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US Equity Indexes Scale New Peaks This Week Amid Lift From Mega-Cap Earnings, Crude Oil

US equity indexes jumped this week as communications services and energy topped sector charts in a broad-based rally, reflecting the positive impact of mega-cap earnings and crude oil.* The S&P 500 closed at 7,230.12 on Friday versus 7,153.06 a week ago. The Nasdaq Composite stood at about 25,114.44, compared with 24,774.11 a week earlier. The Dow Jones Industrial Average ended at 49,499.27, versus 49,153.47 at the end of last week.* All but one sector, basic materials, rose this week. The top five sectors included financials, consumer defensive, and real estate, which shows a broadening of leadership to value-oriented areas.* Three Magnificent-7 stocks ended the week lower -- Meta Platforms (META), Nvidia (NVDA), and Microsoft (MSFT), according to data compiled by Finviz. Of the remaining four mega-caps, Alphabet (GOOG, GOOGL) led the pack with a gain of almost 12%. Except for Nvidia, all Mag-7 companies have so far reported quarterly results, with four of the six firms trading higher this week.* Among companies with a market capitalization of more than $200 billion, the top gainer was Intel (INTC), whose strong quarterly results translated into a weekly gain of almost 21%.* Brent crude oil futures soared to a four-year high this week before retreating, and West Texas Intermediate futures remained above the psychologically important $100 mark.* On Friday, Iran handed Washington a new proposal for ending the war, offering hints of compromise, The Wall Street Journal reported. The two sides remain far apart, however, on substantive issues of reopening the Strait of Hormuz and Iran's nuclear program, people familiar with the matter told the WSJ.* "They want to make a deal but I'm not satisfied with it," Trump told reporters at the White House Friday, according to Bloomberg. "We just had a conversation with Iran. Let's see what happens. But I would say that I am not happy."

Dow JonesNasdaq CompositeS&P 500$GOOG$GOOGL$INTC$META$MSFT$NVDA

Asia Markets142d ago

Exchange-Traded Funds Advance as US Equities Rise After Midday Friday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV were higher. Actively traded Invesco QQQ Trust (QQQ) edged up 1%.US equity indexes rose after midday Friday, with technology and consumer discretionary helping push the S&P 500 and Nasdaq Composite to record highs, while crude oil futures slumped.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each shed about 1.5%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 1.4%; iShares US Technology ETF (IYW) rose 1.3%, and iShares Expanded Tech Sector ETF (IGM) gained 1.3%.The State Street SPDR S&P Semiconductor (XSD) climbed 1%, and iShares Semiconductor (SOXX) was up 0.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) rose 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 0.3%.CommoditiesCrude oil fell 2.6%, and the United States Oil Fund (USO) slipped 3.1%. Natural gas rose fractionally, and the United States Natural Gas Fund (UNG) added 0.3%.Gold on Comex added 0.4%, and the State Street SPDR Gold Shares (GLD) gained 0.5%. Silver rose 3%, and iShares Silver Trust (SLV) was up 3.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) fell 0.3%. The Vanguard Consumer Staples ETF (VDC) and iShares Dow Jones US Consumer Goods (IYK) also declined.The State Street Consumer Discretionary Select Sector SPDR (XLY) gained 0.6%. VanEck Retail ETF (RTH) dipped 0.1%, and the State Street SPDR S&P Retail (XRT) was down 0.7%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.3%, iShares US Healthcare (IYH) shed 0.2%, and Vanguard Health Care ETF (VHT) was 0.2% lower. IShares Biotechnology ETF (IBB) dipped 1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) fell 0.7%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 2.4%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 2.7%, ProShares Ether ETF (EETH) gained 2.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% higher.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets142d ago

European Markets Quiet on May Day, FTSE Edges Lower; UK Manufacturing Reaches Near 4-Year High

Major European stock markets were closed for May Day Friday, except for the FTSE 100, which was edging 0.1% lower.In the UK, the seasonally adjusted S&P Global UK Manufacturing Purchasing Managers' Index rose to 53.7 in April, which is its highest reading since May 2022.Meanwhile, the average house price in the UK rose 3% on an annual basis in April to 278,880 British pounds, according to the Nationwide House Price Index.In corporate news, Aon reported Q1 adjusted earnings Friday of $6.48 per diluted share, up from $5.67 a year earlier. Analysts polled by FactSet expected $6.37.Revenue for the quarter ended March 31 was $5.03 billion, compared with $4.73 billion a year earlier. Analysts polled by FactSet expected $4.97 billion.The company said it's reaffirming its 2026 guidance of mid-single-digit or greater organic revenue growth and "strong" adjusted EPS growth.Shares of Aon were up 3.5% in London.GSK's Linerixibat, to be marketed as Lynavoy, has been approved by the UK's Medicines and Healthcare products Regulatory Agency for the treatment of itching in adults with primary biliary cholangitis, the agency said Friday.The oral therapy aims to reduce bile acid buildup linked to the rare liver disease, which can cause persistent itching, the agency said.Shares of GSK were declining 1.5% in London.AstraZeneca said Thursday that the US Food and Drug Administration's Oncologic Drugs Advisory Committee has recognized a favorable benefit risk profile for Truqap in combination with abiraterone and androgen deprivation therapy for the treatment of patients with prostate cancer.The specific indication is for PTEN-deficient metastatic hormone-sensitive prostate cancer, the company said. The committee voted 7 to 1, with one member abstaining, AstraZeneca said.Shares of the British pharmaceutical company were falling close to 3% in London.Novo Nordisk said Friday it has rebranded its oral semaglutide medication for type 2 diabetes, formerly known as Rybelsus, as Ozempic.Starting Monday, Ozempic 1.5 mg, 4 mg and 9 mg tablets will be available for adults with type 2 diabetes in the US, the company said. Rybelsus was first approved by the FDA in 2019 and offered 3 mg, 7 mg and 14 mg tablets, the company said."The new Ozempic pill works similarly to semaglutide tablets 3 mg, 7 mg, and 14 mg and has the same efficacy and safety profile as the original formulation offered in a smaller pill," Novo Nordisk said.Shares of the Danish pharmaceutical company were up 1.4% in Copenhagen.NatWest reported Q1 earnings Friday of 0.179 British pound ($0.24) per basic share, up from 0.155 pound a year earlier. Analysts polled by FactSet expected 0.169 pound.Total income for the quarter ended March 31, expressed as the sum of net interest income and total noninterest income, was 4.36 billion pounds, up from 3.98 billion pounds a year earlier. Analysts surveyed by FactSet expected 4.30 billion pounds.For 2026, the company now expects income excluding notable items to be at the top end of its previous guidance range of 17.2 billion pounds to 17.6 billion pounds.Shares of the British bank were losing 3.2% in London.

