Latest news with #NYSEArcaAirlineIndex
Business Standard
5 days ago
- Business
- Business Standard
Global Markets Rebound Ahead of G7 Summit and Fed Policy Outlook
Wall Street surges with tech and airline stocks leading gains; Asia and Europe follow suit as traders eye trade talks and interest rate projections. The Nasdaq jumped 294.39 points or 1.5% to 19,701.21, the S&P 500 advanced 56.14 points or 0.9% to 6,033.11 and the Dow climbed 317.30 points or 0.8% at 42,515.09. Wall Street rebounded as traders anticipated the upcoming G7 summit in the Canadian Rockies, hoping for progress on global trade deals. Attention also turned to the nearing end of President Trump's 90-day pause on "reciprocal tariffs." Additionally, the Federal Reserve's policy announcement is expected to offer insights into future interest rate decisions. Airline stocks substantial moved upside after moving sharply lower over the past few sessions, with the NYSE Arca Airline Index soaring by 3.3%. Semiconductor stocks are significantly strong, as reflected by the 3% surge by the Philadelphia Semiconductor Index. Computer hardware, financial and telecom stocks also considerable strength while pharmaceutical and oil service stocks bucked the uptrend. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index jumped by 1.3%, while Hong Kong's Hang Seng Index climbed by 0.7%. The major European markets have also moved to the upside on the day while the U.K.'s FTSE 100 Index rose by 0.3%, the French CAC 40 Index and the German DAX Index both advanced by 0.8%. In the bond market, treasuries are showing a lack of direction following the pullback seen last Friday. The yield on the benchmark ten-year note which moves opposite of its price, is currently down by less than a basis point at 4.41%.
Business Standard
5 days ago
- Business
- Business Standard
Global Markets Tumble Amid Middle East Escalation; Dow Sinks 769 Points, Oil Prices Surge
Rising geopolitical tensions between Israel and Iran, Trump's warning, and sector-wide stock declines fuel market volatility despite upbeat U.S. sentiment data. The Dow plummeted 769.83 points (1.8%) to 42,197.79, the Nasdaq plunged 255.66 points (1.3%) to 19,406.83 and the S&P 500 tumbled 68.29 points (1.1%) to 5,976.97. Israeli airstrikes on Irans nuclear and missile sites killed three senior military leaders, prompting Iran to retaliate with over 100 drones aimed at Israeli territory. The escalation has sparked fears of a broader conflict, pushing crude oil prices higher due to supply concerns. In response, former President Donald Trump urged Iran on Truth Social to strike a nuclear deal before the violence worsens. He warned of greater destruction ahead, calling for an immediate end to the bloodshed. University of Michigan published a report showing a substantial improvement by consumer sentiment in the month of June. The University of Michigan said its consumer sentiment index surged to 60.5 in June after holding at 52.2 in May. Airline stocks turned in some of the market's worst performances on the day, dragging the NYSE Arca Airline Index down by 4.3%. Computer hardware and semiconductor stocks were substantially weak, with the NYSE Arca Computer Hardware and Philadelphia Semiconductor Index plunging by 2.7% and 2.6%. Housing, networking and financial stocks also saw considerable weakness while energy and gold stocks bucked the downtrend. Asia-Pacific stocks moved mostly lower. Japan's Nikkei 225 Index slid by 0.9%, while China's Shanghai Composite Index fell by 0.8%. The major European markets moved downwards while the U.K.'s FTSE 100 Index decreased by 0.4%, the French CAC 40 Index and the German DAX Index slumped by 1% and 1.1%. In the bond market, treasuries gave back ground after moving notably higher over the two previous sessions. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, jumped 6.7 bps to 4.42%.
Business Standard
09-06-2025
- Business
- Business Standard
US Stocks Rally on Strong Jobs Data; Nasdaq Hits Record High
Better thanexpected U.S. job growth in May boosts investor confidence, lifting major indexes and driving gains in airline, oil and financial stocks. The Nasdaq shot up 231.50 points (1.2%) to 19,529.95, the Dow surged 443.13 points (1.1%) to 42,762.87 and the S&P 500 jumped 61.06 points (1%) to 6,000.36. Labor Departments report showed slightly stronger than expected U.S. job growth in the month of May. Also, it mentioned that the non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April. The report said the unemployment rate came in at 4.2% in May, unchanged from the previous month and in line with economist estimates. The modestly bigger than expected increase in employment helped offset concerns about the strength of the economy following some recent downbeat data. Airline stocks substantially moved upwards, with the NYSE Arca Airline Index soaring by 3.2%. A sharp increase by the price of crude oil also contributed to significant strength among oil service stocks, driving the Philadelphia Oil Service Index up by 2.2%. Financial, oil producer and biotechnology stocks also saw considerable strength while gold stocks bucked the uptrend amid a steep drop by the price of the precious metal. Asia-Pacific stocks turned in another mixed performance. Japan's Nikkei 225 Index rose by 0.5%, while Hong Kong's Hang Seng Index fell by 0.5%. The major European markets also ended the day mixed while the German DAX Index edged down by 0.1%, the French CAC 40 Index crept up by 0.2% and the U.K.'s FTSE 100 Index rose by 0.3%. In the bond market, treasuries moved sharply lower in reaction to the better than expected U.S. jobs data. Subsequently, the yield on the benchmark ten-year note which moves opposite of its price, surged 11.6 bps to 4.51%.
