U.S. Movers: Bank of America, Morgan Stanley, Target Corp, UnitedHealth

Scott Peters
16 Jan, 2025
New York City

Bank of America increased 0.5% to $47.10 after the financial service company reported better-than-expected revenue and earnings in the fourth quarter. 

Morgan Stanley advanced 1% to $131.79 after the investment and asset management company reported higher-than-expected revenue and earnings in the fourth quarter. 

The company benefited from a rise in its investment banking fees and a surge in fixed income trading revenue. 

Target Corp. declined 0.8% to $133.52 after the big-box retailer raised its sales outlook in the fourth quarter. 

The retailer said comparable sales are likely to increase 1.5% in the fourth quarter, compared to the previous estimate of flat. 

The company left its earnings estimate unrevised for the quarter and the full year, indicating customers were driven by promotions and deals during the holiday period. 

The retailer anticipated earnings per share in the fourth quarter between $1.85 and $2.45 and for the full year between $8.30 and $8.90. 

Target said it will release detailed financial results on March 4. 

UnitedHealth Group decreased 3.5% to $525.0 after the health insurance company reported mixed quarterly results. 

Total revenue in the quarter was $100.81 billion, and adjusted earnings per share were $6.81. 

The annual medical cost ratio, the percentage of collected premiums spent on medical care costs, increased to 85.5% from 83.2% in 2023. 

The company reaffirmed its annual earnings per share in 2025 between $29.50 and $30.0, confirming its previous estimate released in December. 

U.S. Movers: Bank of America, Morgan Stanley, Target Corp, UnitedHealth

Scott Peters
16 Jan, 2025
New York City

Bank of America increased 0.5% to $47.10 after the financial service company reported better-than-expected revenue and earnings in the fourth quarter. 

Morgan Stanley advanced 1% to $131.79 after the investment and asset management company reported higher-than-expected revenue and earnings in the fourth quarter. 

The company benefited from a rise in its investment banking fees and a surge in fixed income trading revenue. 

Target Corp. declined 0.8% to $133.52 after the big-box retailer raised its sales outlook in the fourth quarter. 

The retailer said comparable sales are likely to increase 1.5% in the fourth quarter, compared to the previous estimate of flat. 

The company left its earnings estimate unrevised for the quarter and the full year, indicating customers were driven by promotions and deals during the holiday period. 

The retailer anticipated earnings per share in the fourth quarter between $1.85 and $2.45 and for the full year between $8.30 and $8.90. 

Target said it will release detailed financial results on March 4. 

UnitedHealth Group decreased 3.5% to $525.0 after the health insurance company reported mixed quarterly results. 

Total revenue in the quarter was $100.81 billion, and adjusted earnings per share were $6.81. 

The annual medical cost ratio, the percentage of collected premiums spent on medical care costs, increased to 85.5% from 83.2% in 2023. 

The company reaffirmed its annual earnings per share in 2025 between $29.50 and $30.0, confirming its previous estimate released in December. 

U.S. Indexes May Face Inflation Wall In Months Ahead After Solid Market Advance In Previous Session

Barry Adams
16 Jan, 2025
New York City

Wall Street indexes lacked direction in early trading following the best one-day increase since November, after banks reported strong quarterly results and a cooler inflation report. 

The S&P 500 index edged up a fraction, and the Nasdaq Composite traded slightly lower, and investors reviewed the strong advances in tech stocks in the previous session. 

Investors may have to revise their inflation outlook in the months ahead, as the services inflation and wage gains across all industries are expected to stay closer to 4%, fueling inflationary forces. 

The Federal Reserve is more likely to walk back from its current estimate of rate cuts totaling 200 basis points in 2025 if overall and core inflation fails to dip below 3%. 

Costs of shelter and transportation services in December jumped 4.6% and 7.3%, respectively, and they have consistently been above the Fed's target rate for overall inflation of 2%. 

The Fed's monetary policy has largely been ineffective in controlling or impacting these two key drivers of inflation in recent years. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 5,951.26, the Nasdaq Composite fell 1.6% to 19,504.18, and the Russell 2000 index inched down by 0.1% to 2,259.09. 

The yield on 2-year Treasury notes edged up to 4.31%, 10-year Treasury notes inched down to 4.69%, and 30-year Treasury bonds declined to 4.90%.

WTI crude oil decreased $0.64 to $79.43 a barrel, and natural gas prices edged up 4 cents to $4.13 a thermal unit.

Gold increased by $6.70 to $2,701.77 an ounce, and silver fell by $0.07 to $30.58. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.24 to 109.31 and traded at a two-year high. 

U.S. Stock Movers 

Bank of America increased 0.5% to $47.10 after the financial service company reported better-than-expected revenue and earnings in the fourth quarter. 

Morgan Stanley advanced 1% to $131.79 after the investment and asset management company reported higher-than-expected revenue and earnings in the fourth quarter. 

