- Akira Ito
- 15 Jan, 2025
- Tokyo
Stock market indexes in Tokyo traded mixed after falling in the previous four sessions in a row amid shifting geopolitical and trade scenarios.
The Nikkei 225 stock average decreased 0.3%, but the broader TOPIX rose 0.2%, and investors debated the domestic inflation outlook amid rising speculation that the BoJ is likely to hike its annual estimate.
The yen hovered near multi-month low against the U.S. dollar and bounded around 157.50 as investors speculated that the Bank of Japan is not likely to raise rates over the next two policy meetings.
Benchmark indexes opened higher after the U.S. producer price inflation in December was cooler than expected, but the core rate of inflation accelerated to an annual rate of 3.5%.
On Wednesday, the U.S. consumer price inflation is scheduled to be released, and investors are anticipating the overall inflation to accelerate to 2.9% in December from 2.5% in the previous month.
Closer to home, Japan's business sentiment among large manufacturing companies improved to +2 in January from -1 in December, according to the Reuters Tankan survey released on Wednesday.
The rebound in global demand lifted the business sentiment in oil refining, materials, steel, and chemical industries.
Japan Stock Movers
The Nikkei 225 Stock Average decreased 0.3% to 38,366.03, but the broader TOPIX rose 0.2% to 2,686.68.
Tech stocks, retailers, and financial services companies dominated trading in Tokyo.
Tokyo Electron decreased 1.7% to ¥25,585.0, Advantest Corp. fell 3.9% to ¥9,057.0, Lastertec eased 2.2% to ¥14,600, and Softbank Group closed down 0.1% to ¥8,995.
Seven & I Holdings gained 1% to ¥2,446.50, Takashimaya increased 0.1% to ¥1,228.0, and Isetan Mitsukoshi Holdings decreased 0.1% to ¥2,442.0.
Mitsubishi UFJ Financial jumped 1.8% to ¥1,892.50, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,801.0, and Mizuho Financial Group increased 3.5% to ¥3,979.0.
Panasonic Holdings Corp. gained 0.6% to ¥1,557.0, Sony Group Corp. increased 1.6% to ¥3,206.0, Canon Inc. decreased 0.5% to ¥4,921.0, and Murata Manufacturing Company declined 1.1% to ¥2,469.0.
- Akira Ito
- 15 Jan, 2025
- Tokyo
Stock market indexes in Tokyo traded mixed after falling in the previous four sessions in a row amid shifting geopolitical and trade scenarios.
The Nikkei 225 stock average decreased 0.3%, but the broader TOPIX rose 0.2%, and investors debated the domestic inflation outlook amid rising speculation that the BoJ is likely to hike its annual estimate.
The yen hovered near multi-month low against the U.S. dollar and bounded around 157.50 as investors speculated that the Bank of Japan is not likely to raise rates over the next two policy meetings.
Benchmark indexes opened higher after the U.S. producer price inflation in December was cooler than expected, but the core rate of inflation accelerated to an annual rate of 3.5%.
On Wednesday, the U.S. consumer price inflation is scheduled to be released, and investors are anticipating the overall inflation to accelerate to 2.9% in December from 2.5% in the previous month.
Closer to home, Japan's business sentiment among large manufacturing companies improved to +2 in January from -1 in December, according to the Reuters Tankan survey released on Wednesday.
The rebound in global demand lifted the business sentiment in oil refining, materials, steel, and chemical industries.
Japan Stock Movers
The Nikkei 225 Stock Average decreased 0.3% to 38,366.03, but the broader TOPIX rose 0.2% to 2,686.68.
Tech stocks, retailers, and financial services companies dominated trading in Tokyo.
Tokyo Electron decreased 1.7% to ¥25,585.0, Advantest Corp. fell 3.9% to ¥9,057.0, Lastertec eased 2.2% to ¥14,600, and Softbank Group closed down 0.1% to ¥8,995.
Seven & I Holdings gained 1% to ¥2,446.50, Takashimaya increased 0.1% to ¥1,228.0, and Isetan Mitsukoshi Holdings decreased 0.1% to ¥2,442.0.
Mitsubishi UFJ Financial jumped 1.8% to ¥1,892.50, Sumitomo Mitsui Financial Group advanced 2.4% to ¥3,801.0, and Mizuho Financial Group increased 3.5% to ¥3,979.0.
Panasonic Holdings Corp. gained 0.6% to ¥1,557.0, Sony Group Corp. increased 1.6% to ¥3,206.0, Canon Inc. decreased 0.5% to ¥4,921.0, and Murata Manufacturing Company declined 1.1% to ¥2,469.0.
- Li Chen
- 15 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong lacked direction amid domestic economic uncertainties and a lack of progress in the property market.
The Hang Seng index increased 0.2%, but the mainland-focused CSI 300 index decreased 0.4% as investors worried that the persistent weakness in the property market is likely to overshadow the strength in exports.
