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Time of India
20-05-2025
- Business
- Time of India
Wall Street stocks finish flat with sentiment weakened by Moody's downgrade
U.S. stocks finished near the unchanged mark on Monday with market sentiment weakened by the downgrade of the federal government's perfect sovereign credit rating owing to its huge debt profile. Moody's slashed the U.S. sovereign credit rating to "Aa1" from "Aaa" after markets closed on Friday, citing the government's $36 trillion outstanding debt and interest. "It is to be understood that markets were going to have a little bit of reaction because the (Moody's) announcement was after markets closed," said Talley Leger, chief market strategist at The Wealth Consulting Group. "But my view is that the 'sell-America' trade is overdone." Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Equities had rebounded from declines earlier in the session to finish near the unchanged mark. Still, the benchmark S&P 500 notched its sixth straight sessions of gains. Seven out of the 11 S&P sectors advanced led by healthcare, consumer staples, industrials , materials and utilities stocks. Live Events Energy stocks were the biggest losers in addition to consumer discretionary. The Dow Jones Industrial Average rose 137.33 points, or 0.32%, to 42,792.07, the S&P 500 gained 5.22 points, or 0.09%, to 5,963.60 and the Nasdaq Composite gained 4.36 points, or 0.02%, to 19,215.46. Benchmark 10-year Treasury yields gained on concerns that a U.S. tax bill will increase the debt load by more than previously expected. The yield on benchmark U.S. 10-year notes rose 1 basis point to 4.449%. President Donald Trump's sweeping tax-cut bill had won approval from a key congressional committee on Sunday. TXNM Energy rose 7% after the utility said it would be acquired by the infrastructure unit of Blackstone in an $11.5-billion deal. Novavax shares jumped 15% after the company secured a long-awaited U.S. regulatory approval for its COVID-19 vaccine. Regeneron Pharmaceuticals rose 0.4% after it announced it will buy genomics firm 23andMe Holdings for $256 million through a bankruptcy auction. Declining issues outnumbered advancers by a 1-to-1 ratio on the NYSE. There were 216 new highs and 50 new lows on the NYSE. The S&P 500 posted 26 new 52-week highs and no new lows while the Nasdaq Composite recorded 57 new highs and 57 new lows. Volume on U.S. exchanges was 19.41 billion shares, compared with the 17.34 billion average for the full session over the last 20 trading days.
New Straits Times
20-05-2025
- Business
- New Straits Times
Wall Street stocks finish flat with sentiment weakened by Moody's downgrade
NEW YORK: US stocks finished near the unchanged mark on Monday with market sentiment weakened by the downgrade of the federal government's perfect sovereign credit rating owing to its huge debt profile. Moody's slashed the US sovereign credit rating to "Aa1" from "Aaa" after markets closed on Friday, citing the government's US$36 trillion outstanding debt and interest. "It is to be understood that markets were going to have a little bit of reaction because the (Moody's) announcement was after markets closed," said Talley Leger, chief market strategist at The Wealth Consulting Group. "But my view is that the 'sell-America' trade is overdone." Equities had rebounded from declines earlier in the session to finish near the unchanged mark. Still, the benchmark S&P 500 notched its sixth straight sessions of gains. Seven out of the 11 S&P sectors advanced led by healthcare, consumer staples, industrials , materials and utilities stocks. Energy stocks were the biggest losers in addition to consumer discretionary. The Dow Jones Industrial Average rose 137.33 points, or 0.32 per cent, to 42,792.07, the S&P 500 gained 5.22 points, or 0.09 per cent, to 5,963.60 and the Nasdaq Composite gained 4.36 points, or 0.02 per cent, to 19,215.46. Benchmark 10-year Treasury yields gained on concerns that a US tax bill will increase the debt load by more than previously expected. The yield on benchmark US 10-year notes rose 1 basis point to 4.449 per cent. President Donald Trump's sweeping tax-cut bill had won approval from a key congressional committee on Sunday. TXNM Energy rose 7 per cent after the utility said it would be acquired by the infrastructure unit of Blackstone in an US$11.5-billion deal. Novavax shares jumped 15 per cent after the company secured a long-awaited US regulatory approval for its COVID-19 vaccine. Regeneron Pharmaceuticals rose 0.4 per cent after it announced it will buy genomics firm 23andMe Holdings for US$256 million through a bankruptcy auction. Declining issues outnumbered advancers by a 1-to-1 ratio on the NYSE. There were 216 new highs and 50 new lows on the NYSE. The S&P 500 posted 26 new 52-week highs and no new lows while the Nasdaq Composite recorded 57 new highs and 57 new lows. Volume on US exchanges was 19.41 billion shares, compared with the 17.34 billion average for the full session over the last 20 trading days.