The company benefited from a rise in its investment banking fees and a surge in fixed income trading revenue. 

Target Corp. declined 0.8% to $133.52 after the big-box retailer raised its sales outlook in the fourth quarter. 

The retailer said comparable sales are likely to increase 1.5% in the fourth quarter, compared to the previous estimate of flat. 

The company left its earnings estimate unrevised for the quarter and the full year, indicating customers were driven by promotions and deals during the holiday period. 

The retailer anticipated earnings per share in the fourth quarter between $1.85 and $2.45 and for the full year between $8.30 and $8.90. 

Target said it will release detailed financial results on March 4. 

UnitedHealth Group decreased 3.5% to $525.0 after the health insurance company reported mixed quarterly results. 

Total revenue in the quarter was $100.81 billion, and adjusted earnings per share were $6.81. 

The annual medical cost ratio, the percentage of collected premiums spent on medical care costs, increased to 85.5% from 83.2% in 2023. 

The company reaffirmed its annual earnings per share in 2025 between $29.50 and $30.0, confirming its previous estimate released in December. 

U.S. Indexes May Face Inflation Wall In Months Ahead After Solid Market Advance In Previous Session

Barry Adams
16 Jan, 2025
New York City

Wall Street indexes lacked direction in early trading following the best one-day increase since November, after banks reported strong quarterly results and a cooler inflation report. 

The S&P 500 index edged up a fraction, and the Nasdaq Composite traded slightly lower, and investors reviewed the strong advances in tech stocks in the previous session. 

Investors may have to revise their inflation outlook in the months ahead, as the services inflation and wage gains across all industries are expected to stay closer to 4%, fueling inflationary forces. 

The Federal Reserve is more likely to walk back from its current estimate of a rate cut totaling 200 basis points in 2025 if overall and core inflation fails to dip below 3%. 

Costs of shelter and transportation services in December jumped 4.6% and 7.3%, respectively, and they have consistently been above the Fed's target rate for overall inflation of 2%. 

The Fed's monetary policy has largely been ineffective in controlling or impacting these two key drivers of inflation in recent years. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 0.1% to 5,951.26, the Nasdaq Composite fell 1.6% to 19,504.18, and the Russell 2000 index inched down by 0.1% to 2,259.09. 

The yield on 2-year Treasury notes edged up to 4.31%, 10-year Treasury notes inched down to 4.69%, and 30-year Treasury bonds declined to 4.90%.

WTI crude oil decreased $0.64 to $79.43 a barrel, and natural gas prices edged up 4 cents to $4.13 a thermal unit.

Gold increased by $6.70 to $2,701.77 an ounce, and silver fell by $0.07 to $30.58. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.24 to 109.31 and traded at a two-year high. 

U.S. Stock Movers 

Bank of America increased 0.5% to $47.10 after the financial service company reported better-than-expected revenue and earnings in the fourth quarter. 

Morgan Stanley advanced 1% to $131.79 after the investment and asset management company reported higher-than-expected revenue and earnings in the fourth quarter. 

The company benefited from a rise in its investment banking fees and a surge in fixed income trading revenue. 

Target Corp. declined 0.8% to $133.52 after the big-box retailer raised its sales outlook in the fourth quarter. 

The retailer said comparable sales are likely to increase 1.5% in the fourth quarter, compared to the previous estimate of flat. 

The company left its earnings estimate unrevised for the quarter and the full year, indicating customers were driven by promotions and deals during the holiday period. 

The retailer anticipated earnings per share in the fourth quarter between $1.85 and $2.45 and for the full year between $8.30 and $8.90. 

Target said it will release detailed financial results on March 4. 

UnitedHealth Group decreased 3.5% to $525.0 after the health insurance company reported mixed quarterly results. 

Total revenue in the quarter was $100.81 billion, and adjusted earnings per share were $6.81. 

The annual medical cost ratio, the percentage of collected premiums spent on medical care costs, increased to 85.5% from 83.2% in 2023. 

The company reaffirmed its annual earnings per share in 2025 between $29.50 and $30.0, confirming its previous estimate released in December. 

Europe Movers: Antofagasta, Richemont, Renault, Rio Tinto, Stellantis, Whitbread

Inga Muller
16 Jan, 2025
Frankfurt

Benchmark indexes in Paris soared, driven by a surge in luxury stocks after Richemont SA reported a strong increase in quarterly sales. 

Italy's trade surplus in November after imports fell at a faster pace than exports.   

The DAX index increased by 0.2% to 20,612.99; the CAC-40 index rose by 2.2% to 7,623.41; and the FTSE 100 index inched higher by 0.7% to 8,365.77.

The yield on 10-year German bonds edged lower to 2.55%, French bonds fell to 3.36%, the UK gilts decreased to 4.71%, and Italian bonds edged lower to 3.70%.