Asia Markets142d ago

UK's FTSE 100 Closes Lower; NatWest, AstraZeneca Shares Down

London's FTSE 100 concluded the trading week on a downbeat note, closing 0.14% lower on Friday amid a busy day of corporate updates, economic data prints, and private sector data releases.The UK's manufacturing sector remained in the growth territory in April, with the final S&P Global UK Manufacturing PMI reaching a 47-month high of 53.7, against the previous month's 51 and the flash estimate of 53.6. The latest reading, which sits above the neutral 50 threshold for the sixth straight month, is supported by higher output and improved new order intakes."The upturn comes with several of catches, however. Restrictions on transit through the Strait of Hormuz are causing substantial disruptions to input deliveries, with supplier lead times lengthening to the greatest extent in almost four years," said S&P Global Market Intelligence Director Rob Dobson. "It should also be noted that the gain in production is partly the result of clients bringing forward purchases to mitigate expected price uplifts and supply disruptions. As this process unwinds later in the year, alongside declining business optimism, growth in the sector could cool while inflationary pressures remain on high heat."On the housing market front, annual house price growth in the UK climbed to 3% in April from 2.2% in March, according to Nationwide Building Society data, beating the consensus estimate of a 2.2% rise. On a monthly basis, seasonally adjusted house prices were 0.4% higher, marking four consecutive months of growth and exceeding the expected 0.3% decline.In corporate news, NatWest Group's (NWG.L) first-quarter attributable net profit jumped to 1.43 billion pounds sterling from 1.25 billion pounds. The banking group's total impairment provisions stood at 3.74 billion pounds as of March 31, up from the year-ago 3.59 billion pounds, amid increased economic uncertainty due to the Middle East conflict. The group was the biggest loser on the index, shedding 3.35% at closing.AstraZeneca (AZN.L) also saw its shares fall 3.13% after the US Food and Drug Administration's Oncologic Drugs Advisory Committee voted against approving the benefit risk profile of the drugmaker's investigational drug camizestrant combined with a cyclin-dependent kinase 4/6 inhibitor as a first-line treatment for patients with hormone receptor-positive, HER2-negative advanced breast cancer.The London Stock Exchange will be closed on May 4 for the Early May Bank Holiday, with trading to resume the next day.

FTSE 100$AZN.L$NWG.L

Asia Markets142d ago

European Equities Traded in the US as American Depositary Receipts Flat in Friday Trading; Gain 1.3% for Week

European equities traded in the US as American depositary receipts were trending marginally higher late Friday morning, rising 0.05% to 1,824.45 on the S&P Europe Select ADR Index, which is up 1.25% for the week so far.From continental Europe, the gainers were led by telecommunications company Nokia (NOK) and pharmaceutical company Novo Nordisk (NVO), which climbed 6.3% and 3.6% respectively. They were followed by biopharmaceutical company Cellectis (CLLS) and consumer goods company Unilever (UL), which advanced 3.3% and 3% respectively.The decliners from continental Europe were led by biotech firm BioNTech (BNTX) and furniture maker Natuzzi (NTZ), which dropped 6% and 3.5% respectively. They were followed by biopharmaceutical company DBV Technologies (DBVT) and petroleum refiner Equinor (EQNR), which lost 3.3% and 2.4% respectively.The gainers from the UK were led by educational publisher Pearson (PSO) and biopharmaceutical company Akari Therapeutics (AKTX), which rose 3.2% and 2.8% respectively. They were followed by biopharmaceutical company Bicycle Therapeutics (BCYC) and cruise line operator Carnival (CUK), which were up 2.7% and 2.5% respectively.The decliners from the UK and Ireland were led by biopharmaceutical company Amarin (AMRN) and oil and gas company BP (BP), which fell 2.8% and 1.9% respectively. They were followed by biopharmaceutical company Biodexa Pharmaceuticals (BDRX) and oil and gas company Shell (SHEL), which were down 1.4% and 1.2% respectively.

