US STOCKS
Asian stocks fall after US tech slump; Yen swings: Markets wrap
Asian equities fell amid US inflation signs. Yen fluctuated due to Bank of Japan actions. Japanese shares, Kospi dropped, while Australian shares rose. Nasdaq 100 fell 2.2%. S&P 500 and small-caps gained. Rate cut optimism drove riskier investments. West Texas Intermediate rose; gold steady. July rate cut a longshot. AI boosts megacap tech. Treasury yields down.
Nvidia pulls S&P 500 lower as small caps rally
Tesla's stock dropped 6.5% following news of a two-month delay in its robotaxi launch, as reported by Bloomberg. Apple shares dipped 2.4% after reaching a record high on Wednesday, despite BofA Global Markets increasing its price target due to anticipated strong iPhone sales fueled by new AI features.
Asian stocks echo US rally ahead of inflation data: Markets wrap
Tech rally lifted Asian stocks, S&P 500, and Nasdaq 100; Taiwan Semiconductor strong. Powell hinted at rate cuts; core CPI to rise. China tightened short selling. Inflation data awaited. Japan orders, Thai confidence, Malaysia, and South Korea policies in focus. Fed cuts in 2024 expected. Global equities hit record, yen stable, Apple improved from 2023.
S&P 500 tops 5,600 for first time; Nvidia-fuelled rally lifts Wall St before inflation data
The S&P 500 and the Nasdaq achieved their fifth consecutive intraday record highs, with the benchmark index surpassing the 5,600 mark for the first time. This surge was fueled by increased optimism for an interest-rate cut in September, following Jerome Powell's statement that the U.S. was "no longer an overheated economy."
Nasdaq, S&P 500 power on as Nvidia surge lifts tech stocks
Monday marked the 35th instance of the S&P 500 setting a fresh closing record this year, as sharp gains in AI-linked and other tech shares kept equity sentiment bright, offsetting the uncertainty around the Fed's rate-cut path. However, the Dow Jones underperformed, with a more than 1% fall in Salesforce and Microsoft being the biggest drags, while the rate-sensitive small-cap Russell 2000 dropped 0.4%.
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Sensex rises over 200 pts, Nifty above 24,350 in hopes of dovish stance from Fed
Indian indices rose as markets expected dovish signals from U.S. Fed Chair Powell. Sensex up 223 points to 80,184, Nifty50 up 59 points. Key gainers included Maruti Suzuki, M&M, Adani Ports, while Tech Mahindra, JSW Steel fell. Soft inflation increased odds of U.S. rate cut to 74%. Century Textiles rose 4%. Budget, Q1 results closely watched.
Asian stocks edge higher before Powell’s testimony: Markets wrap
Asian markets rise ahead of Powell's testimony and US earnings season. Investors eye Fed's rate cut outlook and China's policy meetings. Bond markets react to PBOC actions. S&P 500 hits new high. Earnings season expectations increase. Oil stable amid Hurricane Beryl. Gold rebounds from previous losses.
S&P 500, Nasdaq notch record highs with inflation data, earnings in focus
The slower-than-expected June US job growth, as revealed in Friday's nonfarm payrolls report, has strengthened expectations of interest rate cuts as early as September. While investors seek further clarity on the Federal Reserve's monetary policy path, traders are now pricing in a higher probability of a 25-basis-point cut in September and a total reduction of approximately 50 basis points for the year.
Miners drag Australian shares lower on weaker iron ore prices
Australian shares fell due to iron ore price drops, affecting hot metal output and the S&P/ASX 200 index (7799.00). Energy stocks dropped amid Gaza ceasefire and Gulf storms. Financials and Commonwealth Bank of Australia dipped. Gold stocks rose, hitting June 11 highs, following U.S. jobs data and possible rate cuts. The S&P/NZX 50 declined 0.5%.
Stock picks of the week: 5 stocks with consistent score improvement and upside potential of up to 24%
If anyone had any doubt that both indices and broader markets are not in control of bulls, all those doubts were cleared on Friday. For the majority of the day, nifty was trading in red, thanks to the banking stocks and largely the HDFC Bank. But within minutes, Nifty changed its color to green and market breadth, which was already positive, gained momentum. So, while being bullish, stay alert and just make an attempt so that common mistakes of bullish markets are avoided. We look at stocks which have witnessed a continuous rise in their score in the last one month. These selected stocks depict a strong upward trajectory in their overall average score which is based on five key pillars i.e. earnings, fundamentals, relative valuation, risk and price momentum. This implies that there has been a significant improvement in their market outlook in the given time frame.
US stock indexes end up; Nasdaq, S&P 500 hit record highs on payrolls data
According to preliminary data, the S&P 500 gained 29.67 points, or 0.54%, to end at 5,566.69 points, while the Nasdaq Composite gained 163.04 points, or 0.90%, to 18,351.34. The Dow Jones Industrial Average rose 64.78 points, or 0.16%, to 39,372.78.