Richemont SA soared 16.6% to CHF 162.15 after the parent company of Cartier reported a 10% increase in sales in the December quarter. 

Quarterly sales grew 10% year-on-year to €6.15 billion, following a 1% drop in the previous quarter.    

Improvements in the first half of the year came with the acceleration of sales in jewelery by 14% and fashion & accessories by 7%.

Sales in the Americas surged 22%, in Europe advanced 19%, in the Middle East by 20% and in Japan by 19%. 

However, sales in Asia Pacific, which includes mainland China, declined 7% from a year ago. 

The company reported a net cash position of €7.9 billion.    

Nine-month sales increased 4% to €16.2 billion, and 3% at actual exchange rates.

Luxury peers advanced sharply in Paris and Milan after the company's sales update. 

Hermes International SCA jumped 5.9% to €2,504.0, LVMH advanced 9.5% to €697.70, and Kering SA soared 9.2% to €243.75. 

Rio Tinto plc gained 1.7% to 5,017.0 pence after the UK-based mining company reported strong production results in the December quarter. 

On a consolidated basis, mined copper in the fourth quarter was 202,000 tons, or 26% higher than a year ago. Meanwhile, bauxite production increased 2% to 15.4 million tons.

For fiscal year 2024, consolidated annual mined copper production advanced 13% to 697,000 tons, while aluminum production saw a slight 1% increase to 3.3 million tons.

Antofagasta plc rose 3.5% to 1,756.0 pence, despite the UK-based mining company operating in Chile reporting flat production of copper in 2024. 

Renault SA advanced 3.9% to €49.33 after the French automaker reported a 1.3% increase in unit sales in 2024, and the sales increase was driven in part by a faster adoption of electric vehicles. 

Sales growth, however, slowed sharply from a rise of 9% in 2023 amid inflation concerns and surplus production in China.

Renault will report 2024 financial results on February 20.

Stellantis NV increased 1% to €12.46, despite the Italian automaker reporting a 9% decline in global shipments of vehicles in the fourth quarter. 

Sales in the period dropped 5% although the company conducted successful inventory reductions in the U.S. market.

Consolidated shipments for the three months ending December 31, 2024, were an estimated 1.4 million units.

Whitbread plc declined 2.2% to 2,903.0 pence after the hotel and restaurant company reported a decline in sales.

The hotel and restaurant company said latest quarterly sales were down 2% to to £763 million.

The company is “making excellent progress in Germany” and reiterated its profitability in fiscal year 2026.

Whitbread expects gross UK cost inflation to be between 5% and 6% on a £1.7 billion cost base. However, with efficiencies of £50 million, net UK cost inflation is seen between 2% and 3%. 

Revenue in the fiscal third quarter ending in December declined 2%, driven by a 1% fall in comparable sales. 

UK comparable accommodation sales decreased 3%, and food and beverage sales decreased 1%, and total UK sales dropped 3%. 

However, comparable sales in Germany soared 20% in the third quarter. 

Zalando jumped 14.6% to €33.44 after the online retailer of fashion and lifestyle products said its adjusted EBIT is expected to reach around €510 million, above the company's current guidance of €440 million to €480 million.

On December 11, 2024, Zalando announced its intention to acquire up to 100% of ABOUT YOU Holding SE's share capital.

In the financial year 2024, revenue grew by 3.9% from a year ago to €10.5 billion, and gross merchandise volume rose by 4.5% to €15.3 billion.

Swiss-based SGS SA tanked nearly 6.5% on Wednesday after it confirmed that it is in merger talks with French peer Bureau Veritas. 

The two firms specialize in testing and certifying products, ingredients and processes.

Combined, the two companies would have a market value of nearly $35 billion or CHF31.9 billion.

Any potential deal would require the backing of French investing company Wendel SE, the largest shareholder of Bureau Veritas with a 26.5% stake.

The agreement would also likely need approval from the French and Swiss governments.

Europe Movers: Antofagasta, Richemont, Renault, Rio Tinto, Stellantis, Whitbread

Inga Muller
16 Jan, 2025
Frankfurt

Benchmark indexes in Paris soared, driven by a surge in luxury stocks after Richemont SA reported a strong increase in quarterly sales. 

Italy's trade surplus in November after imports fell at a faster pace than exports.   

The DAX index increased by 0.2% to 20,612.99; the CAC-40 index rose by 2.2% to 7,623.41; and the FTSE 100 index inched higher by 0.7% to 8,365.77.

The yield on 10-year German bonds edged lower to 2.55%, French bonds fell to 3.36%, the UK gilts decreased to 4.71%, and Italian bonds edged lower to 3.70%.

Richemont SA soared 16.6% to CHF 162.15 after the parent company of Cartier reported a 10% increase in sales in the December quarter. 

Quarterly sales grew 10% year-on-year to €6.15 billion, following a 1% drop in the previous quarter.    