$AKTX$AMRN$BCYC$BDRX$BNTX$BP$CLLS$CUK$DBVT$EQNR$NOK$NTZ$NVO$PSO$SHEL$UL

Asia Markets142d ago

Asian Equities Traded in the US as American Depositary Receipts Rise Slightly Higher in Friday Trading; End Week on Flat Note

Asian equities traded in the US as American depositary receipts were tracking slightly higher Friday morning, rising 0.21% to 2,809.21 on the S&P Asia 50 ADR Index, which is up only 0.01% for the week.From North Asia, the gainers were led by semiconductor company Silicon Motion Technology (SIMO) and video streaming service iQIYI (IQ), which rose 4.4% and 4.3% respectively. They were followed by video display maker LG Display (LPL) and fintech firm AMTD Digital (HKD), which advanced 3.4% and 2.9% respectively.The decliners from North Asia were led by real estate management firm Eason Technology (DXF) and electric vehicle maker NIO (NIO), which fell 7.1% and 6.8% respectively. They were followed by casino and resort operator Melco Resorts & Entertainment (MLCO) and lender Nomura (NMR), which were down 4.2% and 2.2% respectively.From South Asia, the gainers were led by tech conglomerate Sea (SE) and IT firm Infosys (INFY), which increased 1.5% and 0.6% respectively. They were followed by lender ICICI Bank (IBN) and pharmaceutical company Dr. Reddy's Laboratories (RDY), which were up 0.3% each.The decliners from South Asia were led by IT company Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which lost 0.5% and 0.3% respectively. They were followed by IT firm Wipro (WIT) and telecommunications operator Telekomunikasi Indonesia (TLK), which were off 0.2% each.

$DXF$HKD$IBN$INFY$IQ$LPL$MLCO$NIO$NMR$PHI$RDY$SE$SIFY$SMO$TLK$WIT

Asia Markets142d ago

US Equity Futures Nudge Higher Pre-Bell After S&P 500, Nasdaq Reach New Closing Highs

US equity futures were higher pre-bell Friday after the S&P 500 and Nasdaq Composite reached new closing highs to close out April amid a continued impasse in the Middle East.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.3%, and Nasdaq futures were marginally higher.On Thursday, the S&P 500 rose 1% to close at 7,209.01, breaching the 7,200 mark for the first time, while Nasdaq increased 0.9% to close at 24,892.31, also a new closing record.US President Donald Trump has rejected Iran's latest offer, stating that the US naval blockade on the nation's ports will remain until the regime agrees to a deal that addresses US concerns about its nuclear program, according to an Axios report on Wednesday.Traders took note of the latest round of earnings, with energy majors Exxon Mobil (XOM) and Chevron (CVX) both reporting lower Q1 adjusted earnings but higher revenue.Oil prices were mixed, with front-month global benchmark North Sea Brent crude up 0.4% at $110.85 per barrel and US West Texas Intermediate crude 1.2% lower at $103.79 per barrel.The final Purchasing Managers' Manufacturing Index for April, due at 9:45 am ET, is seen coming in at 54.0, unchanged from its prior value, according to estimates compiled by Bloomberg.The April Institute for Supply Management's services index, due at 10 am ET, is projected at 53.2, versus 52.7 previously.In other world markets, Japan's Nikkei, Hong Kong's Hang Seng, China's Shanghai Composite, and Germany's DAX index were all closed due to public holidays. The UK's FTSE 100 was down 0.6% in Europe's early afternoon session.In equities, Roblox (RBLX) stock was down 24% after the company reported a wider Q1 loss and lower-than-expected revenue, as well as lowering its 2026 revenue outlook. Sandisk (SNDK) and Western Digital (WDC) shares dropped 4.6% and 8%, respectively, despite the companies posting fiscal Q3 earnings and revenue that surpassed analysts' consensus.On the winning side, Apple (AAPL) stock was up 3.6% after the company posted higher fiscal Q2 earnings and revenue that also beat analysts' estimates. Reddit (RDDT) shares were up 15% after the company reported higher Q1 earnings and revenue in addition to issuing better-than-expected Q2 revenue guidance.

Dow JonesNasdaq CompositeS&P 500$AAPL$CVX$RBLX$RDDT$SNDK$WDC$XOM

Asia Markets142d ago

UAE Stocks in Green as US-Iran War Risks Resurface

Markets in the United Arab Emirates ended the last trading day of the week on a positive note despite investors adopting a risk-off stance due to renewed fears of escalation between the US and Iran.At the close of Friday trading, the FTSE ADX General Index gained 0.110%, while the DFM General Index ended somewhat muted but 0.014% in the green.Oil prices rose on Friday after multiple media outlets reported that Iran threatened to strike US positions if the latter decided to renew its attacks. A previous report by Axios noted that US President Donald Trump was set to receive a briefing on new military action against Iran."We're heading towards another weekend of potential uncertainty, with Friday, 1 May, seen in the minds of many as something of a key day by which some move needs to happen between the US and Iran with respect to a deal of sorts. Hope is fading on this, which risks seeing the pendulum swinging back in the direction of a resumed kinetic outcome. That would not be great for markets, which would prefer a quick reopening of the Strait, even on a bad deal," ING said.As of 3:21 pm UAE time, the Brent crude oil futures stood at nearly $110.89 per barrel, up 0.44% from the previous day.Zooming in at home, the UAE Central Bank launched a service for non-resident visitors to open digital bank accounts using their tourist identity. The initiative was launched in collaboration with the Federal Authority for Identity, Citizenship, Customs and Port Security and Abu Dhabi Commercial Bank (ADX:ADCB).Over to corporates, Pure Health (ADX:PUREHEALTH) reported a decline in its first-quarter attributable profit. Shares of the Abu Dhabi-listed healthcare services company closed the session 0.47% in the green.Elsewhere, Dubai Financial Market's (DFM:DFM) attributable profit for the same quarter jumped to 177.7 million Emirati dirhams backed by a 36% year-over-year growth in revenue. The stock exchange operator's shares ended 0.70% higher at trading's close.Looking ahead to next week, the local economic calendar will see the release of the country's S&P Global Purchasing Managers' Index report for April. The indicator fell to 52.9 in March.

