Market Update
Selling Resumes On Wall Street Ahead of Fed's Rate Decisions On Wednesday
Barry Adams
18 Mar, 2025
New York City
Stock market indexes on Wall Street resumed selling after two days of gains, and investors shifted their focus to the monetary policy meeting.
The S&P 500 index decreased 1%, and the Nasdaq Composite dropped 2% ahead of the Federal Reserve's policy decision on Wednesday.
The Fed is widely anticipated to leave its fed funds rate range unrevised between 4.25% and 4.50%, and investors are awaiting accompanying projections on jobless rate, economic growth, and interest rate levels for the year.
The S&P 500 flirted with correction territory, which is considered a decline of 10% from the recent high, and the Nasdaq Composite traded down about 11.5% from the mid-February high.
Both benchmark indexes recovered some of the lost ground over the last four weeks, but they are in losses for 2025, following the chaotic trade policy approach chosen by the Trump administration.
Investors are worried that the Fed will delay its future rate cuts amid expectations of higher inflation and slower economic growth after the Trump administration ramped up its tariff war with Canada, Mexico, and China.
Moreover, the Trump administration has announced additional tariffs starting April 4 on goods shipped by Japan, South Korea, the European Union, and India.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 1.1% to 5,615.69, the Nasdaq Composite edged down 1.8% to 17,491.06, and the Russell 2000 index was down 1% to 2,047.22.
The yield on 2-year Treasury notes edged lower to 4.04%, 10-year Treasury notes decreased to 4.30%, and 30-year Treasury bonds advanced to 4.61%.
WTI crude oil increased $0.38 to $71.45 a barrel, and natural gas prices edged higher by $0.07 to $4.09 a thermal unit.
Gold increased by $29.87 to $3,029.25 an ounce, and silver edged up by $0.28 to $33.03.
The dollar index, which weighs the US currency against a basket of foreign currencies, increased 0.14 to 103.51 and traded at a two-year high.
U.S. Stock Movers
Alphabet Inc. decreased 3.8% to $157.91, and the parent company of Google Search announced it would acquire cloud security company Wiz for $32 billion.
The latest acquisition is the largest purchase made by the company in its history.
Europe Movers: Bollore, Fraport, Marshalls, Trust Pilot, Vinci
Inga Muller
18 Mar, 2025
Frankfurt
VINCI SA gained 0.8% to €118.25 after the provider of concessions, energy, and construction reported fourth quarter of 2024 results.
Revenue increased to €71.62 billion from €68.84 billion, net income jumped to €4.86 billion from €4.70 billion, and diluted earnings per share rose to €8.43 from €8.18 a year ago.
The company proposed a final dividend of €4.75 per share for 2024, following an interim dividend of €1.05 per share paid in October 2024.
As of December 31, 2024, 74% of VINCI’s share capital was held by nearly 1,000 investment funds, located mainly in North America, the U.K., and France, and also continental Europe, the Middle East, Asia, and Oceania.
Trustpilot Group PLC dropped 1.5% to 276.25 pence after the Danish business services provider announced 2024 results and completed its share repurchase program.
Revenue increased 19% to $210.7 million from $176.4 million, income before tax swung to a profit of $5.2 million from a loss of $1.9 million, and diluted earnings per share fell 13% to $1.4 from $1.6 a year ago.
Bookings surged 23% to $239.0 million from $194.6 million a year earlier.
The company purchased 81,397 ordinary shares in accordance with the authorization announced on September 11, 2024, and the company intends to cancel all of the purchased shares.
These purchases complete the buyback program of up to £20 million, and since September the company has purchased 7,473,819 shares for cancellation, at an average price of 267.60 pence per share.
Marshalls Plc. slumped 2.7% to 237.00 pence after the building and roofing products provider reported lower revenue in 2024.
Revenue declined 8% to £619.2 million from £671.2 million, profit jumped to £31.0 million from £18.4 million, and diluted earnings per share rose to 12.2 pence from 7.3 pence a year ago.
The company proposed a final dividend of 5.4 pence per share, payable on July 1 to shareholders on record as of June 6, and shares will be marked ex-dividend on June 5.
Taken together with the interim dividend of 2.6 pence per share, the payout for 2024 would be 8.0 pence per share, compared to 8.3 pence in 2023.
Bollore SE gained 1.5% to €5.81 after the French transportation and logistics company reported a sharp increase in net income, but revenue declined.