Improvements in the first half of the year came with the acceleration of sales in jewelery by 14% and fashion & accessories by 7%.

Sales in the Americas surged 22%, in Europe advanced 19%, in the Middle East by 20% and in Japan by 19%. 

However, sales in Asia Pacific, which includes mainland China, declined 7% from a year ago. 

The company reported a net cash position of €7.9 billion.    

Nine-month sales increased 4% to €16.2 billion, and 3% at actual exchange rates.

Luxury peers advanced sharply in Paris and Milan after the company's sales update. 

Hermes International SCA jumped 5.9% to €2,504.0, LVMH advanced 9.5% to €697.70, and Kering SA soared 9.2% to €243.75. 

Rio Tinto plc gained 1.7% to 5,017.0 pence after the UK-based mining company reported strong production results in the December quarter. 

Antofagasta plc rose 3.5% to 1,756.0 pence, despite the UK-based mining company operating in Chile reporting flat production of copper in 2024. 

Renault SA advanced 3.9% to €49.33 after the French automaker reported a 1.3% increase in unit sales in 2024, and the sales increase was driven in part by a faster adoption of electric vehicles. 

Stellantis NV increased 1% to €12.46, despite the Italian automaker reporting a 9% decline in global shipments of vehicles in the fourth quarter. 

Whitbread plc declined 2.2% to 2,903.0 pence after the hotel and restaurant company reported a decline in sales.

The hotel and restaurant company said latest quarterly sales were down 2% to to £763 million.

The company is “making excellent progress in Germany” and reiterated its profitability in fiscal year 2026.

Whitebread expects gross UK cost inflation to be between 5% and 6% on a £1.7 billion cost base. However, with efficiencies of £50 million, net UK cost inflation is seen between 2% and 3%. 

Revenue in the fiscal third quarter ending in December declined 2%, driven by a 1% fall in comparable sales. 

UK comparable accommodation sales decreased 3%, and food and beverage sales decreased 1%, and total UK sales dropped 3%. 

However, comparable sales in Germany soared 20% in the third quarter. 

Luxury Stocks In Paris and Milan Surge After Richemont Quarterly Sales Soar

Bridgette Randall
16 Jan, 2025
London

Stock market indexes in Europe advanced amid positive market sentiment following the release of corporate updates in France and the U.K. 

Benchmark indexes in Paris soared, driven by a surge in luxury stocks after the Switzerland-based Richemont SA reported sales in the fiscal third quarter jumped 15%. 

Market indexes in London advanced after Rio Tinto and Antofagasta released their monthly production reports; however, market gains were capped after a muted increase in monthly GDP in the U.K.

Gross domestic product increased 0.1% on a monthly basis in November following an unrevised decrease of 0.1% in October, the Office for National Statistics reported Thursday. 

Europe Indexes and Yields

The DAX index increased by 0.2% to 20,612.99; the CAC-40 index rose by 2.2% to 7,623.41; and the FTSE 100 index inched higher by 0.7% to 8,365.77.

The yield on 10-year German bonds edged lower to 2.55%, French bonds fell to 3.36%, the UK gilts decreased to 4.71%, and Italian bonds edged lower to 3.70%.

The euro edged lower to $1.02; the British pound inched lower to $1.22; and the U.S. dollar eased to 91.15 Swiss cents. 

Brent crude decreased $0.90 to $81.13 a barrel, and the Dutch TTF natural gas fell by €1.20 to €45.93 per MWh.

Europe Stock Movers

Richemont SA soared 16.6% to CHF 162.15 after the parent company of Cartier reported a 10% increase in sales in the December quarter. 

Luxury peers advanced sharply in Paris and Milan after the company's sales update. 

Hermes International SCA jumped 5.9% to €2,504.0, LVMH advanced 9.5% to €697.70, and Kering SA soared 9.2% to €243.75. 

Rio Tinto plc gained 1.7% to 5,017.0 pence after the UK-based mining company reported strong production results in the December quarter. 

Antofagasta plc rose 3.5% to 1,756.0 pence, despite the UK-based mining company operating in Chile reporting flat production of copper in 2024. 

Renault SA advanced 3.9% to €49.33 after the French automaker reported a 1.3% increase in unit sales in 2024, and the sales increase was driven in part by a faster adoption of electric vehicles. 

Stellantis NV increased 1% to €12.46, despite the Italian automaker reporting a 9% decline in global shipments of vehicles in the fourth quarter. 

Whitbread plc declined 2.2% to 2,903.0 pence after the hotel and restaurant company reported a decline in sales. 

Revenue in the fiscal third quarter ending in December declined 2%, driven by a 1% fall in comparable sales. 

UK comparable accommodation sales decreased 3%, and food and beverage sales decreased 1%, and total UK sales dropped 3%. 

However, comparable sales in Germany soared 20% in the third quarter. 

