Latest news with #PHLX
Business Recorder
08-05-2025
- Business
- Business Recorder
Japan's Nikkei rises; NTT Data set to surge on takeover report
TOKYO: Japan's Nikkei share average edged up on Thursday as chip-related shares tracked a rally in US semiconductor stocks, while NTT Data was set for a 17% jump following a takeover report. The Nikkei added 0.23% to 36,863.15 by the midday break, after breaking a seven-day winning run on Wednesday. The broader Topix fell 0.18% to 2,691.36 and was poised to snap a nine-session rising streak. 'The two main indexes have recouped their losses quickly (since US President Donald Trump's tariff announcement last month), but the speed of the recovery has slowed down,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. 'Investors have become cautious as the Nikkei approached the psychological level of 37,000.' Overnight, US stocks rallied close to the closing bell as chipmakers jumped after Bloomberg reported Trump's administration plans to rescind artificial intelligence chip curbs. A US Commerce Department spokesperson subsequently confirmed the report. Japan's Nikkei bounces as US tariff fears ease, yen softens The PHLX semiconductor index ended 1.7% higher after losing as much as 1% on the day. Japan's chip-testing equipment maker Advantest rose 2.82% and chip-making equipment maker Tokyo Electron gained 1.32%. NTT Data was untraded with a glut of buy orders after the Nikkei newspaper reported telecom giant NTT plans to launch a tender offer worth up to 3 trillion yen ($20.88 billion) to buy the remaining shares in NTT Data. NTT Data, which provides data networks, was bid at the daily upper limit of 3,492 yen, a 17% jump on Wednesday's close of 2,991.5 yen. With the Nikkei average futures crossing the 37,000 level, the bid on NTT Data may continue through the next session, Suzuki said. Drug maker Torii Pharmaceutical surged 13.62% after peer Shionogi said it would acquire Torii, a subsidiary of Japan Tobacco, for more than 150 billion yen. Shipping firm Mitsui OSK Lines fell 3.2% to become the biggest percentage loser on the Nikkei, followed by technology investor SoftBank Group, which lost 2.36%.
Economic Times
08-05-2025
- Business
- Economic Times
Late chip rally lifts US stocks after Fed holds rates steady
U.S. stocks advanced on Wednesday in choppy trading, buoyed as semiconductor stocks rallied late on a report that regulations on artificial intelligence chips would be loosened. ADVERTISEMENT For most of the session, stocks bounced around, and trading remained choppy after the Federal Reserve kept U.S. interest rates unchanged in a move that market participants expected. Close to the closing bell, stocks rallied as chipmakers jumped after Bloomberg reported President Donald Trump's administration plans to rescind artificial intelligence chip curbs. The report was confirmed by a Commerce Department spokesperson. The PHLX semiconductor index ended 1.7% higher after falling as much as 1% on the day. Earlier, the Fed kept rates steady, with the central bank saying the risks of both higher inflation and unemployment had risen, further clouding the economic outlook as the Fed grapples with the impact of Trump's tariff policies. Trading in stocks was uneven following the Fed statement, until the boost from chipmakers. "Clearly, the statement is trying to send a message to the White House that their recent actions have made the economic environment more difficult," said Ellen Hazen, chief market strategist at F.L. Putnam Investment Management in Lynnfield, Massachusetts. ADVERTISEMENT "They're saying that the risk of higher unemployment has risen, the risk of higher inflation has risen. And they didn't specifically attribute it to the tariffs, but I think anybody looking at that is going to understand that that's what they mean." The Dow Jones Industrial Average rose 284.97 points, or 0.70%, to 41,113.97, the S&P 500 gained 24.37 points, or 0.43%, to 5,631.28 and the Nasdaq Composite gained 48.50 points, or 0.27%, to 17,738.16. ADVERTISEMENT The Dow was boosted by a 10.8% jump in Disney shares after the entertainment company's quarterly results topped Street expectations. After the central bank's decision on rates, Fed Chair Jerome Powell acknowledged uncertainty has soured sentiment among people and businesses, but the economy itself is still healthy. In addition, he said rate cuts are possible if supported by economic data but the Fed cannot make preemptive policy changes until there is more clarity. ADVERTISEMENT Markets are still largely pricing in a rate cut of at least 25 basis points from the Fed at its July meeting, according to LSEG data. Market sentiment was boosted early in the session, a day after Washington announced representatives of the U.S. and China would meet over the weekend in Switzerland for ice-breaker trade discussions following weeks of tit-for-tat tariffs between the economic heavyweights. ADVERTISEMENT The Trump administration has said potential deals with major trading partners are underway, but markets have yet to see talks bear fruit. Trump said shortly before the Fed statement he was not open to pulling back the 145% tariffs that had been announced. Financial markets have been whipsawed in recent weeks since Trump announced the tariffs in early April, with the S&P 500 dropping nearly 15% in the days after, only to recover nearly all of the declines. During most of the session, the Nasdaq was lower in part due weakness in Google-parent Alphabet, which closed down more than 7% and served to pull the S&P 500 communication services sector down 1.8% as the worst performer on the session. A report said iPhone-maker Apple was exploring the option of adding artificial-intelligence search options to its web browser, citing an executive. Apple's shares ended 1.1% lower. Advancing issues outnumbered decliners by a 1.56-to-1 ratio on the NYSE, and by a 1.2-to-1 ratio on the Nasdaq. The S&P 500 posted 18 new 52-week highs and eight new lows, while the Nasdaq Composite recorded 52 new highs and 114 new lows. Volume on U.S. exchanges was 15.43 billion shares, compared with the 17.55 billion average for the full session over the last 20 trading days. (You can now subscribe to our ETMarkets WhatsApp channel)
Yomiuri Shimbun
08-05-2025
- Business
- Yomiuri Shimbun
