Nasdaq Composite rises 25 points in lackluster day for U.S. markets
NEW YORK, New York - U.S. stocks made only minor moves in both directions,Thursday, as investors fretted about the Israel-Iran conflict and speculation the U,S. may once more be going to war in the Middle East.
The U.S. dollar gained ground as European shares fell sharply after a sell-off in travel-related stocks. Skies over Europe were less crowded Thursday as flights were cancelled. United Airlines announced it would stop flying to Dubai.
Meantime the Bank of England left interest rates unchanged at 4.25 percent on Thursday. "Underlying UK GDP growth appears to have remained weak, and the labour market has continued to loosen, leading to clearer signs that a margin of slack has opened up over time," the central bank said in a statement Thurrsday.
"Measures of pay growth have continued to moderate and, as in May, the Committee expects a significant slowing over the rest of the year," the bank said.
In the U.S., President Donald Trump slammed Federal Reserve Chair Jerome Powell for not cutting rates a day earlier, a decision made by the Fed's FOMC committee. Nonetheless the president , who believes rates should be 2.5 percent lower, referred to Mr Powell, as "not a smart person," and "a real dummy," in a midnight post on Truth Social.
U.S. Markets Show Resilience Thursday
The Standard and Poor's 500 (^GSPC) edged slightly lower, closing at 5,980.87, down 1.85 points or 0.03 percent, as trading volume reached 2.942 billion shares.
The Dow Jones Industrial Average (^DJI) dipped 44.14 points, or 0.10 percent, settling at 42,171.66, with 487.536 million shares traded.
Meanwhile, the NASDAQ Composite (^IXIC) bucked the trend, rising 25.18 points, or 0.13 percent, to 19,546.27, on a heavy volume of 7.151 billion shares.
U.S. Dollar Split, Major Currencies as Euro and Pound Gain Ground
Thursday's foreign exchange market saw the U.S. dollar firming against several major currencies, while the euro and British pound posted modest gains.
Euro and Pound Edge Higher
The euro (EUR/USD) rose 0.12 percent against the US dollar, trading at 1.1492, as investors weighed recent economic data from the Eurozone. Meanwhile, the British pound (GBP/USD) climbed 0.35 percent to 1.3464, supported by expectations of a more hawkish Bank of England stance, after the central bank left interest rates unchanged at 4.25 percent at its monthly meeting on Thursday.
The U.S. dollar (USD/JPY) strengthened 0.26 percent against the Japanese yen, reaching 145.47, as traders anticipated further divergence between Federal Reserve and Bank of Japan policies. The greenback also advanced 0.08 percent against the Canadian dollar (USD/CAD), settling at 1.37042, amid stregthening oil prices.
The U.S. dollar (USD/CHF) dipped 0.12 percent against the Swiss franc, trading at 0.8164, as the safe-haven currency found some support. However, the Australian dollar (AUD/USD) fell sharply by 0.51 percent to 0.6474, pressured by weaker commodity demand. The New Zealand dollar (NZD/USD) also declined 0.66 percent to 0.5987, reflecting broader risk-off sentiment.
Global Markets Close Mixed on Thursday as European and Asian Indices Lag
Thursday's trading session saw a mixed performance across global stock markets, with UK, European and Asian markets closing with significant losses.
Canadian Markets
Canada's S&P/TSX Composite (^GSPTSE) dipped 53.85 points, or 0.20 percent, to 26,506.00, with 86.945 million shares traded.
UK and European Markets Slide
Indices struggled, with the FTSE 100 (^FTSE) dropping 51.67 points, or 0.58 percent, to 8,791.80.
Germany's DAX (^GDAXI) tumbled 260.43 points, or 1.12 percent, to 23,057.38, while in France Thursday, the CAC 40 (^FCHI) fell 102.67 points, or 1.34 percent, to 7,553.45.
The broader EURO STOXX 50 (^STOXX50E) declined 69.88 points, or 1.33 percent, closing at 5,197.03. Belgium's BEL 20 (^BFX) saw a modest drop of 14.28 points, or 0.32 percent, ending at 4,411.71.
