Latest news with #NYSEArcaGoldBugsIndex
Business Standard
20-05-2025
- Business
- Business Standard
Dow Rebounds to Close Higher Despite Early Losses; Moody's Downgrades U.S. Debt Rating
Stocks rose modestly after a rocky start, led by gains in gold, biotech, and healthcare sectors. Moody's downgrade spurred market volatility and a gold rally. The Dow fell more than 300 points in early trading but ended the day up 137.33 points (0.3%) at 42,792.07. The S&P 500 also inched up 5.22 points (0.1%) to 5,963.60 while the Nasdaq crept up 4.36 points or less than a tenth of a perecnt to 19,215.46. Moody's has downgraded the U.S. debt rating by a notch to Aa1 from Aaa. It also said the downgrade reflects the increase over more than a decade in government debt and interest payment ratios to levels that are significantly higher than similarly rated sovereigns. Selling pressure waned as traders seem to remain generally optimistic about the outlook for the markets. Conference Board released a report showing its reading on leading U.S. economic indicators slumped by more than expected in the month of April. The report said the leading economic index tumbled by 1% in April after sliding by a downwardly revised 0.8% in March. Gold stocks were substantially strong, as the price of the precious metal surged in reaction to Moody's downgrade of the U.S. debt rating. Reflecting the strength in the sector, the NYSE Arca Gold Bugs Index jumped by 2.2%. Biotechnology, healthcare and brokerage stocks were strong while energy stocks moved downwards despite an increase by the price of crude oil. Asia-Pacific stocks moved mostly lower. Japan's Nikkei 225 Index fell by 0.7% while South Korea's Kospi slid by 0.9%. Most European stocks moved upwards The German DAX Index climbed by 0.7% and the U.K.'s FTSE 100 Index rose by 0.2% although the French CAC 40 Index closed just below the unchanged line. In the bond market, treasuries regained ground after an early slump but remained in the red. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, rose 3.4 bps to 4.47% after reaching a high of 4.56%.
Business Standard
15-05-2025
- Business
- Business Standard
Dow Slips while NASDAQ Climbs; Traders Eye Economic Data and Powell's Speech
Stocks ended mixed as trade deal optimism clashed with economic uncertainty. Gold and pharma stocks fell while Asia rose and Europe declined. The Dow slumped 89.37 points (0.21%) to finish at 42,051.06 while the NASDAQ rallied 136.72 points (0.72%) to close at 19,146.81 and the S&P 500 rose 6.03 points (0.10%) to end at 5,892.58. Recent trade deals between the US, China and the U.K. have slightly eased worries about President Trump's trade policies. However, uncertainty still lingers over the market's future direction. Traders remain cautious, awaiting key U.S. economic data due Thursday, including retail sales and industrial output. Attention is also focused on an upcoming speech by Federal Reserve Chair Jerome Powell. Major sectors show modest moves while gold stocks moved sharply lower along with the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 2.8%. Pharmaceutical stocks were considerably weak as reflected by the 1.7% loss being posted by the NYSE Arca Pharmaceutical Index. Utilities, healthcare and oil producer stocks are also seeing notable weakness while computer hardware stocks are showing another strong move to the upside. Asia-Pacific moved mostly higher during trading on Wednesday. Hong Kong's Hang Seng Index surged by 2.3% while China's Shanghai Composite Index advanced by 0.9%. The major European markets have moved to the downside on the day. The U.K.'s FTSE 100 Index fell 0.21% while Germany's DAX Index and the French CAC 40 Index both slipped 0.47%. In the bond market, treasuries have pulled back near the unchanged line after seeing initial strength. Currently, the yield on the benchmark ten-year note which moves opposite of its price, is down by less than a basis point at 4.49%.
Business Standard
12-05-2025
- Business
- Business Standard
Wall Street Mixed Amid Trade Hopes, Corporate Earnings Swings and Global Market Moves
U.S. stocks showed mixed results as trade optimism clashed with tariff tensions; corporate earnings moved stocks sharply while gold and global markets saw notable shifts. The Nasdaq crept up 0.78 points or less than a tenth of a percent to 17,928.92, the S&P 500 edged down 4.03 points (0.1%) to 5,659.91 and the Dow dipped 119.07 points (0.3%) to 41,249.38. Wall Street rose on hopes of a U.S.-China trade deal as Treasury Secretary Bessent heads to talks, with reports suggesting tariffs may drop below 60% from 145%. However, Trumps post backing an 80% China tariff and cautious trader sentiment, despite a U.S.-U.K. deal framework, tempered optimism. Lyft (LYFT) shares skyrocketed after the ride-sharing company reported a first quarter profit compared to a year-ago loss and boosted its share buyback plan to $750 million. Trade Desk (TTD) also spiked after the digital marketing company reported better than expected first quarter results. Affirm Holdings (AFRM) plunged after the buy now, pay later company reported an unexpected fiscal third quarter profit but provided disappointing revenue guidance for the current quarter. Travel booking platform Expedia (EXPE) also moved sharply lower after reporting first quarter revenue that missed estimates and issuing soft guidance. Gold stocks strongly moved upwards with the NYSE Arca Gold Bugs Index surging by 3.3%. The strength among gold stocks came amid a sharp increase by the price of the precious metal. Networking, telecom and energy stocks also saw some strength on the day while biotechnology and pharmaceutical stocks moved to the downside. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index surged by 1.6%, while China's Shanghai Composite Index dipped by 0.3%. The major European stocks all moved upside. The U.K.'s FTSE 100 Index rose by 0.2%, the German DAX Index and the French CAC 40 Index both climbed by 0.6%. In the bond market, treasuries showed a lack of direction after moving sharply lower in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.37%.