Japan's Nikkei Stock Average Rises; NTT Data Set to Surge on Takeover Report
Yomiuri Shimbun file photo The Tokyo Stock Exchange TOKYO, May 8 (Reuters) – Japan's Nikkei share average edged up on Thursday as chip-related shares tracked a rally in U.S. semiconductor stocks, while NTT Data was set for a 17% jump following a takeover report. The Nikkei added 0.23% to 36,863.15 by the midday break, after breaking a seven-day winning run on Wednesday. The broader Topix fell 0.18% to 2,691.36 and was poised to snap a nine-session rising streak. 'The two main indexes have recouped their losses quickly (since U.S. President Donald Trump's tariff announcement last month), but the speed of the recovery has slowed down,' said Seiichi Suzuki, chief equity market analyst at Tokai Tokyo Intelligence Laboratory. 'Investors have become cautious as the Nikkei approached the psychological level of 37,000.' Overnight, U.S. stocks rallied close to the closing bell as chipmakers jumped after Bloomberg reported Trump's administration plans to rescind artificial intelligence chip curbs. A U.S. Commerce Department spokesperson subsequently confirmed the report. The PHLX semiconductor index ended 1.7% higher after losing as much as 1% on the day. Japan's chip-testing equipment maker Advantest rose 2.82% and chip-making equipment maker Tokyo Electron gained 1.32%. NTT Data was untraded with a glut of buy orders after the Nikkei newspaper reported telecom giant NTT plans to launch a tender offer worth up to 3 trillion yen ($20.88 billion) to buy the remaining shares in NTT Data. NTT Data, which provides data networks, was bid at the daily upper limit of 3,492 yen, a 17% jump on Wednesday's close of 2,991.5 yen. With the Nikkei average futures crossing the 37,000 level, the bid on NTT Data may continue through the next session, Suzuki said. Drug maker Torii Pharmaceutical surged 13.62% after peer Shionogi said it would acquire Torii, a subsidiary of Japan Tobacco, for more than 150 billion yen. Shipping firm Mitsui OSK Lines fell 3.2% to become the biggest percentage loser on the Nikkei, followed by technology investor SoftBank Group, which lost 2.36%. ($1 = 143.6600 yen)
Time of India
08-05-2025
- Business
- Time of India
Late chip rally lifts US stocks after Fed holds rates steady
U.S. stocks experienced a day of fluctuating trading, ultimately closing higher. Semiconductor stocks surged late in the session following reports of eased AI chip regulations. The Federal Reserve's decision to hold interest rates steady initially led to choppy trading. Disney's strong quarterly results fueled a significant jump in its shares, boosting the Dow. Trade discussions between the U.S. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads U.S. stocks advanced on Wednesday in choppy trading, buoyed as semiconductor stocks rallied late on a report that regulations on artificial intelligence chips would be most of the session, stocks bounced around, and trading remained choppy after the Federal Reserve kept U.S. interest rates unchanged in a move that market participants to the closing bell, stocks rallied as chipmakers jumped after Bloomberg reported President Donald Trump's administration plans to rescind artificial intelligence chip curbs. The report was confirmed by a Commerce Department spokesperson. The PHLX semiconductor index ended 1.7% higher after falling as much as 1% on the the Fed kept rates steady, with the central bank saying the risks of both higher inflation and unemployment had risen, further clouding the economic outlook as the Fed grapples with the impact of Trump's tariff in stocks was uneven following the Fed statement, until the boost from chipmakers."Clearly, the statement is trying to send a message to the White House that their recent actions have made the economic environment more difficult," said Ellen Hazen, chief market strategist at F.L. Putnam Investment Management in Lynnfield, Massachusetts."They're saying that the risk of higher unemployment has risen, the risk of higher inflation has risen. And they didn't specifically attribute it to the tariffs, but I think anybody looking at that is going to understand that that's what they mean."The Dow Jones Industrial Average rose 284.97 points, or 0.70%, to 41,113.97, the S&P 500 gained 24.37 points, or 0.43%, to 5,631.28 and the Nasdaq Composite gained 48.50 points, or 0.27%, to 17, Dow was boosted by a 10.8% jump in Disney shares after the entertainment company's quarterly results topped Street the central bank's decision on rates, Fed Chair Jerome Powell acknowledged uncertainty has soured sentiment among people and businesses, but the economy itself is still healthy. In addition, he said rate cuts are possible if supported by economic data but the Fed cannot make preemptive policy changes until there is more are still largely pricing in a rate cut of at least 25 basis points from the Fed at its July meeting, according to LSEG sentiment was boosted early in the session, a day after Washington announced representatives of the U.S. and China would meet over the weekend in Switzerland for ice-breaker trade discussions following weeks of tit-for-tat tariffs between the economic Trump administration has said potential deals with major trading partners are underway, but markets have yet to see talks bear said shortly before the Fed statement he was not open to pulling back the 145% tariffs that had been markets have been whipsawed in recent weeks since Trump announced the tariffs in early April, with the S&P 500 dropping nearly 15% in the days after, only to recover nearly all of the most of the session, the Nasdaq was lower in part due weakness in Google-parent Alphabet, which closed down more than 7% and served to pull the S&P 500 communication services sector down 1.8% as the worst performer on the session.A report said iPhone-maker Apple was exploring the option of adding artificial-intelligence search options to its web browser, citing an executive. Apple's shares ended 1.1% issues outnumbered decliners by a 1.56-to-1 ratio on the NYSE, and by a 1.2-to-1 ratio on the S&P 500 posted 18 new 52-week highs and eight new lows, while the Nasdaq Composite recorded 52 new highs and 114 new on U.S. exchanges was 15.43 billion shares, compared with the 17.55 billion average for the full session over the last 20 trading days.
