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...
The Nikkei 225 Index fell 0.7% to around 39,100 while the broader Topix Index lost 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as the market took a breather from the postelection rally. Domestically, data showed that Japan's producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to evaluate the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers which aims to strengthen critical supply chains amid ongoing US-China trade tensions. Technology stocks led the declines, with...
The Nikkei 225 index fell 0.7% to around 39,100 while the broader Topix index fell 0.3% to 2,733 on Wednesday, tracking losses on Wall Street overnight as markets took a breather from a post-election rally. Domestically, data showed that Japanese producer prices rose at the fastest pace in 14 months in October, highlighting ongoing inflationary pressures. Investors also continued to assess the impact of Japan's 10 trillion yen stimulus plan for AI chipmakers aimed at strengthening critical supply chains amid ongoing U.S.-China trade tensions. Technology stocks led the declines, with...
Asia-Pacific stock markets opened lower on Wednesday, tracking declines on Wall Street as the post-election rally in the U.S. stalled overnight. Asian traders were assessing corporate goods data from Japan, which showed year-on-year growth in producer prices, or wholesale inflation, in October hit its highest since July last year at 3.4%. That was higher than the 3% growth expected by economists polled by Reuters, and a 2.8% increase in September. Japan's Nikkei 225 was trading down 0.5% at the open, while the Topix was down 0.3%. South Korea's Kospi was down 1.1%, while the Kosdaq...
U.S. stocks finished lower on Tuesday as Wall Street took a breather from a postelection rally that propelled the major stock indexes to all-time highs. The Dow Jones Industrial Average lost 0.9%, ending near 43,910, according to preliminary data from FactSet. It was the worst day for the blue-chip index since Oct. 31, according to Dow Jones Market Data. The S&P 500 was off 0.3%, to finish around 5,984. The large-cap benchmark index snapped a five-session winning streak. The Nasdaq Composite dropped less than 0.1%, leaving it nearly flat at 19,281. Stocks viewed as beneficiaries of...
European markets fell sharply on Tuesday, with the Stoxx 50 and Stoxx 600 dropping over 2%, marking the biggest decline since August. Investors are concerned about how US President-elect Donald Trump's return to office might impact Europe's economy. Most sectors were in the red, with mining stocks leading the losses, down by 4% due to lower metal prices like gold and copper. Technology stocks were the only sector to see slight gains. Investors are also focusing on economic data, with the ZEW Indicator of Economic Sentiment for Germany declining more than expected. Also, German inflation...