Revenue in 2024 declined to €3.13 billion from €3.17 billion, and net income jumped to €1.82 billion from €268 million a year ago.
EBITDA dropped to €48 million from €104 million in 2023.
The company proposed a 14% increase of dividend to 8 cents per share, including an interim dividend of 2 cents per share already paid in September 2024.
Fraport AG dropped 3.12% to €54.35 after the operator of the Frankfurt airport reported a revenue increase in 2024.
Revenue jumped to €4.43 billion from €4.00 billion, net income edged up to €501.9 million from €430.5 million, and diluted earnings per share rose to €4.88 from €4.26 a year ago.
Retail and real estate revenue edged up 7.6% to €536.7 million from a year ago, mainly supported by higher retail and car parking revenue.
Net retail revenue per passenger reached €3.35, a slight improvement on €3.30 in the previous year.
The company said that passenger traffic in Germany is lagging other markets where Fraport is present, with most markets now exceeding pre-pandemic 2019 levels.
Fraport Group said that the planned new Frankfurt Airport Terminal 3 would deliver 12,000 sq.m. of additional retail space, taking the airport total to 42,000 sq.m. by 2026.
The number of passengers in Frankfurt is estimated to reach up to 64 million in 2025, compared to 61.6 million in 2024.
In connection with consulting services at Sydney Airport, Fraport AG founded the subsidiary Fraport Australia Pty Ltd. in December 2024.
Also in December, the joint venture BFA Antalya Havalimani Yiyecek ve İçecek Hizmetleri A.S. was founded with the purpose of the company to operate the food and beverage areas at Antalya Airport in cooperation with BTA Havalimanları Yiyecek ve İçecek Hizmetleri A.S.
In February 2024, the joint venture allivate GmbH was founded, as Fraport acquired 50% of the shares in the company, while Dakosy Datenkommunikationssystem AG holds the remaining 50%.
Dakosy’s activities are in business development, marketing, and distribution of air cargo community systems, and in services connected to the digital transformation of air freight logistics.
Europe Movers: Bollore, Fraport, Marshalls, Trust Pilot, Vinci
Inga Muller
18 Mar, 2025
Frankfurt
VINCI SA gained 0.8% to €118.25 after the provider of concessions, energy, and construction reported fourth quarter of 2024 results.
Revenue increased to €71.62 billion from €68.84 billion, net income jumped to €4.86 billion from €4.70 billion, and diluted earnings per share rose to €8.43 from €8.18 a year ago.
The company proposed a final dividend of €4.75 per share for 2024, following an interim dividend of €1.05 per share paid in October 2024.
As of December 31, 2024, 74% of VINCI’s share capital was held by nearly 1,000 investment funds, located mainly in North America, the U.K., and France, and also continental Europe, the Middle East, Asia, and Oceania.
Trustpilot Group Plc dropped 1.5% to 276.25 pence after the Danish business services provider announced the completion of its share repurchase program.
The company purchased 81,397 ordinary shares for £0.01 each in accordance with the authorization announced on September 11, 2024.
Trustpilot intends to cancel all of the purchased shares.
These purchases complete the buyback program of up to £20 million, and since September the company has purchased 7,473,819 shares for cancellation, at an average price of 267.60 pence per share.
Marshalls Plc. slumped 2.7% to 237.00 pence after the building and roofing products provider reported lower revenue in 2024.
Revenue declined 8% to £619.2 million from £671.2 million, profit jumped to £31.0 million from £18.4 million, and diluted earnings per share rose to 12.2 pence from 7.3 pence a year ago.
The company proposed a final dividend of 5.4 pence per share, payable on July 1 to shareholders on record as of June 6, and shares will be marked ex-dividend on June 5.
Taken together with the interim dividend of 2.6 pence per share, the payout for 2024 would be 8.0 pence per share, compared to 8.3 pence in 2023.
Bollore SE gained 1.5% to €5.81 after the French transportation and logistics company reported a sharp increase in net income, but revenue declined.
Revenue in 2024 declined to €3.13 billion from €3.17 billion, and net income jumped to €1.82 billion from €268 million a year ago.
EBITDA dropped to €48 million from €104 million in 2023.
The company proposed a 14% increase of dividend to 8 cents per share, including an interim dividend of 2 cents per share already paid in September 2024.
Fraport AG dropped 3.12% to €54.35 after the operator of the Frankfurt airport reported a revenue increase in 2024.