The Star
08-05-2025
- Business
- The Star
Late chip rally lifts stocks after Fed holds rates steady
The Dow rose 284.97 points, or 0.70%, to 41,113.97, the S&P 500 gained 24.37 points, or 0.43%, to 5,631.28 and the Nasdaq gained 48.50 points, or 0.27%, to 17,738.16. NEW YORK: US stocks advanced on Wednesday in choppy trading, buoyed as semiconductor stocks rallied late on a report that regulations on artificial intelligence chips would be loosened. For most of the session, stocks bounced around, and trading remained choppy after the Federal Reserve kept U.S. interest rates unchanged in a move that market participants expected. Close to the closing bell, stocks rallied as chipmakers jumped after Bloomberg reported President Donald Trump's administration plans to rescind artificial intelligence chip curbs. The report was confirmed by a Commerce Department spokesperson. The PHLX semiconductor index ended 1.7% higher after falling as much as 1% on the day. Earlier, the Fed kept rates steady, with the central bank saying the risks of both higher inflation and unemployment had risen, further clouding the economic outlook as the Fed grapples with the impact of Trump's tariff policies. Trading in stocks was uneven following the Fed statement, until the boost from chipmakers. "Clearly, the statement is trying to send a message to the White House that their recent actions have made the economic environment more difficult," said Ellen Hazen, chief market strategist at F.L. Putnam Investment Management in Lynnfield, Massachusetts. "They're saying that the risk of higher unemployment has risen, the risk of higher inflation has risen. And they didn't specifically attribute it to the tariffs, but I think anybody looking at that is going to understand that that's what they mean." The Dow Jones Industrial Average rose 284.97 points, or 0.70%, to 41,113.97, the S&P 500 gained 24.37 points, or 0.43%, to 5,631.28 and the Nasdaq Composite gained 48.50 points, or 0.27%, to 17,738.16. The Dow was boosted by a 10.8% jump in Disney shares after the entertainment company's quarterly results topped Street expectations. After the central bank's decision on rates, Fed chair Jerome Powell acknowledged uncertainty has soured sentiment among people and businesses, but the economy itself is still healthy. In addition, he said rate cuts are possible if supported by economic data but the Fed cannot make preemptive policy changes until there is more clarity. Markets are still largely pricing in a rate cut of at least 25 basis points from the Fed at its July meeting, according to LSEG data. Market sentiment was boosted early in the session, a day after Washington announced representatives of the US and China would meet over the weekend in Switzerland for ice-breaker trade discussions following weeks of tit-for-tat tariffs between the economic heavyweights. The Trump administration has said potential deals with major trading partners are underway, but markets have yet to see talks bear fruit. Trump said shortly before the Fed statement he was not open to pulling back the 145% tariffs that had been announced. Financial markets have been whipsawed in recent weeks since Trump announced the tariffs in early April, with the S&P 500 dropping nearly 15% in the days after, only to recover nearly all of the declines. During most of the session, the Nasdaq was lower in part due weakness in Google-parent Alphabet, which closed down more than 7% and served to pull the S&P 500 communication services sector down 1.8% as the worst performer on the session. A report said iPhone-maker Apple was exploring the option of adding artificial-intelligence search options to its web browser, citing an executive. Apple's shares ended 1.1% lower. Advancing issues outnumbered decliners by a 1.56-to-1 ratio on the NYSE, and by a 1.2-to-1 ratio on the Nasdaq. The S&P 500 posted 18 new 52-week highs and eight new lows, while the Nasdaq Composite recorded 52 new highs and 114 new lows. Volume on US exchanges was 15.43 billion shares, compared with the 17.55 billion average for the full session over the last 20 trading days. — Reuters
