US stocks opened higher on Friday on hopes of a dovish Federal Reserve board after President Donald Trump’s temporary pick for a central bank governor post. As of 12:18 PM Eastern, the S&P 500 was up 0.8%, the Dow Jones Industrial Average rose 0.6%, and the Nasdaq added 0.9%. As of 9:57 AM Eastern, the…
Wall Street investors in the week ahead are expected to focus on key economic data, including monthly non-farm payrolls report, and on Senate Republicans’ push to pass US President Donald Trump’s “One Big Beautiful Act” legislation. The Republicans are planning to vote on the proposed budget reconciliation bill over the weekend. It was passed in…
(Bloomberg) — Contemporary Amperex Technology Co. Ltd. is planning to seek at least $4 billion from its Hong Kong stock offering, people familiar with the matter said, which would make it the world’s biggest listing this year. The eventual proceeds could rise to $5.3 billion if the deal is upsized and the greenshoe exercised, according…
Wall Street investors would have plenty of economic data to analyse in the week ahead. A key inflation – Federal Reserve-preferred Personal Consumption Expenditures (PCE) price index, flash PMI readings from the S&P, personal income and spending data, among other economic reports will be released. On Wednesday, the US central bank kept its interest rate…
(Bloomberg) — Asian stocks pulled back after a five-day rally that pushed a regional gauge into overbought territory, as investors turned cautious amid increasing trade tensions and geopolitical uncertainty. Hong Kong technology stocks were an outlier. The MSCI Asia Pacific Index dropped as much as 0.6% with stocks in Hong Kong and Japan declining after…
The start of the U.S.-Russian talks on ending the war in Ukraine adds another bearish geopolitical factor for oil prices this year. As top U.S. and Russian officials are meeting in Saudi Arabia to discuss the possible end of the war without Ukraine’s participation, the market is starting to come around to the potential of…
In a holiday-shortened week ahead, Wall Street investors will be focusing on home sales data and the Federal Reserve minutes of January monetary policy meeting. The markets will remain closed on Monday to mark Presidents’ Day. The week will also see other economic data including preliminary PMIs by S&P Global for services and manufacturing, and…
US stock indices were muted on Friday after mixed economic data and as investors awaited more clarity on President Donald Trump’s reciprocal tariff plans. On Thursday, Trump said his economics team will devise plans for reciprocal tariffs on every country taxing US imports, though the directive stopped short of imposing fresh tariffs. At 9:40 am…
(Bloomberg) — Amazon.com Inc founder Jeff Bezos’ $10-billion Earth Fund has ended its support for the Science Based Targets initiative, the main verifier of corporate climate targets, the Financial Times reported. The billionaire’s philanthropic entity has halted backing for the group following complaints by SBTi staff about its influence, the report said. It’s also seen…
US stocks were drifting on Friday as investors assessed economic data and corporate earnings. At 10:16 a.m. ET, the Dow Jones Industrial Average fell 101.48 points, or 0.24per cent, to 44,459.53, the S&P 500 lost 3.62 points, or 0.06per cent, to 6,115.09 and the Nasdaq Composite lost 17.56 points, or 0.09per cent, to 20,034.29. At…