US stocks plunged on Thursday (November 13), with the S&P 500 falling 1.5%, the Nasdaq 1.9%, and the Dow Jones Industrial Average returning to a record high after a 1.5% decline amid a selloff in AI-related stocks and waning expectations of imminent Fed monetary easing. The market has drastically reduced the probability of a basis point cut on December 25 to around 50% from around 95% a month ago as several Fed officials voiced caution over further easing amid persistent inflation and a gap in official data following the government shutdown. Giant stocks such as Nvidia, Broadcom,...
Wall Street's main indexes opened higher on Friday as optimism about an imminent interest-rate cut by the Federal Reserve boosted sentiment in the final trading session of a week that saw volatility due to the U.S. government shutdown. The Dow Jones Industrial Average (.DJI), opens new tab rose 64.2 points, or 0.14%, at the open to 46,583.95. The S&P 500 (.SPX), opens new tab rose 6.8 points, or 0.10%, at the open to 6,722.14, while the Nasdaq Composite (.IXIC), opens new tab rose 42.1 points, or 0.18%, to 22,886.157. Source: Reuters.com
The Hang Seng Index weakened 146 points, or 0.5%, to close at 27,141 on Friday (October 3), retreating from a four-year high after three sessions of gains, as traders took profits following five consecutive months of gains since May. Sentiment was also impacted by concerns over the US government shutdown, which has halted much official activity, including the jobs report originally due today, with markets bracing for a shutdown that could last until next week. Trading was also sluggish as mainland Chinese markets remain closed until October 8. The decline was broad-based, with technology...
European stocks extended gains on Friday, with the STOXX 50 up 0.4% and the STOXX 600 rising 0.3% to fresh record highs, as optimism around artificial intelligence continued to buoy global investor sentiment. Momentum was further supported by news of fresh industry alliances - Hitachi teaming up with OpenAI and Fujitsu partnering with Nvidia. At the same time, investors monitored developments around the US federal government shutdown, though its market impact has so far remained limited. Among sectors, basic resources, banks, autos, and financial services led the gains, while technology...
The Nikkei 225 jumped 1.85% to close at 45,769, while the broader Topix rose 1.35% to 3,129 on Friday, with the Nikkei finishing at a fresh record as enthusiasm for artificial intelligence drove Japanese chip stocks higher. Sentiment was lifted after OpenAI's $6.6 billion share sale valued the firm at $500 billion, fueling optimism across AI-related sectors. Hitachi surged 10.3% on reports of a partnership with OpenAI, while SoftBank Group (+3.6%), Advantest (+4.3%) and Tokyo Electron (+2.3%) also posted strong gains. Politically, investors prepared for a pivotal ruling party leadership...
The Hong Kong stock market opened lower today. The Hang Seng Index fell 65 points, or 0.24%, to close at 27,221. The China Enterprises Index also fell 0.31%, while the technology index weakened 0.44%. Technology stocks showed mixed movements - Tencent and Alibaba recorded slight gains, while JD.com and Kuaishou experienced declines. Meituan and Xiaomi saw no price changes. In the financial sector, stock movements were also mixed. HSBC fell 1.1%, while stocks like AIA Group and the Hong Kong Stock Exchange were unchanged. In the automotive sector, most stocks moved lower. BYD, XPeng, and Li...