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...
The Dow fell 320 points from yesterday's record close, the S&P 500 fell 0.4%, and the Nasdaq fell 0.9% as markets digested a mix of earnings reports and new trade risks after Reuters reported the White House was considering restrictions on exports to China made with U.S. software. Netflix plunged 10% after its performance was impacted by a tax dispute in Brazil. Tesla fell 1.4% ahead of its earnings report following news that some newly assembled vehicles could experience sudden battery power loss. On the earnings front, TI fell 5.9% on disappointing forecasts, weighing on other...
European stock markets closed mostly lower in Wednesday trading as The Stoxx Europe was off 0.15%, Germany's DAX declined 0.71%, France's CAC lost 0.63%, and the Swiss Market Index was down 0.07%, while the FTSE in London rose 0.93%. Annual inflation in the UK remained unchanged at 3.8% in September, according to the Office for National Statistics, which was below analyst forecasts of 4.0%, according to Bloomberg. Core inflation, which excludes energy, food, alcohol and tobacco, rose by 3.5% annually in September, down from 3.6% in August. Analysts expected core inflation to increase by...
European stocks fell after a sluggish session on Wall Street, weighed down by disappointing results from L'Oréal SA and Hermes International SCA. The Stoxx Europe 600 fell 0.3% as of 8:17 a.m. in London. The technology sector fell 1.2% after Texas Instruments Inc. provided a weaker-than-expected outlook, adding to concerns that the semiconductor industry's recovery is faltering. Meanwhile, mining and energy stocks led gains. Britain's FTSE 100 Index outperformed, rising 0.5%, as easing inflation reinforced expectations that the Bank of England will cut interest rates in the coming months....
The Nikkei 225 closed nearly flat on Wednesday (October 22nd), hovering around 49,308 (-0.02%), after a rally to its previous record triggered profit-taking—particularly in technology stocks—leading to volatile movement throughout the session. This "flat" closing tone aligns with the weakening technology sector in Asia following Wall Street's sluggish performance. On the sentiment side, the market weighed news that new Prime Minister Sanae Takaichi is preparing a large stimulus package—a factor that temporarily curbed intraday declines—as well as data showing Japanese exports rose 4.2%...
The Hang Seng Index fell 0.7% to 25,842.83 as of 10:00 a.m. local time, following a pause in Wall Street's rally as the S&P 500 stalled and the Nasdaq slipped 0.2%. Pressure came from tech stocks: NetEase slumped 3.3% to HK$232.40, Alibaba fell 2.3% to HK$161.30, and Baidu retreated 2% to HK$115. Precious metals stocks also took a hit—Zijin Mining fell 5.6% to HK$30.58 and jewelry retailer Chow Tai Fook fell 4.3% to HK$15.91—as gold held below US$4,100/oz after a sharp correction and silver weakened 7.9% to US$48.54. Index losses were limited by Pop Mart International's 4.5% surge to...