NEW YORK, May 16 ― Wall Street's three major indexes notched record closes yesterday with the benchmark S&P 500 and the Nasdaq both advancing more than 1 per cent, after...
Comms minister says Malaysia has no relations with Hamas’ military wing, slams Meta for removing news reports of PM Anwar’s meeting with Palestinian politicians
Tepid US Consumer Price Index data for April fuelled optimism that inflation was easing after three months of higher-than-expected numbers. This led traders to raise bets that the Fed will cut its policy rate in September and December.“It's a relief we didn't have a fourth hot CPI report,” said Carol Schleif, chief investment officer at the BMO family office in Minneapolis. “Clearly markets liked that the inflation numbers looked softer. Retail sales came in softer.
Among the S&P 500's 11 major industry sector indexes, most gained ground with rate-sensitive technology stocks and real estate outpaced the rest with respective gains of 2.3 per cent and 1.7 per cent.Equities had built on Tuesday's gains, when Fed Chair Jerome Powell's assessment of US growth, inflation and the interest rate outlook reassured investors after hotter-than-expected producer prices for April.
Leading S&P 500 percentage gains was a 15.8 per cent advance in Super Micro Computer Inc, which like Nvidia is seen as a good way to bet on the take-off in demand for artificial intelligence technology. Other meme stocks followed suit with AMC Entertainment dropping 20 per cent and Koss Corp ending down 19.2 per cent.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Wall Street stocks close lower on higher Treasury yields, rate expectationsNEW YORK, April 17 ― Wall Street stocks ended lower in choppy trading yesterday as Treasury yields climbed, with investors weighing the likely path of interest rates in a...
Read more »
Wall Street week ahead: ‘Crowded’ megacap trade in US stocks awaits earnings testNEW YORK, April 19 — Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally,...
Read more »
Wall Street stocks end higher with major corporate earnings in viewNEW YORK, April 23 ― Wall Street stocks ended higher yesterday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key...
Read more »
Bursa Malaysia up in early trade, tracking Wall Street overnightKUALA LUMPUR, April 23 ― Bursa Malaysia opened higher today, taking its cue from Wall Street’s better performance overnight as sentiment improves after Iran said it will not...
Read more »
Nasdaq outshines Wall Street peers on tech boost, earnings gleeNEW YORK, April 24 — The Nasdaq outpaced Wall Street peers today, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports...
Read more »
Wall Street stocks fall as weak GDP growth spreads rate-cut gloomNEW YORK, April 26 — Wall Street stocks closed lower yesterday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled...
Read more »