^DFMGI^FADGIADX:ADCBADX:PUREHEALTHDFM:DFM

Asia Markets143d ago

Exchange-Traded Funds Higher as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV rose. Actively traded Invesco QQQ Trust (QQQ) edged up 0.4%.US equity indexes were higher after midday Thursday as investors weighed mega-cap corporate earnings and a warning from Iran's new supreme leader that Tehran won't give up its nuclear stockpile.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 0.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was down 0.4%; iShares US Technology ETF (IYW) rose 0.6%, and iShares Expanded Tech Sector ETF (IGM) gained 0.5%.The State Street SPDR S&P Semiconductor (XSD) climbed 3.7%, and iShares Semiconductor (SOXX) was up 1.9%.FinancialThe State Street Financial Select Sector SPDR (XLF) added 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) climbed 0.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), lost 0.4%.CommoditiesCrude oil fell over 2%, and the United States Oil Fund (USO) lost 3%. Natural gas was up 4%, and the United States Natural Gas Fund (UNG) rose 4.2%.Gold on Comex added 1.4%, and the State Street SPDR Gold Shares (GLD) advanced 1.6%. Silver rose 2.3%, and iShares Silver Trust (SLV) was up 2.6%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) rose 1.4%. The Vanguard Consumer Staples ETF (VDC) added 1.5%, and iShares Dow Jones US Consumer Goods (IYK) was 0.9% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose 0.4%. VanEck Retail ETF (RTH) added 0.5%, and the State Street SPDR S&P Retail (XRT) was up 1.9%.Health CareThe State Street Health Care Select Sector SPDR (XLV) rose 2.3%, iShares US Healthcare (IYH) added 2.3%, and Vanguard Health Care ETF (VHT) was 2.2% higher. IShares Biotechnology ETF (IBB) gained 2%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) added 2.4%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) added 0.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) rose 1%, ProShares Ether ETF (EETH) gained 1.2%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

Asia Markets143d ago

European Stocks Track Sharply Higher in Thursday Trading; Euro Area Inflation Rises

The European stock markets were tracking sharply higher in Thursday trading as The Stoxx Europe was rising 1.3%, Germany's DAX was also up 1.3%, the FTSE 100 was climbing 1.5%, the Swiss Market Index increased 0.7%, and France's CAC was advancing 0.5%.Euro area annual inflation is expected to be 3.0% in April, up from 2.6% in March, according to a flash estimate from Eurostat, the statistical office of the European Union.Among the main components of inflation, energy prices rose at the fastest annual rate in April at 10.9%, more than doubling the 5.1% reported in March.Seasonally adjusted GDP increased 0.1% in Q1 in both the euro area and the EU, compared with the previous quarter, according to Eurostat. This is compared with 0.2% growth in Q4 for both the euro area and the EU.Compared with a year earlier, seasonally adjusted GDP grew 0.8% in the euro area and 1.0% in the EU in Q1, following growth of 1.3% in the euro area and 1.4% in the EU the previous quarter.And in corporate news, Unilever reported Q1 turnover Thursday of 12.6 billion euros ($14.72 billion), down 3.3% from a year earlier. Underlying sales for the quarter grew 3.8%, the company added.Unilever expects 2026 underlying sales growth to be at the lower end of its multi-year guidance range of 4% to 6%, according to the statement.Shares of the consumer goods giant were trading close to 2% higher in London.Banco Bilbao Vizcaya Argentaria reported Q1 adjusted earnings Thursday of 0.51 euro ($0.60) per diluted share, up from 0.45 euro a year earlier.Two analysts polled by FactSet expected 0.48 euro.Gross income for the quarter ended March 31 was 10.65 billion euros, up from 9.32 billion euros a year earlier.Shares of the Spanish bank were rising 1.7% in Madrid.ING Groep reported Q1 earnings Thursday of 0.54 euros ($0.63) per share, up from 0.47 euros a year earlier. Four analysts polled by FactSet expected 0.49 euros.Total income for the quarter ended March 31 was 5.82 billion euros, compared with 5.64 billion euros a year earlier. Analysts surveyed by FactSet expected 5.86 billion euros.For 2026, the lender said it continues to expect total income of 24 billion euros.Analysts polled by FactSet expect 24.21 billion euros.The company also approved a new 1 billion euros share buyback program.Shares of ING were advancing close to 4% in Amsterdam.Stellantis reported Q1 adjusted earnings Thursday of $0.21 per diluted share, up from $0.04 a year earlier. Analysts polled by FactSet expected $0.19.Net revenue for the quarter ended March 31 was $38.13 billion, compared with $35.81 billion a year earlier. Four analysts surveyed by FactSet expected $44.95 billion.For 2026, the company expects net revenue growth of mid-single digit percentage. Analysts polled by FactSet expect $188.42 billion.Shares of the automaker were down more than 6% in Paris.TotalEnergies and partner Nextnorth have reached financial close and broke ground on a 440 MWp solar power plant in Ilagan, the Philippines, the companies said Thursday.The project, which is 65% owned by TotalEnergies, is expected to be operational by the end of 2027, producing 13.5 TWh over 20 years.The companies said that more than 50% of the project's power will be sold under long-term offtake deals with AdventEnergy and PrimeRES, while the rest will be sold to the national grid.Shares of the French oil and gas company were up 1.4% in Paris.

