Stock Market Today: Live Updates

European stock markets opened higher on Wednesday ahead of the European Central Bank’s (ECB) next meeting.

The pan-European Stoxx 600 index was up 0.5% in early trading, with all sectors and major bourses posting positive results.

Britain’s FTSE index rose 0.3% to 8,258, Germany’s DAX rose 0.5% to 18,494, France’s CAC 40 rose 0.4% to 7,971 and Italy’s FTSE MIB rose 0.4% to 34,425.

Australia’s economy grew 1.1% year-on-year in the first quarter, slowing from a revised growth rate of 1.6% in the fourth quarter.

Growth of 1.1 percent was slightly below the 1.2 percent forecast in a Reuters poll. On a quarterly basis, Australia’s GDP rose 0.1 percent, below the 0.2 percent forecast in a Reuters poll.

“GDP growth was weak in March, with the economy experiencing its slowest annual growth since December 2020,” Australian Bureau of Statistics head of national accounts Catherine Keenan said.

Lim Hui Jie

China’s services activity grew at its fastest pace in 10 months in May, according to a private survey.

The Caixin S&P Global Services Purchasing Managers’ Index rose to 54 from 52.5 in April, growing at the fastest pace since July 2023.

A PMI above 50 distinguishes between economic expansion and recession.

The survey also found that new work orders are growing at the fastest pace since May 2023.

Shreyasi Sanyal

Japan’s real wages fell for the 25th consecutive month in April, potentially undermining the Bank of Japan’s plans to raise interest rates and create a “virtuous cycle” of rising wages and prices.

Real wages fell 0.7%, slowing from a 2.1% decline in March, while nominal wages rose 2.1% from a year earlier to 296,884 yen ($1,913.28), government data showed.

This accelerated from 1% nominal wage growth in March and was the fastest growth in 10 months.

Lim Hui Jie

Traders are awaiting ADP private payroll data on Wednesday morning for an idea of ​​the state of the labor market.

Economists surveyed by Dow Jones expect these employers to add 175,000 jobs in May, slowing from April’s gain of 192,000.

Alex Harring

Below are some stocks that made notable moves in after-hours trading.

• CrowdStrike — The cybersecurity company reported better-than-expected quarterly results and guidance, sending its shares up about 7%.
• Hewlett Packard Enterprise — The tech company saw its shares rise about 11% after reporting better-than-expected second-quarter financials.

See the complete list here.

Alex Harring

Stock futures were roughly flat just after 6 p.m. ET.

Futures tracking the Dow rose nearly 0.1%, while futures for the S&P 500 and Nasdaq 100 were both slightly above flat.

Alex Harring