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London (AFP) - Wall Street's top indices fell on Thursday as a rebound in tech shares lost steam, adding to losses triggered by fears of new trade tensions. After posting Wednesday its worst daily decline since late 2022, the tech-heavy Nasdaq Composite was down 1.1 percent in late morning trading. The S&P 500 shed 0.6 percent while the blue-chip Dow slid 0.3 percent after having set a third consecutive record close on Wednesday. Europe's major stock markets ended the day mixed, with London getting a boost by the previous day's oil price surge. Oil prices had vaulted two percent higher Wed...
AFP
Los Angeles (United States) (AFP) - The World Boxing Council (WBC) expelled embattled fighter Ryan Garcia from its events on Thursday after he posted a racist rant on social media. WBC President Mauricio Sulaiman said in a statement on X, formerly Twitter, that Garcia would not be allowed to take part in any fights involving the global boxing body. "Exercising my authority as president of the WBC, I am hereby expelling Ryan Garcia from any activity with our organization," Sulaiman said in a statement. "We reject any form of discrimination. I fear for Ryan's well being as he has declined multip...
AFP
New York (AFP) - European stock markets slid Tuesday as jitters resurfaced over impending French elections, while stocks on Wall Street ended mixed as investor darling Nvidia reversed course, driving the Nasdaq higher. Wall Street's tech-heavy Nasdaq and the broad-based S&P 500 rebounded while the Dow Jones Industrial Average fell. In Europe, Paris, London and Frankfurt all ended the day lower. Nvidia was back in the green, closing up 6.8 percent on Tuesday after falling sharply in recent days over concerns that the tech sector's rally had gone too far. The US company had briefly become th...
AFP
New York (AFP) - The tech rally that drove Wall Street to record highs appeared out of steam Friday as US markets finished mixed, with European markets hit by disappointing data. The Dow Jones Industrial Average finished less than 0.1 percent higher, while the S&P 500 and the Nasdaq both fell. Shares in AI processor manufacturer Nvidia, largely responsible for driving the equity rally, retreated 3.2 percent after having tumbled 3.5 percent on Thursday as profit-taking set in. "I think that because of Juneteenth, you have a lot of people who are leaving to go on vacation early," Sam Stovall fr...
AFP
New York (AFP) - Nvidia edged out other tech giants Tuesday to become the world's most valuable publicly traded company, a rise that also helped lift the Nasdaq to a seventh straight record close. Nvidia's feat came on an up day for most global equity markets in spite of lackluster economic data in the United States and Germany and lingering unease about upcoming political elections in France. All three major US stock indices climbed, along with bourses in Paris, Frankfurt, London and Tokyo. Nvidia, which has enjoyed a monumental ascent over the last 18 months amid enthusiasm over generative a...
AFP
New York (AFP) - Wall Street stocks rallied to fresh records Monday behind enthusiasm over artificial intelligence, while European markets bounced despite political uncertainty in France. Both the tech-rich Nasdaq and the broad-based S&P 500 pushed to all-time closing highs. "It's not a broad rally but it's a rally with the index up for sure," said Art Hogan of B. Riley Wealth Management, who pointed to the recent share price gains of Apple, Microsoft and Nvidia as a source of momentum. Hogan also noted that the outlook for US monetary policy had improved somewhat following last week's US infl...
AFP
New York (AFP) - Stock markets mostly retreated on Thursday as traders reacted to political uncertainty in Europe and the US Federal Reserve's plan to only cut interest rates once this year. European stocks closed firmly in the red, Paris and Frankfurt shedding around two percent each as investors continued to track fallout from far-right gains in last weekend's EU elections. Returns were better on Wall Street, where both the S&P 500 and Nasdaq finished at fresh records following lower wholesale prices The Dow finished narrowly lower. On Wednesday, the Federal Reserve left its key lending rat...
AFP
New York (AFP) - European stock markets and the euro tumbled Tuesday amid heightened political uncertainty following weekend election results that bolstered far-right parties, while a rally in Apple shares lifted US stocks to fresh records. French President Emmanuel Macron's risky gamble of calling new legislative elections, after his centrist party's rout in the EU elections at the weekend, has focussed attention on the country's fragile finances. Major European bourses retreated, with the CAC in Paris losing 1.3 percent. US bourses also began cautiously, but picked up momentum thanks to a mo...
AFP
New York (AFP) - Wall Street stocks seesawed Friday as a hotter-than-expected US jobs report soothed worries about the economy but fueled concerns that the Federal Reserve would keep interest rates higher for longer. New York's three main indexes finished modestly lower in a muted finale to the week that left both the S&P 500 and Nasdaq near all-time highs struck two days earlier. Friday's losses are "not a big deal because on a weekly basis we are still near the highs of the week, and that in itself is bullish," said Adam Sarhan of 50 Park Investments. Official data showed the world's biggest...
AFP
New York (AFP) - US stocks bounced back from an early morning slump to close higher Tuesday as fresh data showed that job vacancies slipped in April to their lowest level since 2021. Stock markets in Europe and Asia fell, while oil prices slid as the prospect of easing demand worldwide accompanied an announcement from OPEC+ alliance of major crude producers that it would roll back production cuts starting in October. The price of a barrel of both Brent Crude and West Texas Intermediate fell more than one percent on Tuesday, building on recent declines. Investors have shifted nervously in re...
AFP
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