2 hours ago
European stocks start higher
European stocks rose cautiously early on Thursday, with sector trade mixed, with the Stoxx 600 index up 0.26% as of 9:20 a.m. in London.
The major stock exchanges rose, with France’s CAC40 and Britain’s FTSE100 both up 0.5%, and Germany’s DAX up 0.1%.
9 hours ago
Asian airline stocks rise as oil prices fall more than 3%
Asian airline stocks soared as oil prices fell more than 3% as U.S. inventories rose more than expected.
South Korean airline Asiana Airlines led Asian carriers, rising nearly 4%, while peer Korean Air posted a 3.23% gain.
Australia’s flag carrier Qantas rose about 3.8%, while Japan’s ANA and Japan Airlines rose 1.53% and 2.8% respectively.
Other airlines, including Cathay Pacific Airways and Singapore Airlines, posted smaller gains, rising 1% and 0.48% respectively.
9 hours ago
US acknowledges Japan, South Korea’s ‘serious concerns’ over currency
The US acknowledged Japan and South Korea’s “grave concerns” over the recent sharp depreciation of the yen and won. The three parties agreed to “closely consult on developments in the foreign exchange market.”
This came after the first tripartite meeting of financial officials from the three countries.
U.S. Treasury Secretary Janet Yellen (center) meets with Japanese Finance Minister Shunichi Suzuki (left) and South Korean Economy Minister Choi Sang-mok at the Treasury Department in Washington, DC, on April 17, 2024.
Jim Watson | AFP | Getty Images
The Japanese yen recently hit a 34-year low against the US dollar, currently trading at 154.26 yen.
The Korean won has also hit its lowest level in 18 months against the US dollar, currently trading at 1,377.11 won.
— Lim Huijie
11 hours ago
Morgan Stanley, HSBC cut jobs in Asian investment banking this week – Reuters
Morgan Stanley and HSBC will cut dozens of jobs in their investment banking divisions in Asia-Pacific this week, Reuters reports.
Reuters, citing sources, said the move comes as both banks step up cost-cutting measures and a slowdown in deal-making and weak markets in China and Hong Kong weigh on business outlook. It is said that there is.
Starting this week, Morgan Stanley will cut at least 50 jobs in its investment banking division in the region, affecting about 13% of its 400 investment banking employees in Asia, the report said.
HSBC reportedly began cutting jobs on Tuesday, with around 30 dealmakers expected to leave the company.
— Lim Huijie
12 hours ago
Nasdaq Composite records longest weekly losing streak since December 2022
It’s only Wednesday, but the Nasdaq Composite Index is already on pace to decline 3% this week, marking its fourth decline in a week.
If the tech stock ratio ends the week in the red, the Nasdaq’s weekly losing streak will be the longest since December 2022.
As it stands, the 3% drop already puts the Nasdaq’s weekly performance on its worst trajectory since January.
The S&P 500 and Nasdaq fell for the fourth straight session on Wednesday, driven by a sell-off in tech stocks, including a nearly 4% decline in Nvidia. In April, the two indexes further fell into negative territory.
–Darla Mercado, Chris Hayes
12 hours ago
Barclays says strong earnings season can protect share prices from rising interest rates
Barclays said strong first-quarter profits could protect the market from high interest rates.
“We think earnings can still support stock prices against rising interest rates,” analyst Emmanuel Cau said on Wednesday. “Significantly lowered Q1 forecasts provide upside room and the pullback has reduced bubbles. Buying on the bullshit will work as long as improving activity data puts FY24 earnings recovery on track.” I might.”
But “there is little margin for error in reassessment,” Kaw added.
— Brian Evans
13 hours ago
Stock futures little changed on Wednesday
Stock futures were little changed Wednesday after the S&P 500 index suffered its fourth straight loss.
Futures tracking the broader market index rose 0.02%, while Nasdaq 100 futures rose 0.1%. Dow Jones Industrial Average futures fell 5 points (0.01%).
— Brian Evans
