News

Asia stocks sputter as focus shifts to China stimulus Asian stocks pared early gains on Friday as investors cautiously turned their focus to stimulus announcements from China later in the day with Beijing's week-long legislative meeting drawing to a close. Regional equities had started the day by tracking Wall Street's overnight rise to record highs, with investors digesting the Federal Reserve's message for careful interest rate cuts even with expectations for big fiscal spending under incoming President Donald Trump. U.S. Tre...
Asia stocks sputter as focus shifts to China stimulus
Asia stocks sputter as focus shifts to China stimulus
Source: Reuters
2024-11-08 09:13:12 am
Tokyo stocks end higher tracking Wall Street gains Tokyo stocks closed higher on Wednesday as confidence was bolstered by gains of stocks in the US market overnight.  Japan's benchmark Nikkei stock index, the 225-issue Nikkei Stock Average, ended up 209.92 points, or 0.58 per cent, from Tuesday to close the day at 36,442.43, Xinhua news agency reported. The broader Topix index, meanwhile, finished 28.35 points, or 1.11 per cent, higher at 2,581.90. Market watchers here noted that the Tokyo market saw strong buying across var...
Tokyo stocks end higher tracking Wall Street gains
Tokyo stocks end higher tracking Wall Street gains
Source: IANS
2024-08-14 02:13:18 pm
Stocks firm, bitcoin loses some oomph as Biden steps down Global shares steadied on Monday, after President Joe Biden's decision to bow out of the election race at the weekend injected a degree of optimism into the markets, while a surprise rate cut by China's central bank failed to give Asian markets any pep. Biden announced on Sunday he would drop out of the election race and endorsed Vice President Kamala Harris for the Democratic ticket. Online betting site PredictIT showed pricing for a victory by Donald Trump had fallen 4 cents t...
Stocks firm, bitcoin loses some oomph as Biden steps down
Stocks firm, bitcoin loses some oomph as Biden steps down
Source: Reuters
2024-07-22 08:59:07 am
Asia shares on a roll as SNB kicks off rate cuts Asian stocks were near a weekly gain on Friday and the Nikkei charged to a record high, riding a rally from its global counterparts after a surprise rate cut from the Swiss National Bank had investors wagering who could be next. The SNB's 25 basis point rate cut on Thursday proved a shot in the arm for global risk sentiment as markets raced ahead to bet on big central banks lowering borrowing costs this year, sending Wall Street closing at record highs. MSCI's broadest index of ...
Asia shares on a roll as SNB kicks off rate cuts
Asia shares on a roll as SNB kicks off rate cuts
Source: Reuters
2024-03-22 09:18:05 am
Stocks eke out gain as Nvidia rally slows, yields slip A gauge of global equity markets lost steam on Friday but still set a new high amid optimism over Nvidia's potent results, while Treasury yields fell as the market bet that the Federal Reserve will not cut interest rates until at least June. Wall Street mostly extended gains as Nvidia briefly shot above $2 trillion in market value for the first time, driven by the AI frenzy that has gripped investors since the chipmaker's blockbuster quarterly earnings report two days earlier. N...
Stocks eke out gain as Nvidia rally slows, yields slip
Stocks eke out gain as Nvidia rally slows, yields slip
Source: Reuters
2024-02-24 09:00:01 am
Yields, dollar rise after stronger-than-expected US PPI data U.S. Treasury yields rose and the dollar edged up against the yen on Friday after data showed U.S. producer prices increased more than expected in January, adding to the view that any interest rate cuts by the Federal Reserve are not imminent. U.S. stocks ended lower, while the MSCI global stock index dipped slightly. The producer price index for final demand rose 0.3% last month after declining by a revised 0.1% in December, the Labor Department's Bureau of Labor Statistics said. E...
Yields, dollar rise after stronger-than-expected US PPI data
Yields, dollar rise after stronger-than-expected US PPI data
Source: Reuters
2024-02-17 08:51:01 am
Microsoft ends week with $3.125 tn MCap, becomes most valuable company ever Microsoft ended the week with a market capitalisation of $3.125 trillion, the highest for any company ever, Barron’s reported. The company’s market value topped the previous record set by Apple, which reached $3.09 trillion in July. Apple ended Friday with a market cap of $2.916 trillion. Microsoft is also the first U.S. company to close with a market cap greater than $3.1 trillion, Barron’s reported. Microsoft stock closed the week at $420.55. Over the past 12 months,...
