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Global Markets

Global Markets

The early gains were later pared to 131.94 yen but still helped the dollar hold firm on a basket of currencies at 103.090, having jumped 1.2% on Friday.

Asia shares slip, dollar up as US rate outlook shifts

Feb 06, 2023

Bond markets took a beating on Friday following stunning reports on jobs and services, catching speculators very short of dollars and sending the currency sharply higher.

The S&P 500 posted 36 new 52-week highs and one new low; the Nasdaq Composite recorded 162 new highs and 16 new lows.

Nasdaq, S&P 500 post strong gains on Fed relief; Meta, Apple, Alphabet surge

Feb 03, 2023

Shares of mega cap stocks Apple, Amazon, and Google parent Alphabet also gained strongly ahead of results due after market close on Thursday

Of the S&P 500's 11 major industry sectors only energy ended the day lower, down 1.9%, while interest rate sensitive technology shares were the biggest gainers, up 2.3%.

Wall St rallies as Fed's Powell nods to easing inflation after rate hike

Feb 02, 2023

The Dow Jones Industrial Average rose 6.92 points, or 0.02%, to 34,092.96, the S&P 500 gained 42.61 points, or 1.05%, to 4,119.21 and the Nasdaq Composite added 231.77 points, or 2%, to 11,816.32.

The US dollar index is down 1.3% for January so far, though it rose 0.3% to 102.19 overnight.

Dollar set for fourth monthly drop as Fed meeting looms

Jan 31, 2023

Interest-rate futures indicate market expectations for a 25 basis point (bp) hike from the Federal Reserve to take the Fed funds rate window to 4.5%-4.75%.

Shares of Apple Inc, Amazon.com Inc and Google parent Alphabet Inc, which are due to post results later this week, all slumped.

Apple, Amazon, Alphabet down ahead of earnings; Wall St drags to lower close 

Jan 31, 2023

The heavyweight tech sector dropped 1.9% while energy shed 2.3%, the biggest drop among the S&P 500 sectors.

Inflation data improved too, as personal consumption expenditures growth slowed to 2.1% year over year from 2.3% in the prior quarter while the GDP price index decelerated to 3.5%.

Stocks, dollar gain on soft landing hopes; Dow, Nasdaq up over 1%

Jan 27, 2023

Gross domestic product increased at a faster-than-expected 2.9% annual rate in the fourth quarter of last year as consumers boosted spending on goods, the US Commerce Department said.

A spreadsheet released by the exchange showed 251 affected securities. (Photo: AP)

NYSE glitch leads to busted trades, prompts investigation

Jan 25, 2023

The NYSE, which is owned by Intercontinental Exchange Inc, said a "system issue" prevented the opening auctions in a subset of its listed securities. The stocks began trading without an opening print, causing erroneous prices that the exchange said will be declared null and void.

More than 80 stocks were affected by the glitch, which caused wide swings in opening prices in dozens of stocks, including Walmart Inc and Nike Inc.

S&P 500 ends slightly down after mixed earnings, opening glitch; Alphabet down over 2%

Jan 25, 2023

A spate of NYSE-listed stocks were halted at the top of the session due to an apparent technical malfunction, which caused initial price confusion and prompted an investigation by the US Securities and Exchange Commission (SEC).

The Dow Jones Industrial Average rose 254.07 points, or 0.76%, to 33,629.56, the S&P 500 gained 47.2 points, or 1.19%, to 4,019.81 and the Nasdaq Composite added 223.98 points, or 2.01%, to 11,364.41.

Wall Street extends rally, powered by tech bounce; Nasdaq up over 2%

Jan 24, 2023

All three major stock indexes extended Friday's gains, with the tech-heavy Nasdaq leading the pack, boosted by semiconductor shares.

Investors are worried the US Federal Reserve may "overhike into a slowing environment," said Ross Mayfield, investment strategy analyst at Baird.

Stocks fall, yields up; economic slowdown worries mount

Jan 20, 2023

Wall Street stocks ended lower on recession worries, while European shares recorded their biggest daily selloff of the year and a global stock index posted a third straight day of declines.

The Dow Jones Industrial Average fell 613.89 points, or 1.81%, to 33,296.96 and the S&P 500 lost 62.11 points, or 1.56%, to 3,928.86.

