Connect with us

Business

Stock Market Today: Global Stocks Mixed After Tech Stocks Drag Wall Street Lower

Stock Market Today: Global Stocks Mixed After Tech Stocks Drag Wall Street Lower

 


HONG KONG (AP) Global stocks were mixed on Wednesday after technology stocks largely dragged Wall Street lower on Tuesday as investors awaited chipmaker Nvidia's quarterly earnings report.

The report, which will be released later today, will put stock markets in Hong Kong, China and Taiwan on alert, with the three regions contributing more than 45% of Nvidias' third-quarter revenue.

Germany's DAX gained 0.1% to 17,088.95 and the CAC 40 in Paris gained 0.1% to 7,803.29. In London, the FTSE 100 index was down 0.7%, at 7,666.21.

S&P 500 and Dow Jones Industrial Average futures rose 0.2%.

HSBC Holdings said on Wednesday its pre-tax profit rose to a record $30.3 billion in 2023, but fell short of analysts' expectations as revenue growth was offset by the recognition of an impairment charge of 3 billion dollars relating to the investment in a Chinese bank. Hong Kong-listed HSBC shares fell 3.8% in afternoon trading.

Hong Kong's Hang Seng gained 1.6% to 16,503.10, lifted by gains in its technology index, which rose 2.7%. The Shanghai Composite rose almost 1.0% to 2,950.96.

Japan's benchmark Nikkei 225 index lost almost 0.2% to 38,300.00.

Japanese exports rose a larger-than-expected 11.9% in January from a year earlier, driven by strong demand for chipmaking machinery in China and strong gains in exports to the United States and Europe, according to data released Wednesday.

Australia's S&P/ASX 200 index slipped 0.7% to 7,608.40 despite data from the Australian Bureau of Statistics showing the country's wage index rose 4.2% from the same period from the previous year, marking the largest annual increase recorded since the start of 2009.

South Korea's Kospi lost 0.2% to 2,653.31.

On Tuesday, the S&P 500 index fell 0.6%, following only its second week of decline in the last 16 weeks following a holiday Monday.

The Dow Jones Industrial Average fell 0.2% and the Nasdaq composite fell 0.9%.

Technology stocks, particularly chipmakers, were the most detrimental to the market. Nvidia fell 4.4%. It's still the S&P 500's biggest gain so far this year, up about 40%.

At this point, Wall Street is now hoping its first rate cut will come in June, months later than expected. Investors should wait until next week for another key inflation update. That's when the government will release its monthly report on personal consumption and spending, the federal government's preferred measure of inflation.

Investors have a relatively light week when it comes to economic news. Home sales data will be released on Thursday. The real estate market remains tight as demand for housing continues to outstrip supply. Mortgage rates remain high, although they have declined since their most recent peak in late October, when the average rate on a 30-year mortgage was 7.79%.

More than 80% of S&P 500 companies have released their latest results. Analysts surveyed by FactSet expect overall earnings growth of about 3.3% for the fourth quarter and forecast earnings growth of about 3.6% for the current quarter.

In other trading, benchmark U.S. crude lost 36 cents to $76.69 a barrel in electronic trading on the New York Mercantile Exchange. Brent crude, the international standard, fell 36 cents to $81.98 a barrel.

The US dollar fell from 150.01 Japanese yen to 150.10 yen. The euro costs $1.0793, up from $1.0807.

Sources

1/ https://Google.com/

2/ https://www.westernslopenow.com/news/business/ap-stock-market-today-asian-stocks-mixed-after-tech-shares-pull-wall-street-lower/

The mention sources can contact us to remove/changing this article

What Are The Main Benefits Of Comparing Car Insurance Quotes Online

LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos

ExBUlletin

to request, modification Contact us at Here or [email protected]