Latest news with #NYSEArcaGoldBugsIndex
Business Standard
31-07-2025
- Business
- Business Standard
Markets Mixed as Fed Holds Rates; Tech Resilient, Transports and Gold Stocks Tumble
U.S. stocks ended mixed amid Fed's rate pause, strong GDP and jobs data; tech outperformed while transportation and gold sectors saw sharp declines. The tech-heavy Nasdaq rose 31.38 points (0.2%) to 21,129.67, the S&P 500 edged down 7.96 points (0.1%) to 6,362.90 and the Dow fell 171.71 points (0.4%) to 44,461.28. The major averages ended mixed after the Federal Reserve, in a divided vote, opted to keep interest rates steady at 4.25% to 4.50%. While the Fed cited its commitment to full employment and 2% inflation, Governors Bowman and Waller favored a rate cut. Fed Chair Jerome Powell emphasized that no decision has been made regarding a rate cut in September, stating it will depend on upcoming data. Payroll processor ADP released a report showing private sector employment in the U.S. increased by more than expected in the month of July. The report said private sector employment jumped by 104,000 jobs in July after slipping by a revised 23,000 jobs in June. The Commerce Department too released a report showing the U.S. economy rebounded by more than expected in the second quarter of 2025. The report said real GDP surged by 3% in the second quarter after falling by 0.5% in the first quarter. The rebound by real GDP in the second quarter primarily reflected a decrease in imports, which are a subtraction in the calculation of GDP and an increase in consumer spending, the Commerce Department said. Most of the major sectors showed only modest moves, contributing to the lackluster performance by the broader markets. Transportation stocks substantial moved downwards, with the Dow Jones Transportation Average tumbling by 3%. Gold stocks was also significant weak , as reflected by the 2.9% slump by the NYSE Arca Gold Bugs Index. Energy and commercial real estate stocks too saw notable weakness on the day while semiconductor and brokerage stocks moved to the upside. Asia-Pacific stocks turned in another mixed performance. Japan's Nikkei 225 Index edged down by 0.1% and Hong Kong's Hang Seng Index slumped by 1.4% while China's Shanghai Composite Index crept up by 0.2%. major European markets all moved modestly higher on the day while the German DAX Index rose by 0.2%, the French CAC 40 Index inched up by 0.1% and the U.K.'s FTSE 100 Index closed just above the unchanged line. In the bond market, treasuries gave back ground after moving notably higher in the previous session. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, climbed 4.6 bps to 4.37%.
Business Standard
23-07-2025
- Business
- Business Standard
Nasdaq Dips as GM and Lockheed Slide; Housing and Gold Stocks Rally Strongly
Despite subdued overall trading, housing and gold sectors surged, offsetting tech losses. GM and Lockheed declines weighed on broader sentiment. The tech-heavy Nasdaq fell 81.49 points (0.4%) to 20,892.69, the S&P 500 inched up 4.02 points (0.1%) to 6,309.62 and the Dow climbed 179.37 points (0.4%) to 44,502.44. General Motors (GM) plunged by 8.1% after the automaker reported second quarter earnings that exceeded analyst estimates but were down sharply year-over-year. Lockheed Martin (LMT) also tumbled by 10.8% after reporting weaker than expected second quarter revenues. Overall trading activity was somewhat subdued, however, with a lack of major U.S. economic data keeping some traders on the sidelines. Housing stocks substantially moved upside, driving the Philadelphia Housing Sector Index up by 6.7% to its best closing level in over five months. D.R. Horton (DHI) helped lead the sector higher, soaring by 17% after reporting better than expected fiscal third quarter results. Gold stocks were significantly strong , as reflected by the 3.1% jump by the NYSE Arca Gold Bugs Index. With the gain, the index reached its best closing level in over twelve years. Oil service, biotechnology and steel stocks also saw considerable strength while semiconductor, networking and computer hardware stocks moved downwards. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index slipped by 0.1%, while China's Shanghai Composite Index climbed by 0.6%. Meanwhile, European stocks moved mostly lower on the day. The German DAX Index slumped by 1.1% and the French CAC 40 Index slid by 0.7%, although the U.K.'s FTSE 100 Index bucked the downtrend and inched up by 0.1%. In the bond market, treasuries saw further upside following the notable advance seen in the previous session. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, fell 3.6 bps to 4.33%.