West Australian
04-05-2025
- Business
- West Australian
Wall Street stocks buoyed by strong economic data
Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the US and China. The US economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2 per cent. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in US gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports. "The stock market is cheering this morning's payroll report but I have to point out that job growth did slow on the month and I haven't seen too many comments about that," said Talley Leger, chief market strategist at The Wealth Consulting Group. "I was a bit surprised because I was expecting a sharper slowdown given that non-farm payroll survey happened the week after the tariffs were announced. So I think the market is taking this in a positive light." Beijing on Friday said it was evaluating an offer from Washington to hold talks over President Donald Trump's 145 per cent tariffs, which he had imposed on Chinese imports. The tit-for-tat tariffs between the world's two largest economies have kept investors on edge, with both sides unwilling to be seen backing down in a trade war that has roiled global markets. Still, Trump's reversal of some tariffs has helped US stock indexes recover from recent losses. The S&P 500 has erased the slump set off by Trump's "Liberation Day" tariff announcement on April 2, with the index now up 0.3 per cent since the close of April 2. The tech-heavy Nasdaq was trading at levels last seen before April 2. The S&P 500 also reached its ninth consecutive session of gains, matching a winning streak from 2004, while the Dow hit a nine-day winning streak for the first since December 2023. For the week, the S&P 500 gained 2.9 per cent, the Dow climbed 3.0 per cent, and the Nasdaq added 3.43 per cent. The Dow Jones Industrial Average rose 564.47 points, or 1.39 per cent, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47 per cent, to 5,686.68 and the Nasdaq Composite gained 266.99 points, or 1.51 per cent, to 17,977.73. "I do think what today is saying is that the economy is a lot stronger than people thought and a lot more resilient in the face of all of these tariffs and fears about tariffs," said Thomas Hayes, chairman at Great Hill Capital in New York. Apple fell nearly 4.0 per cent after the iPhone maker trimmed its share buyback program by $US10 billion ($A16 billion) and CEO Tim Cook told analysts that tariffs could add about $US900 million ($A1.4 billion) in costs this quarter. Other so-called Magnificent Seven stocks such as Meta Platform rose 4.3 per cent and Nvidia gained 2.6 per cent. Amazon dipped 0.1 per cent. Chevron rose 1.6 per cent and ExxonMobil gained 0.4 per cent after both energy giants reported quarterly results. Block slumped 20 per cent after cutting its profit forecast for 2025 and missing estimates for quarterly earnings. Video game maker Take-Two Interactive fell nearly 7.0 per cent after it delayed the release of "Grand Theft Auto VI" to May 2026. Advancing issues outnumbered decliners by a 3.81-to-1 ratio on the NYSE. There were 144 new highs and 47 new lows on the NYSE. The S&P 500 posted 12 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 51 new highs and 38 new lows. Volume on US exchanges was 15.99 billion shares, compared with the 19.3 billion average for the full session over the last 20 trading days.
Perth Now
04-05-2025
- Business
- Perth Now
Wall Street stocks buoyed by strong economic data
Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the US and China. The US economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2 per cent. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in US gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports. "The stock market is cheering this morning's payroll report but I have to point out that job growth did slow on the month and I haven't seen too many comments about that," said Talley Leger, chief market strategist at The Wealth Consulting Group. "I was a bit surprised because I was expecting a sharper slowdown given that non-farm payroll survey happened the week after the tariffs were announced. So I think the market is taking this in a positive light." Beijing on Friday said it was evaluating an offer from Washington to hold talks over President Donald Trump's 145 per cent tariffs, which he had imposed on Chinese imports. The tit-for-tat tariffs between the world's two largest economies have kept investors on edge, with both sides unwilling to be seen backing down in a trade war that has roiled global markets. Still, Trump's reversal of some tariffs has helped US stock indexes recover from recent losses. The S&P 500 has erased the slump set off by Trump's "Liberation Day" tariff announcement on April 2, with the index now up 0.3 per cent since the close of April 2. The tech-heavy Nasdaq was trading at levels last seen before April 2. The S&P 500 also reached its ninth consecutive session of gains, matching a winning streak from 2004, while the Dow hit a nine-day winning streak for the first since December 2023. For the week, the S&P 500 