Dow, Nasdaq Close Higher As Stocks Move Up In Final Hour

RTTNews | 847 dias atrás

(RTTNews) - U.S. stocks closed modestly higher on Monday thanks to some hectic buying at several counters in the final hour of the day's session amid hopes major banks and top ranking companies will come out with fairly encouraging earnings updates this week.

Stocks were largely subdued for most part of the session till the final hour amid concerns about economic slowdown and uncertainty about the outlook for interest rates.

The major averages all ended in positive territory after spending much of the day's session in the red.

The Dow ended up by 100.71 points or 0.3 percent at 33,987.18. The S&P 500 climbed 13.68 points or 0.33 percent to 4,151.32, while the Nasdaq ended higher by 34.26 points or 0.28 percent at 12,157.72.

Concerns about a potential recession later this year, and uncertainty about interest rates weighed on sentiment.

The President and CEO of the Federal Reserve Bank of Richmond Thomas Barkin said today that he wants to see more evidence of inflation settling back to target.

Barkin also said that he feels reassured by what he is seeing in the banking sector.

In economic news, a report from the National Association of Home Builders said the NAHB/Wells Fargo Housing Market index in the US increased to 45 in April of 2023, rising for a fourth month in a row. This is a fresh high since September of 2022.

Goldman Sachs, Bank of America, Morgan Stanley are scheduled to announce their quarterly earnings during the course of this week.

Results are also due from Netflix, J&J and Tesla this week.

Shares of Charles Schwab Corporation surged about 4 percent after the company reported stronger than expected first-quarter earnings.

Prometheus Biosciences soared 70 percent after Merck announced that it would acquire the biosciences company for approximately $10.8 billion.

Alphabet shares ended 2.6% down on reports Samsung is considering replacing Google with Microsoft's Bing as the default search engine on its devices.

Travelers Companies, Boeing, Walgreens Boots Alliance, Salesforce.com, Home Depot, 3M and Intel ended notably higher.

Amgen, Chevron, IBM, Cisco Systems and Merck ended with moderate losses.

In overseas trading, Asian markets ended mostly higher amid optimism about Chinese economic growth. European stocks failed to hold early gains and ended mixed as traders looked for direction.

Taiwan Shares May Run Out Of Steam On Tuesday

The Taiwan stock market has moved higher in three straight sessions, rallying more than 685 points or 2.9 percent along the way. The Taiwan Stock Exchange now sits just above the 24,135-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 23 minutos atrás

Singapore Q2 GDP Climbs 4.4% On Year

Singapore's gross domestic product expanded 4.4 percent on year in the second quarter of 2025, the Ministry of Trade and Industry said on Tuesday - beating forecasts for 4.3 percent, which would have been unchanged.

RTTNews | 30 minutos atrás

Singapore Bourse May Give Up Support At 4,200 Points

The Singapore stock market has finished lower in two straight sessions, slipping more than 25 points or 0.6 percent along the way. The Straits Times Index now sits just above the 4,230-point plateau and it may extend its losses on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 53 minutos atrás

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in five straight sessions, collecting more than 35 points or 2.4 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,560-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 1h 23min atrás

Win Streak May End For Japan Stock Market

Ahead of Monday's holiday for Mountain Day, the Japan stock market had moved higher in four consecutive sessions, advancing more than 1,580 points or 3.8 percent along the way. The Nikkei 225 now sits just above the 41,820-point plateau although investors are likely to lock in gains on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red. The Nikkei finished sharply higher on Friday with gains cross the board, especially among the finance, automobile and technology sectors. For the day, the index surged 761.38 points or 1.85 percent to finish at 41,820.48 after trading between 41,248.05 and 42,033.92. Among the actives, Nissan Motor accelerated 2.75 percent, while Mazda Motor spiked 4.91 percent, Toyota Motor jumped 3.47 percent, Honda Motor rallied 3.95 percent, Softbank Group skyrocketed 10.39 percent, Mitsubishi UFJ Financial collected 0.64 percent, Mizuho Financial advanced 1.02 percent, Sumitomo Mitsui Financial added 0.71 percent, Mitsubishi Electric fell 0.28 percent, Sony Group soared 3.50 percent, Panasonic Holdings climbed 1.16 percent and Hitachi rose 0.50 percent. The lead from Wall Street is negative as the major averages opened mixed on Monday, rallied midday but then slumped in the afternoon and finished under water.

RTTNews | 1h 38min atrás

Continued Consolidation Called For South Korea Shares

The South Korea stock market has finished lower in back-to-back sessions, sinking more than 20 points or 0.6 percent along the way. The KOSPI now sits just above the 3,200-point plateau and it may take further damage again on Tuesday. The global forecast for the Asian markets is soft ahead of key U.S. inflation data. The European markets were mixed and the U.S. bourses were down and the Asian markets also figure to track into the red.

RTTNews | 1h 53min atrás

Australia Interest Rate Decision On Tap For Tuesday

The Reserve Bank of Australia will wrap up its monetary policy meeting this morning and then announce its decision on interest rates, highlighting a light day for Asia-Pacific economic activity. The RBA is expected lower its benchmark lending rate by 25 basis points, to 3.60 percent from 3.85 percent.

RTTNews | 2h 53min atrás

U.S. Dollar Firms Against Majors

The U.S. dollar strengthened against its major counterparts in the New York session on Monday.

RTTNews | 4h 15min atrás

EURUSD	1.16167	GBPUSD	1.34321	AUDUSD	0.65198
USDJPY	148.371	USDCAD	1.37778	USDCHF	0.81185