Asia Markets143d ago

Swiss Stocks Recover as ECB, BoE Rate Decisions Take Spotlight

The Swiss Market Index bounced back to positive territory on Thursday, closing 0.80% higher, ahead of the Labor Day holiday as investors turned their attention to the latest economic data prints and key monetary policy decisions in Europe.Switzerland's KOF Economic Barometer climbed to 97.9 points in April from the revised 95.6 points in the previous month."After the considerable drop in the previous month, it continues to remain below its medium-term average. The outlook for the Swiss economy remains muted, despite this month's increase," the KOF Swiss Economic Institute said. "Among the indicator bundles included in the Economic Barometer, the indicators for manufacturing, for other services and for private consumption show particularly positive developments."Elsewhere and on the regulatory front, the European Central Bank left its three benchmark interest rates unchanged, as expected. In the UK, the Bank of England also maintained its bank rate at 3.75%, after its monetary policy committee voted 8-1 in favor of a hold. Both central banks cautioned that the Middle East conflict continues to pose upside risks to inflation due to higher energy prices."All in all, the main take-away from today's ECB meeting can probably be described as another hawkish shift, introducing a clear hiking bias to its wait-and-see stance. It's still hard to see that the ECB would really want to fight an exogenous supply shock at the cost of worsening an economic downturn. However, a rate hike, be it symbolic or even a policy mistake, at the June meeting has clearly become more likely today," ING said. The research firm also expects the BoE to carry out a "one and done" rate increase in June.Over to corporates, OC Oerlikon's (OERL.SW) order intake and sales grew 17.9% and 5.3% year over year, respectively, to 455 million francs and 378 million francs in the first quarter, both at constant currency. The Swiss surface technologies and advanced materials company's shares added 4.43% at closing.Swiss drugmaker Novartis (NOVN.SW) also saw its shares rise 2.26% after announcing plans to open a new facility in the US state of North Carolina to manufacture active pharmaceutical ingredients for solid dosage tablets, capsules and RNA therapeutics. The facility is part of the company's wider $23 billion investment plan in the US to boost production capacity.The SIX Swiss Exchange is set to reopen on May 4.

^SSMI$NOVN.SW$OERL.SW

Asia Markets143d ago

Germany's DAX Index Rebounds as ECB Holds Rates

The German blue-chip DAX index recovered, closing 1.41% higher on Thursday, as investors digested the European Central Bank's latest policy decision alongside a flurry of corporate updates and economic data.In a widely expected move, the ECB kept its key interest rates unchanged as the euro area's inflation rate hovers near the central bank's 2% medium-term target. The central bank's Governing Council also reiterated its data-dependent approach to rate decisions, noting continued uncertainty amid ongoing global trade disputes and geopolitical tensions."There remains a sense of calm confidence, with references to the resilience of the economy in recent quarters and longer-term inflation expectations remaining well-anchored. But there is also a sense of rising concern the longer the conflict in the Middle East continues," Deutsche Bank Chief European Economist Mark Wall said. "Overall, this is a statement that does not pre-commit the ECB to hiking in June. But it does not stop the ECB from hiking in June either."In other economic news, provisional data from Destatis showed that Germany's gross domestic product ticked up 0.3% in the first quarter from a revised 0.2% increase in the previous three-month period, surpassing the consensus estimate from Investing.com of 0.1%"Details will only be released in a few weeks, but according to the statistical office's press release, GDP growth was driven by stronger private and public consumption as well as stronger exports. A note of caution: as this flash estimate does not include any hard data for March, a downward revision of today's data cannot be excluded," ING wrote, adding that the German economy is "defying the adverse impact of the war in the Middle East, for now at least."On the corporate front, BASF (BAS.F) was up 1.28%, as mwb Research noted that the chemicals group's first-quarter beat obscures "underlying weakness." BASF delivered sales of 16.02 billion euros and adjusted EBITDA of 2.36 billion euros, both coming in ahead of consensus estimates at 15.9 billion euros and 2.19 billion euros, respectively, despite year-over-year declines."BASF delivered a modest Q1 beat on adj. EBITDA, but the quality remains weak, driven primarily by volume growth (notably from China and the Zhanjiang ramp-up) rather than underlying demand, with continued pricing pressure (-4.8% ex-metals) and FX headwinds weighing on profitability, especially in upstream segments," mwb said.Meanwhile, Deutsche Post (DHL.F), d/b/a DHL Group, reported a higher-than-expected first-quarter group EBIT of 1.48 billion euros, up 8.3% year over year and 7.5% ahead of company-compiled consensus, according to Bernstein. The logistics group rose to the top spot, climbing 7.51% at closing.Trading venues Xetra and Börse Frankfurt will be closed on Friday for Labor Day.