Wall St sinks after weak data, hawkish Fed comments

Jan 19, 2023

Before the market opened, US economic data showed retail sales and producer prices declined more than expected in December.

MSCI's broadest index of Asia-Pacific shares outside Japan eased 0.2%, after weak earnings from Goldman Sachs overnight dragged the Dow 1% lower.

Asian shares tentative, Japan yields close to policy cap ahead of BOJ meeting

Jan 18, 2023

In early Wednesday trade, however, the 10-year yield fell to 0.485% before returning to 0.5%. Japan's Nikkei share index meanwhile gained 0.6%.

Benchmark 10-year note yields rose 2 basis points to 3.53% while two-year Treasury yields dipped 5 basis points to 4.19%.

Dollar weakens vs yen ahead of BOJ; stocks fall

Jan 18, 2023

While other central banks have been raising interest rates to control inflation, the BOJ has kept long-term rates around zero.

S&P 500 futures ESc1 and Nasdaq futures NQc1 both eased 0.1%, following a Wall Street bounce last week.

Asian shares cautious, BOJ faces crunch policy decision

Jan 16, 2023

There were even rumours the BOJ might hold an emergency meeting on Monday as it struggles to defend its new yield ceiling in the face of massive selling.

Still, a separate reading on the labor market showed weekly initial jobless claims came in at 205,000, below expectations of 215,000.

Global stocks rise, dollar stumbles after US inflation data

Jan 13, 2023

US consumer prices fell in December for the first time in more than 2-1/2 years as prices fell for gasoline and other goods, suggesting inflation was on a sustained downward trend.

The Nikkei ended the day up 0.01% at 26,449.82, after touching 26,547.61 for the first time since Dec. 27

Japan's Nikkei flat before US CPI test; banks rally on BOJ speculation

Jan 12, 2023

The Nikkei ended the day up 0.01% at 26,449.82, after touching 26,547.61 for the first time since Dec. 27. The markets initially tracked overnight Wall Street gains amid bets that a mitigation in the pace of US consumer price gains will allow the Federal Reserve to dial back the pace of its rate hikes

Due at 1330 GMT, economists expect the rise in core US consumer prices slowed to an annual pace of 5.7% in December, from 6% a month earlier. Month-on-month headline inflation is seen at zero.

Asia stocks hit 7-month high on China and CPI bets

Jan 12, 2023

Japan's Nikkei wobbled 0.2% lower. Bonds were bought around the world overnight and the US dollar wavered, to touch a seven-month low at $1.0776 per euro.

The Dow Jones Industrial Average rose 268.91 points, or 0.8%, to 33,973.01, the S&P 500 gained 50.36 points, or 1.28%, to 3,969.61 and the Nasdaq Composite added 189.04 points, or 1.76%, to 10,931.67.

Stocks rally, bond yields fall with bets on easing US inflation; S&P, Nasdaq up over 1%

Jan 12, 2023

Longer-dated treasury yields fell a day before release of December's US consumer price index (CPI) data as investors bet inflation is on a sustainable downward path that could lead the Fed to slow rate hikes or cut rates.

Traders are betting on a 25-basis point rate hike at the Fed's upcoming policy meeting in February. (Photo: Reuters)

Wall St ends higher, Powell comments avoid rate policy

Jan 11, 2023

In his first public appearance of the year, Powell said at a forum sponsored by the Swedish central bank that the Fed's independence is essential for it to battle inflation.

China's stocks opened 0.1% higher while Hong Kong's Hang Seng index gained 0.6% at the start of the day.

Asian shares subdued, dollar steady, focus on US CPI data

Jan 11, 2023

MSCI's broadest index of Asia-Pacific shares outside Japan was 0.28% higher, while Japan's Nikkei gained 1%. Australia's S&P/ASX 200 index rose 0.80%.

The Dow ended lower, and the Nasdaq Composite ended well off the day's highs.

S&P 500 near flat on chances of less aggressive rate hikes; Tesla shares up over 5%

Jan 10, 2023

Investors are awaiting comments Tuesday from Fed Chair Jerome Powell, who some strategists expect could say more time is needed to show inflation is under control.