Luxury Stocks In Paris and Milan Surge After Richemont Quarterly Sales Soar

Bridgette Randall
16 Jan, 2025
London

Stock market indexes in Europe advanced amid positive market sentiment following the release of corporate updates in France and the U.K. 

Benchmark indexes in Paris soared, driven by a surge in luxury stocks after the Switzerland-based Richemont SA reported sales in the fiscal third quarter jumped 15%. 

Market indexes in London advanced after Rio Tinto and Antofagasta released their monthly production reports; however, market gains were capped after a muted increase in monthly GDP in the U.K.

Gross domestic product increased 0.1% on a monthly basis in November following an unrevised decrease of 0.1% in October, the Office for National Statistics reported Thursday. 

Europe Indexes and Yields

The DAX index increased by 0.2% to 20,612.99; the CAC-40 index rose by 2.2% to 7,623.41; and the FTSE 100 index inched higher by 0.7% to 8,365.77.

The yield on 10-year German bonds edged lower to 2.55%, French bonds fell to 3.36%, the UK gilts decreased to 4.71%, and Italian bonds edged lower to 3.70%.

The euro edged lower to $1.02; the British pound inched lower to $1.22; and the U.S. dollar eased to 91.15 Swiss cents. 

Brent crude decreased $0.90 to $81.13 a barrel, and the Dutch TTF natural gas fell by €1.20 to €45.93 per MWh.

Europe Stock Movers

Richemont SA soared 16.6% to CHF 162.15 after the parent company of Cartier reported a 10% increase in sales in the December quarter. 

Luxury peers advanced sharply in Paris and Milan after the company's sales update. 

Hermes International SCA jumped 5.9% to €2,504.0, LVMH advanced 9.5% to €697.70, and Kering SA soared 9.2% to €243.75. 

Rio Tinto plc gained 1.7% to 5,017.0 pence after the UK-based mining company reported strong production results in the December quarter. 

Antofagasta plc rose 3.5% to 1,756.0 pence, despite the UK-based mining company operating in Chile reporting flat production of copper in 2024. 

Renault SA advanced 3.9% to €49.33 after the French automaker reported a 1.3% increase in unit sales in 2024, and the sales increase was driven in part by a faster adoption of electric vehicles. 

Stellantis NV increased 1% to €12.46, despite the Italian automaker reporting a 9% decline in global shipments of vehicles in the fourth quarter. 

Whitbread plc declined 2.2% to 2,903.0 pence after the hotel and restaurant company reported a decline in sales. 

Revenue in the fiscal third quarter ending in December declined 2%, driven by a 1% fall in comparable sales. 

UK comparable accommodation sales decreased 3%, and food and beverage sales decreased 1%, and total UK sales dropped 3%. 

However, comparable sales in Germany soared 20% in the third quarter. 

Japan's Producer Price Holds Steady In December, Yen Rebounds to One-Month High On Rate Path Speculation

Akira Ito
16 Jan, 2025
Tokyo

Stocks in Tokyo advanced in early trading, reflecting gains in overnight trading in New York, but the market rally fizzled towards the end of the session. 

The Nikkei 225 stock average gained 0.1%, and the broader TOPIX edged down a fraction at close. 

Benchmark indexes in Tokyo opened higher after the U.S. monthly core rate of inflation declined in December, the first decrease in six months. 

Investors bid up stocks on speculation that the stubborn inflationary forces are finally weakening, which could help the U.S. Federal Reserve to deliver additional rate cuts in 2025. 

Wall Street enthusiasm was also fueled by strong earnings from Goldman Sachs, JPMorgan Chase, BlackRock, Wells Fargo, and Citigroup. 

Closer to home, Japan's annual producer price inflation held steady at 3.8% in December, matching the rate in the previous month, supporting the case for the Bank of Japan to delay its next rate hike after the March meeting. 

Japan Stock Movers

The Nikkei 225 Stock Average increased 0.1% to 38,478.15, and the broader TOPIX declined 0.01%. 

The yen edged higher to 156.05 against the U.S. dollar as investors debated the Bank of Japan's next move. 

Sumitomo Mitsui Financial Group edged higher 0.2% to ¥3,807.0, Mitsubishi UFJ Financial Group fell 0.2% to ¥1,889.0, and Mizuho Financial Group decreased 0.2% to ¥3,971.0. 

Shipping companies were in focus for the second day in a row after the U.S. placed new and stricter sanctions on Russian shipping companies and blacklisted several Chinese shipping companies. 

Nippon Yusen decreased 1.2% to ¥4,802.0, Mitsui OSK Lines Ltd. fell 3% to ¥5,129.0, and Kawasaki Kisen Kaisha Ltd. declined 3.2% to ¥1,991.50. 

Seven & I Holdings increased 1% to ¥2,469.50, and Takashimaya Co. Ltd. rose 0.6% to ¥1,238.0, and J Front Retailing edged up 0.01% to ¥1,988.0, and Fast Retailing advanced 0.2% to ¥48,440.0. 