^DAX$BAS.F$DHL.F

Asia Markets143d ago

UK Shares Rally as Central Bank Maintains Policy Status Quo; United Utilities Plans Investment

London's FTSE 100 closed 1.62% higher on Thursday after the Bank of England kept its benchmark rate unchanged at 3.75%, in line with expectations."We think this is a reasonable place given the situation of the economy and the unpredictability of events in the Middle East. We'll continue to monitor the situation and its impact on the UK economy very closely. Whatever happens, our job is to make sure that inflation gets back to the 2% target after the initial impact of the war on energy prices has passed," BoE Governor Andrew Bailey said.In other economic news, Britain's total vehicle manufacturing dropped 8.2% year over year to 72,511 units in March, the Society of Motor Manufacturers and Traders said. Car production declined 0.8% to 69,755 units, while commercial vehicle output plunged 68.3% to 2,756 units."Car production stabilising in March is welcome news for both assembly and the wider supply chain," SMMT Chief Executive Mike Hawes said. "Government's recent intervention to bring down electricity costs will provide a major and long-called for boost, but the scheme's benefits must be delivered urgently as the geopolitical situation offers little optimism."On the corporate side, United Utilities Group (UU.L), up 11.05%, led the blue-chip index after submitting an incremental investment program of 1.4 billion pounds sterling for the UK's North West region to the Water Services Regulation Authority, or Ofwat. To fund the equity portion of the broader 2.5 billion-pound investment program, the utility launched an equity placing of 800 million pounds.Rolls-Royce Holdings (RR.L) surged 7.59% after confirming its underlying operating profit guidance of 4 billion pounds sterling to 4.2 billion pounds for 2026. "We remain strongly positioned to deliver our mid-term targets, with substantial growth beyond the mid-term from both our existing and new businesses," Chief Executive Tufan Erginbilgic said.By contrast, Weir Group (WEIR.L), down 3.98%, was one of the index's worst performers after announcing the departure of Chief Executive Officer Jon Stanton, effective Aug. 1. The engineering group appointed Andrew Neilson, president of the minerals division, as CEO-designate.

FTSE 100$RR.L$UU.L$WEIR.L

Asia Markets143d ago

European Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading

European equities traded in the US as American depositary receipts rose late Thursday morning, gaining 2.20% to 1,818.51 on the S&P Europe Select ADR Index.From continental Europe, the gainers were led by pharmaceutical company Novo Nordisk (NVO) and lender ING Groep (ING), which advanced 5.3% and 4.9% respectively. They were followed by biopharmaceutical firm Grifols (GRFS) and consumer goods firm Unilever (UL), which rose 3.2% and 3.1% respectively.The decliners from continental Europe were led by internet advertising firm Criteo (CRTO) and telecommunications company Nokia (NOK), which fell 3.2% and 1.9% respectively.The gainers from the UK were led by cruise line operator Carnival (CUK) and utilities company National Grid (NGG), which rose 4.8% and 3.5% respectively. They were followed by Lloyds Banking Group (LYG) and telecommunications operator Vodafone Group (VOD), which were up 2.6% and 2.3% respectively.The decliners from the UK and Ireland were led by software firm Endava (DAVA) and Bicycle Therapeutics (BCYC), which lost 5.2% and 2.3% respectively. They were followed by biopharmaceutical companies Amarin (AMRN) and Mereo BioPharma Group (MREO), which fell 1.3% and 0.9% respectively.

$AMRN$BCYC$CRTO$CUK$DAVA$GRFS$ING$LYG$MREO$NGG$NOK$NVO$UL$VOD

Asia Markets143d ago

Asian Equities Traded in the US as American Depositary Receipts Rise in Thursday Trading

Asian equities traded in the US as American depositary receipts were tracking moderately higher Thursday morning, rising 0.36% to 2,768.22 on the S&P Asia 50 ADR Index.From North Asia, the gainers were led by biopharmaceutical company Zai Lab (ZLAB) and solar panel maker JinkoSolar (JKS), which advanced 4.3% and 4.1% respectively. They were followed by fintech firm LexinFintech (LX) and tech company Xunlei (XNET), which increased 2.5% and 2.3% respectively.The decliners from North Asia were led by electric vehicle maker NIO (NIO) and semiconductor company Silicon Motion Technology (SIMO), which fell 3.7% and 3.5% respectively. They were followed by internet and data center services provider VNET Group (VNET) and semiconductor company Himax Technologies (HIMX), which were down 2.1% and 1.5% respectively.From South Asia, the gainers were led by IT firm Sify Technologies (SIFY) and telecommunications operator PLDT (PHI), which rose 0.7% and 0.6% respectively. They were followed by IT firm Wipro (WIT) and lender ICICI Bank (IBN), which were up 0.5% and 0.2% respectively.The decliners from South Asia were led by tech conglomerate Sea (SE) and telecommunications operator Telekomunikasi Indonesia (TLK), which dropped 0.4% and 0.3% respectively. They were followed by pharmaceutical company Dr. Reddy's Laboratories (RDY) and IT firm Infosys (INFY), which were off 0.2% and 0.1% respectively.