Asian and Pacific Markets Under Pressure
Asian markets faced broad declines, with Hong Kong's Hang Seng Index (^HSI) plunging 472.95 points, or 1.99 percent, to 23,237.74.
In China, the Shanghai Composite (000001.SS) dropped 26.70 points, or 0.79 percent, to 3,362.11, with 2.878 billion shares traded. Japan's Nikkei 225 (^N225) declined 396.81 points, or 1.02 percent, to 38,488.34.
In Singapore the STI Index (^STI) slipped 26.63 points, or 0.68 percent, to 3,894.18, while Australia's S&P/ASX 200 (^AXJO) dipped 7.50 points, or 0.09 percent, to 8,523.70.
The broader Australian All Ordinaries (^AORD) fell 16.50 points, or 0.19 percent, to 8,741.40.
India's S&P BSE SENSEX (^BSESN) retreated 82.79 points, or 0.10 percent, to 81,361.87, while in Indonesia, the IDX Composite (^JKSE) dropped sharply by 139.15 points, or 1.96 percent, to 6,968.64.
Malaysia's KLSE (^KLSE) lost 10.51 points, or 0.70 percent, closing at 1,501.44.
New Zealand's S&P/NZX 50 (^NZ50) declined 58.27 points, or 0.46 percent, to 12,569.05, while South Korea's KOSPI (^KS11) managed a slight gain of 5.55 points, or 0.19 percent, ending at 2,977.74. Taiwan's TWSE (^TWII) fell sharply by 353.23 points, or 1.58 percent, to 22,003.50.
Middle East and Africa
Egypt's EGX 30 (^CASE30) suffered a steep decline, losing 590.60 points, or 1.92 percent, to 30,248.40, with 169.507 million shares changing hands.
Israel's TA-125 (^TA125.TA)was a standout, rising 28.40 points, or 1.00 percent, to 2,868.81.
South Africa's JSE Top 40 (^JN0U.JO) fell 52.25 points, or 1.00 percent, to 5,178.99.
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Nasdaq Composite rises 25 points in lackluster day for U.S. markets
NEW YORK, New York - U.S. stocks made only minor moves in both directions,Thursday, as investors fretted about the Israel-Iran conflict and speculation the U,S. may once more be going to war in the Middle East. The U.S. dollar gained ground as European shares fell sharply after a sell-off in travel-related stocks. Skies over Europe were less crowded Thursday as flights were cancelled. United Airlines announced it would stop flying to Dubai. Meantime the Bank of England left interest rates unchanged at 4.25 percent on Thursday. "Underlying UK GDP growth appears to have remained weak, and the labour market has continued to loosen, leading to clearer signs that a margin of slack has opened up over time," the central bank said in a statement Thurrsday. "Measures of pay growth have continued to moderate and, as in May, the Committee expects a significant slowing over the rest of the year," the bank said. In the U.S., President Donald Trump slammed Federal Reserve Chair Jerome Powell for not cutting rates a day earlier, a decision made by the Fed's FOMC committee. Nonetheless the president , who believes rates should be 2.5 percent lower, referred to Mr Powell, as "not a smart person," and "a real dummy," in a midnight post on Truth Social. U.S. Markets Show Resilience Thursday The Standard and Poor's 500 (^GSPC) edged slightly lower, closing at 5,980.87, down 1.85 points or 0.03 percent, as trading volume reached 2.942 billion shares. The Dow Jones Industrial Average (^DJI) dipped 44.14 points, or 0.10 percent, settling at 42,171.66, with 487.536 million shares traded. Meanwhile, the NASDAQ Composite (^IXIC) bucked the trend, rising 25.18 points, or 0.13 percent, to 19,546.27, on a heavy volume of 7.151 billion shares. U.S. Dollar Split, Major Currencies as Euro and Pound Gain Ground Thursday's foreign exchange market saw the U.S. dollar firming against