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...
European stocks rallied on Thursday, driven by the energy sector and mixed results from major companies. The Stoxx Europe 600 Index rose 0.2% in early London trading, with energy stocks leading the gains after Brent oil prices jumped 4%. This surge came after the United States imposed sanctions on two Russian oil giants, Rosneft and Lukoil, for their perceived lack of commitment to peace in Ukraine. On the corporate side, Nokia surged 11% thanks to strong demand for its cloud and artificial intelligence services, while Volvo Cars soared 23% after posting above-expected profits. Conversely,...
Japanese stocks weakened on Thursday as new Prime Minister Sanae Takaichi prepared for challenging, major budget negotiations. The Nikkei 225 index fell 0.24%, or 94.09 points, to close at 38,814.56. The pressure arises as Japan must balance Takaichi's fiscal stimulus plan with its $550 billion investment obligation to the United States under the tariff agreement reached by her predecessor. If the funds are not disbursed before US President Donald Trump's term ends in January 2029, tariffs on Japanese goods could surge above 15%. To reduce the fiscal burden, Takaichi plans to partner with...
The Hang Seng Index opened lower by 63 points, or 0.24%, to 25,718, followed by the H-Share Index, which fell 0.34%, and the Technology Index, which fell 0.67%. This decline was driven by the decline in major technology stocks such as Tencent, Meituan, Xiaomi, JD.com, and Kuaishou, which all fell between 0.4% and 1%. Alibaba was the only major stock in this sector to remain stable. In the financial sector, stock movements were more mixed. HSBC Holdings and AIA Group recorded small gains of 0.1% and 0.2%, respectively, while Ping An and the Hong Kong Stock Exchange weakened slightly....
Asia-Pacific markets fell Thursday, tracking Wall Street's declines on concerns about U.S.-China trade relations. Trade fears resurfaced after Reuters reported Wednesday stateside that the Trump administration is considering curbs on exports to China that are made with U.S. software, citing a U.S. official and three people briefed by U.S. authorities. The sources said that the plan, which could cover a wide range of items from laptops to jet engines, might not move forward, however, and that it's not the only option that's being discussed. Japan's benchmark Nikkei 225 index retreated...
Japanese stocks are lower following their recent surge driven by hopes for newly elected Prime Minister Sanae Takaichi's economic measures. The market is also weighed by continuing U.S.-China trade tensions and new U.S. sanctions on Russian oil giants. Chip-related stocks are leading declines. Tokyo Electron Ltd. is down 3.8%, SoftBank Group is 3.2% lower and Renesas Electronics is down 3.6%. USD/JPY is at 152.13, compared with 151.80 as of Wednesday's Tokyo stock market close. Investors are closely watching any details of Takaichi's policy steps. The Nikkei Stock Average is down 1.4% at...