Stocks rose on Monday as Wall Street tried to regain its footing after a week in which the artificial intelligence trade lost some steam. The Dow Jones Industrial Average traded 70 points higher, or 0.2%. The S&P 500 climbed 0.4%, and the Nasdaq Composite advanced 0.6%. AI-related stock Nvidia rose after skepticism around the AI trade put pressure on the broader stock market last week. Some traders even questioned whether there was enough energy to power an infrastructure plan between Nvidia and OpenAI. Nvidia was last up more than 2%. Meanwhile, shares of Electronic Arts jumped more...
European stock markets are heading for a mixed open on Friday as attention turns to inflation prints from some of the region's biggest economies, along with the U.S. Price rise data is due from France, Spain, Italy and Germany, ahead of the flash August reading for the euro area next Tuesday. Stateside, investors will be monitoring the personal consumption expenditures price index, a key metric for the Federal Reserve. It comes after Fed Chair Jerome Powell stoked expectations for an interest rate cut in September with a speech last week widely interpreted as dovish-tilting. Interest rate...
Japanese stocks plunged on profit-taking ahead of the release of US personal consumption expenditures data.The Topix index fell 0.5% to 3,075.18 as of 3:30 p.m. Tokyo time.The Nikkei fell 0.3% to 42,718.47."Investors are cautiously monitoring US economic indicators ahead of a possible US interest rate cut in September," said Naoki Fujiwara, senior investment manager at Shinkin Asset Management.The sell-off spread across sectors, hitting exporters such as electronics and automakers, as well as banks and insurance companies. Toyota Motor contributed the most to the Topix decline, falling 1.6%....
Hong Kong stocks rose 191 points or 0.8% to 25,183 on Friday morning trade, rising for the first session in four after Wall Street's S&P 500 and Dow Jones closed at record highs overnight on stronger-than-expected U.S. Q2 GDP growth. Gains were broad-based, led by consumer, financial, and property shares. Trip.com climbed 3.8% after logging stronger revenues, while Ping An Insurance jumped 2.7% on plans to buy more equities, following increased allocations to high-dividend Hong Kong-listed banks earlier this year. Pharma stocks also outperformed, with Wuxi Biologics up 5.2%, followed...
Asia-Pacific markets traded mixed on Friday, breaking ranks from Wall Street gains as investors also assess a slate of economic data in the region. Japan's Nikkei 225 slid 0.31%, while the Topix lost 0.39% after core consumer prices in Tokyo rose at a slower pace in August. The Tokyo core CPI, which strips out fresh food but includes energy, climbed 2.5% from a year earlier, matching Reuters' economists' forecasts, and easing from July's 2.9% increase. The figure however remained above the Bank of Japan's 2% target. Japan's unemployment rate also eased to 2.3% in July, down from 2.5% the...
Japanese stocks may trade rangebound as uncertainty over the U.S. tariff impact on earnings continues. Nikkei futures are flat at 42920 on the SGX. USD/JPY is at 146.87, compared with 147.17 as of Thursday's Tokyo stock market close. Investors are focusing on Japanese economic data, including industrial production due later, as well as domestic politics. Consumer prices, excluding volatile fresh food, rose 2.5% from a year earlier for August in Tokyo, matching a 2.5% rise expected, government data showed earlier Friday. The Nikkei Stock Average rose 0.7% to 42828.79 on Thursday....