53 minutes ago
European stocks open lower
European stocks opened slightly higher on Wednesday, with the benchmark Stoxx 600 index losing 0.2% at 8:15 a.m. London time.
Britain's FTSE 100 rose 0.5% after ending a five-day winning streak on Thursday, while France's CAC 40 fell 0.2% and Germany's DAX fell 0.5%.
2 hours ago
Nikkei 225 falls 2%, leading to declines in Asian stocks
Japan's Nikkei 225 index fell 2.1% in afternoon trading, while the broader Topix index fell 1.64%.
The benchmark Nikkei 225 has fallen 8.3% since its record high in late March.
Investors await the Bank of Japan's monetary policy decision on Friday. The inflation outlook is being closely watched amid a weakening yen, higher oil prices and strong wage growth.
The yen slipped above 155 against the US dollar on Thursday, hitting a new 34-year low.
—Shreyashi Sanyal
7 hours ago
SK Hynix posts first operating profit in four quarters, shares fall nearly 3%
Shares of South Korean chipmaker SK Hynix fell nearly 3% even as the company posted its highest operating profit in nearly two years.
The chipmaker posted operating profit of 2.89 trillion South Korean won ($2.1 billion) in the first quarter of 2024, up 734% year-on-year, with net profit at 1.92 trillion won.
Fourth-quarter revenue was 12.43 trillion won, an all-time quarterly record.
SK Hynix explained that this was due to an increase in sales of AI server products, “supported by its leadership in AI storage technology.”
The company also added that it “believes it has entered the phase of significant recovery following a prolonged downturn.”
—Lim Hui Jie
8 hours ago
South Korea's GDP rises 3.4% in the first quarter, the fastest quarterly growth since the fourth quarter of 2021
South Korea posted first-quarter GDP growth of 3.4%, beating the 2.4% expected by Reuters polls and marking its highest quarterly growth since the fourth quarter of 2021.
GDP rose 1.3% quarter-on-quarter, also exceeding Reuters expectations of 0.6%.
Exports from South Korea rose 0.9% in the first quarter as exports of IT items such as mobile phones increased. Imports fell 0.7%, reflecting lower imports of electronic equipment.
—Lim Hui Jie
9 hours ago
iCapital's Anastasia Amoroso expects the S&P 500 to end at 5,500 this year
iCapital's chief investment strategist Anastasia Amoroso believes there is a good chance the S&P 500 could rise to 5,500 by the end of the year.
The broader market index closed at 5,071.63 on Wednesday afternoon. This target would represent an 8% increase in the benchmark.
“I think investors get another entry point here that's quite attractive,” she said on CNBC's “Closing Bell” Wednesday afternoon. Amoroso particularly highlighted semiconductor stocks as having the potential to outperform in the future.
The strategist cited strong corporate profits and consumer spending as well as a pick-up in global manufacturing momentum as catalysts for an encouraging equity environment.
—Lisa Kailai Han
9 hours ago
Stocks Making Biggest Moves After IPO: Meta, IBM, and More
These are the stocks that move the most during extended trading hours:
—Lisa Kailai Han
10 hours ago
Comments are closed.