|Day's range||18,190.27 - 18,465.64|
|52-week range||14,597.31 - 22,700.85|
British Land booted off FTSE 100 while Ocado dodges demotion.
Investing.com -- Most Asian stocks edged higher on Thursday, encouraged by progress towards averting a U.S. debt default, while signs of life in China’s manufacturing sector also helped fish local stocks from six-month lows.
With the U.S. debt ceiling saga nearly over, the state of the global economy hoves back into view - with contrasting interest rate pictures that saw the dollar climb across the board. A deepening contraction of Chinese factory activity this month casts more doubt over the spluttering recovery of the world's second largest economy, while Europe saw some inflation relief as French and German readouts for May mirrored the surprising drop in Spanish inflation seen earlier this week. China's official manufacturing purchasing managers' index unexpectedly fell to 48.8 from 49.2 in April, staying below the 50-point mark that separates expansion from contraction and below a forecast of 49.4.
Investors are anticipating the outcome of US debt vote and digesting the latest economic data from China.
Investing.com -- Hong Kong’s Hang Seng index entered bear market territory on Wednesday, with China-exposed stocks weighing the most as weak economic data from the mainland raised more doubts over a reopening-led recovery this year.
Investing.com -- Asian stocks sank on Wednesday, with Chinese markets leading declines as manufacturing activity shrank for a second straight month, while broader sentiment remained on edge ahead of a vote to raise the U.S. debt ceiling.
Yahoo Finance Live's Rachelle Akuffo discusses China's economy amid the country's COVID recovery, as well as Elon Musk and Jamie Dimon visiting China this week.
Yahoo Finance markets reporter Jared Blikre breaks down the market amid the tentative debt ceiling deal and the upcoming Fed meeting.
Congress is expected to vote on legislation to pass the deal on Wednesday.
European stocks and the U.S. dollar fell, after climbing to a two-month high, on Tuesday as relief that the U.S. government had averted a possible default gave way to concern that the deal could face a rocky path through Congress. But the dollar and European stocks slipped, dented by uncertainty about whether Congress will approve the deal after a handful of hard-right Republican lawmakers said on Monday they would oppose the bill, though it is expected to pass.
Investing.com -- Most Asian stocks retreated on Tuesday as optimism over a deal to raise the U.S. debt ceiling was offset by fears of worsening ties between Beijing and Washington, amid renewed sparring between the two over trade and political sanctions.
US stocks hit a nine-month high on Friday, propelled by solid economic data and growing investor optimism that a deal on the US debt ceiling will land in the coming days. The S&P 500 closed 1.3 per cent higher, its highest level since mid-August, in a relatively broad rally in which investors scooped up stocks more sensitive to economic growth prospects and spurning traditionally defensive sectors such as utilities, healthcare and consumer staples. The benchmark index added 0.3 per cent in the week, notching its second straight week of gains.
NEW YORK/LONDON (Reuters) -Progress on U.S. debt ceiling talks bolstered global equities and sent gold prices to a two-month low on Thursday, as forecast-smashing revenue from chipmaker Nvidia fueled a rally in AI-related companies. Treasury yields were up and the U.S. dollar climbed to its highest level since mid-March. U.S. President Joe Biden and top congressional Republican Kevin McCarthy were edging close to an agreement on the U.S. debt ceiling, according to a person familiar with the talks.
Investing.com -- Most Asian stocks fell on Thursday as fears of a U.S. debt default persisted amid little progress toward raising the debt ceiling, although chipmaking stocks outperformed tracking a robust outlook from Nvidia.
President Biden and House Speaker Kevin McCarthy have still not reached an agreement on how to raise the US government's $31.4 trillion debt ceiling.
US stocks fell on Tuesday as policymakers in Washington struggled to lock in a debt ceiling deal, with less than two weeks left until the government is due to default. Losses accelerated on Wall Street in the afternoon, as the blue-chip S&P 500 closed 1.1 per cent lower, pulled down by technology stocks. The tech-heavy Nasdaq Composite lost 1.3 per cent. In contrast, the KBW regional banking index advanced 0.9 per cent.
US stocks ended Monday on a muted note, with tech shares inching higher, as investors kept a close eye on US debt ceiling negotiations ahead of a meeting between president Joe Biden and House speaker Kevin McCarthy later in the day. Both indices had fallen in the previous session, after US policymakers paused negotiations over the debt ceiling deal — raising concerns that they will fail to reach a compromise ahead of the early-June deadline and trigger an unprecedented default. Biden and McCarthy discussed the debt ceiling issue over the phone on Sunday.
Investing.com -- Most Asian stocks were mixed on Monday as optimism over a potential improvement in U.S.-China relations was largely offset by uncertainty over raising the U.S. debt ceiling as negotiations to avoid a default continued.
Wall Street stocks fell as US policymakers paused negotiations over the debt ceiling deal and nerves over the health of the US regional banking sector returned. Investors on Friday bought short-dated US Treasuries and lowered their expectations that the Federal Reserve would raise interest rates in June after chair Jay Powell warned tighter credit conditions — the result of the turmoil at US banks — may mean the Fed will not have to raise interest rates as high to reach their 2 per cent inflation target. The benchmark S&P 500 closed 0.1 per cent lower on Friday, but gained 1.7 per cent in the week.
Lower inflation and contraction in manufacturing have hit the yuan but stock markets remain undaunted.
Wall Street stocks rose on Thursday after policymakers in Washington said that a bill to raise the US debt ceiling may be put to a vote next week, raising the possibility of a deal to avoid a government default. Both the blue-chip S&P 500 index and the Nasdaq Composite reached their highest levels since August 2022, up 0.9 per cent and 1.5 per cent, respectively.
Traders' appetite for risk was boosted by optimism over an eventual breakthrough for US debt-ceiling talks and Walmart beating expectations.
Investing.com -- Most Asian stock markets rose on Thursday, tracking gains on Wall Street amid optimism that the U.S. debt ceiling will be raised, while gains in Japanese conglomerate Sony boosted the Nikkei to a 20-month high.
The FTSE 100 finished in the red as US debt ceiling talks stalled sparking fears of a US default.
President Joe Biden is set to meet house speaker Kevin McCarthy.