- Saudi crown prince says no Israel ties without Palestinian state
- Canada to further cut international student, foreign worker permits
- YouTube launches new TV-focused tools for creators
- White Sox heading for worst season in MLB history
- China the top challenge in US history: senior diplomat
- Hong Kong democracy tycoon's son warns time running out
- New migraine drugs no better than cheap painkillers: big study
- Sean 'Diddy' Combs again denied bail in sex trafficking case
- Brewers clinch division title as MLB playoff race heats up
- Man City blunted by 'giant' Inter in Champions League stalemate
- US stocks dip despite larger Fed interest rate cut
- Man City held by Inter as PSG pinch win in Champions League
- All Blacks recall Beauden Barrett for Australia Test
- Fears of all-out war as new Lebanon device blasts kill 20, wound 450
- Spurs late show saves Postecoglou blushes at Coventry
- PSG snatch late goal to beat Champions League debutants Girona
- Gittens' late double gives Dortmund Champions League win at Brugge
- Man City blunted by Inter in Champions League stalemate
- Hidden talent: French Olympic star Marchand opts for disguise
- MrBeast named in California lawsuit over 'Beast Games' show
- Gauff splits with Gilbert as coach after 14-month run
- Hundreds of thousands at risk in Sudan's El-Fasher: UN
- Harvey Weinstein pleads not guilty to new sex crime charge
- Venezuelan opposition candidate says letter conceding election was coerced
- Ukraine official claims Russian advance in Kursk has been 'stopped'
- X update allows app to bypass Brazil ban: internet providers
- Fears of all-out war as new Lebanon device blasts kill 14, wound 450
- US Fed makes aggressive rate cut, weeks before election
- Arsenal's Odegaard faces lengthy injury absence
- India coal expansion risks massive methane growth: report
- China the top challenge in US history, top diplomat says
- US Fed makes larger half-point cut in first reduction since 2020
- Ronaldo's Al Nassr appoint former AC Milan boss Pioli
- Ainslie 'relieved' as British book place in Louis Vuitton Cup final
- Struggling Roma replace sacked icon De Rossi with Ivan Juric
- Women's NBA will add 15th team in Portland in 2026
- Brazil fires need harsher punishment: environmental police boss
- Boeing to start large temporary furloughs amid Seattle strike
- Fears of all-out war as new Lebanon device blasts kill nine, wound 300
- 'Emergency' declared over falling UK butterfly numbers
- McIlroy outlines threats to golf peace deal
- Stock markets, dollar slip before US rate decision
- Russian advance in Kursk 'stopped': Ukraine official to AFP
- UN members demand end to 'unlawful' Israeli occupation of Palestinian territories
- Snapchat pushes 'safer' platform image, but not everyone agrees
- Three dead, 100 wounded in new wave of Lebanon device explosions
- So where does the oceans' plastic waste come from?
- Allied war heroes buried in Netherlands... 80 years on
- Marsh coy over Australia's choice to open alongside Head
- New London sculpture pays tribute to trans community
RBGPF | 5.79% | 60.5 | $ | |
GSK | -0.31% | 42.43 | $ | |
CMSC | 0.02% | 25.055 | $ | |
VOD | 0.49% | 10.23 | $ | |
NGG | -0.46% | 70.05 | $ | |
SCS | 0.71% | 14.11 | $ | |
BTI | -0.34% | 37.88 | $ | |
AZN | 0.06% | 78.58 | $ | |
RYCEF | 1.37% | 6.55 | $ | |
RIO | -0.02% | 62.91 | $ | |
RELX | -0.82% | 47.37 | $ | |
BCC | 1.33% | 137.06 | $ | |
BCE | 3.09% | 35.61 | $ | |
JRI | 0.45% | 13.44 | $ | |
BP | -0.37% | 32.43 | $ | |
CMSD | -0.12% | 24.98 | $ |
Nasdaq ends bruising January on a positive note
Wall Street stocks finished a bruising month on a positive note Monday, rallying ahead of a heavy week of economic news and corporate earnings.
After a sluggish morning, major US indices picked up momentum throughout Monday, ultimately rising for the second straight session following a mixed day in Europe.
Bolstered by Amazon, Facebook parent Meta and other tech titans, the Nasdaq finished at 14,239.88, up 3.4 percent for the day but down nine percent for the month.
"There weren't any specific macro catalysts today," said Briefing.com. "Instead, the market received support from month-end rebalancing activity that disproportionately benefited growth stocks after a dismal January."
In Europe, both Paris and Frankfurt ended higher but London dipped.
"There's no shortage of risk events for the markets this week with rate decisions from the Bank of England and the ECB (European Central Bank), the US jobs report and a slew of earnings," noted Victoria Scholar, head of investment at Interactive Investor.
Recent weeks have seen upheaval across world markets as the Federal Reserve readies to withdraw the vast financial support put in place at the start of the pandemic, which has fueled a nearly two-year equity rally.
"The markets have been roiled by concerns about stubborn inflation pressures and expectations that the Fed will have to be aggressive with its monetary policy tightening campaign," said analysts at Charles Schwab brokerage.
Observers debate the Fed's likely moves as US inflation sits at a four-decade high, with some saying it could hike up to seven times before 2023, with an initial 50 basis point move in March.
The Bank of England is widely expected to increase its main interest rate by a quarter-point Thursday to 0.5 percent.
That follows its decision in December to increase borrowing costs from a record-low 0.1 percent to 0.25 percent to combat decades-high inflation.
This week sees also an ECB policy update.
Its chief Christine Lagarde has downplayed inflation concerns, arguing that the forces pushing up prices across the eurozone are expected to ease over 2022.
Official data released Monday showed the eurozone economy grew 5.2 percent last year after a pandemic-induced recession. Meanwhile, although German inflation slowed in January, it still came in higher than expected and will likely put more pressure on the ECB to react.
- Key figures around 2150 GMT -
New York - Dow: UP 1.2 percent at 35,131.86 (close)
New York - S&P 500: UP 1.9 percent at 4,515.55 (close)
New York - Nasdaq: UP 3.4 precent at 14,239.88 (close)
London - FTSE 100: DOWN less than 0.1 percent at 7,464.37 (close)
Frankfurt - DAX: UP 1.0 percent at 15,471.20 (close)
Paris - CAC 40: UP 0.5 percent at 6,999.20 (close)
EURO STOXX 50: UP 0.9 percent at 4,174.60 (close)
Tokyo - Nikkei 225: UP 1.1 percent at 27,001.98 (close)
Hong Kong - Hang Seng Index: UP 1.1 percent at 23,802.26 (close)
Shanghai - Composite: Closed for a holiday
Euro/dollar: UP at $1.1235 from $1.1151 Friday
Pound/dollar: UP at $1.3445 from $1.3401
Euro/pound: UP at 83.54 pence from 83.22 pence
Dollar/yen: DOWN at 115.13 yen from 115.26 yen
Brent North Sea crude: UP 1.3 percent at $91.26 per barrel
West Texas Intermediate: UP 1.5 percent at $88.15 per barrel
burs-jmb/cs
K.Brown--BTB