|Day's range||19,231.13 - 19,463.61|
|52-week range||14,597.31 - 22,700.85|
Will the Fed continue to raise interest rates at their June meeting? Belpointe Chief Strategist David Nelson breaks down how the Fed's upcoming decision could impact markets while commenting on China's economic growth outlook.
Much of the economic data coming out of China has been weaker than expected. Katy Kaminski, AlphaSimplex Chief Research Strategist, tells Yahoo Finance Live that some investors may have been "over optimistic" about China's post-pandemic recovery.
Wall Street stocks advanced on Thursday powered by gains in tech, while Treasuries rose after fresh data pointed to a cooling US labour market that would support the case for a pause of interest rate rises by the Federal Reserve next week. Investors returned to tech, with the tech-heavy Nasdaq Composite adding 1 per cent and the NYSE Fang+ index of 10 highly traded tech stocks rising 2 per cent, reversing its losses from the previous session. The gains in US equities also came after fresh data showed the number of new applications for unemployment aid rose to 261,000, the highest level since October 2021 — bolstering hopes the Fed will refrain from raising rates at its meeting next week.
US stocks fell on Wednesday dragged lower by tech, while Treasuries slid after an unexpected increase by the Bank of Canada stoked expectations that central banks may not be done raising rates. The tech-heavy Nasdaq Composite fell 1.3 per cent. The index has risen almost 8 per cent since the end of May, outperforming the S&P 500 and the Nasdaq Composite over the same period, which have both risen 2 per cent.
Wall Street stocks followed Europe, mainly slipping into the red on news that US mortgage approvals for home purchases fell to their lowest level in nearly 30 years in May.
Wall Street stocks rose on Tuesday, led by financials and consumer discretionary stocks as investors consider the path forward for US monetary policy. Wall Street’s benchmark S&P 500 finished 0.2 per cent higher, just short of the technical bull-market territory it briefly entered on Monday after it had risen more than a fifth above its recent low in October 2022. Financial and consumer discretionary stock led the gains on the blue-chip index, with both sectors rising about 1 per cent. Regional banking stocks advanced, with the KBW Regional Banking index 5.4 per cent higher.
A major dam at a hydro-electric power plant on the Dnipro river in the southern Kherson region of Ukraine has been blown up. Ukraine's military has accused Russian forces for the attack on the Nova Kakhovka.
US stocks advanced on Friday, with the S&P 500 index recording its biggest one-day rise since April, after traders cheered the latest jobs report and the passage of the debt ceiling bill in the Senate. The Wall Street benchmark S&P 500 rose 1.5 per cent to its highest level since August, marking its third straight week of gains with a 1.8 per cent increase. The tech-heavy Nasdaq Composite added 1.1 per cent to a level last reached in April 2022.
(Bloomberg) -- US-listed Chinese stocks jumped in premarket trading after Bloomberg News reported that regulators are considering new measures to aid the property market, buoying hopes that Beijing may roll out policy stimulus to reinvigorate a faltering economic recovery.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthAmazon Is in Talks to Offer Free Mobile Service to US Prime MembersRich Latin Americans Transform Laid-Back Madrid Into a New MiamiInside the Maki
(Bloomberg) -- The sharpest rally for Chinese stocks in three months is doing little to convince money managers that the market is set for a sustained turnaround.Most Read from BloombergChina Is Drilling a 10,000-Meter-Deep Hole Into the EarthAmazon Is in Talks to Offer Free Mobile Service to US Prime MembersInside the Making of Redfall, Xbox’s Latest MisfireRich Latin Americans Transform Laid-Back Madrid Into a New MiamiHedge Funds at War for Top Traders Dangle $120 Million PayoutsAfter a punis
Hong Kong equities notched their best daily gains in three months as short sellers closed out bets against Chinese internet groups and some investors snapped up shares on hopes that a protracted sell-off for China stocks was overdone. The sudden upswing for the Hang Seng index took it 4 per cent higher on Friday. The rally on Friday was led by Chinese internet stocks, with the Hang Seng Tech index jumping 5.3 per cent. Tencent and Alibaba closed 6 and 6.7 per cent higher in Hong Kong, respectively.
British Land booted off FTSE 100 while Ocado dodges demotion.
Investors are anticipating the outcome of US debt vote and digesting the latest economic data from China.
Yahoo Finance Live's Rachelle Akuffo discusses China's economy amid the country's COVID recovery, as well as Elon Musk and Jamie Dimon visiting China this week.
Yahoo Finance markets reporter Jared Blikre breaks down the market amid the tentative debt ceiling deal and the upcoming Fed meeting.
(Bloomberg) -- Chinese stocks are facing one grim milestone after another, with waning investor confidence signaling that things will likely get worse before getting better. Most Read from BloombergWinklevoss Twins Attempt Pivot After Gemini Loses Money and EmployeesPutin Orders Tighter Defenses After Drone Strikes on MoscowStock Rally Loses Steam After AI-Fueled Euphoria: Markets WrapTaiwan Rushes to Prevent China From Cutting Internet, PhonesNvidia Touches $1 Trillion Mark After Beating Rivals
Congress is expected to vote on legislation to pass the deal on Wednesday.
US stocks hit a nine-month high on Friday, propelled by solid economic data and growing investor optimism that a deal on the US debt ceiling will land in the coming days. The S&P 500 closed 1.3 per cent higher, its highest level since mid-August, in a relatively broad rally in which investors scooped up stocks more sensitive to economic growth prospects and spurning traditionally defensive sectors such as utilities, healthcare and consumer staples. The benchmark index added 0.3 per cent in the week, notching its second straight week of gains.
(Bloomberg) -- Chinese stocks in Hong Kong plunged as a weakening currency, disappointing earnings and worries over the US debt-ceiling deadlock saw traders trim positions ahead of a long weekend.Most Read from BloombergEmerging US Debt Deal Would Raise Limit, Cap Spending for Two YearsCathie Wood’s ARKK Dumped Nvidia Stock Before $560 Billion SurgeEurope’s Economic Engine Is Breaking DownCredit Suisse Loses Singapore Case Against Georgian Billionaire IvanishviliJPMorgan Tells 1,000 First Republ
(Bloomberg) -- Pictet Wealth Management, PineBridge Investments and BNP Paribas Asset Management are among a shrinking minority of global investors betting that patience will reward investors in China, even as this year’s gains in the nation’s stocks evaporate. Most Read from BloombergApple Plans to Turn Locked iPhones Into Smart Displays With iOS 17McCarthy Signals Debt Deal Optimism as US Put on Credit WatchUS Credit Rating at Risk of Fitch Cut on Debt-Limit ImpasseWorld’s Biggest Nuclear Plan
President Biden and House Speaker Kevin McCarthy have still not reached an agreement on how to raise the US government's $31.4 trillion debt ceiling.
Lower inflation and contraction in manufacturing have hit the yuan but stock markets remain undaunted.
Traders' appetite for risk was boosted by optimism over an eventual breakthrough for US debt-ceiling talks and Walmart beating expectations.
The FTSE 100 finished in the red as US debt ceiling talks stalled sparking fears of a US default.
President Joe Biden is set to meet house speaker Kevin McCarthy.