Investors are looking ahead to the release of fourth quarter economic growth data on Friday, and economists are anticipating a slight rebound following a string of stimulus measures announced in September.
GDP growth in the fourth quarter is estimated to accelerate to 5.0% from 4.6% in the September quarter, according to an informal survey of seven economists in Beijing, Shanghai, and Hong Kong conducted by Ticker.com.
China Stock Movers
The Hang Seng index added 0.2% to 19,256.92, and the mainland-focused index decreased 0.4% to 3,804.78.
China Merchants Bank advanced 3.2% to HK $41.20 after the company reported a rise in profit in 2024.
Zijin Mining Group decreased 5.2% to HK $14.58 after the gold mining company was added to a U.S. blacklist for its alleged involvement in forced labor activities linked to the Uygur ethnic minority.
Country Garden Holdings Co. Ltd reported a loss of 12.8 billion yuan in the first half of 2024 following a record loss of 178.4 billion yuan in 2023.
Country Garden remains suspended from trading since March 28, 2024, and last traded at HK $0.49.
Three companies listed their shares on exchanges, with one listed on the Hong Kong Stock Exchange.
Beijing Saimo Technology edged up slightly from its initial public offering price of HK $13 per share after the company listed its stock on the Hong Kong Stock Exchange.
The simulation and validation tools developer sold 145 million shares and priced its shares near the bottom end of its filing range between HK $12 and HK $18 per share and raised about HK $420 million, or $54 million.
Scantech soared more than 200% on the first day of trading in Shanghai after the three-dimensional visual digital products maker raised 569 million yuan through its initial public offering.
The company sold its 33 million shares and priced its offering at 33.46 per share.
Yangzhou Huitong Technology soared more than three-fold on the first day of trading after the chemical company completed its initial public offering.
Yangzhou Huitong traded at 50.10 yuan after the equipment maker for polymers priced its offering at 11.80 yuan per share.
- Li Chen
- 15 Jan, 2025
- Hong Kong
Stock market indexes in China and Hong Kong lacked direction amid domestic economic uncertainties and a lack of progress in the property market.
The Hang Seng index increased 0.2%, but the mainland-focused CSI 300 index decreased 0.4% as investors worried that the persistent weakness in the property market is likely to overshadow the strength in exports.
Investors are looking ahead to the release of fourth quarter economic growth data on Friday, and economists are anticipating a slight rebound following a string of stimulus measures announced in September.
GDP growth in the fourth quarter is estimated to accelerate to 5.0% from 4.6% in the September quarter, according to an informal survey of seven economists in Beijing, Shanghai, and Hong Kong conducted by Ticker.com.
China Stock Movers
The Hang Seng index added 0.2% to 19,256.92, and the mainland-focused index decreased 0.4% to 3,804.78.
China Merchants Bank advanced 3.2% to HK $41.20 after the company reported a rise in profit in 2024.
Zijin Mining Group decreased 5.2% to HK $14.58 after the gold mining company was added to a U.S. blacklist for its alleged involvement in forced labor activities linked to the Uygur ethnic minority.
Country Garden Holdings Co. Ltd reported a loss of 12.8 billion yuan in the first half of 2024 following a record loss of 178.4 billion yuan in 2023.
Country Garden remains suspended from trading since March 28, 2024, and last traded at HK $0.49.
Three companies listed their shares on exchanges, with one listed on the Hong Kong Stock Exchange.
Beijing Saimo Technology edged up slightly from its initial public offering price of HK $13 per share after the company listed its stock on the Hong Kong Stock Exchange.
The simulation and validation tools developer sold 145 million shares and priced its shares near the bottom end of its filing range between HK $12 and HK $18 per share and raised about HK $420 million, or $54 million.
Scantech soared more than 200% on the first day of trading in Shanghai after the three-dimensional visual digital products maker raised 569 million yuan through its initial public offering.
The company sold its 33 million shares and priced its offering at 33.46 per share.
Yangzhou Huitong Technology soared more than three-fold on the first day of trading after the chemical company completed its initial public offering.
Yangzhou Huitong traded at 50.10 yuan after the equipment maker for polymers priced its offering at 11.80 yuan per share.
- Arun Goswami
- 15 Jan, 2025
- Mumbai
Benchmark indexes traded higher ahead of the pickup in the release of quarterly results.
Consumer price inflation eased to a four-month low, but the wholesale price inflation accelerated in December.
The Sensex index increased by 0.3% to 76,703.71, and the Nifty index advanced by 0.2% to 23,219.30.
On the Mumbai stock exchange, 36 stocks traded at their 52-week highs, and 50 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.88%, and the Indian rupee traded around a record low of 86.53 against the U.S. dollar.
