The S&P 500 advanced on Thursday as Wall Street attempted to recover its footing amid a losing streak for the benchmark index. Investors also continued parsing the latest corporate earnings reports. The broad index added 0.5%, while the Nasdaq Composite rose 0.4%. The Dow Jones Industrial Average jumped 225 points, or 0.8%, boosted by a rally of more than 3% in UnitedHealth. The S&P 500 has slid more than 1% so far in the week, while the Dow traded near flat for the same period. The Nasdaq has tumbled more than 2.5% this week as technology shares struggled. That puts the index on...
European stocks closed lower Thursday, as mounting fears of an impending recession weighed on investor sentiment. The pan-European Stoxx 600 closed 0.8% lower at 402.40, with autos slumping 3.6% to lead the losses as most sectors and major bourses slipped into the red. In terms of individual share price movement, Deutsche Bank and Commerzbank led a broad slump in bank shares, each slipping around 12%. Aroundtown fell nearly 7% after JPMorgan downgraded the real estate company's stock to "underweight" and cut its target price. Toward the top of the Stoxx 600, French IT company Atos jumped...
Stock rose on Thursday, as the market tried to recover some of the steep losses suffered in 2022, even as Wall Street continued to weigh recession risks. The S&P 500 traded 0.5% higher, while the Dow Jones Industrial Average were up 130 points, or 0.4%. The Nasdaq Composite rose 0.9%. The major averages came into Thursday's session posting strong gains for the week. The S&P 500 and the Dow are up more than 2% in that time, while the Nasdaq has risen about 3%. Federal Reserve Chair Jerome Powell is set to speak on monetary policy for a second day Thursday with congressional...
HONG KONG stocks closed on Thursday (Jun 23) on a positive note as bargain buyers moved in following a hefty sell-off, with tech firms boosted by hopes China is easing back on its crackdown on the sector. The Hang Seng Index climbed 1.26 per cent, or 265.53 points, to 21,273.87. The Shanghai Composite Index rose 1.62 per cent, or 52.95 points, to 3,320.15, while the Shenzhen Composite Index on China's second exchange jumped 2.08 per cent, or 44.18 points, to 2,164.01. Source: AFP
Stock futures fell Thursday and oil prices declined after Federal Reserve Chairman Jerome Powell acknowledged a recession in the U.S. will be hard to avoid as the central bank fights a rapid rise of inflation. Contracts linked to the Dow Jones Industrial Average were down 149 points, or 0.5%, to 30,321, S&P 500 futures fell 0.5% and Nasdaq futures declined 0.4%. Oil prices fell on fears that an economic slowdown will crimp demand. West Texas Intermediate crude oil, the U.S. benchmark, declined 2.1% to $103.97 a barrel. That's down from a multi-month peak of $122 just a few weeks...
European shares fell as Federal Reserve Chair Jerome Powell's comments fueled renewed fears of a recession, while commodities-linked sectors slumped. The Stoxx Europe 600 Index was 0.6% lower by 8:05 a.m. in London. Energy shares declined as oil dropped and miners fell with metals. Fed Chair Powell gave his most explicit acknowledgment to date that steep interest-rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing "very challenging." Source : Bloomberg