several major currencies, while the euro and British pound posted modest gains. Euro and Pound Edge Higher The euro (EUR/USD) rose 0.12 percent against the US dollar, trading at 1.1492, as investors weighed recent economic data from the Eurozone. Meanwhile, the British pound (GBP/USD) climbed 0.35 percent to 1.3464, supported by expectations of a more hawkish Bank of England stance, after the central bank left interest rates unchanged at 4.25 percent at its monthly meeting on Thursday. The U.S. dollar (USD/JPY) strengthened 0.26 percent against the Japanese yen, reaching 145.47, as traders anticipated further divergence between Federal Reserve and Bank of Japan policies. The greenback also advanced 0.08 percent against the Canadian dollar (USD/CAD), settling at 1.37042, amid stregthening oil prices. The U.S. dollar (USD/CHF) dipped 0.12 percent against the Swiss franc, trading at 0.8164, as the safe-haven currency found some support. However, the Australian dollar (AUD/USD) fell sharply by 0.51 percent to 0.6474, pressured by weaker commodity demand. The New Zealand dollar (NZD/USD) also declined 0.66 percent to 0.5987, reflecting broader risk-off sentiment. Global Markets Close Mixed on Thursday as European and Asian Indices Lag Thursday's trading session saw a mixed performance across global stock markets, with UK, European and Asian markets closing with significant losses. Canadian Markets Canada's S&P/TSX Composite (^GSPTSE) dipped 53.85 points, or 0.20 percent, to 26,506.00, with 86.945 million shares traded. UK and European Markets Slide Indices struggled, with the FTSE 100 (^FTSE) dropping 51.67 points, or 0.58 percent, to 8,791.80. Germany's DAX (^GDAXI) tumbled 260.43 points, or 1.12 percent, to 23,057.38, while in France Thursday, the CAC 40 (^FCHI) fell 102.67 points, or 1.34 percent, to 7,553.45. The broader EURO STOXX 50 (^STOXX50E) declined 69.88 points, or 1.33 percent, closing at 5,197.03. Belgium's BEL 20 (^BFX) saw a modest drop of 14.28 points, or 0.32 percent, ending at 4,411.71. Asian and Pacific Markets Under Pressure Asian markets faced broad declines, with Hong Kong's Hang Seng Index (^HSI) plunging 472.95 points, or 1.99 percent, to 23,237.74. In China, the Shanghai Composite ( dropped 26.70 points, or 0.79 percent, to 3,362.11, with 2.878 billion shares traded. Japan's Nikkei 225 (^N225) declined 396.81 points, or 1.02 percent, to 38,488.34. In Singapore the STI Index (^STI) slipped 26.63 points, or 0.68 percent, to 3,894.18, while Australia's S&P/ASX 200 (^AXJO) dipped 7.50 points, or 0.09 percent, to 8,523.70. The broader Australian All Ordinaries (^AORD) fell 16.50 points, or 0.19 percent, to 8,741.40. India's S&P BSE SENSEX (^BSESN) retreated 82.79 points, or 0.10 percent, to 81,361.87, while in Indonesia, the IDX Composite (^JKSE) dropped sharply by 139.15 points, or 1.96 percent, to 6,968.64. Malaysia's KLSE (^KLSE) lost 10.51 points, or 0.70 percent, closing at 1,501.44. New Zealand's S&P/NZX 50 (^NZ50) declined 58.27 points, or 0.46 percent, to 12,569.05, while South Korea's KOSPI (^KS11) managed a slight gain of 5.55 points, or 0.19 percent, ending at 2,977.74. Taiwan's TWSE (^TWII) fell sharply by 353.23 points, or 1.58 percent, to 22,003.50. Middle East and Africa Egypt's EGX 30 (^CASE30) suffered a steep decline, losing 590.60 points, or 1.92 percent, to 30,248.40, with 169.507 million shares changing hands. Israel's TA-125 (^ a standout, rising 28.40 points, or 1.00 percent, to 2,868.81. South Africa's JSE Top 40 (^ fell 52.25 points, or 1.00 percent, to 5,178.99.