HDFC Asset Management Company Ltd. jumped 0.72% to ₹3,863.70 after the company reported fiscal third quarter results.
Consolidated revenue in the December quarter increased to ₹1,027.72 crore from ₹814.18 crore, after-tax profit rose to ₹641.36 crore from ₹487.92 crore, and diluted earnings per share jumped to ₹29.90 from ₹22.82 a year ago.
Network18 Media & Investments Ltd. increased 2.6% to ₹61.49 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹1,442.55 crore from ₹1,930.38 crore, after-tax losses expanded to ₹1,399.91 crore from ₹102.31 crore, and diluted losses per share expanded to 6 paisa from 39 paisa a year ago.
Shoppers Stop Ltd. increased 2.5% to ₹620.85 after the company said profit soared 42% in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹1,402.0 crore from ₹1,240.9 crore, net income jumped to ₹52.2 crore from ₹36.9 crore, and diluted earnings per share rose to ₹4.72 from ₹3.33 a year ago.
Hathway Cable & Datacom Ltd. increased 4.9% to ₹15.26 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹532.1 crore from ₹535.3 crore, after-tax profit fell to ₹13.5 crore from ₹22.4 crore, and diluted earnings per share dropped to 8 paisa from 13 paise a year ago.
Anand Rathi Wealth Ltd. declined 0.86% to ₹ 3978.9 after the company reported December quarter results.
Consolidated revenue in the fiscal third quarter increased to ₹244.20 crore from ₹187.26 crore, net income rose to ₹77.30 crore from ₹58.04 crore, and diluted earnings per share increased to ₹18.58 from ₹13.87 a year ago.
Marathon Nextgen Realty Ltd. decreased 1.1% to ₹611.30 after the company reported a decline in revenue in the December quarter.
Consolidated revenue in the fiscal third quarter declined to ₹61.28 crore from ₹123.41 crore, net income rose to ₹34.84 crore from ₹28.58 crore, and diluted earnings per share increased to ₹6.80 from ₹5.82 a year ago.
- Arun Goswami
- 15 Jan, 2025
- Mumbai
Benchmark indexes traded higher ahead of the pickup in the release of quarterly results.
Consumer price inflation eased to a four-month low, but the wholesale price inflation accelerated in December.
The Sensex index increased by 0.3% to 76,703.71, and the Nifty index advanced by 0.2% to 23,219.30.
On the Mumbai stock exchange, 36 stocks traded at their 52-week highs, and 50 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.88%, and the Indian rupee traded around a record low of 86.53 against the U.S. dollar.
HDFC Asset Management Company Ltd. jumped 0.72% to ₹3,863.70 after the company reported fiscal third quarter results.
Consolidated revenue in the December quarter increased to ₹1,027.72 crore from ₹814.18 crore, after-tax profit rose to ₹641.36 crore from ₹487.92 crore, and diluted earnings per share jumped to ₹29.90 from ₹22.82 a year ago.
Network18 Media & Investments Ltd. increased 2.6% to ₹61.49 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹1,442.55 crore from ₹1,930.38 crore, after-tax losses expanded to ₹1,399.91 crore from ₹102.31 crore, and diluted losses per share expanded to 6 paisa from 39 paisa a year ago.
Shoppers Stop Ltd. increased 2.5% to ₹620.85 after the company said profit soared 42% in the fiscal third quarter.
Consolidated revenue in the December quarter increased to ₹1,402.0 crore from ₹1,240.9 crore, net income jumped to ₹52.2 crore from ₹36.9 crore, and diluted earnings per share rose to ₹4.72 from ₹3.33 a year ago.
Hathway Cable & Datacom Ltd. increased 4.9% to ₹15.26 after the company reported December quarter results.
Consolidated revenue in the December quarter decreased to ₹532.1 crore from ₹535.3 crore, after-tax profit fell to ₹13.5 crore from ₹22.4 crore, and diluted earnings per share dropped to 8 paisa from 13 paise a year ago.
Anand Rathi Wealth Ltd. declined 0.86% to ₹ 3978.9 after the company reported December quarter results.
Consolidated revenue in the fiscal third quarter increased to ₹244.20 crore from ₹187.26 crore, net income rose to ₹77.30 crore from ₹58.04 crore, and diluted earnings per share increased to ₹18.58 from ₹13.87 a year ago.
Marathon Nextgen Realty Ltd. decreased 1.1% to ₹611.30 after the company reported a decline in revenue in the December quarter.
Consolidated revenue in the fiscal third quarter declined to ₹61.28 crore from ₹123.41 crore, net income rose to ₹34.84 crore from ₹28.58 crore, and diluted earnings per share increased to ₹6.80 from ₹5.82 a year ago.
- Alexander Garcia
- 14 Jan, 2025
- Miami
Stock market indexes lacked direction after the release of the producer price inflation report, as investors looked for clues about the inner workings of the economy.
