U.S. Stocks Fail To Hold Early Gains, Close Weak Ahead Of Fed Policy

RTTNews | 939 dias atrás
U.S. Stocks Fail To Hold Early Gains, Close Weak Ahead Of Fed Policy

(RTTNews) - U.S. stocks fell into the red after a positive start on Tuesday, and then stayed weak right till the end of the day's trading session to close on a negative note.

Investors digested the latest batch of earnings updates and economic data, and looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday.

The major averages all fell after opening higher, and ended in negative territory. The Dow ended down 79.75 points or 0.24 percent at 32,653.20, more than 300 points off an early high of 32,975.48. The S&P 500, which climbed to 3911.79 in early trades, settled at 3,856.10, down 15.88 points or 0.41 percent, while the Nasdaq ended down 97.30 points or 0.89 percent at 10,890.85, after rising to a high of 11,156.35 at the start.

The Fed is widely expected to raise interest rates by another 75 basis points, but traders have recently expressed optimism the central bank will signal plans to slow the pace of rate hikes at upcoming meetings.

The optimism was partly offset by a report from the Labor Department showing a jump in U.S. job openings in the month of September.

A separate report released by the Institute for Supply Management showed a slight increase in U.S. manufacturing activity in the month of October.

The ISM said its manufacturing PMI edged down to 50.2 in October from 50.9 in September, but a reading above 50 still indicates growth in the sector. Economists had expected the index to dip to 50.0.

A report from the Commerce Department showed construction spending in the U.S. unexpectedly showed a modest increase in the month of October, inching up by 0.2 percent to an annual rate of $1.811 trillion, after falling by 0.6 percent to a revised rate of $1.807 trillion in August. Economists had expected construction spending to decrease by 0.5 percent.

Shares from transportation, retail, pharmaceutical and housing sectors mostly struggled for support.

Apple Inc (AAPL), Microsoft (MSFT), Salesforce.com (CRM), United Health (UNH) and Merck & Co (MRK) drifted down 1.4 to 2 percent.

JP Morgan (JPM) climbed nearly 2 percent. Nike (NKE), Goldman Sachs (GS) and Caterpillar (CAT) gained 1 to 1.3 percent. Boeing (BA) and Chevron (CVX) posted moderate gains.

Shares of Uber Technologies (UBER) soared 12 percent after the company raised its fourth-quarter operating profit forecast. The compay said it expects fourth-quarter adjusted EBITDA of $600 - $630 million, above analysts' expectations of a $569.39 million earnings.

In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Tuesday. Japan's Nikkei 225 Index rose by 0.3 percent, while China's Shanghai Composite Index surged by 2.6 percent.

The major European markets moved higher. The U.K.'s FTSE 100 climbed 1.29 percent, Germany's DAX gained 0.64 percent, and France's CAC 40 surged 0.98 percent.

read more
Bank Of Korea Cuts Policy Rate By 25 Bps

Bank Of Korea Cuts Policy Rate By 25 Bps

The Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point in February.
RTTNews | 22 minutos atrás
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | 27 minutos atrás
Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Sensex, Nifty Modestly Higher; IT Stocks Lead Gains

Indian shares opened on a firm note Thursday after technology giant Nvidia buoyed investors with a bullish outlook for the growth in artificial intelligence and the U.S. Court of International Trade blocked President Trump's proposed "Liberation Day" tariffs, saying he had overstepped his authority.
RTTNews | 59 minutos atrás
Australian Market Slightly Trims Early Gains In Mid-market

Australian Market Slightly Trims Early Gains In Mid-market

The Australian market is slightly trimming its early gains in mid-market moves on Thursday, reversing the slight losses in the previous session, despite the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving above the 8,400 level, with gains in energy and technology stocks partially offset by a mixed performance in mining and financial stocks.
RTTNews | 1 h 56 min atrás
Asian Markets Mostly Higher

Asian Markets Mostly Higher

Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from Wall Street overnight, after a U.S. federal court blocked US President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority. Asian markets closed mostly lower on Wednesday.
RTTNews | 2 h 17 min atrás
Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Sensex, Nifty Seen Higher As US Court Blocks Trump's Tariffs

Indian shares look set to open higher on Thursday as investors react to encouraging industrial output data, upbeat Nvidia earnings and a U.S. court ruling blocking President Trump's "Liberation Day" tariffs, citing overreach of power.
RTTNews | 2 h 52 min atrás
Japanese Market Sharply Higher

Japanese Market Sharply Higher

The Japanese market is trading sharply higher on Thursday, extending the gains in the previous four sessions, despite the broadly negative cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights, exporters and technology stocks.
RTTNews | 3 h 45 min atrás
Thai Shares May Take Further Damage On Thursday

Thai Shares May Take Further Damage On Thursday

The Thai stock market has tracked lower in two straight sessions, slipping almost 20 points or 1.5 percent along the way. The Stock Exchange of Thailand now rests just above the 1,160-point plateau and it's expected to open to the downside again on Thursday.
RTTNews | 3 h 48 min atrás