Revenue jumped to €4.43 billion from €4.00 billion, net income edged up to €501.9 million from €430.5 million, and diluted earnings per share rose to €4.88 from €4.26 a year ago.
In connection with consulting services at Sydney Airport, Fraport AG founded the subsidiary Fraport Australia Pty Ltd. in December 2024.
Also in December, the joint venture BFA Antalya Havalimani Yiyecek ve İçecek Hizmetleri A.S. was founded with the purpose of the company to operate the food and beverage areas at Antalya Airport in cooperation with BTA Havalimanları Yiyecek ve İçecek Hizmetleri A.S.
In February 2024, the joint venture allivate GmbH was founded, as Fraport acquired 50% of the shares in the company, while Dakosy Datenkommunikationssystem AG holds the remaining 50%.
Dakosy’s activities are in business development, marketing, and distribution of air cargo community systems, and in services connected to the digital transformation of air freight logistics.
Hang Seng Index Jumps to 3-Year High Amid Policy Support Promises and Positive Economic Data
Li Chen
18 Mar, 2025
Hong Kong
Stocks in China and Hong Kong extended gains for the second session in a row this week, following the possible summit between the leaders of the world's two largest economies.
The Hang Seng index advanced more than 2% but the market enthusiasm was more subdued on mainland markets.
Benchmark indexes in Hong Kong closed at a three-year high on the hopes that a potential meeting between leaders of China and the U.S. could ease trade tensions.
Earlier this weekend, China's leading policy makers reiterated their commitment to support consumer spending, stock market, and property market.
The central committee, the State Council, and the national cabinet reiterated their commitment in increasing income by boosting employment and raising minimum wage.
Premier Li Qiang said that China will raise its fiscal deficit target to a record high of 4% of gross domestic product for the current year from 3% in the previous year.
On the economic front, positive data also supported market mood in Monday's trading.
For the two-month period, retail sales increase accelerated to 4% annual rate from 3.7% in December, the National Bureau of Statistics reported earlier in the week.
China's industrial output was 5.9% from a year ago for the period, compared to 6.2% in December, and fixed-asset investment expanded to an annual pace of 4.1%.
In overnight trading in New York, listed Chinese companies soared as investors speculated about easing of tensions.
China Indexes and Stocks
The Hang Seng index advanced 2.5% to 24,740.57, and the CSI 300 index gained 0.3% to 4,007.72.
Baidu Inc. jumped 12% to $103.30, Alibaba Group Holding advanced 5.8% to HK $143.40, and Tencent Holdings gained 3.3% to HK $541.0.
BYD increased 4% to HK $401.40, Li Auto gained 6.8% to HK $112.20, and Xpeng Inc added 1.4% to HK $95.10.
Hang Seng Index Jumps to 3-Year High Amid Policy Support Promises and Positive Economic Data
Li Chen
18 Mar, 2025
Hong Kong
Stocks in China and Hong Kong extended gains for the second session in a row this week, following the possible summit between the leaders of the world's two largest economies.
The Hang Seng index advanced more than 2% but the market enthusiasm was more subdued on mainland markets.
Benchmark indexes in Hong Kong closed at a three-year high on the hopes that a potential meeting between leaders of China and the U.S. could ease trade tensions.
Earlier this weekend, China's leading policy makers reiterated their commitment to support consumer spending, stock market, and property market.
The central committee, the State Council, and the national cabinet reiterated their commitment in increasing income by boosting employment and raising minimum wage.
Premier Li Qiang said that China will raise its fiscal deficit target to a record high of 4% of gross domestic product for the current year from 3% in the previous year.
On the economic front, positive data also supported market mood in Monday's trading.
For the two-month period, retail sales increase accelerated to 4% annual rate from 3.7% in December, the National Bureau of Statistics reported earlier in the week.
China's industrial output was 5.9% from a year ago for the period, compared to 6.2% in December, and fixed-asset investment expanded to an annual pace of 4.1%.
In overnight trading in New York, listed Chinese companies soared as investors speculated about easing of tensions.
China Indexes and Stocks
The Hang Seng index advanced 2.5% to 24,740.57, and the CSI 300 index gained 0.3% to 4,007.72.
Baidu Inc. jumped 12% to $103.30, Alibaba Group Holding advanced 5.8% to HK $143.40, and Tencent Holdings gained 3.3% to HK $541.0.
