Stock market today: Stocks rebound in Europe and Japan

Date:

Share post:



After China’s stocks closed out their best week since 2008—and the Shanghai Stock Exchange index posted a 8.06% gain Monday, its biggest jump since 2008—China’s markets closed for Golden Week holidays.

Markets in Japan and Europe picked up the slack though, notching modest gains.

  • S&P 500 Futures: 5,810.75 ⬇️ down 0.06%
  • S&P 500: 5,762.48 ⬆️ up 0.42%
  • Nasdaq Composite: 18,189.17 ⬆️ up 0.38%
  • Dow Jones Industrial Average: 42,330.15 ⬆️ up 0.04% 
  • STOXX Europe 600: 523.94 ⬆️ up 0.20%
  • Nikkei 225: 38,651.97 ⬆️ up 1.93%
  • Bitcoin: $63,939.20 ⬆️ up 1.15%

Japan: Markets recover on positive economic indicators

A day after dropping 4.8% on the election of Shigeru Ishiba to be new prime minister—a choice that was expected to strengthen the yen and make Japanese exports less competitive—the Nikkei 225 rebounded 1.93%. It came after economic indicators showed steady business confidence among large manufacturers as well as falling unemployment. Heavy industry companies Kawasaki and Mitsubishi led the way with gains around 8%.

Europe: Indexes rise slightly as investors digest inflation data.

European stocks notched modest gains, with the STOXX Europe 600 rising 0.20% and the U.K. FTSE 100 stepping up 0.30% in early Monday trading. Investors focused on today’s release of preliminary September inflation data for the Eurozone, which came in at 1.8%—in line with economists’ expectations and below the European Central Bank’s target of 2%. The dovish reading will be seen as boosting the chances for another rate cut from the ECB. Germany’s Covestro led the STOXX with a 3.7% gain in early trading after Abu Dhabi state oil firm ADNOC said that it would buy the chemicals group for €15.9 billion ($17.7 billion).

U.S. pre-market trading treads water as markets await data

All three U.S. indexes tread water in pre-market trading Tuesday, as investors awaited Nike earnings, which come after the closing bell, and the big September jobs report which drops Friday.

The Dow, Nasdaq and S&P 500 take a rollercoaster ride

On Friday, the Dow rose 0.04%—hitting yet another new record—while the S&P 500 rose 0.42% and the tech-heavy Nasdaq added 0.38%. Federal Reserve chair Jerome Powell sent the market on a rollercoaster ride after saying in prepared remarks that the Fed would continue cutting interest rates—but left the timeline open and suggested he wasn’t in a rush as the market is currently “recalibrating.” All three U.S. indexes dropped before and shortly after Powell’s speech, but within a few hours of the Dow’s triple-digit plummet, indexes were in the green again.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Related articles

15 Jobs That Will Shrink the Fastest Over the Next Decade

It’s great to know which jobs are projected to have sky-rocketing growth, but just as important —...

The Rise of Fractional Work and its Benefits to Small Businesses

Fractional workers who offer their expertise to an organization on a part-time or short-term basis are becoming...

Bitcoin Champion Max Keiser Blasts Argentinian President’s Crypto Stance

Argentina and El Salvador, both facing economic struggles, are taking vastly different approaches to cryptocurrency. While El...

BASF settles PFAS ‘forever chemicals’ water contamination lawsuit for $316.5 million

German chemical company BASF said on Tuesday it reached a $316.5 million settlement with some U.S. public...