Latest news with #NYSEArcaComputerHardwareIndex
Business Standard
2 days ago
- Business
- Business Standard
Wall Street Rallies as Apple Soars; Trade Desk and Sweetgreen Tumble
U.S. stocks gained despite tariff concerns, led by Apple's surge and strong banking, hardware shares; some stocks like TTD and SG plunged sharply. The Nasdaq jumped 207.32 points (1%) to 21,450.02, the S&P 500 advanced 49.45 points (0.8%) to 6,389.45 and the Dow climbed 206.97 points (0.5%) to 44,175.61. Wall Street rallied as investors brushed aside worries over the economic effects of President Donald Trumps new tariffs on multiple U.S. trading partners. Apple (AAPL) led the gains, soaring 4.2% to its highest close in five months. The surge followed Apples announcement to invest approximately 600 billion USD in the U.S. over the next four years. Legal Zooms shares skyrocketed by 31% after Bank of America upgraded its rating on the online legal technology and services company's stock to Buy from Underperform. Computer hardware stocks turned in some of the market's best performances on the day, with the NYSE Arca Computer Hardware Index climbing by 1.4%. Banking stocks emerged significantly strong, as reflected by the 1.2% gain posted by the KBW Bank Index. Oil service, brokerage and networking stocks saw notable strength while commercial real estate stocks moved to the downside. Trip Advisors (TRIP) shares too spiked by 11.7% after reporting second quarter earnings that exceeded analyst estimates. TradeDesk (TTD)s shares plummeted by 38.6% after several Wall Street firms downgraded the company's stock despite its strong second quarter earnings. Salad chain Sweetgreen (SG) plunged by 23.1% after reporting weaker than expected second quarter results and slashing its full-year revenue guidance. Asia-Pacific stocks moved mostly lower. Hong Kong's Hang Seng Index slid by 0.9% and China's Shanghai Composite Index edged down by 0.1%, although Japan's Nikkei 225 Index bucked the downtrend and surged by 1.9%. The major European markets turned in a mixed performance on the day while the French CAC 40 Index rose by 0.4%, the German DAX Index and the U.K.'s FTSE 100 Index both slipped by 0.1%. In the bond market, treasuries extended the downward move seen over the two previous sessions. As a result, the yield on the benchmark ten-year note which moves opposite of its price climbed 4.1 bps to 4.28%.
Business Standard
08-07-2025
- Business
- Business Standard
Wall Street Drops on Tariff Worries and Profit-Taking; Dow Sheds Over 400 Points
Stocks fell sharply as new tariff threats from Trump spooked investors while sector-specific weakness and global market volatility added pressure. The Dow tumbled 422.17 points (0.9%) to 44,406.36, the Nasdaq slumped 188.59 points (0.9%) to 20,412.52 and the S&P 500 slid 49.37 points (0.8%) to 6,229.98. Wall Street's early weakness reflects profit-taking after recent gains, with stocks previously rallying on strong jobs data. Investor concerns grew after Trump posted letters about new tariffs, sparking fresh selling pressure. Imports from several countries now face steep duties, escalating trade tensions globally. Analysts warn that Trump's shifting policies and threats of higher tariffs are unsettling markets. Computer hardware stocks moved substantially downwards , with the NYSE Arca Computer Hardware Index plunging by 2.2% after ending the previous session at its best closing level in over four months. Oil service stocks were significantly weak , as reflected by the 2.0% slump by the Philadelphia Oil Service Index. Airline, semiconductor and steel stocks too were considerably weak while gold stocks bucked the downtrend amid a slight increase by the price of the precious metal. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index slid by 0.6% while South Korea's Kospi inched up by 0.2%. The major European markets also ended the day mixed while the U.K.'s FTSE 100 Index dipped by 0.2%, the French CAC 40 Index climbed by 0.4% and the German DAX Index jumped by 1.2%. In the bond market, treasuries extended the downward trend seen over the past several sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, rose 4.7 basis points to 4.39%.
Al Etihad
05-03-2025
- Business
- Al Etihad
US stocks move sharply lower on tariff concerns
4 Mar 2025 01:59 WASHINGTON (dpa-AFX)After showing a lack of direction early in the session, stocks moved sharply lower over the course of the trading day on Monday. The major averages all showed significant moves to the downside, with the tech-heavy Nasdaq plunging to a four-month closing major averages climbed off their worst levels going into the close but remained firmly negative. The Nasdaq dove 497.09 points or 2.6% to 18,350.19, the S&P 500 tumbled 104.78 points or 1.8% to 5,849.72, and the Dow slumped 649.67 points or 1.5% to 43,191.24. The substantial weakness that emerged on Wall Street came amid concerns about the economic impact of President Donald Trump's proposed an appearance on Fox News over the weekend, Commerce Secretary Howard Lutnick described the proposed 25% tariffs on imports from Mexico and Canada as "fluid" but said the additional 10% tariff on imports from China is "set."Trump later clarified that the 25% tariffs on imports from Mexico and Canada will take effect tomorrow and reciprocal tariffs on other U.S. trade partners will be imposed on April the US economic front, the Institute for Supply Management released a report showing its reading on US manufacturing activity edged slightly lower in February but still indicated growth in the sector for the second straight ISM said its manufacturing PMI slipped to 50.3 in February after rising to 50.9 in January, although a reading above 50 still indicates growth. Economists had expected the index to dip to report also said the prices index surged to 62.4 in February from 54.9 in January, reflecting the largest month-over-month increase since January 2024."Prices growth accelerated due to tariffs, causing new order placement backlogs, supplier delivery stoppages and manufacturing inventory impacts," said Timothy R Fiore, chair of the ISM Manufacturing Business Survey Committee. He added, "Although tariffs do not go into force until mid-March, spot commodity prices have already risen about 20%."A separate report released by the Commerce Department showed construction spending in the US unexpectedly edged modestly lower in the month of January. Sector News Computer hardware stocks extended the sharp pullback seen over the past couple weeks, dragging the NYSE Arca Computer Hardware Index down by 4.2% to its lowest closing level in a month.A steep drop by the crude oil also weighed on oil producer stocks, as reflected by the 4.1% nosedive by the NYSE Arca Oil Index. The index ended the session at a two-month closing stocks also moved sharply lower over the course of the session, resulting in a 4% slump by the Philadelphia Semiconductor Index. Networking, airline, and retail stocks also saw considerable weakness on the day, moving lower along with most of the other major sectors. Other Markets In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Monday. Japan's Nikkei 225 Index shot up by 1.7%, while Hong Kong's Hang Seng Index rose by 0.3%.The major European markets also showed strong moves to the upside on the day. While the German DAX Index surged by 2.6%, the French CAC 40 Index jumped by 1.1%, and the UK's FTSE 100 Index climbed by 0.7%. In the bond market, treasuries moved higher, extending a recent upward trend. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 5.1 basis points to a nearly three-month closing low of 4.180%. Looking Ahead Amid a lack of major US economic data, trading on Tuesday is likely to be driven by reaction to the latest news about Trump's tariffs on Mexico and Canada. Stock Markets Continue full coverage