Investors have been on the defensive after two jobs reports last week confirmed that the jobs market is expanding at a faster-than-anticipated pace, signaling that the U.S. economy is on track to continue to grow at a healthier pace.
The S&P 500 index decreased 0.4%, the Nasdaq Composite fell 0.5%, and the yield on the 10-year Treasury note halted its surge after the producer price index rose less than expected in December.
The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday.
On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%.
Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month.
Investors now shifted their attention to the release of the consumer price inflation report on Wednesday, which could provide deeper insights into the policymakers' options on rate policy.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.3% to 5,817.19, the Nasdaq Composite fell 0.4% to 19,001.16, and the Russell 2000 index inched up by 0.6% to 2,207.43.
The yield on 2-year Treasury notes edged higher to 4.41%, 10-year Treasury notes inched up to 4.79%, and 30-year Treasury bonds increased to 4.98%.
WTI crude oil decreased $1.20 to $77.60 a barrel, and natural gas prices edged down 4 cents to $3.88 a thermal unit.
Gold increased by $4.92 to $2,672.85 an ounce, and silver rose by $0.19 to $29.87.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 109.68 and traded at a two-year high.
U.S. Stock Movers
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
European Stock Markets Attempted, Euro Hovers Near 2-Year Low
European stock market indexes advanced, and bond yields hovered near recent highs amid ongoing rate path uncertainties and political turmoil in France and Germany.
Benchmark indexes in Frankfurt, Paris, Milan, and London rebounded from losses in the previous session as investors awaited the release of the U.S. trade policy.
In the absence of domestic economic news, investors debated the possible rate paths and the impact of new and tougher U.S. sanctions on Russia's energy, shipping, and insurance companies.
The euro and the pound hovered near two-year lows amid reduced expectations of additional rate cuts by the U.S. Federal Reserve, boosting the U.S. dollar.
Moreover, a sluggish economic outlook in the eurozone is likely to keep the European Central Bank on track to lower its reference rate between 100 and 150 basis points over the next six months.
Europe Indexes and Yields
The DAX index increased by 0.8% to 20,261.33; the CAC-40 index rose by 0.2% to 7,425.17; and the FTSE 100 index inched lower by 0.3% to 8,201.54.
The yield on 10-year German bonds edged higher to 2.59%, French bonds rose to 3.45%, the UK gilts increased to 4.87%, and Italian bonds edged lower to 3.80%.
The euro edged lower to $1.02; the British pound inched lower to $1.214; and the U.S. dollar eased to 91.60 Swiss cents.
Brent crude decreased $1.13 to $79.87 a barrel, and the Dutch TTF natural gas fell by €1.22 to €47.05 per MWh.
Europe Stock Movers
Ocado Group PLC gained 9.4% to 295.30 pence after the UK-based online grocery portal operator and grocery technology company reported a 17.5% surge in quarterly revenue.
Retail revenue increased by 17.5% to £715.8 million from £609.4 million, driven by a 16.9% increase in weekly orders to 476,000 from 407,000 a year ago.
The number of active customers increased 12.1% to 1.1 million from 0.998 million, the average item price was nearly unchanged at £2.75, and average basket value rose 0.2% to £120.85 from £120.62 a year ago.
The company estimated fiscal year 2024 ending on December 1 revenue increased 13.9% to £2.69 billion, and the retailer reiterated its target of reaching "high mid single-digit adjusted EBITDA margin by the end of the first half.
JD Sports Fashion PLC decreased 8.6% to 87.94 pence after the specialty retailer issued a profit warning.
The company said organic comparable sales in December increased 3.4%, but comparable sales over the two-month period to December decreased 1.5% amid "current headwinds" in the market.
The retailer held out for full-year organic revenue growth of 5%, and the company said it will release full financial statements in March.
JD Sports estimated pre-tax earnings before adjustments to range between £915 million and £935 million, and full-year gross margins are expected to be around 48%, matching the level in the year ago.
Nikkei 225 Index Down 2% Amid Rate Path and Inflation Anxieties
Stock market indexes in Tokyo traded sharply lower after investors returned from a holiday-extended weekend.
The Nikkei 225 stock average fell 2%, and the TOPIX index declined 1.3%, and the market pullback was in line with global market weakness after the stronger-than-expected U.S. jobs growth in December lowered speculation of additional rate cuts by the U.S. Federal Reserve.
Moreover, investors took a cautious view amid growing speculation that the Bank of Japan is likely to revise its estimate of inflation at this month's policy meeting, paving the way for future rate hikes.
Japan Stock Movers
The Nikkei 225 Stock Average declined 2.1% to 38,400.09, and the broader TOPIX index decreased 1.3% to 2,679.44.
Technology stocks led the decliners in Tokyo trading following sharp losses in New York in the previous two sessions.
