Hong Kong stocks sank at the open on Friday morning as traders fret over the rumbling crisis in the Middle East and the prospect that the Federal Reserve will not cut interest rates as much as hoped this year. The Hang Seng Index fell 0.85 percent, or 139.53 points, to 16,246.34. The Shanghai Composite Index retreated 0.45 percent, or 13.93 points to 3,060.30, while the Shenzhen Composite Index on China's second exchange lost 0.59 percent, or 10.00 points to 1,688.93. Source : AFP
The Dow Jones Industrial average tumbled more than 600 points on Wednesday as investors took profits on some of the strong 2023 January gains and as a disappointing December retail sales reading raised concerns about a recession. Shares of banks led the losses. The Dow Jones Industrial Average fell 612 points, or 1.8%, while the S&P 500 lost 1.6%. The Nasdaq Composite lost 1.2% and was on pace for its first down day in the last eight. Microsoft announced plans to lay off about 10,000 employees, which hurt investor sentiment. The stock fell and dragged the Dow lower with it. In...
European markets closed cautiously higher Wednesday as uncertainty persisted on the economic outlook, a topic high on the agenda at the World Economic Forum in Davos this week. The pan-European Stoxx 600 index closed 0.2% higher provisionally, with basic resources climbing 2.3% to lead gains while food and beverage stocks fell 1.4%. Meanwhile, the annual rate of inflation in the U.K. fell in December to 10.5% -- slightly below analyst expectations. It marked the second month of declines, after the rate slipped from a 41-year high to 10.7% in November. Source : CNBC
US stocks turned sharply lower as weak economic data rekindled concern over the outlook for growth, overshadowing earlier optimism the Federal Reserve will downshift its tightening policy. Treasuries rallied and the dollar fell. Both the S&P 500 and Nasdaq 100 fell to session lows, with the tech-heavy gauge reversing gains of more than 1% on the back tumbling Treasury yields. The blue-chip Dow Jones Industrial Average led the retreat, sliding 1%. Growth in producer prices fell more than expected last month, and the drop in retail sales exceeded estimates, fueling bets on an end to the...
U.S. stocks opened moderately higher on Wednesday after a report on wholesale prices showed growth slowed by more than economists had expected last month -- another sign that inflation has continued to recede since peaking over the summer. The S&P 500 increased by 15 points, or 0.4%, to 4,005. The Dow Jones Industrial Average increased by 60 points, or 0.2%, to 33,971. The Nasdaq Composite gained 82 points, or 0.7%, to 11,176. Data released before the open showed U.S. wholesale prices slid 0.5% in December, the biggest decline since April 2020. Source : Marketwatch
U.S. stock futures traded slightly higher early Wednesday morning. Futures tied to the Dow Jones Industrial Average gained 37 points, or 0.11%. S&P 500 and Nasdaq 100 futures added 0.28% and 0.22%, respectively. Shares of United Airlines rose more than 1% in extended trading after the company beat Wall Street's estimates in the latest quarter, propelled by strong travel demand. Meanwhile, shares of Moderna jumped more than 6% in extended trading after the pharmaceutical company said its vaccine targeting respiratory syncytial virus can prevent the disease in older adults. During the...