Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
On Friday, the S&P 500 closed mostly flat, while the Nasdaq gained 0.1%. The Dow, however, dropped 86 points, extending its losing streak to seven sessions, marking its longest stretch since 2020. Losses in major tech stocks like Nvidia (-2.2%), Meta (-1.6%), and Amazon (-0.6%) weighed on the market, while Tesla saw a 4.3% surge, closing record high of $436.23. Broadcom surged 24.4%, hitting a $1 trillion market cap after reporting a 220% increase in AI-related revenue, exceeding expectations. This boost lifted semiconductor stocks, including Marvell (+10.8%) and Taiwan Semiconductor...
European markets closed lower Friday as investors reacted to disappointing data prints from two of the region's largest economies. The pan-European Stoxx 600 provisionally closed 0.62% lower, also recording a weekly loss after three weeks in the green. Friday's downbeat mood followed unexpected declines in both U.K. GDP and key export data from Germany. The U.K. economy contracted by an estimated 0.1% on a monthly basis, the ONS said Friday, with officials attributing the downturn to a decline in production output. Economists polled by news agency Reuters had projected a 0.1% rise in GDP...
The S&P 500 rose Friday, boosted by gains in tech, but the benchmark was still on track for its first weekly decline in four weeks. The broad market index was up 0.3%, and the Nasdaq Composite gained 0.5%. The Dow Jones Industrial Average advanced 101 points, or 0.2%. Broadcom gained around 20% after posting fiscal fourth quarter adjusted earnings that beat estimates and reporting that artificial intelligence revenue soared 220% for the year. Micron and Nvidia followed Broadcom higher in early trading. The moves come on the heels of a losing session on Wall Street. The 30-stock Dow...
European markets opened lower on Friday as investors reacted to disappointing data from the region's two largest economies. The pan-European Stoxx 600 fell 0.18% after the opening bell, following an unexpected contraction in UK GDP and key export data from Germany. The UK economy contracted by about 0.1% on a month-on-month basis, the ONS said on Friday, with officials attributing the decline to a drop in output. Economists polled by Reuters had projected a 0.1% rise in GDP in October. On Thursday, the European Central Bank cut its main interest rate by 25 basis points, marking its fourth...
The Hang Seng plunged 426 points, or 2.1%, to close at 19,971 on Friday after a strong session the previous day, weighed down by heavy losses across sectors. Investors were disappointed after China's Central Economic Work Conference ended without providing specific policy details on fiscal stimulus, although top leaders pledged to spur consumption. Traders were also cautious ahead of next week's FOMC meeting, with some experts warning that a recent pick-up in U.S. inflation could delay or alter plans for interest rate cuts next year. In China, November activity data including industrial...