US stocks slipped on Tuesday on worries about the banking system after Moody’s cut the credit ratings for 10 smaller and midsized lenders. The S&P 500 fell 19.06, or 0.4%, at 4,499.38. The Dow Jones Industrial Average dropped 158.64, or 0.4%, at 35,314.49. The Nasdaq composite shed 110.07, or 0.8%,Read More →
China is set to release its trade balance on Tuesday and inflation data on Wednesday. In Japan, official data showed the country’s household spending fell 4.2% YoY in June, compared with 4% in May, remaining in negative territory for the fourth straight month. In the US, the latest consumer priceRead More →
US stocks gained on Monday, as investors awaited inflation data due on Thursday. The inflation data could provide clues to investors on the US Federal Reserve’s monetary policy path. The S&P 500 rose 40.28 points, or 0.90%, at 4,518.31. The Nasdaq Composite added 84.73 points, or 0.61%, at 13,993.97. TheRead More →
Asian markets traded lower on Monday following a weak trend on Wall Street after a mixed US jobs report. Investors will look ahead to US and Chinese inflation figures due later this week and a slew of corporate earnings. In the US, the Labor Department reported that US employers addedRead More →
In the week ahead on the Wall Street, focus of investors will be on the inflation data for July and few major earnings. The Consumer Price Index (CPI) report for July is slated to be released on 10 August and the Producer Price Index (PPI) report on 11 August. Next week,Read More →
Nearly half way into the year, a slew of consensus bets are losing big time as the US economy defies the recession bears, the artificial-intelligence craze heats up and more. Misfiring strategies include selling Big Tech stocks, snubbing the dollar, and buying into the promise of emerging market equities asRead More →
On the Wall Street in the week ahead, investors will focus on earnings reports of megacaps such as Microsoft, Morgan Stanley, Bank of America, IBM, Tesla and Netflix. Investors will also watch for economic reports including the Empire Manufacturing data, the June retail sales report and home sales report. NextRead More →
A report from ADP Research Institute showed hiring by private employers in the US was much stronger in June than economists expected, with nearly twice as many jobs created than forecast. Strong labour market data spurred the threat of inflationary pressures, leaving room for more rate hike by the Fed.Read More →
Apple share price hit a record high on Wednesday with its market capitalization crossing above $3 trillion during the day. The stock, however, ended 0.6% higher at a record high for the second consecutive session at $189.25, putting its market value at $2.98 trillion at the close, according to Refinitiv data. Read More →
All three major US stock indexes ended red, with megacap momentum stocks pulling the tech-heavy Nasdaq to the sharpest decline, down 1.16%. The Dow Jones Industrial Average fell 12.72 points, or 0.04%, to 33,714.71, the S&P 500 lost 19.51 points, or 0.45%, to 4,328.82 and the Nasdaq Composite dropped 156.74Read More →