Tokyo Electron declined 3.8% to ¥26,010.0, Advantest Corp. dropped 8.7% to ¥9,474.0, and Disco Corp. decreased 7.5% to ¥44,460.0.
The yen traded around 157.65 against the U.S. dollar, as the world's reserve currency continued to advance for the second month in a row amid rising U.S. bond yields.
Mitsubishi UFJ Financial Group declined 2.6% to ¥1,854.50, Sumitomo Mitsui Financial decreased 1.3% to ¥3,706.0, and Mizuho Financial Group eased 1.2% to ¥3,838.0.
Fast Retailing Co. Ltd. decreased 2.4% to ¥47,530.0, Seven & I Holdings fell 2.5% to ¥2,429.0, Isetan Mitsukoshi declined 2.2% to ¥2,440.50, and Takashimaya Co. Ltd. eased 0.9% to ¥1,226.0.
China Indexes Rebounded 2% After CSRC Vowed to Stabilize Markets
Stock market indexes in China and Hong Kong rebounded from multi-month lows after China's securities regulator talked up the market amid promises of steps to stabilize markets.
The Hang Seng index increased 1.4%, and the CSI 300 index advanced 2% following a statement released by the China Securities Regulatory Commission after a conference.
Chinese officials are playing an age-old game of taking up markets while struggling to devise structural reform as top political leaders struggle to adjust to slower economic growth in the years ahead.
Chinese politicians have shown little interest in tackling deep-rooted structural economic reforms, local government corruption amid falling foreign direct investments, and persistent weakness in property markets.
Investors have generally looked beyond record exports and trade surpluses in December and 2024, because the rise in sales has not translated to a corresponding increase in earnings.
Investors are bracing for weak earnings growth in the December quarter and dialing down 2025 earnings growth expectations amid decelerating economic growth and ongoing property market malaise.
China Stock Movers
The Hang Seng index increased 1.4% to 19,145.88, and the mainland-focused CSI 300 index jumped 2% to 3,796.97.
Wuxi AppTec Co. Ltd. increased 3.4% to ¥54.99 after the biotech company sold 86 million shares in a Cayman Islands-registered unit for HK $2.4 billion or $312 million.
WuXi Biologics jumped 5.4% to HK $17.78 after the release of stake sale news.
BYD increased 3.9% to HK $259.0, Li Auto advanced 2.9% to HK $87.75, and Xpeng Inc. increased 6.4% to HK $49.60.
Alibaba Group Holding increased 1.8% to HK $79.50, Tencent Holdings advanced 3.4% to HK $378.60, and Baidu Inc. gained 2.7% to HK $77.55.
- Alexander Garcia
- 14 Jan, 2025
- Miami
Stock market indexes lacked direction after the release of the producer price inflation report, as investors looked for clues about the inner workings of the economy.
Investors have been on the defensive after two jobs reports last week confirmed that the jobs market is expanding at a faster-than-anticipated pace, signaling that the U.S. economy is on track to continue to grow at a healthier pace.
The S&P 500 index decreased 0.4%, the Nasdaq Composite fell 0.5%, and the yield on the 10-year Treasury note halted its surge after the producer price index rose less than expected in December.
The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday.
On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%.
Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month.
Investors now shifted their attention to the release of the consumer price inflation report on Wednesday, which could provide deeper insights into the policymakers' options on rate policy.
U.S. Indexes and Treasury Yields
The S&P 500 index decreased 0.3% to 5,817.19, the Nasdaq Composite fell 0.4% to 19,001.16, and the Russell 2000 index inched up by 0.6% to 2,207.43.
The yield on 2-year Treasury notes edged higher to 4.41%, 10-year Treasury notes inched up to 4.79%, and 30-year Treasury bonds increased to 4.98%.
WTI crude oil decreased $1.20 to $77.60 a barrel, and natural gas prices edged down 4 cents to $3.88 a thermal unit.
Gold increased by $4.92 to $2,672.85 an ounce, and silver rose by $0.19 to $29.87.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 109.68 and traded at a two-year high.
U.S. Stock Movers
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
European Stock Markets Attempted, Euro Hovers Near 2-Year Low
European stock market indexes advanced, and bond yields hovered near recent highs amid ongoing rate path uncertainties and political turmoil in France and Germany.
Benchmark indexes in Frankfurt, Paris, Milan, and London rebounded from losses in the previous session as investors awaited the release of the U.S. trade policy.
In the absence of domestic economic news, investors debated the possible rate paths and the impact of new and tougher U.S. sanctions on Russia's energy, shipping, and insurance companies.
The euro and the pound hovered near two-year lows amid reduced expectations of additional rate cuts by the U.S. Federal Reserve, boosting the U.S. dollar.
Moreover, a sluggish economic outlook in the eurozone is likely to keep the European Central Bank on track to lower its reference rate between 100 and 150 basis points over the next six months.