Japan's Producer Price Holds Steady In December, Yen Rebounds to One-Month High On Rate Path Speculation

Akira Ito
16 Jan, 2025
Tokyo

Stocks in Tokyo advanced in early trading, reflecting gains in overnight trading in New York, but the market rally fizzled towards the end of the session. 

The Nikkei 225 stock average gained 0.1%, and the broader TOPIX edged down a fraction at close. 

Benchmark indexes in Tokyo opened higher after the U.S. monthly core rate of inflation declined in December, the first decrease in six months. 

Investors bid up stocks on speculation that the stubborn inflationary forces are finally weakening, which could help the U.S. Federal Reserve to deliver additional rate cuts in 2025. 

Wall Street enthusiasm was also fueled by strong earnings from Goldman Sachs, JPMorgan Chase, BlackRock, Wells Fargo, and Citigroup. 

Closer to home, Japan's annual producer price inflation held steady at 3.8% in December, matching the rate in the previous month, supporting the case for the Bank of Japan to delay its next rate hike after the March meeting. 

Japan Stock Movers

The Nikkei 225 Stock Average increased 0.1% to 38,478.15, and the broader TOPIX declined 0.01%. 

The yen edged higher to 156.05 against the U.S. dollar as investors debated the Bank of Japan's next move. 

Sumitomo Mitsui Financial Group edged higher 0.2% to ¥3,807.0, Mitsubishi UFJ Financial Group fell 0.2% to ¥1,889.0, and Mizuho Financial Group decreased 0.2% to ¥3,971.0. 

Shipping companies were in focus for the second day in a row after the U.S. placed new and stricter sanctions on Russian shipping companies and blacklisted several Chinese shipping companies. 

Nippon Yusen decreased 1.2% to ¥4,802.0, Mitsui OSK Lines Ltd. fell 3% to ¥5,129.0, and Kawasaki Kisen Kaisha Ltd. declined 3.2% to ¥1,991.50. 

Seven & I Holdings increased 1% to ¥2,469.50, and Takashimaya Co. Ltd. rose 0.6% to ¥1,238.0, and J Front Retailing edged up 0.01% to ¥1,988.0, and Fast Retailing advanced 0.2% to ¥48,440.0. 

Hong Kong Stocks Rebound On Rate Path Speculation Ahead of China's Fourth Quarter GDP Data

Li Chen
16 Jan, 2025
Hong Kong

Benchmark indexes in China and Hong Kong traded higher, mirroring their peers following a surge on Wall Street in overnight trading in New York. 

The Hang Seng index increased 0.9%, and the mainland-focused CSI 300 index advanced a fraction, reflecting the strength in the U.S. stocks. 

Market indexes in Hong Kong soared in the hopes that the U.S. inflation will continue to slide after December's monthly core rate of inflation declined for the first time in six months. 

The monthly core inflation rate decreased 0.2%, and the annual rate eased to 3.2% from 3.5% in the previous month. 

However, the overall consumer price inflation accelerated for the third month in a row to 2.9% amid a rise in energy prices and the sustained increase in housing costs. 

Despite the elevated inflation, investors focused on the decrease in the monthly inflation rate and bid up stock prices in New York, sparking a rally in Asian markets in Thursday's trading. 

Closer to home, investors are looking forward to the release of fourth quarter GDP growth on Friday. 

China's GDP in the fourth quarter is likely to accelerate to an annual pace of 5.0% from a 4.6% increase in the third quarter, largely driven by a raft of stimulus measures and steps to shore up the faltering property market. 

China Stock Movers 

The Hang Seng index increased 0.9% to 19,445.68, and the CSI 300 index advanced 0.02% to 3,796.80. 

China Hongqiao Group Ltd. increased 4.2% to HK $11.90 after the aluminum producer said it repurchased 5.56 million of its own shares at a total price of HK $63.3 million or $8.1 million. 

The company said it plans to cancel repurchased stocks. 

Property developers in Hong Kong advanced on speculation that mortgage rates could head lower if the U.S. Federal Reserve sticks with its rate-cut plans following the release of December's inflation report. 

Wharf Real Estate Company increased 0.9% to HK $18.76, Link Real Estate Investment Trust advanced 2% to HK $31.90, and Henderson Land Development Company fell 0.5% to HK $21.70. 

Hong Kong Stocks Rebound On Rate Path Speculation Ahead of China's Fourth Quarter GDP Data

Li Chen
16 Jan, 2025
Hong Kong

Benchmark indexes in China and Hong Kong traded higher, mirroring their peers following a surge on Wall Street in overnight trading in New York. 

The Hang Seng index increased 0.9%, and the mainland-focused CSI 300 index advanced a fraction, reflecting the strength in the U.S. stocks. 

Market indexes in Hong Kong soared in the hopes that the U.S. inflation will continue to slide after December's monthly core rate of inflation declined for the first time in six months. 