Business Standard
22-07-2025
- Business
- Business Standard
Wall Street Mixed Amid Trade Hopes, Earnings Watch, and Sector Swings
Markets rose early on trade optimism but faded with earnings anticipation; gold and steel stocks surged while treasuries rallied on economic data. The Nasdaq rose 78.52 points (0.4%) to 20,974.17 and the S&P 500 inched up 8.81 points (0.1%) to 6,305.60, although the narrower Dow edged down 19.12 points or less than a tenth of a percent to 44,323.07. Wall Street rose on trade deal hopes as Lutnick expressed confidence in a US - EU agreement. He set August 1st as the tariff deadline. Gains faded later as traders awaited earnings from Alphabet, Tesla and Intel. Conference Board released a report showed its reading on leading U.S. economic indicators fell by slightly more than expected in the month of June. Its leading economic index declined by 0.3% in June following a revised unchanged reading in May. Despite the pullback by the broad markets, gold stocks substantially moved to the upside , resulting in a 3.8% spike by the NYSE Arca Gold Bugs Index. The rally by gold stocks comes amid a sharp increase by the price of the precious metal. Steel stocks were significantly strong s, as reflected by the 2.5% surge by the NYSE Arca Steel Index. Telecom and retail stocks too saw some strength while natural gas and biotechnology stocks notably moved downside. Asia-Pacific stocks turned in a mixed performance, with Japanese markets closed for a holiday. China's Shanghai Composite Index climbed by 0.7%, while Australia's S&P/ASX 200 Index slumped by 1%. The major European markets also ended the day mixed while the French CAC 40 Index fell by 0.3%, the German DAX Index inched up by 0.1% and the U.K.'s FTSE 100 Index rose by 0.2%. In the bond market, treasuries moved notably higher early in the session and remained firmly positive throughout the day. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, slid 6.0 basis points to 4.37%.
Business Standard
10-07-2025
- Business
- Business Standard
Nasdaq Hits Record High as Nvidia Surges, Wall Street Rallies on Trade Hopes and Fed Optimism
Markets rise with Nasdaq topping 20,600, fueled by Nvidia's $4T milestone, U.S.-EU trade optimism and Fed's patient stance on rate changes. Treasuries rebound. The tech-heavy Nasdaq jumped 192.87 points or 0.9% to a new record closing high of 20,611.34, the S&P 500 climbed 37.74 points or 0.6% to 6,263.26 and the Dow rose 217.54 points or 0.5% to 44,458.30. Wall Street gained on hopes of a US - EU trade deal with higher tariffs than the UK's. Trump posted letters to world leaders on new tariff plans. Fed minutes showed most officials favor waiting for more inflation clarity. Growth and jobs remain strong. Nvidia (NVDA) helped lead the markets higher, with the AI darling jumping by 1.8% and briefly becoming the first company to reach a market capitalization of $4 trillion. Housing stocks turned in some of the market's best performances, with the Philadelphia Housing Sector Index surging by 2.9% to its best closing level in over four months. Gold stocks were significantly strong, as reflected by the 1.9% gain posted by the NYSE Arca Gold Bugs Index. Biotechnology and utilities stocks also saw notable strength while oil service stocks gave back ground after Tuesday's surge, dragging the Philadelphia Oil Service Index down by 1.1%. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index rose by 0.3%, while China's Shanghai Composite Index edged down by 0.1% and Hong Kong's Hang Seng Index slumped by 1.1%. The major European markets all moved upwards while the U.K.'s FTSE 100 Index crept up by 0.2%, the German DAX Index and the French CAC 40 Index both jumped by 1.4%. In the bond market, treasuries saw a notable rebound after trending lower over the past several sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, slumped 7.3 bps to 4.34%.
Business Standard
01-07-2025
- Business
- Business Standard
Wall Street Climbs on Trade Hopes; Gold, Tech Stocks Lead Gains
Markets rise as Canada drops digital tax, boosting U.S. ties. Gold, tech and brokerage stocks rally, while oil services dip. Bond yields fall. The Dow advanced 275.50 points (0.6%) to 44,094.77, the Nasdaq climbed 96.27 points (0.5%) to 20,369.73 and the S&P 500 rose 31.88 points (0.5%) to 6,204.95. Wall Street rose on trade optimism and Canada dropping its digital tax on U.S. tech firms. The move aims to boost U.S.-Canada ties. The Senate began debating Trumps tax bill. Meanwhile, Trump slammed the Fed, urging lower interest rates. Gold stocks strongly moved upward amid a notable increase by the price of the precious metal, driving the NYSE Arca Gold Bugs Index up by 2.8%. Brokerage stocks emerged significantly strong, as reflected by the 2.0% jump by the NYSE Arca Broker/Dealer Index. Computer hardware, software and networking stocks also turned in strong performances, while oil service stocks moved to the downside along with the price of crude oil. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index advanced by 0.8%, while China's Shanghai Composite Index climbed by 0.6%. The major European markets have moved to the downside on the day. While the German DAX Index slid by 0.5%, the U.K.'s FTSE 100 Index fell by 0.4% and the French CAC 40 Index dipped by 0.3%. In the bond market, treasuries saw a notable rebound following the pullback seen last Friday. As a result, the yield on the benchmark ten-year note which moves opposite of its price, slid 5.3 bps to a two-month closing low of 4.23%.