Microsoft ends week with $3.125 tn MCap, becomes most valuable company ever
Microsoft ends week with $3.125 tn MCap, becomes most valuable company ever
Source: IANS
2024-02-10 04:49:13 pm
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street The S&P 500 closed above the 5,000 level on Friday for the first time as bullish sentiment spreads across Wall Street and investors cheered fresh data showing progress on inflation, media reported. The landmark moment comes during a period of strong economic growth, the artificial intelligence revolution, a better-than-expected earnings season, and anticipation of a pivot from the Federal Reserve to start cutting rates, CNN reported. The S&P 500 briefly topped 5,000 for the firs...
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street
S&P 500 closes above key 5,000 level for first time as bullish sentiment spreads across Wall Street
Source: IANS
2024-02-10 03:15:02 pm
US dollar strengthening again as Wall Street accepts that interest rate cuts are coming later than expected The US dollar greenback is strengthening again after a bumpy 2023, as Wall Street accepts that interest rate cuts are coming later than previously expected, a media report said. The US Dollar Index, which tracks the dollar against the British pound, euro, Swiss franc, Japanese yen, Canadian dollar and Swedish krona, is up 2.8 per cent for the year as of Friday, CNN reported. The US currency slid last November and ended the year lower against that basket of currencies as investors grew o...
US dollar strengthening again as Wall Street accepts that interest rate cuts are coming later than expected
US dollar strengthening again as Wall Street accepts that interest rate cuts are coming later than expected
Source: IANS
2024-02-10 09:42:29 am
Cryptoverse: Will bitcoin behave better on Wall Street? Bitcoin celebrated its 15th birthday this month by bursting onto Wall Street with an ebullient bang. Now the adolescent asset may have to grow up fast. Investors have embraced 11 U.S. exchange traded funds (ETFs), tracking bitcoin's spot price, that began trading on Jan. 11 after receiving regulatory approval; after two trading days, they held a total of 644,860 bitcoin worth more than $27 billion, according to data from analytics company Glassnode. Much of that - more than 500,000 ...
Cryptoverse: Will bitcoin behave better on Wall Street?
Cryptoverse: Will bitcoin behave better on Wall Street?
Source: Reuters
2024-01-23 12:06:44 pm
Wall Street hits record high in 2023 Wall Street hit record high after record high in 2023, a year investors had feared would be a washout as elevated interest rates threatened to grind the economy to a halt, media reports said. However, a resilient job market, robust consumer spending and easing inflation kept investor confidence high — helping propel all three indexes to double-digit gains. S&P 500, the broadest measure of the US stock market closed 0.28 per cent lower on Friday, leaving it just under 30 points...
Wall Street hits record high in 2023
Wall Street hits record high in 2023
Source: IANS
2023-12-30 03:35:05 pm
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024 India could be among the three fastest growing markets for JPMorgan in the Asia Pacific region next year, alongside Australia and Japan, said a top official at the Wall Street bank."People are starting to get excited about the whole China plus one element and while other countries have benefitted, India could be the largest beneficiary," said Filippo Gori, JPMorgan's CEO for Asia Pacific told Reuters, referring to a strategy for businesses diversifying supply chains beyond China.This is becau...
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
JPMorgan sees India in its top 3 fastest-growing Asia markets in 2024
Source: Reuters
2023-09-27 09:25:02 am
Gold hovers near 1-week low as hawkish Fed boosts dollar, yields Gold edged higher on Friday, although prices lingered near a one-week low touched in the previous session as the U.S. dollar and Treasury yields reaped the returns of the Federal Reserve's hawkish stance on interest rates.FUNDAMENTALS* Spot gold was up 0.2% at $1,923.22 per ounce by 0121 GMT, having logged its biggest daily drop since Sept. 5 on Thursday. U.S. gold futures added 0.2% to $1,943.00.* The dollar stood near a six-month peak on the prospect of higher-for-longer U.S. rates, while b...
Gold hovers near 1-week low as hawkish Fed boosts dollar, yields
Gold hovers near 1-week low as hawkish Fed boosts dollar, yields
Source: Reuters
2023-09-22 09:09:39am
British chip designer Arm sets IPO price at $51 a share British chip designing giant Arm has set a price of $51 a share as it gets prepared for the biggest US initial public offering (IPO) of the year.According to The Wall Street Journal, Arm would be valued at $54.5 billion on a fully diluted basis at this price. ?That is below the $64 billion Arm owner SoftBank Group recently valued the company at when it bought out a stake held by its Vision Fund,? the report said.The Japanese investment giant SoftBank acquired Arm for $31 billion in 2016....
British chip designer Arm sets IPO price at $51 a share
British chip designer Arm sets IPO price at $51 a share
Source: IANS
2023-09-14 03:29:53pm