Megacaps push Nasdaq, S&P 500 to record highs after payrolls data
Major tech stocks like Microsoft, Meta, Amazon, and Apple surged to record highs, driving the information technology sector to an all-time peak. This also propelled the S&P 500 communication services sector to its highest level since 2000.
South Korean stocks rise ahead of US jobs data
South Korean KOSPI up 0.67%, driven by U.S. jobs data, Federal Reserve rate cut hopes. Samsung, SK Hynix up; LG Energy Solution down. Samsung forecasts high Q2 profit. Won appreciated, bond yields fell; Foreigners bought 411.6 billion won. Hyundai Motor flat, Kia down, Naver, Kakao up. Offshore, won at 1,378.3. Three-year treasury bond yield fell by 1 bp.
Global stocks hit peak level before US jobs data: Markets wrap
Global equities maintain record highs ahead of US jobs data. Markets anticipate potential Fed rate cuts. Emerging market equities benefit from soft US economic data. UK Labour Party projected to win big, impacting Conservative performance. France prepares for final round of parliamentary elections.
GIFT Nifty signals a positive start for D-Street. Here's the trading setup for today's session
Indian equities surge with Nifty crossing 24300 and Sensex breaching 80000. Tech view sets 24900 as the next target. Dollar weakens, oil prices fall, and rupee settles lower. FII net long increases to Rs 3.78 lakh crore. DIIs buy shares worth Rs 924 crore.
Asian stocks climb, Yen rallies off historic lows: Markets wrap
Investors await US jobs report and British election outcome. Unemployment rate expected to remain steady. Chicago Fed President comments on interest rates.
S&P 500, Nasdaq post record closing highs as data feeds rate cut hopes
U.S. stocks closed mixed on Wednesday, with the S&P 500 and Nasdaq reaching record highs due to optimism about potential Federal Reserve interest rate cuts in September spurred by signs of a slowing economy. However, the Dow Jones Industrial Average remained relatively flat, weighed down by healthcare and consumer stocks in a shortened trading session ahead of the Fourth of July holiday.
US stocks back at records while European bourses retreat
Wall Street equity indices advanced to fresh records Tuesday as markets embraced commentary from Federal Reserve Chair Jerome Powell, while European bourses retreated on unease about upcoming French elections. But bourses in Paris and Frankfurt both retreated amid concerns about the potential economic fallout should the far right win power in France in weekend elections.
Tesla, megacaps drive S&P 500, Nasdaq up; Powell in focus
Powell told a panel that recent economic data represented "significant progress," though noting the Fed needed to see more before changing policy. Meanwhile, Chicago Fed President Austan Goolsbee noted he sees some "warning signs" of economic weakness and that central bank's goal is to get inflation down without stressing the labor market.
Asian stocks fluctuate as traders weigh Trump win
Asian stocks fluctuated amid US election uncertainty. Markets in Japan, Australia, and South Korea remained stable. Yields on 10-year Treasuries held steady. Wall Street edged higher with tech megacaps leading the rally. The Democratic National Committee considers early Biden nomination. Supreme Court ruling on Trump's immunity affects the election. Fiscal deficit policies are investors' focus.
Megacaps boost Nasdaq in choppy trade; jobs data in focus
Semiconductor stocks such as Advanced Micro Devices, Arm Holdings and Micron Technology fell between 1% and 4%, pulling the Philadelphia SE Semiconductor index to a near one-week low.
Asian stocks stutter, euro gains after first round vote in France
The euro was 0.32% higher at $1.0747, while European stock futures rose 1% as exit polls showed Marine Le Pen's eurosceptic National Rally emerged ahead in the first round of the French vote but with fewer votes than some analysts had forecast.
High-speed traders, short sellers face growing Asia crackdown
The controversial nature of such restrictions is on full display in South Korea, where a short-selling ban hurt its attempts to win an upgrade from MSCI Inc. These developments show the difficulties policymakers have in keeping up with increasingly sophisticated trading strategies and their impact on financial markets, a challenge that’s only set to grow with the adoption of artificial intelligence.
Where US stock market is headed after wild first half: 5 charts
A boom in artificial intelligence fueled a blistering first half for the US stock market, and traders expect to see the same — and more — in the remainder of the year.
US stocks edge up ahead of presidential debate, inflation data
The broad-based S&P 500 gained 0.2 percent to 5,488.04, while the tech-rich Nasdaq Composite Index advanced 0.3 percent to 17,863.99.
Asia stocks down, yen slump keeps markets on intervention alert
Inflation concerns impact markets worldwide, driving bond yields up and Asian shares down. Currency markets watch as the yen weakens, prompting fears of intervention. Unexpected jumps in inflation in Australia and Canada add to market nerves before the Federal Reserve's upcoming data release.
US stocks struggle for direction as investors evaluate tech trade
Financial markets experience shifts as key tech and retail companies show varied performance. Wall Street awaits crucial inflation data. Analysts predict possible sector rotation based on earnings and inflation trends.
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