The monthly core inflation rate decreased 0.2%, and the annual rate eased to 3.2% from 3.5% in the previous month. 

However, the overall consumer price inflation accelerated for the third month in a row to 2.9% amid a rise in energy prices and the sustained increase in housing costs. 

Despite the elevated inflation, investors focused on the decrease in the monthly inflation rate and bid up stock prices in New York, sparking a rally in Asian markets in Thursday's trading. 

Closer to home, investors are looking forward to the release of fourth quarter GDP growth on Friday. 

China's GDP in the fourth quarter is likely to accelerate to an annual pace of 5.0% from a 4.6% increase in the third quarter, largely driven by a raft of stimulus measures and steps to shore up the faltering property market. 

China Stock Movers 

The Hang Seng index increased 0.9% to 19,445.68, and the CSI 300 index advanced 0.02% to 3,796.80. 

China Hongqiao Group Ltd. increased 4.2% to HK $11.90 after the aluminum producer said it repurchased 5.56 million of its own shares at a total price of HK $63.3 million or $8.1 million. 

The company said it plans to cancel repurchased stocks. 

Property developers in Hong Kong advanced on speculation that mortgage rates could head lower if the U.S. Federal Reserve sticks with its rate-cut plans following the release of December's inflation report. 

Wharf Real Estate Company increased 0.9% to HK $18.76, Link Real Estate Investment Trust advanced 2% to HK $31.90, and Henderson Land Development Company fell 0.5% to HK $21.70. 

S&P 500 and Nasdaq Composite Jumped 1% After CPI Report and Blowout Bank Earnings

Barry Adams
15 Jan, 2025
New York City

Stock market indexes rebounded in early trading after consumer price inflation met market expectations and leading financial services companies reported blowout earnings. 

The S&P 500 index increased 1.2%, and the Nasdaq Composite advanced 1.4% after investors welcomed the cooler core inflation in December. 

Consumer price inflation accelerated for the third month in a row to 2.9%, and core inflation, which excludes food and energy prices, slowed to an annual 3.2% from 3.3%, according to the monthly report released by the U.S. Bureau of Labor Statistics. 

The annual rate of inflation accelerated from 2.7% in November, largely because of an increase in energy prices from a lower base in the previous year. 

However, shelter cost continued to advance at 4.6% compared to 4.7%, food inflation accelerated to 2.5% from 2.4%, and transportation inflation advanced to 7.3% from 7.1% annual rate in the previous month. 

On the other hand, prices for used cars and trucks fell at a slower annual pace of 3.3% from 3.4%, and new vehicles eased 0.4% compared to a fall of 0.7% annual pace in the previous month. 

Wall Street indexes advanced after investors focused on the direction of core inflation and overlooked the fact that prices are still rising at a faster rate than the target rate of 2% and from a higher base set by the Federal Reserve. 

On Tuesday, the statistical agency said annual 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%. 

Two inflation reports have been closely watched by investors after nonfarm payrolls expanded at a faster pace of 256,000 in December, confirming a strong jobs market and supporting the case for the Federal Reserve to slow or maybe even eliminate its projected rate cuts in 2025. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 1.3% to 5,918.03, the Nasdaq Composite rose 1.6% to 19,354.95, and the Russell 2000 index inched up by 1.1% to 2,219.24. 

The yield on 2-year Treasury notes edged down to 4.30%, 10-year Treasury notes inched down to 4.70%, and 30-year Treasury bonds declined to 4.92%.

WTI crude oil increased $0.62 to $78.13 a barrel, and natural gas prices edged up 4 cents to $3.99 a thermal unit.

Gold increased by $13.23 to $2,688.56 an ounce, and silver rose by $0.32 to $30.19. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.48 to 108.43 and traded at a two-year high. 

U.S. Stock Movers 

Citigroup Inc. jumped 4.5% to $76.79 after the financial services company reported better-than-expected quarterly results, driven by an increase in revenue in investment banking fixed-income trading. 

The bank announced a $20 billion stock buyback program. 

Goldman Sachs Group jumped 4% to 594.51 after the company reported stronger-than-expected quarterly revenue and earnings. 

The investment bank benefitted from a rebound in investment banking activities and sold income in its fixed-income trading and asset management unit. 

JPMorgan Chase increased 0.8% to $249.40 after the New York-based company reported better-than-expected net interest income, fixed income trading revenue, and investment banking fees. 

Total revenue increased 10% to $43.74 billion, driven by a surge in net interest income to $23.47 billion, fixed-income trading revenue jumped 20% to $5 billion, and investment banking fees soared 49% to $2.48 billion. 

BlackRock Inc. advanced 5% to $1,010.91 after the world's largest asset manager reported fourth-quarter earnings ahead of market expectations. 

Assets under management increased to $11.551 trillion from $11.475 trillion. 