Europe Indexes and Yields
The DAX index increased by 0.8% to 20,261.33; the CAC-40 index rose by 0.2% to 7,425.17; and the FTSE 100 index inched lower by 0.3% to 8,201.54.
The yield on 10-year German bonds edged higher to 2.59%, French bonds rose to 3.45%, the UK gilts increased to 4.87%, and Italian bonds edged lower to 3.80%.
The euro edged lower to $1.02; the British pound inched lower to $1.214; and the U.S. dollar eased to 91.60 Swiss cents.
Brent crude decreased $1.13 to $79.87 a barrel, and the Dutch TTF natural gas fell by €1.22 to €47.05 per MWh.
Europe Stock Movers
Ocado Group PLC gained 9.4% to 295.30 pence after the UK-based online grocery portal operator and grocery technology company reported a 17.5% surge in quarterly revenue.
Retail revenue increased by 17.5% to £715.8 million from £609.4 million, driven by a 16.9% increase in weekly orders to 476,000 from 407,000 a year ago.
The number of active customers increased 12.1% to 1.1 million from 0.998 million, the average item price was nearly unchanged at £2.75, and average basket value rose 0.2% to £120.85 from £120.62 a year ago.
The company estimated fiscal year 2024 ending on December 1 revenue increased 13.9% to £2.69 billion, and the retailer reiterated its target of reaching "high mid single-digit adjusted EBITDA margin by the end of the first half.
JD Sports Fashion PLC decreased 8.6% to 87.94 pence after the specialty retailer issued a profit warning.
The company said organic comparable sales in December increased 3.4%, but comparable sales over the two-month period to December decreased 1.5% amid "current headwinds" in the market.
The retailer held out for full-year organic revenue growth of 5%, and the company said it will release full financial statements in March.
JD Sports estimated pre-tax earnings before adjustments to range between £915 million and £935 million, and full-year gross margins are expected to be around 48%, matching the level in the year ago.
Nikkei 225 Index Down 2% Amid Rate Path and Inflation Anxieties
Stock market indexes in Tokyo traded sharply lower after investors returned from a holiday-extended weekend.
The Nikkei 225 stock average fell 2%, and the TOPIX index declined 1.3%, and the market pullback was in line with global market weakness after the stronger-than-expected U.S. jobs growth in December lowered speculation of additional rate cuts by the U.S. Federal Reserve.
Moreover, investors took a cautious view amid growing speculation that the Bank of Japan is likely to revise its estimate of inflation at this month's policy meeting, paving the way for future rate hikes.
Japan Stock Movers
The Nikkei 225 Stock Average declined 2.1% to 38,400.09, and the broader TOPIX index decreased 1.3% to 2,679.44.
Technology stocks led the decliners in Tokyo trading following sharp losses in New York in the previous two sessions.
Tokyo Electron declined 3.8% to ¥26,010.0, Advantest Corp. dropped 8.7% to ¥9,474.0, and Disco Corp. decreased 7.5% to ¥44,460.0.
The yen traded around 157.65 against the U.S. dollar, as the world's reserve currency continued to advance for the second month in a row amid rising U.S. bond yields.
Mitsubishi UFJ Financial Group declined 2.6% to ¥1,854.50, Sumitomo Mitsui Financial decreased 1.3% to ¥3,706.0, and Mizuho Financial Group eased 1.2% to ¥3,838.0.
Fast Retailing Co. Ltd. decreased 2.4% to ¥47,530.0, Seven & I Holdings fell 2.5% to ¥2,429.0, Isetan Mitsukoshi declined 2.2% to ¥2,440.50, and Takashimaya Co. Ltd. eased 0.9% to ¥1,226.0.
China Indexes Rebounded 2% After CSRC Vowed to Stabilize Markets
Stock market indexes in China and Hong Kong rebounded from multi-month lows after China's securities regulator talked up the market amid promises of steps to stabilize markets.
The Hang Seng index increased 1.4%, and the CSI 300 index advanced 2% following a statement released by the China Securities Regulatory Commission after a conference.
Chinese officials are playing an age-old game of taking up markets while struggling to devise structural reform as top political leaders struggle to adjust to slower economic growth in the years ahead.
Chinese politicians have shown little interest in tackling deep-rooted structural economic reforms, local government corruption amid falling foreign direct investments, and persistent weakness in property markets.
Investors have generally looked beyond record exports and trade surpluses in December and 2024, because the rise in sales has not translated to a corresponding increase in earnings.
Investors are bracing for weak earnings growth in the December quarter and dialing down 2025 earnings growth expectations amid decelerating economic growth and ongoing property market malaise.
China Stock Movers
The Hang Seng index increased 1.4% to 19,145.88, and the mainland-focused CSI 300 index jumped 2% to 3,796.97.
