GENEVA — Fear of seeing a high inflation print today has been a nightmare for the tech stocks since the beginning of the week.
Technology stocks are under a decent selling pressure, even though Nasdaq could recover some 2% of earlier losses to close (...)
GENEVA — The Chinese GDP grew at a record pace in the first quarter, +18.3% from 6.5% printed a quarter earlier. The Chinese growth figure could be seen as a rebound ball after the pandemic-hit economy recovers quickly toward normal activity (...)
GENEVA — The US inflation jumped to 2.6% year-on-year in March, slightly higher than 2.5% penciled by analysts, and the halt in Johnson & Johnson's vaccine pulled away the attention from rising consumer prices to an endless pandemic that boosted to (...)
GENEVA — Bitcoin could renew record ahead of Wednesday's much-expected Coinbase IPO, as a good debut for Coinbase in Nasdaq will mark the first official juncture between the traditional financial avenue and the alternative crypto path.
As such, a (...)
GENEVA — The week started on positive note in Asia, as Friday's soft US data spurred expectation that Joe Biden's $1.9 trillion fiscal aid package could soon hit the street without the Republican approval.
Last week's jobs data was a mixed bag. The (...)
Major stock indices brushed off last week's pessimism and recorded a strong rebound on Monday. In the dearth of a plausible explanation, Monday's stock rally was put on the back of investors getting comfortable with the idea that the short squeeze (...)
On Sunday, silver coins and bars were taken by assault; outlets were unable to process orders until markets opened in Asia. Silver jumpstarted the week hitting $29 an ounce, as pajama traders piled into the metal they considered undervalued in a (...)
GENEVA — The Federal Reserve (Fed) Chair Jerome Powell brought a new policy approach on the table at Thursday's Jackson Hole meeting, tweaking the Fed's inflation target from 2% to ‘2% over time' as expected. The latter change will allow the Fed to (...)
GENEVA — Hurricane Laura could be the worst to hit the Texas-Louisiana border in the last 160 years, but the oil market remains surprisingly calm faced with a potentially meaningful supply disruption in the US south coast.
If a hurricane cannot give (...)
GENEVA — The S&P500 (+0.36%) and Nasdaq (+0.76%) advanced to new records on Tuesday, as investors continued betting on accommodative Federal Reserve (Fed) policy to redress the US economy that has been ravaged by the pandemic, but Fed Chair Powell's (...)
GENEVA — Asian markets opened the week on a slightly upbeat note following a positive close in the US on Friday. Stocks in Sydney (+0.14%) and Tokyo (+0.05%) were flat, and the Hang Seng (+1.84%) led gains as investors swapped their US-listed (...)
GENEVA — US equity indices edged higher, as Nasdaq (+1.06%) rallied to a new record on Thursday, on concerns that the COVID-19 environment would last longer and maintain the strong demand in tech and online services.
China's e-commerce giant Alibaba (...)
GENEVA — The S&P500 (-0.44%) came off from its record highs following the Federal Reserve's (Fed) reluctance to offer more guidance immediately.
The minutes of the FOMC's last meeting proved to be slightly less dovish than previously as policymakers (...)
GENEVA — The S&P500 (+0.23%) finally closed above its February, and all-time high. This was the fastest rebound from a bear market after the pandemic-induced sell-off erased more than 20% of its value in the first quarter of the year. Nasdaq closed (...)
GENEVA — The US dollar sank to a two-year low after the Empire Manufacturing index warned that the business conditions in the US deteriorated significantly more than expected in August, with the headline figure showing a decline to 3.7 from 17.2 (...)
GENEVA — US equities edged lower, except for technology stocks as standstill fiscal talks in the US limited the appetite for more equity purchases as the major US indices fluctuated near their all-time highs. The treasury yields rose after the (...)
GENEVA — The downside correction in US technology stocks didn't last long. Nasdaq rebounded more than 2% on Wednesday, and the S&P500 (+1.40%) traded above the all-time closing high completing a full circle to return to its pre-COVID levels.
Apple (...)
GENEVA — US stocks sold sharply into the closing bell on stalling fiscal stimulus discussions in the US. Broad profit taking on tech stocks sent Nasdaq 1.69% down on Tuesday, but utilities and real estate led losses in New York on mounting worries (...)
GENEVA — European markets opened the week on a neutral note, the US' blue-chip stocks gained on Monday, while tech giants retreated with the exception of Apple shares. Investors moved capital to industrial stocks. Oil edged higher and Asian stock (...)
GENEVA — Asian equity indices kicked off the week on a mixed note, as US stock futures recovered after a dip at the open. Stocks in Sydney (+1.68%), Seoul (+1.43%) and Shanghai (+0.42%) gained, but the Hang Seng (-0.36%) slid. Tokyo was closed due (...)
GENEVA — US equity indices gained for the fifth day on hope that an additional fiscal stimulus package would soon be signed, or extra measures including enhanced benefit payments, payroll-tax holiday and student loan repayment relief would be forced (...)
GENEVA — US stocks extended gains as investors saw progress on negotiations for the US's next fiscal stimulus package as White House made some concessions to end the deadlock, although Democrats ask for more. A deal is not reached yet, but House (...)
GENEVA — US stocks posted modest gains and equities in Asia lacked direction, as better-than-expected US factory orders didn't better the mood in the absence of an agreement for more US fiscal stimulus and rumors that the US and China will review (...)
GENEVA — US and European stock markets advanced on the back of promising economic data on Monday. Technology stocks led gains. The DAX rallied 2.71% and Nasdaq (+1.47%) renewed record as investors continued piling into technology stocks favorable (...)
GENEVA — Equities in Tokyo (+2.10%) and Shanghai (+1.08%) kicked off the week on a positive note on the back of promising economic data. The Japanese GDP printed 2.2% y-o-y contraction in the second quarter versus -4.4% expected by analysts and the (...)