Business Standard
28-05-2025
- Business
- Business Standard
Wall Street Soars as Trump Delays EU Tariff, Consumer Confidence Surges
Markets rallied with major indexes posting strong gains, boosted by tariff delay, rising consumer confidence and sector-wide strength in airlines, semiconductors and more. The Nasdaq shot up 461.96 points (2.5%) to 19,199.16, the S&P 500 surged 118.72 points (2.1%) to 5,921.54 and the Dow jumped 740.58 points(1.8%) to 42,343.65. Wall Street rallied after Trump delayed the 50% EU tariff to July 9, 2025, following a request from EU Commission President von der Leyen. He said talks would begin quickly and hoped the EU, like China, would open up to U.S. trade. Conference Board released a report showing a substantial improvement by U.S. consumer confidence in the month of May in response to which a positive sentiment was recorded. It also said its confidence index spiked to 98 in May after plunging to a downwardly revised 85.7 in April. Airline stocks turned in some of the market's best performances on the day, with the NYSE Arca Airline Index soaring by 4.9%. Semiconductor stocks displayed substantial strength, as reflected by the 3.4% spike by the Philadelphia Semiconductor Index. Networking, computer hardware and banking stocks also saw considerable strength, moving higher along with most of the other major sectors. Asia-Pacific stocks region turned in a mixed performance. Japan's Nikkei 225 Index rose by 0.5%while China's Shanghai Composite Index dipped by 0.2%. European stocks moved mostly higher on the day. The German DAX Index advanced by 0.8%and the U.K.'s FTSE 100 Index climbed by 0.7%, although the French CAC 40 Index closed just below the unchanged line. In the bond market, treasuries extended the upward move seen over the two previous sessions. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, tumbled 7.5 bps to 4.43%.
Business Standard
22-05-2025
- Business
- Business Standard
Markets Drop on Rising Yields and Trade Concerns
The Dow fell 1.9% amid surging Treasury yields and fears over a costly tax bill. Airline and banking stocks slumped, while Asia-Pacific markets mostly gained. The 10-year Treasury yield jumped to 4.59% after weak bond auction demand. The Dow plunged 816.80 points (1.9%) to 41,860.44, the S&P 500 slumped 95.85 points (1.6%) to 5,844.61 and the Nasdaq tumbled 270.07 points (1.4%) to 18,872.64. Stocks have rebounded strongly since early April but concerns over stalled trade deals and rising bond yields have pressured markets. The 30-year Treasury yield surpassed 5% amid worries that President Trump's proposed tax and spending bill could add \$2.5 trillion to the deficit. Treasury yields also rose following a \$16 billion twenty-year bond auction with below-average demand, reflected in a bid-to-cover ratio of 2.46 versus the historical average of 2.58. Airline stocks substantially moved downwards, resulting in a 3.7% nosedive by the NYSE Arca Airline Index. Banking stocks were considerably weak, as reflected by the 3.1% slump by the KBW Bank Index. Oil service, housing and commercial real estate stocks saw notable weakness while gold stocks bucked the downtrend amid a continued increase by the price of the precious metal. Asia Pacific stocks moved mostly higher on Wednesday. Hong Kong's Hang Seng Index rose by 0.6% and China's Shanghai Composite Index inched up by 0.2%, although Japan's Nikkei 225 Index bucked the uptrend and fell by 0.6%. The major European markets turned in a mixed performance on the day. While the French CAC 40 Index fell by 0.4%, the U.K.'s FTSE 100 Index inched up by 0.1% and the German DAX Index climbed by 0.4%. In the bond market, treasuries moved sharply lower after ending the previous session roughly flat. As a result, the yield on the benchmark ten-year note which moves opposite of its price, surged 11.5 bps to 4.59%.
