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3 themes that drove stocks to another week of records — and a banner month
Stocks soared to record highs again last week, capping off a banner month for the market. Investor optimism about an end to the Iran-U.S. war, a string of positive corporate earnings reports, and strength in technology stocks led to new records for the S & P 500 and Nasdaq Composite , up over 1% and more than 2%, respectively, during the holiday-shortened trading week. That brought the weekly winning streak for the S & P 500 to nine, while the Nasdaq has been up eight out of the past nine weeks.
S&P 500 sees $1.8 trillion wipeout, Nasdaq tallies biggest point drop on record. Here’s what investors need to know about Friday’s selloff.
A remarkable two-month sprint higher for major stock-market indexes encountered its first major hiccup on Friday as the Nasdaq Composite plummeted more than 1,121 points — the biggest one day point drop on record, according to Dow Jones Market Data.
Instant View: Anthropic IPO filing ratifies Wall Street's AI obsession
Instant View: Anthropic IPO filing ratifies Wall Street's AI obsession NEW YORK, June 1 : AI giant Anthropic said on Monday it has confidentially filed for a U.S. initial public offering, teeing up a watershed moment for Wall Street's AI frenzy. Tech stocks continue to lead the Nasdaq Composite and S&P 500 in a record-breaking market rally, while Elon Musk's SpaceX is set to price its IPO this month and Anthropic rival OpenAI, led by Sam Altman, is waiting on deck. U.S. stocks were mixed on...
Explainer-Why SpaceX faces a longer wait to join S&P 500
Explainer-Why SpaceX faces a longer wait to join S&P 500 June 5 : SpaceX's entry into the S&P 500 will take longer after S&P Dow Jones Indices declined to relax rules for megacap IPOs, delaying billions in passive fund inflows from the potential inclusion. The decision keeps several barriers intact. To join the S&P 500, a company must trade publicly for at least 12 months, be profitable under U.S. accounting standards and hold a free float of at least 10 per cent.
Oil prices climb as Israel expands military operation in Lebanon
Oil prices rose on Monday morning after Israel stepped up its military operation in Lebanon. Crude prices climbed in early Asian trading on Monday after Israeli troops pushed further into Lebanon over the weekend, fuelling investor fears that the broader Middle East conflict could escalate rather than move towards a peace deal. At the time of writing, West Texas Intermediate (WTI) crude was up 2.88% at $89.88 per barrel, while Brent crude rose 2.43% to $93.33 per barrel.
Asia-Pacific markets set to open subdued after Wall Street's AI-linked stocks slide
Asia-Pacific markets were set to open mixed Friday after a rotation out of chip stocks on Wall Street lifted the Dow Jones Industrial Average to a record close overnight. The Chicago futures contract for Japan's Nikkei 225 was at 67,450 and its Osaka counterpart last traded at 67,610 compared with the index's previous close of 67,470.69. Hong Kong's Hang Seng index futures last traded at 25,158, lower than the index's Thursday close of 25,253.40.
Asian shares mostly slip as latest fighting undermines the US-Iran ceasefire.
Asian shares mostly slip as latest fighting undermines the US-Iran ceasefire. Asian shares are mostly lower as renewed fighting threatens the U.S.-Iran ceasefire - Bookmark Asian shares mostly declined Tuesday as renewed fighting threatened the U.S.-Iran ceasefire. U.S. futures also fell.
Japan's Nikkei hits record high as Asia markets rise amid Middle East concerns
Asia-Pacific markets opened higher Wednesday, with Japan's Nikkei 225 hitting a record high, as investors appeared to look past uncertainty over U.S.-Iran negotiations aimed at ending the Middle East conflict. Tensions have escalated between Washington and Tehran, with Secretary of State Marco Rubio saying on Tuesday that Iran has mined "large segments" of the Strait of Hormuz. "They're firing on commercial ships and they've mined large segments of Hormuz — international waters," Rubio told...
Asia-Pacific markets set to open lower on renewed Middle East tensions
Asia-Pacific markets were set to open lower Thursday, tracking Wall Street losses, as tensions between Iran and the U.S. keep oil prices elevated, stoking energy and inflation worries. The Kuwait International Airport was struck by Iran early Wednesday, just a day after the U.S. Central Command said it had defeated multiple Iranian ballistic missiles and drones, as well as launched "self-defense strikes" on Qeshm Island in the Persian Gulf. This was in response to "attempted attacks" by...
Asia chip-linked shares recover after U.S. peers bounce back
Asian technology stocks rebounded Tuesday, tracking Wall Street's gains, as investors returned to artificial intelligence-linked names. South Korean memory chip giant SK Hynix climbed 6.44%, while Samsung Electronics gained 3.38%. Seoul Semiconductor jumped over 12%.