacks and reported loan revenue that beat analysts' estimates. The European stock rally has faltered in...
Japanese stocks rallied on Thursday (October 16th), driven by easing political uncertainty and positive sentiment in the technology sector. The Nikkei index rose 1.3% to 48,277.74, while the Topix index also gained 0.6% to 3,203.42. SoftBank shares were the biggest supporter of the Topix, rising sharply by 8.6%. Of the 1,672 stocks on the Topix, 879 rose and 711 fell. Political news that boosted the market came from Sanae Takaichi, leader of Japan's ruling party, who sought opposition support for next week's prime ministerial vote. This revived the previously fading "Takaichi trade." In the...
The Hong Kong stock market posted moderate gains on Thursday (October 16th), with the Hang Seng Index rising 96 points, or 0.37%, to 26,007. This increase occurred despite mixed performance in the technology and financial sectors. Major tech stocks like Tencent and Alibaba rose slightly, while Xiaomi fell more than 2%. In the financial sector, HSBC and AIA weakened, but Ping An Insurance and the Hong Kong Stock Exchange posted gains. Gold-linked stocks were the market's stars, boosted by the continued record-breaking global gold price. Zijin Mining and Zhaojin Mining both rallied, while a...