Stocks climb as megacaps lead; inflation data, earnings on deck
U.S. stocks closed higher on Wednesday as megacaps rallied, but gains were limited ahead of inflation reports and major bank earnings later in the week. Microsoft (NASDAQ:MSFT), Meta Platforms (NASDAQ:META) and Nvidia (NASDAQ:NVDA) were the biggest boosts to the S&P 500 index, as the benchmark 10-year Treasury note yield held near 4%and a…
Japan’s Nikkei 225 surges to 34-year high as BOJ pivot bets fade
Japan’s Nikkei 225 stock index rose sharply on Wednesday, reaching levels seen before the burst of a speculative bubble in the 1990s as investors bet on a delay in the Bank of Japan’s plans to end its ultra-loose policies. The Nikkei 225 index jumped 1.3% and crossed the 34,000 level for the first…
Oil prices steady after wiping out new year gains on Saudi price cuts
Oil prices steadied in Asian trade on Tuesday after falling sharply at the beginning of the week, as sharp price cuts on oil sales by Saudi Arabia ramped up concerns over sluggish demand. The world’s largest oil exporter slashed the prices of its exports to Asia and parts of Europe, with prices of…
Asian stocks muted as markets await US payrolls for more rate-cut cues
Most Asian stocks moved little on Friday as they steadied after a weak start to the new year, although anticipation of key U.S. payrolls data and persistent concerns over China kept investors on edge. Most regional markets were set to close lower for the week, after tracking losses in Wall Street over the…
Traders may end up disappointed with today’s FOMC minutes – strategists
Wall Street strategists express caution, noting that despite market optimism, immediate rate cuts are not likely. The optimism hinges on the idea of a US “soft landing” leading to a “new growth era,” drawing parallels with the 1994-1995 period, Macquarie strategists said in a note today. However, Macquarie is wary of overstating this…
Oil prices steady after weak start to 2024; rate cuts, Red Sea in focus
Oil prices steadied in Asian trade on Wednesday after logging steep losses in the prior session as the dollar rebounded on some doubts over early interest rate cuts by the Federal Reserve, while focus remained on the conflict in the Red Sea. Crude prices marked a dismal start to the new year, sinking…
Dollar starts 2024 steady, focus switches to data
The dollar was steady on the first trading day of the year as traders weighed the prospect of steep interest rate cuts from the Federal Reserve in 2024 and looked to economic data this week for clues on the central bank’s next moves. The dollar index, which measures the U.S. currency against six…
S&P 500 ekes out meager gains, flirts with bull market confirmation
The S&P 500 closed nominally higher on Thursday, retracing early gains just before the closing bell on the penultimate trading day of 2023. The benchmark index concluded the light volume session just 0.3% shy of its record closing high, reached on Jan. 3, 2022. The blue-chip Dow ended modestly green, notching its second…
Dow futures steady, S&P 500 nears record highs
US stock futures were trading higher during Wednesday night’s deals as major benchmark averages closed slightly higher overnight, with the S&P 500 index inching closer to fresh all-time highs. By 6:10 pm ET (11:10 pm GMT) Dow Jones Futures, S&P 500 Futures, Nasdaq 100 Futures were trading within a range of 0.1%. This…
Some in BOJ called for more debate on future easy policy exit -meeting summary
Some Bank of Japan policymakers called for deeper debate on a future exit from ultra-loose monetary policy as the economy makes progress toward achieving the bank’s price target, a summary of opinions at this month’s meeting showed on Wednesday. While the board agreed to maintain massive stimulus for the time being, the nine…
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