US stocks rose on Tuesday, driven by a tech-led rally as investors embraced AI optimism following last week’s market gloom, Reuters reported. The broader market gains found support from lower oil prices and a steady bond market, even as attention shifted toward the Federal Reserve’s upcoming policy decision. AI-Led Momentum Lifts Core Capital Goods and … Read more
Wall Street Indexes Close Lower to End Turbulent Week Wall Street’s main indexes closed lower on Friday, October 23, even as technology shares steadied somewhat to end a turbulent week for the market-driving artificial intelligence trade, Reuters reported. Investors looked ahead to a busy slate of corporate earnings and an upcoming Federal Reserve interest-rate policy … Read more
Economic Output Contracted by 1.3 Percent Due to Regional Conflict The International Monetary Fund forecast a sharp drop in economic output across the Middle East, North Africa, and Pakistan, projecting a 1.3 percent contraction for the year driven by the ongoing war against Iran, Reuters reported. Jihad Azour, director of the IMF’s Middle East and … Read more
“The safety and security of department personnel and their families remain our highest priority,” State Department spokesperson Tommy Pigott said as the U.S. government ordered diplomat families to leave Saudi Arabia amid escalating Houthi attacks. Oil prices rose on Thursday following a surge in attacks by the Iran-aligned Houthi movement in Saudi Arabia, which prompted … Read more
The tech-heavy Nasdaq Composite led Wall Street with a 1.11% advance, gaining 290.85 points to close at 26,430.89 on Oct 19, Reuters reported. The session marked a rebound for the chip sector and artificial intelligence-related stocks following last week’s bruising selloff. Semiconductor Index Snaps Longest Losing Streak Since October 2008 The Philadelphia Semiconductor Index closed … Read more
The cost to finance everything, whether it be a new single-family house or a giant data center, is going up, and that has implications for lots of stuff in the stock market, said Jed Ellerbroek, portfolio manager at Argent Capital Management in St. Louis. Wall Street indexes rebounded on Thursday as investors rotated away from … Read more
Australian Securities Exchange (ASX) Chief Executive Officer Anthony Attia intends to accelerate the transition to a one-day cash equity trading settlement cycle, aiming to align Australia with the United States and other global markets. Attia, who took the helm in September, announced plans to consult with regulators and market participants to move away from the … Read more
According to reports from reuters.com, US equities climbed on Friday, sending the Nasdaq Composite to an all-time high, as Treasury yields dropped and the likelihood of a near-term rate increase diminished following disappointing jobs data, while a decline in oil prices further bolstered the risk-on atmosphere. Nasdaq Hits Record High on Labor Department Jobs Report … Read more
U.S. nonfarm payrolls likely increased by 90,000 in September while the unemployment rate remained at 4.1% for the third consecutive month, according to a Reuters survey of economists. Reuters reported that the anticipated moderation follows an August surge of 162,000 jobs, which analysts attribute largely to government seasonal adjustment models. Economists project slower September payroll … Read more
Global bonds experienced a heavy selling round that pushed borrowing costs in the United States, France, and Britain to multi-decade highs, driven by surging energy costs, strong economic growth, and massive artificial intelligence investments that have intensified competition for capital. The U.S. 10-year Treasury yield climbed to 5.34% on Thursday, its highest level since April … Read more