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...
Asian stock markets opened higher on Thursday morning (October 16th), following a positive close on Wall Street despite volatile trading. Stocks in Japan, Australia, and South Korea rose, while index futures pointed to a weaker opening in Hong Kong. In the US, the S&P 500 index rose 1.2%, then fell, and finally closed up 0.4%. Renewed tensions between the United States and China have again affected market sentiment. US President Donald Trump stated that his country is now "locked in a trade war" with China. However, US Treasury Secretary Scott Bessent suggested a longer pause on import...
Japan's Nikkei stock index rose 0.7% to 47,997.81 at the start of trading on Thursday. This increase followed the gains seen in most US stock markets overnight. Positive sentiment on Wall Street provided additional encouragement for Japanese investors to re-enter the market. According to analysts from Citi Research, there is a strong opportunity for Japanese stocks to continue strengthening over the next 6 to 12 months. One reason is that regardless of the outcome of Japan's political landscape, the new government is likely to implement expansionary, or pro-market, economic policies. Some...
US stocks closed higher on Wednesday, despite ongoing US-China trade tensions and the ongoing government shutdown. The S&P 500 rose 0.4%, boosted by strong earnings reports from Morgan Stanley and Bank of America, which supported the financial sector. Morgan Stanley shares hit a record high, rising 4.7%, while Bank of America gained 4.4% after both banks beat third-quarter earnings expectations thanks to strong deals. The Nasdaq 100 rose 0.7%, supported by a 3% jump in the Philadelphia Semiconductor Index following better-than-expected orders and operating income from ASML, reflecting...
US stocks rose on Wednesday, with the S&P 500 up 0.7%, the Nasdaq gaining 0.9%, and the Dow Jones advancing about 220 points, following a volatile session on Tuesday, as investors focus on a new wave of corporate updates. Bank of America climbed 4.5% after reporting higher quarterly profits, while Morgan Stanley shares soared more than 6% to an all-time high of $164 after the lender beat on earnings and revenues. Nvidia went up 1.6% after HSBC upgraded its shares to Buy from Hold. Abbott Laboratories on the other hand, lost 2.2% after a revenue miss. Meanwhile, comments from Federal...
The Nikkei rose at the close on Wednesday (October 15th), led by the property, banking, and textile sectors. Sentiment improved as the market read the Fed's increasingly dovish signals—balance sheet reduction is likely to stop soon—resulting in lower yields and recovering risk appetite. Rotation flowed to domestic issuers benefiting from consumption and stable funding costs; thus, retail and banking were the driving forces. A slightly stronger yen restrained exporters but boosted interest in locally market-oriented stocks. In commodities, oil tended to weaken due to the narrative of a...