S&P 500 and Nasdaq Composite Jumped 1% After CPI Report and Blowout Bank Earnings

Barry Adams
15 Jan, 2025
New York City

Stock market indexes rebounded in early trading after consumer price inflation met market expectations and leading financial services companies reported blowout earnings. 

The S&P 500 index increased 1.2%, and the Nasdaq Composite advanced 1.4% after investors welcomed the cooler core inflation in December. 

Consumer price inflation accelerated for the third month in a row to 2.9%, and core inflation, which excludes food and energy prices, slowed to an annual 3.2% from 3.3%, according to the monthly report released by the U.S. Bureau of Labor Statistics. 

The annual rate of inflation accelerated from 2.7% in November, largely because of an increase in energy prices from a lower base in the previous year. 

However, shelter cost continued to advance at 4.6% compared to 4.7%, food inflation accelerated to 2.5% from 2.4%, and transportation inflation advanced to 7.3% from 7.1% annual rate in the previous month. 

On the other hand, prices for used cars and trucks fell at a slower annual pace of 3.3% from 3.4%, and new vehicles eased 0.4% compared to a fall of 0.7% annual pace in the previous month. 

Wall Street indexes advanced after investors focused on the direction of core inflation and overlooked the fact that prices are still rising at a faster rate than the target rate of 2% and from a higher base set by the Federal Reserve. 

On Tuesday, the statistical agency said annual 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%. 

Two inflation reports have been closely watched by investors after nonfarm payrolls expanded at a faster pace of 256,000 in December, confirming a strong jobs market and supporting the case for the Federal Reserve to slow or maybe even eliminate its projected rate cuts in 2025. 

U.S. Indexes and Treasury Yields

The S&P 500 index increased 1.3% to 5,918.03, the Nasdaq Composite rose 1.6% to 19,354.95, and the Russell 2000 index inched up by 1.1% to 2,219.24. 

The yield on 2-year Treasury notes edged down to 4.30%, 10-year Treasury notes inched down to 4.70%, and 30-year Treasury bonds declined to 4.92%.

WTI crude oil increased $0.62 to $78.13 a barrel, and natural gas prices edged up 4 cents to $3.99 a thermal unit.

Gold increased by $13.23 to $2,688.56 an ounce, and silver rose by $0.32 to $30.19. 

The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.48 to 108.43 and traded at a two-year high. 

U.S. Stock Movers 

Citigroup Inc. jumped 4.5% to $76.79 after the financial services company reported better-than-expected quarterly results, driven by an increase in revenue in investment banking fixed-income trading. 

The bank announced a $20 billion stock buyback program. 

Goldman Sachs Group jumped 4% to 594.51 after the company reported stronger-than-expected quarterly revenue and earnings. 

The investment bank benefitted from a rebound in investment banking activities and sold income in its fixed-income trading and asset management unit. 

JPMorgan Chase increased 0.8% to $249.40 after the New York-based company reported better-than-expected net interest income, fixed income trading revenue, and investment banking fees. 

Total revenue increased 10% to $43.74 billion, driven by a surge in net interest income to $23.47 billion, fixed-income trading revenue jumped 20% to $5 billion, and investment banking fees soared 49% to $2.48 billion. 

BlackRock Inc. advanced 5% to $1,010.91 after the world's largest asset manager reported fourth-quarter earnings ahead of market expectations. 

Assets under management increased to $11.551 trillion from $11.475 trillion. 

Europe Movers: Hays, Nordex, Serco

Inga Muller
15 Jan, 2025
Frankfurt

Stock market indexes in Europe rebounded and bond yields halted increase after consumer price inflation in the U.K. unexpectedly slowed. 

Germany's GDP contracted for the second year in a row in 2024. 

The DAX index increased by 0.5% to 20,366; the CAC-40 index rose by 0.4% to 7,425.41; and the FTSE 100 index inched higher by 0.7% to 8,254.24.

The yield on 10-year German bonds edged higher to 2.60%, French bonds rose to 3.44%, the UK gilts increased to 4.81%, and Italian bonds edged lower to 3.80%.

Hays PLC advanced 2.8% to 74.45 pence despite the recruitment services provider reporting a decline in revenue in the latest quarter. 

Serco plc increased 1.6% to 149.40 pence after the company won a $247 million contract to provide holistic health and fitness services to 45 U.S. Army brigades spread over 15 locations in the U.S. 

The company recently won a $193 million award from the U.S. Army for transition and counseling services for veterans, a $97 million new five-year contract for program management and support to the Naval Sea Systems Command, and a $33 million contract renewal to provide psychological health outreach support for the US Navy Bureau of Medicine and Surgery. 

Nordex SE increased 3.4% to €12.23 after the German wind turbine maker announced a significant increase in new order flow in 2024. 

New orders increased to 8.34 GW from 7.36 GW in 2023, driven by new customers in Brazil and Europe.