$HIMX$IBN$INFY$JKS$LX$NIO$PHI$RDY$SE$SIFY$SIMO$TLK$VNET$WIT$XNET$ZLAB

Asia Markets143d ago

Big Tech Earnings, Fed Rate Decision Lift US Equity Futures Pre-Bell

US equity futures were higher pre-bell Thursday as traders absorbed the latest round of financial results, including those of big tech, amid the Federal Open Market Committee maintaining its target rate.Dow Jones Industrial Average futures were 0.6% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.Alphabet (GOOG, GOOGL), Amazon (AMZN), and Meta Platforms (META) all reported higher earnings and revenue for Q1, while Microsoft (MSFT) posted an increase in fiscal Q3 adjusted earnings and revenue. Apple (AAPL) is expected to publish its fiscal Q2 financial results after-market.The Federal Open Market Committee maintained the target range for its federal funds rate at 3.50% to 3.75%, as expected, but the level of dissent was reportedly the highest since 1992, with four officials dissenting.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.7% at $109.72 per barrel and US West Texas Intermediate crude 1.2% lower at $106.61 per barrel.In other world markets, Japan's Nikkei closed 1.1% lower, Hong Kong's Hang Seng ended 1.3% lower, and China's Shanghai Composite finished 0.1% higher. Meanwhile, the UK's FTSE 100 was up 1.4%, and Germany's DAX index was 0.9% higher in Europe's early afternoon session.The March core personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge, released at 8:30 am ET, gained 0.3%, lower than 0.4% in the prior month and meeting estimates compiled by Bloomberg.Initial jobless claims declined to 189,000 in the week ended April 25 from an upwardly revised 215,000 level in the previous week, compared with expectations for a decrease to 212,000. Q1 GDP growth was recorded at a 2.0% annual rate, compared with expectations for 2.3%.In equities, Alphabet and Amazon shares rose 7.3% and 3.4%, respectively, after the companies reported their Q1 financial results. Eli Lilly (LLY) stock was up 6.1% after the company posted Q1 non-GAAP earnings and revenue that surpassed analysts' consensus and boosted its full-year 2026 guidance.On the losing side, Meta Platforms shares were 8.4% lower, a day after the company said it raised its 2026 capital expenses outlook and reported a decline in its daily active users on a quarter-over-quarter basis. Stellantis (STLA) stock was down 2.6% after the company reported Q1 net revenue that fell short of analysts' estimates. Microsoft shares were down 0.9% despite the company posting a fiscal Q3 adjusted earnings and revenue beat.

Dow JonesNasdaq CompositeS&P 500$AAPL$AMZN$GOOG$GOOGL$LLY$META$MSFT$STLA

Asia Markets143d ago

Tadawul Shares End Week Lower on Geopolitical Jitters, Saudi Quarterly GDP Decline

The Tadawul All Share Index is back in the red, closing 0.45% lower on Thursday, as the threat of another possible escalation of the US-Iran conflict dampened investor sentiment and raised oil prices."The main catalyst for the latest jump in oil prices was a report from Axios, suggesting that an escalation in the conflict was still being considered as an option. And overnight, they've reported that Trump is set to receive a briefing today on potential plans for military action. According to that article, US Central Command had prepared a 'short and powerful' wave of strikes that would aim to break the negotiating deadlock," Deutsche Bank Research said in a note.In other news, and as expected, the US Federal Reserve decided to maintain interest rates at the 3.5% to 3.75% range at its meeting on Wednesday. At a news conference, Chair Jerome Powell disclosed that he will stay as a governor after his term as chair ends on May 15.Back at home, Saudi Arabia's seasonally adjusted real gross domestic product declined 1.5% quarter over quarter in the first quarter of 2026, flash data from the General Authority for Statistics showed.On the corporate front, Sumou Real Estate (SASE:4323) shares ticked up 0.94% as it secured a 36-month project to manage the superstructure development of the 149-villa Al Dhahiya Residence project in Mecca.

^TASISASE:4323

Asia Markets144d ago

UAE Equities Fall; Central Bank Holds Base Rate Steady

Emirati stocks closed Thursday's trading session in the red as investors dissect the US Fed decision, which, as a result, also saw the United Arab Emirates Central Bank keeping its base rate steady.At the close of trading, the FTSE ADX General Index shed 1.237%, while the DFM General Index lost 1.625%.The UAE Central Bank on Wednesday kept the base rate applicable to the overnight deposit facility at 3.65% and the interest rate applicable to borrowing short-term liquidity at 50 basis points above the base rate for all standing credit facilities.The move aligns with the US Federal Reserve's decision to keep the interest rate on reserve balances unchanged, as the Emirati dirham is pegged to the US dollar."In our opinion, the uncertain geopolitical environment may inject more uncertainty into the ultimate path of the federal funds rate. A deepening divide on the Committee shows that a growing number of members favor a more neutral bias supporting our outlook for no federal fund rate changes this year. Ultimately, the economic data will impact the timing of any Fed rate cuts. The Fed stated that the implications of developments in the Middle East for the U.S. economy are contributing to a high level of uncertainty about the economic outlook," the Wells Fargo Investment Institute said in a note.The corporate side of the region saw a fresh batch of first-quarter earnings reports including those from Borouge (ADX:BOROUGE) and NMDC Group (ADX:NMDC), with both companies reporting lower attributable profits. Their stocks closed flat and 3.52% in the red, respectively.Drake & Scull International (DFM:DSI) began the construction phase of the Majan Project in Dubai and aims to finalize it in the first quarter of 2028. Its shares closed the session 1.235% lower.On the geopolitical front, Bloomberg News reported Thursday, citing Axios, that US President Donald Trump will receive a briefing on new military action on Iran, sparking escalation concerns between the two countries.