Wuxi AppTec Co. Ltd. increased 3.4% to ¥54.99 after the biotech company sold 86 million shares in a Cayman Islands-registered unit for HK $2.4 billion or $312 million.
WuXi Biologics jumped 5.4% to HK $17.78 after the release of stake sale news.
BYD increased 3.9% to HK $259.0, Li Auto advanced 2.9% to HK $87.75, and Xpeng Inc. increased 6.4% to HK $49.60.
Alibaba Group Holding increased 1.8% to HK $79.50, Tencent Holdings advanced 3.4% to HK $378.60, and Baidu Inc. gained 2.7% to HK $77.55.
- Scott Peters
- 14 Jan, 2025
- New York City
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
- Scott Peters
- 14 Jan, 2025
- New York City
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
- Barry Adams
- 14 Jan, 2025
- New York City
Wall Street indexes advanced, and investors reviewed the first of two inflation reports amid heightened attention to underlying drivers after a strong jobs market report.
The S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.5% after the producer price index rose less than expected in December.
The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday.
On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%.
Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month.
Investors now shifted their attention to the release of the consumer price inflation report on Wednesday, which could provide deeper insights into the policymakers' options on rate policy.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.5% to 5,885.53, the Nasdaq Composite rose 0.6% to 19,168.15, and the Russell 2000 index inched up by 0.4% to 2,199.08.
The yield on 2-year Treasury notes edged higher to 4.41%, 10-year Treasury notes inched up to 4.79%, and 30-year Treasury bonds increased to 4.98%.
WTI crude oil decreased $0.11 to $78.11 a barrel, and natural gas prices edged down 11 cents to $3.74 a thermal unit.
Gold decreased by $2.21 to $2,665.09 an ounce, and silver fell by $0.01 to $29.67.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 109.68 and traded at a two-year high.
U.S. Stock Movers
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
- Barry Adams
- 14 Jan, 2025
- Select
Wall Street indexes advanced, and investors reviewed the first of two inflation reports amid heightened attention to underlying drivers after a strong jobs market report.
The S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.5% after the producer price index rose less than expected in December.
The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday.
On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%.
Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month.
Investors now shifted their attention to the release of the consumer price inflation report on Wednesday, which could provide deeper insights into the policymakers' options on rate policy.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.5% to 5,885.53, the Nasdaq Composite rose 0.6% to 19,168.15, and the Russell 2000 index inched up by 0.4% to 2,199.08.
The yield on 2-year Treasury notes edged higher to 4.41%, 10-year Treasury notes inched up to 4.79%, and 30-year Treasury bonds increased to 4.98%.
WTI crude oil decreased $0.11 to $78.11 a barrel, and natural gas prices edged down 11 cents to $3.74 a thermal unit.
Gold decreased by $2.21 to $2,665.09 an ounce, and silver fell by $0.01 to $29.67.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 109.68 and traded at a two-year high.
U.S. Stock Movers
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
- Barry Adams
- 14 Jan, 2025
- New York City
Wall Street indexes advanced, and investors reviewed the first of two inflation reports amid heightened attention to underlying drivers after a strong jobs market report.
The S&P 500 index increased 0.4%, and the Nasdaq Composite advanced 0.5% after the producer price index rose less than expected in December.
The measure of the wholesale price index rose 0.2% from the previous month, and the core index, which excludes volatile food and energy prices, was flat, according to a report released by the Bureau of Labor Statistics Tuesday.
On an annual basis, producer price inflation accelerated to 3.3% in December from 3.0% in the previous month, and the core rate of inflation advanced to 3.5%.
Market participants are sensitive to inflation reports after nonfarm payrolls expanded by faster-than-expected 256,000 in December, confirming that the jobs market is too strong for the Federal Reserve to lower rates at its next meeting, later in the month.
Investors now shifted their attention to the release of the consumer price inflation report on Wednesday, which could provide deeper insights into the policymakers' options on rate policy.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.5% to 5,885.53, the Nasdaq Composite rose 0.6% to 19,168.15, and the Russell 2000 index inched up by 0.4% to 2,199.08.
The yield on 2-year Treasury notes edged higher to 4.41%, 10-year Treasury notes inched up to 4.79%, and 30-year Treasury bonds increased to 4.98%.
WTI crude oil decreased $0.11 to $78.11 a barrel, and natural gas prices edged down 11 cents to $3.74 a thermal unit.
Gold decreased by $2.21 to $2,665.09 an ounce, and silver fell by $0.01 to $29.67.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.28 to 109.68 and traded at a two-year high.
U.S. Stock Movers
KB Home increased 10.6% to $70.86 after the home builder reported better-than-expected quarterly results.
Revenue in the fourth quarter increased 19% to $1.99 billion from $1.67 billion, net income advanced 27% to $190.6 million from $150.3 million, and diluted earnings per share rose to $2.52 from $1.85 a year ago.
