Nvidia’s stock rocketed up to 14% in pre-market trading after data revealed that demand for artificial intelligence computing hardware is growing. The business, which is on the cusp of overtaking Alphabet Inc. in market value, has been the most significant driver of US stock market gains this year. The prospect of large-scale IT investment fueled … Read more
A barometer of Hong Kong-listed Chinese enterprises rose as much as 4%, coming within 1% of erasing all year-to-date losses. The CSI 300 Index of mainland stocks increased by 2.2%. Property developers led the gains as banks increased lending support for the ailing industry. A new ban on quant funds’ trading has also alleviated fears … Read more
US equities finished lower on Tuesday as investors turned to large retailer results to gain insight into consumer resilience despite concerns about the likelihood of a “soft landing.” The tech-heavy Nasdaq Composite (^IXIC) led the falls, falling over 1%. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) both declined 0.6% and 0.2%, respectively, … Read more
As several of the world’s largest economies enter recession, the United States continues to thrive. Both Japan and the United Kingdom indicated Thursday that their economies will most likely deteriorate in the final three months of 2023. For each, it would be the second quarter in a row, which meets one lay definition of a … Read more
Despite a poor retail sales data that sparked concerns about a “soft landing” for the US economy, stocks surged on Thursday, with the S&P 500 (^GSPC) reaching a new record high. The Dow Jones Industrial Average (^DJI) increased by 0.9%, or over 350 points, while the tech-heavy Nasdaq Composite (^IXIC) gained 0.3%. The S&P 500 … Read more
The S&P 500 set a new high despite losses in its most significant sector: technology. A dip in retail sales helped calm investors’ concerns about overheated consumer demand, especially following the worries triggered by a high inflation report earlier this week. Bonds moved little, with Fed swaps completely pricing in a rate decrease in June. … Read more
The dollar flirted with the psychological threshold of 150 yen on Tuesday and remained relatively stable ahead of a major US inflation estimate later in the day, while bitcoin rocketed to a more than two-year high. Trading in Asia remained mainly muted, with markets in China and Hong Kong still closed for the Lunar New … Read more
US stocks finished neutral on Monday, after the S&P 500 index closed at a record high the day before, as investors braced for the year’s first crucial inflation update and the next round of earnings releases. The S&P 500 (GSPC) finished slightly below the flat line following a record-breaking week that saw the benchmark end … Read more
According to bond strategists surveyed by Reuters, the recent strong decrease in US Treasury rates is on hold until later this year, with markets pushing against the Federal Reserve’s unrelenting pushback on the need for an early interest rate cut. Benchmark 10-year rates plummeted into a tailspin around the end of the year after spending … Read more
“Keeping the age-old adage in mind that ‘trees don’t grow to the sky,’ we think it’s important to keep the party hats in the box for now,” said John Stoltzfus of Oppenheimer Asset Management. “We remain positive on stocks, view bonds as complimentary to stocks for prudent diversification and look for a further broadening of … Read more