^DFMGI^FADGIADX:BOROUGEADX:NMDCDFM:DSI

Asia Markets144d ago

US Equity Indexes Close Mixed as Crude Oil, Treasury Yields Jump; Fed Policy Faces Growing Dissent

US equity indexes closed mixed on Wednesday as crude oil futures and government bond yields rose amid concern that no end is in sight for the Iran war.The Federal Open Market Committee maintained its target rate at a policy meeting, but beneath that outcome, the level of dissent was, reportedly, the highest since 1992. Separately, Fed Chair Jerome Powell said he would stay as governor "at least" until the central bank's legal challenges are resolved.The Dow Jones Industrial Average fell 0.6% to 48,861.81 at the close. The S&P 500 slipped less than 0.1% to 7,135.95 while the Nasdaq Composite rose less than 0.1% to 24,673.24. Utilities and materials were among decliners, while energy led the top gainers.President Donald Trump has instructed aides to prepare for an extended blockade of Iran, US officials told The Wall Street Journal. In recent meetings, including a Monday discussion in the Situation Room, Trump opted to continue squeezing Iran's economy and oil exports by preventing shipping to and from its ports, the WSJ reported."The blockade is somewhat more effective than the bombing," Trump told Axios on Wednesday. "They are choking like a stuffed pig. And it is going to be worse for them. They can't have a nuclear weapon."West Texas Intermediate crude oil futures soared 8.3% to $108.19, and Brent crude futures surged 7.8% to $119.95 amid concern that Trump's policy will prolong disruption in the Strait of Hormuz, the chokepoint for 20% of global crude oil flows.In precious metals, gold futures declined 1.1% to $4,557.9 and silver futures slid 2.7% to $71.24, as higher crude oil prices triggered inflation concerns.Most US Treasury yields rose, with the 10-year jumping seven basis points to 4.42% and the two-year catapulting 10.1 basis points to 3.95%.The FOMC maintained its target rate at 3.50% to 3.75%, as expected, but four officials dissented, its statement showed late Wednesday. The Fed, in its statement, maintained language stating the "extent and timing of additional adjustments," which implies a lingering bias toward additional rate cuts, according to a Stifel note."At the very least, the cohort of dissents sends a signal to both the market and new leadership that many agree the data do not support any additional accommodation at this point, and any push to implement such will potentially face fierce opposition," Lindsey Piegza, chief economist at Stifel, said in the note.Fed Governor Stephen Miran again sought a 25-basis-point rate cut. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan supported holding rates steady but "did not support inclusion of an easing bias in the statement at this time," according to the Fed.Chair Powell said he will continue to serve as a Fed Governor after his term as chair ends next month. Powell's term as governor is due to end in January 2028, but he could leave before the expiry. "I will stay until it is appropriate for me to leave."

Dow JonesNasdaq CompositeS&P 500

Asia Markets144d ago

Exchange-Traded Funds Lower as US Equities Fall After Midday

Broad Market IndicatorsBroad-market exchange-traded fund IWM and IVV declined. Actively traded Invesco QQQ Trust (QQQ) edged up 0.1%.US equity indexes traded lower after midday Wednesday as crude oil futures and government bond yields jumped amid concern that Iran's blockade will be extended to force Tehran into a peace deal.EnergyIShares US Energy ETF (IYE) and the State Street Energy Select Sector SPDR (XLE) each added about 1.8%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was up 0.2%; iShares US Technology ETF (IYW) fell 0.2%, and iShares Expanded Tech Sector ETF (IGM) rose fractionally.The State Street SPDR S&P Semiconductor (XSD) climbed up 3.6%, and iShares Semiconductor (SOXX) was up 1.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) eased 0.1%. Direxion Daily Financial Bull 3X Shares (FAS) declined 0.2%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 0.1%.CommoditiesCrude oil rose 6.9%, and the United States Oil Fund (USO) gained 6.9%. Natural gas was down 1.7%, and the United States Natural Gas Fund (UNG) fell 1.8%.Gold on Comex slipped 1%, and the State Street SPDR Gold Shares (GLD) fell 1.1%. Silver declined 1.5%, and iShares Silver Trust (SLV) was down 2.1%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) eased 0.1%. The Vanguard Consumer Staples ETF (VDC) edged lower, and iShares Dow Jones US Consumer Goods (IYK) was 0.1% higher.The State Street Consumer Discretionary Select Sector SPDR (XLY) dipped 0.4%. VanEck Retail ETF (RTH) eased 0.2%, and the State Street SPDR S&P Retail (XRT) was down 0.7%.Health CareThe State Street Health Care Select Sector SPDR (XLV) shed 0.7%, iShares US Healthcare (IYH) fell 0.6%, and Vanguard Health Care ETF (VHT) was 0.7% lower. IShares Biotechnology ETF (IBB) slipped 1.6%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 0.8%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were also lower.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 0.7%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 0.8%, ProShares Ether ETF (EETH) lost 1.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was up 0.2%.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH

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