gained 2.9 per cent, the Dow climbed 3.0 per cent, and the Nasdaq added 3.43 per cent. The Dow Jones Industrial Average rose 564.47 points, or 1.39 per cent, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47 per cent, to 5,686.68 and the Nasdaq Composite gained 266.99 points, or 1.51 per cent, to 17,977.73. "I do think what today is saying is that the economy is a lot stronger than people thought and a lot more resilient in the face of all of these tariffs and fears about tariffs," said Thomas Hayes, chairman at Great Hill Capital in New York. Apple fell nearly 4.0 per cent after the iPhone maker trimmed its share buyback program by $US10 billion ($A16 billion) and CEO Tim Cook told analysts that tariffs could add about $US900 million ($A1.4 billion) in costs this quarter. Other so-called Magnificent Seven stocks such as Meta Platform rose 4.3 per cent and Nvidia gained 2.6 per cent. Amazon dipped 0.1 per cent. Chevron rose 1.6 per cent and ExxonMobil gained 0.4 per cent after both energy giants reported quarterly results. Block slumped 20 per cent after cutting its profit forecast for 2025 and missing estimates for quarterly earnings. Video game maker Take-Two Interactive fell nearly 7.0 per cent after it delayed the release of "Grand Theft Auto VI" to May 2026. Advancing issues outnumbered decliners by a 3.81-to-1 ratio on the NYSE. There were 144 new highs and 47 new lows on the NYSE. The S&P 500 posted 12 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 51 new highs and 38 new lows. Volume on US exchanges was 15.99 billion shares, compared with the 19.3 billion average for the full session over the last 20 trading days.
Time of India
03-05-2025
- Business
- Time of India
Wall Street buoyed by strong economic data, possible US-China trade talks
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel NEW YORK: Wall Street stocks advanced on Friday, notching the second straight week of gains, helped by strong economic data and potential easing of trade tensions between the U.S. and U.S. economy added 177,000 jobs in April, exceeding expectations, while the unemployment rate held steady at 4.2%. The data helped to assuage concerns of a economic slowdown following a Commerce Department report, showing a contraction in U.S. gross domestic product for the first time in three years, weighed down by a tariff-induced flood of imports."The stock market is cheering this morning's payroll report but I have to point out that job growth did slow on the month and I haven't seen too many comments about that," said Talley Leger, chief market strategist at The Wealth Consulting Group "I was a bit surprised because I was expecting a sharper slowdown given that non-farm payroll survey happened the week after the tariffs were announced. So I think the market is taking this in a positive light."Beijing said on Friday it was evaluating an offer from Washington to hold talks over President Donald Trump 's 145% tariffs, which he had imposed on Chinese tit-for-tat tariffs between the world's two largest economies have kept investors on edge, with both sides unwilling to be seen backing down in a trade war that has roiled global Trump's reversal of some tariffs has helped U.S. stock indexes recover from recent losses. The S&P 500 has erased the slump set off by Trump's "Liberation Day" tariff announcement on April 2, with the index now up 0.3% since the close of April 2. The tech-heavy Nasdaq was trading at levels last seen before April S&P 500 also reached its ninth consecutive session of gains, matching a winning streak from 2004, while the Dow hit a nine-day winning streak for the first since December 2023. For the week, the S&P 500 gained 2.9%, the Dow climbed 3%, and the Nasdaq added 3.43%.The Dow Jones Industrial Average rose 564.47 points, or 1.39%, to 41,317.43, the S&P 500 gained 82.54 points, or 1.47%, to 5,686.68 and the Nasdaq Composite gained 266.99 points, or 1.51%, to 17,977.73."I do think what today is saying is that the economy is a lot stronger than people thought and a lot more resilient in the face of all of these tariffs and fears about tariffs," said Thomas Hayes, chairman at Great Hill Capital in New fell nearly 4% after the iPhone maker trimmed its share buyback program by $10 billion and CEO Tim Cook told analysts that tariffs could add about $900 million in costs this so-called Magnificent Seven stocks such as Meta Platform rose 4.3% and Nvidia gained 2.6%. Amazon dipped 0.1%.Chevron rose 1.6% and ExxonMobil gained 0.4% after both energy giants reported quarterly slumped 20% after cutting its profit forecast for 2025 and missing estimates for quarterly game maker Take-Two Interactive fell nearly 7% after it delayed the release of "Grand Theft Auto VI" to May issues outnumbered decliners by a 3.81-to-1 ratio on the NYSE . There were 144 new highs and 47 new lows on the S&P 500 posted 12 new 52-week highs and 3 new lows while the Nasdaq Composite recorded 51 new highs and 38 new on U.S. exchanges was 15.99 billion shares, compared with the 19.3 billion average for the full session over the last 20 trading days.
