Stock market today: Live updates

Stock market today: Live updates
Stock market today: Live updates
--

45 Mins Ago

Gold prices soar to record high on hopes of Fed cut

Gold prices extended their rally on Monday, scaling to a new record.

The optimism was helped by US interest rate cut expectations and bullion’s appeal as a safe haven asset.

Spot gold added 1.32% to trade at $2,265.53 per ounce. US gold futures rose more than 2% to trade at $2,286.39 per ounce.

“I think it’s a really exciting moment in gold,” said World Gold Council’s (WGC) Market Strategist Joseph Cavatoni. “What’s really driving it is, I think, many market speculators really getting that confidence and comfort [in] the Fed cuts,” he said.

Gold prices tend to share an inverse relationship with interest rates.

—Lee Ying Shan

2 Hours Ago

Japan’s Nikkei 225 briefs below 40,000

The logo of the Tokyo Stock Exchange (TSE), operated by Japan Exchange Group Inc. (JPX), is displayed at the bourse in Tokyo, Japan, on Friday, Oct. 2, 2020.

Akio Kon | Bloomberg via Getty Images

Japan’s Nikkei 225 index fell 1.5% to last trade at 39,762.85, falling below the 40,000 mark for the first time in 12 days.

The index had rallied to 40,000 in early March and has hit multiple record highs since. It had even crossed 41,000 to hit an all-time high of 41,087.75 on March 22.

This comes after the Bank of Japan ended its negative interest rates regime in mid-March, along with other unconventional easing tools aimed at reflating Japan’s economy.

The Japanese yen traded at 151.29 to the US dollar after hitting a 34-year low of 151.97 last week.

— Shreyashi Sanyal

4 Hours Ago

South Korea’s factory activity slips into contraction in March

South Korea’s factory activity slipped into contraction territory in March, following two straight months of expansion.

The country’s purchasing manager’s index came in at 49.8, down from 50.7 in February.

S&P Global wrote in its report that panel members largely attributed this to subdued demand and downgraded investment plans.

It also added that “a number of firms mentioned that sales remained muted amid weakness in the domestic economy in particular.”

— Lim Hui Jie

4 Hours Ago

Business sentiment among large Japan manufacturers falls slightly

Business optimism among large Japanese manufacturers fell in the first quarter, according to the Bank of Japan’s Tankan survey, with the gauge at +11 compared with +12 in the last survey.

Economists polled by Reuters expected a +10 reading for large manufacturers.

However, optimism among non-manufacturers rose to its highest level since August 1991, with the Tankan gauge at +34 compared with +30 in the fourth quarter and beating Reuters expectations of +33.

The Tankan survey is also monitored by the BOJ when formulating monetary policy.

— Lim Hui Jie

5 Hours Ago

China’s factory activity expands in March, surprising expectations

China’s factory activity expanded in March, snapping a five-month streak in contraction territory and surprising expectations.

The country’s manufacturing purchasing manager’s index came in at 50.8, according to official data.

This compares with the 49.1 seen in February and the 49.9 expected by the Reuters poll, which represents a contractionary figure.

Separately, non-manufacturing PMI rose to 53.0, up from the 51.4 seen in January.

— Lim Hui Jie

6 Hours Ago

Where the major averages stand as the second quarter begins

Wall Street is coming off another winning quarter and month as excitement around artificial intelligence shows no signs of dwindling and investors ready for the start of a Federal Reserve cutting cycle later this year.

Take a look at where the major averages stand as the second quarter kicks off.

Dow Jones Industrial Average:

  • Rose 2.1% in March for its fifth straight winning month for the first time since August 2020
  • Gained 5.6% in the first quarter

S&P 500:

  • Added 3.1% in March
  • Jumped 10.2% in the quarter for its best quarterly performance since 2019

Nasdaq Composite:

  • Edged up 1.8% in March
  • Rallyed 9.1% in the first quarter

—Samantha Subin, Chris Hayes

7 Hours Ago

Stock futures open higher on Sunday evening

The article is in Dutch

Tags: Stock market today Live updates

-

PREV Dead and hundreds injured in Taiwan after strongest earthquake in 25 years | Abroad
NEXT ‘After the death of the NGO workers you see that Israel is increasingly alone’