he Nasdaq Composite and Standard and Poor’s 500 edged up, after hitting intraday all-time highs.
NEW YORK, New York – U.S. stocks were on the defensive Thursday. The Dow Jones index corrected its recent hefty gains, finishing with a more than 300 points loss, while the Nasdaq Composite and Standard and Poor’s 500 edged up, after hitting earlier intraday all-time highs. Better-than-expected results from Alphabet boosted market sentiment.
“Given the size and influence of big tech and [artificial intelligence], I think the Alphabet results were a nice little tailwind for a market that’s constantly asking the question of whether all the AI spend is going to have have solid return on investment]or whether this can continue,” Ross Mayfield, investment strategist at Baird, told CNBC Thursday. “At least at the beginning of earnings season here, Alphabet provided a nice data point that the answer is positive,” he said.
🔹 U.S. Markets
* S&P 500 (^GSPC): 6,363.35 ▲ +4.44 (+0.07 percent)
* Dow Jones (^DJI): 44,693.91 ▼ -316.38 (-0.70 percent)
* Nasdaq (^IXIC): 21,057.96 ▲ +37.94 (+0.18 percent)
* NYSE Composite (^NYA): 20,853.42 ▼ -68.42 (-0.33 percent)
* NYSE American (^XAX): 6,072.89 ▼ -4.96 (-0.08 percent)
* Russell 2000 (^RUT): 2,252.13 ▼ -31.00 (-1.36 percent)
U.S. Dollar Edges Higher as Markets Await Key Economic Data
The U.S. dollar showed modest strength against major currencies in Thursday’s trading session, while the British pound held steady in cautious trading ahead of key economic data releases.
Key Currency Movements
* EUR/USD: The euro inched up 0.04 percent to 1.1751, struggling to find momentum amid mixed Eurozone economic signals.
* USD/JPY: The dollar gained 0.04 percent against the yen, trading at 147.05 as Bank of Japan policy uncertainty weighed on the Japanese currency.
* USD/CAD: The greenback rose 0.09 percent to 1.3645 versus the Canadian dollar as oil price fluctuations influenced the commodity-linked loonie.
* GBP/USD: Sterling held flat at 1.3504, showing no change as traders awaited UK retail sales data.
* USD/CHF: The dollar edged up 0.02 percent to 0.7952 against the Swiss franc in quiet safe-haven trading.
* AUD/USD: The Australian dollar gained 0.05 percent to 0.6592, supported by improved risk sentiment in Asian markets.
* NZD/USD: The New Zealand dollar also rose 0.05 percent to 0.6030, mirroring its Aussie counterpart’s movements.
Market Drivers
Forex markets remained in a holding pattern Thursday as traders awaited Friday’s crucial U.S. PCE inflation data – the Federal Reserve’s preferred price gauge. The dollar’s modest gains reflected:
* Expectations of prolonged higher U.S. interest rates
* Cautious optimism in commodity currencies
* Light trading volumes ahead of key data releases
Analyst Outlook
“Currency markets are clearly in wait-and-see mode,” said Maria Chen, senior FX strategist at Global Markets Capital. “The dollar’s slight firming suggests markets are pricing in a potentially hawkish Fed, but we need to see tomorrow’s inflation numbers for clearer direction.”
Up Next: All eyes turn to Friday’s U.S. core PCE price index and Eurozone inflation figures for fresh trading catalysts.
Global Markets Close Mixed on Thursday; Nikkei Surges Again
Global equities showed a split performance on Thursday. Asian markets were strong, led by Japan’s Nikkei 225, while European and some emerging markets saw modest declines.
🔹Canadian Markets
* S&P/TSX (^GSPTSE): 27,372.26 ▼ -44.15 (-0.16 percent) (Canada)
🔹 UK and European Markets
* FTSE 100 (^FTSE): 9,138.37 ▲ +76.88 (+0.85 percent)
* DAX (^GDAXI): 24,295.93 ▲ +55.11 (+0.23 percent)
* CAC 40 (^FCHI): 7,818.28 ▼ -32.15 (-0.41 percent)
* Euro Stoxx 50 (^STOXX50E): 5,355.20 ▲ +10.95 (+0.20 percent)
* BEL 20 (^BFX): 4,617.32 ▲ +21.10 (+0.46 percent)
🔹 Asia and Pacific Markets
* Nikkei 225 (^N225): 41,826.34 ▲ +655.02 (+1.59 percent) (Japan)
* Hang Seng (^HSI): 25,667.18 ▲ +129.11 (+0.51 percent) (Hong Kong)
* Shanghai Comp. (000001.SS): 3,605.73 ▲ +23.43 (+0.65 percent) (China)
* KOSPI (^KS11): 3,190.45 ▲ +6.68 (+0.21 percent) (South Korea)
* TWSE (^TWII): 23,373.73 ▲ +55.06 (+0.24 percent) (Taiwan)
* S&P/ASX 200 (^AXJO): 8,709.40 ▼ -27.80 (-0.32 percent) (Australia)
* All Ordinaries (^AORD): 8,979.40 ▼ -22.00 (-0.24 percent) (Australia)
* STI Index (^STI): 4,273.05 ▲ +41.77 (+0.99 percent) (Singapore)
* S&P/NZX 50 (^NZ50): 12,814.17 ▲ +9.04 (+0.07 percent) (New Zealand)
* Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India)
* IDX Composite (^JKSE): 7,530.90 ▲ +61.67 (+0.83 percent) (Indonesia)
* KLSE (^KLSE): 1,540.32 ▲ +10.53 (+0.69 percent) (Malaysia)
🔹 Latin American Markets
* Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India)
* Bovespa (^BVSP): 133,807.59 ▼ -1,560.67 (-1.15 percent) (Brazil)
* IPC Mexico (^MXX): 57,035.90 ▲ +557.00 (+0.99 percent) (Mexico)
* S&P IPSA (^IPSA): 8,141.82 ▲ +1.12 (+0.01 percent) (Chile)
* MERVAL (^MERV): 2,135,086.50 ▲ +51,409.38 (+2.47 percent) (Argentina)
🔹 Middle East Markets
* TA-125 (^TA125.TA): 3,115.02 ▼ -37.44 (-1.19 percent) (Israel)
* EGX 30 (^CASE30): 34,125.10 ▲ +321.80 (+0.95 percent) (Egypt)
🔹 African Markets
* Top 40 (^JN0U.JO): 5,636.77 ▼ -24.61 (-0.43 percent) (South Africa)
🔸 Market Summary
* Biggest Gainers: Nikkei 225 (+1.59 percent), MERVAL (+2.47 percent)
* Biggest Decliners: Russell 2000 (-1.36 percent), Bovespa (-1.15 percent)
* Mixed Signals: Tech lifted Nasdaq, but Dow fell on economic concerns.
* Asia Strong: Japan led gains, while India and Australia dipped slightly.
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