Homes delivered in the quarter increased 17% to 3,978 homes, and net orders and net order value for the quarter both increased by 41%, reaching 2,688 and $1.32 billion, respectively.
IAC Inc. increased 1.8% to $43.35 after the parent of Daily Beast and Match.com announced its plans to spin off home improvement marketplace Angi.
Big banks traded higher ahead of their earnings releases on Wednesday.
JPMorgan Chase jumped 0.1% to $244.40, Wells Fargo increased 0.7% to $71.0, and Citigroup advanced 0.8% to $73.35.
Signet Jewelers Ltd. plunged 16% to $62.12 after the parent company of Zales lowered its fourth quarter outlook.
The company estimated total sales in the fourth quarter to range between $2.32 billion and $2.335 billion, compared to the previous estimate between $2.38 billion and $2.46 billion.
Same-store sales outlook in the quarter was lowered to a range between a decline of 2.0% and 2.5%, compared to the previous range between flat and an increase of 3.0%.
The diamond jeweler said same-store sales in the ten-week period to January 11 declined 2% from a year ago.
The company blamed the sales decline on "merchandise assortment gaps at key gifting price points" and customers seeking more items with promotional discounts.
- Inga Muller
- 14 Jan, 2025
- Frankfurt
Stock market indexes in the eurozone attempted to rebound, the euro hovered near a two-year low, and bond yields approached multi-year highs amid ongoing political turmoil in France and Germany.
The DAX index increased by 0.8% to 20,289.72; the CAC-40 index rose by 1.1% to 7,485.42; and the FTSE 100 index inched higher by 0.2% to 8,243.07.
The yield on 10-year German bonds edged higher to 2.59%, French bonds rose to 3.45%, the UK gilts increased to 4.87%, and Italian bonds edged lower to 3.80%.
Ocado Group PLC gained 9.4% to 295.30 pence after the UK-based online grocery portal operator and grocery technology company reported a 17.5% surge in quarterly revenue.
Retail revenue increased by 17.5% to £715.8 million from £609.4 million, driven by a 16.9% increase in weekly orders to 476,000 from 407,000 a year ago.
The number of active customers increased 12.1% to 1.1 million from 0.998 million, the average item price was nearly unchanged at £2.75, and average basket value rose 0.2% to £120.85 from £120.62 a year ago.
The company estimated fiscal year 2024 ending on December 1 revenue increased 13.9% to £2.69 billion, and the retailer reiterated its target of reaching "high mid single-digit adjusted EBITDA margin by the end of the first half.
JD Sports Fashion PLC decreased 8.6% to 87.94 pence after the specialty retailer issued a profit warning.
The company said organic comparable sales in December increased 3.4%, but comparable sales over the two-month period to December decreased 1.5% amid "current headwinds" in the market.
The retailer held out for full-year organic revenue growth of 5%, and the company said it will release full financial statements in March.
JD Sports estimated pre-tax earnings before adjustments to range between £915 million and £935 million, and full-year gross margins are expected to be around 48%, matching the level in the year ago.
- Inga Muller
- 14 Jan, 2025
- Frankfurt
Stock market indexes in the eurozone attempted to rebound, the euro hovered near a two-year low, and bond yields approached multi-year highs amid ongoing political turmoil in France and Germany.
The DAX index increased by 0.8% to 20,289.72; the CAC-40 index rose by 1.1% to 7,485.42; and the FTSE 100 index inched higher by 0.2% to 8,243.07.
The yield on 10-year German bonds edged higher to 2.59%, French bonds rose to 3.45%, the UK gilts increased to 4.87%, and Italian bonds edged lower to 3.80%.
Ocado Group PLC gained 9.4% to 295.30 pence after the UK-based online grocery portal operator and grocery technology company reported a 17.5% surge in quarterly revenue.
Retail revenue increased by 17.5% to £715.8 million from £609.4 million, driven by a 16.9% increase in weekly orders to 476,000 from 407,000 a year ago.
The number of active customers increased 12.1% to 1.1 million from 0.998 million, the average item price was nearly unchanged at £2.75, and average basket value rose 0.2% to £120.85 from £120.62 a year ago.
The company estimated fiscal year 2024 ending on December 1 revenue increased 13.9% to £2.69 billion, and the retailer reiterated its target of reaching "high mid single-digit adjusted EBITDA margin by the end of the first half.
JD Sports Fashion PLC decreased 8.6% to 87.94 pence after the specialty retailer issued a profit warning.
The company said organic comparable sales in December increased 3.4%, but comparable sales over the two-month period to December decreased 1.5% amid "current headwinds" in the market.
The retailer held out for full-year organic revenue growth of 5%, and the company said it will release full financial statements in March.
JD Sports estimated pre-tax earnings before adjustments to range between £915 million and £935 million, and full-year gross margins are expected to be around 48%, matching the level in the year ago.