BYD increased 4% to HK $401.40, Li Auto gained 6.8% to HK $112.20, and Xpeng Inc added 1.4% to HK $95.10.
India Movers: BCL Industries, Cubex Tubings, Emami Paper Mills, Gujarat Pipavav, Lasa Supergenerics, Sanghvi Movers
Arun Goswami
18 Mar, 2025
Mumbai
Cubex Tubings Ltd. rose 1.6% to ₹86.88 after the copper alloy products maker reported a two-fold increase in revenue and earnings in the December quarter.
Consolidated revenue advanced to ₹73.3 crore from ₹38.4 crore, net income jumped to ₹2.2 crore from ₹1 crore, and diluted earnings per share rose to ₹1.5 from 71 paise a year ago.
BCL Industries Ltd. increased 1.8% to ₹36.70 after the agro-processing manufacturing company reported a slight increase in revenue and a 36% decline in profit in the December quarter.
Consolidated revenue advanced to ₹763.4 crore from ₹646.2 crore, net income decreased to ₹21 crore from ₹32.8 crore, and diluted earnings per share declined to 65 paisa from ₹1.20 a year ago.
Lasa Supergenerics Limited fell 2% to ₹21.38 despite the chemicals, APIs, pharmaceuticals, and drugs maker's net income swinging to a profit in the December quarter.
Consolidated revenue advanced to ₹33.2 crore from ₹26.6 crore, net income swung to a profit of ₹5.5 crore from a loss of ₹1.5 crore, and diluted earnings per share rose to an income of ₹1.10 from a loss of 29 paisa a year ago.
Gujarat Pipavav Port Ltd. advanced 3.8% to ₹134.75 despite the developer and operator of Pipavav port reporting a marginal decline in net income and revenue in the December quarter.
Consolidated revenue declined to ₹281.6 crore from ₹288.6 crore, net income decreased to ₹99.3 crore from ₹116 crore, and diluted earnings per share fell to ₹2.06 from ₹2.40 a year ago.
The company's board declared an interim dividend of ₹4 per share.
Emami Paper Mills Ltd. gained 1.7% to ₹89.50 despite the paper and paperboard maker reporting a 96% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹455.8 crore from ₹516.1 crore, net income declined to ₹1.7 crore from ₹39.4 crore, and diluted earnings per share dropped to 8 paisa from ₹4.96 a year ago.
Sanghvi Movers Ltd. edged higher 2.2% to ₹235.10 after the crane rental company reported a slight increase in revenue and a 46% decline in profit in the December quarter.
Consolidated revenue advanced to ₹214.2 crore from ₹173 crore, net income declined to ₹33.1 crore from ₹61.3 crore, and diluted earnings per share fell to ₹3.82 from ₹7.08 a year ago.
Rubfila International Ltd. inched higher 0.7% to ₹70.10 after the rubber thread maker swung to a loss in the December quarter.
Consolidated revenue advanced to ₹118.5 crore from ₹82.9 crore, after-tax losses swung to ₹6.6 crore from a profit of ₹4.6 crore, and diluted earnings per share swung to a loss of ₹1.2 from a profit of 21 paisa a year ago.
Zenith Steel Pipes & Industries Limited jumped 2.4% to ₹6.50 after the electric resistance welded maker said net loss shrank in the December quarter.
Consolidated revenue decreased to ₹36.6 crore from ₹46 crore, net loss declined to ₹20 crore from ₹73 crore, and diluted losses per share remained unchanged from a year ago at breakeven.
India Movers: BCL Industries, Cubex Tubings, Emami Paper Mills, Gujarat Pipavav, Lasa Supergenerics, Sanghvi Movers
Arun Goswami
18 Mar, 2025
Mumbai
Cubex Tubings Ltd. rose 1.6% to ₹86.88 after the copper alloy products maker reported a two-fold increase in revenue and earnings in the December quarter.
Consolidated revenue advanced to ₹73.3 crore from ₹38.4 crore, net income jumped to ₹2.2 crore from ₹1 crore, and diluted earnings per share rose to ₹1.5 from 71 paise a year ago.
BCL Industries Ltd. increased 1.8% to ₹36.70 after the agro-processing manufacturing company reported a slight increase in revenue and a 36% decline in profit in the December quarter.
Consolidated revenue advanced to ₹763.4 crore from ₹646.2 crore, net income decreased to ₹21 crore from ₹32.8 crore, and diluted earnings per share declined to 65 paisa from ₹1.20 a year ago.
