Stocks rose on Thursday as Wall Street weighed the latest inflation data, which came in lighter-than-expected.The Dow Jones Industrial Average traded 339 points, or 0.8%. The S&P 500 popped 1.1%, while the Nasdaq Composite advanced 1.5%. Micron Technology jumped 13% after the semiconductor play topped Wall Street estimates on the top and bottom lines for the fiscal first quarter and offered a strong revenue forecast for the current period. Micron helped rekindle the artificial intelligence trade, which has seen weakness in recent sessions. The delayed November consumer price index...
Japanese stocks weakened on Friday following an overnight plunge in US technology stocks. A stronger yen also weighed on sentiment, with chip-related stocks leading the decline. Renesas Electronics fell 3.9%, SoftBank Group slumped 7.3%, and Advantest plunged 6.1%. In the forex market, USD/JPY moved to 152.95 from 153.87 at Thursday's close in Tokyo. A stronger yen typically weighs on exporters because overseas earnings are eroded upon conversion, putting pressure on the technology and chip component sectors. Investors are now awaiting the release of financial reports and details of Prime...
European stocks closed sharply lower on Thursday after a brief uptick the previous day as investors weighed a fresh round of mixed corporate earnings and signs of higher unemployment in the US. The STOXX 50 fell 1% to 5,613 and the STOXX 600 fell 0.7% to 567. Commerzbank shares slipped 2% after the lender reported a surprise 7.9% year-on-year drop in net profit. Also, Diageo fell 6.5% following a downgrade to its full-year outlook, while Maersk lost 5.1% despite posting upbeat results and Rheinmetall fell 0.5% despite posting a 20% increase in sales. On the upside, DHL jumped 5.4% to rank...
Strong evidence of a cooling US labor market rippled through Wall Street, spurring a rally in bonds as traders boosted their bets the Federal Reserve will cut rates in December. A slide in megacaps dragged down stocks. With the scarcity of data caused by the federal shutdown, investors have turned to private readings such as the Challenger, Gray & Christmas Inc. report showing companies announced the most job cuts for any October in over 20 years. Following the numbers, money markets now imply an about 60% chance of a...
The Hang Seng Index rose 2.1% at 26,485.90 in Hong Kong. The move was the biggest since rising 2.4% on Oct. 20 and follows the previous session's decrease of 0.1%. Today, commerce and industry stocks led the market higher, as all sectors gained; 83 of 88 shares rose, while 4 fell. Alibaba Group Holding Ltd. contributed the most to the index gain, increasing 4.1%. China Hongqiao Group Ltd. had the largest increase, rising 9.9%. Source : Bloomberg
European stocks opened lower on Thursday, as investors reacted to another flurry of corporate earnings. The pan-European Stoxx 600 was 0.3% lower 20 minutes into the session, with most sectors and major bourses in negative territory. France's CAC 40 led losses among major regional indexes, with a decline of 0.7%. It's a busy day for earnings with third-quarter reports due from a slew of regional companies. AstraZeneca CEO: ‘We decided to be cautious' AstraZeneca held its guidance steady on Thursday morning, after reporting better-than-expected third-quarter revenues and profit. Total...