Lasa Supergenerics Limited fell 2% to ₹21.38 despite the chemicals, APIs, pharmaceuticals, and drugs maker's net income swinging to a profit in the December quarter.
Consolidated revenue advanced to ₹33.2 crore from ₹26.6 crore, net income swung to a profit of ₹5.5 crore from a loss of ₹1.5 crore, and diluted earnings per share rose to an income of ₹1.10 from a loss of 29 paisa a year ago.
Gujarat Pipavav Port Ltd. advanced 3.8% to ₹134.75 despite the developer and operator of Pipavav port reporting a marginal decline in net income and revenue in the December quarter.
Consolidated revenue declined to ₹281.6 crore from ₹288.6 crore, net income decreased to ₹99.3 crore from ₹116 crore, and diluted earnings per share fell to ₹2.06 from ₹2.40 a year ago.
The company's board declared an interim dividend of ₹4 per share.
Emami Paper Mills Ltd. gained 1.7% to ₹89.50 despite the paper and paperboard maker reporting a 96% plunge in quarterly profit from a year ago.
Consolidated revenue decreased to ₹455.8 crore from ₹516.1 crore, net income declined to ₹1.7 crore from ₹39.4 crore, and diluted earnings per share dropped to 8 paisa from ₹4.96 a year ago.
Sanghvi Movers Ltd. edged higher 2.2% to ₹235.10 after the crane rental company reported a slight increase in revenue and a 46% decline in profit in the December quarter.
Consolidated revenue advanced to ₹214.2 crore from ₹173 crore, net income declined to ₹33.1 crore from ₹61.3 crore, and diluted earnings per share fell to ₹3.82 from ₹7.08 a year ago.
Rubfila International Ltd. inched higher 0.7% to ₹70.10 after the rubber thread maker swung to a loss in the December quarter.
Consolidated revenue advanced to ₹118.5 crore from ₹82.9 crore, after-tax losses swung to ₹6.6 crore from a profit of ₹4.6 crore, and diluted earnings per share swung to a loss of ₹1.2 from a profit of 21 paisa a year ago.
Zenith Steel Pipes & Industries Limited jumped 2.4% to ₹6.50 after the electric resistance welded maker said net loss shrank in the December quarter.
Consolidated revenue decreased to ₹36.6 crore from ₹46 crore, net loss declined to ₹20 crore from ₹73 crore, and diluted losses per share remained unchanged from a year ago at breakeven.
Wall Street Indexes Attempt to Rebound, Retail Sales In February Advance
Barry Adams
17 Mar, 2025
New York City
Wall Street attempted to rebound in Monday's trading following a four-week rout that knocked off key indexes in correction territory last Thursday.
The S&P 500 index edged higher after flirting with correction at the close of Thursday, but the benchmark index rebounded 2% in Friday's trading as investors returned to search for bargains in tech stocks.
The tech-heavy Nasdaq Composite advanced for the second session in a row amid demand for artificial intelligence-linked stocks and cloud computing service providers.
As of Friday's close, the Nasdaq is still down about 11%, and the S&P 500 is down about 9% from its high in mid-February, respectively.
Market sentiment recovered in Monday's trading after retail and food services sales rose in February.
Retail and food services sales, adjusted for seasonal variations but not for inflation, increased 0.2% from the previous month and rose 3.1% from a year ago to $722.7 billion, according to a report released by the U.S. Census Bureau.
Retail trade sales were up 0.5% from the previous month and up 3.4% from last year; food and beverage stores were up 3.9% from last year, while nonstore retailers were up 6.5% from February 2024.
In the week ahead, the Federal Reserve is expected to hold steady the federal funds rate range between 4.25% and 4.50%, extending the pause in its rate cycle that began in January.
The Federal Reserve will also release its estimates of GDP growth, jobless rate, inflation, and interest rates.
Investors are also looking forward to the release of industrial production, existing home sales, and housing starts and completions.
On the earnings front, investors are awaiting updates from Signet Jewelers, Five Below, Progressive Corp., Getty Images, FedEx, Nike, Accenture, Lennar, Carnival Corp., Micron Technology, and General Mills.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,659.71, the Nasdaq Composite edged up 0.2% to 17,770.43, and the Russell 2000 index was up 0.3% to 2,049.49.
The yield on 2-year Treasury notes edged higher to 4.05%, 10-year Treasury notes decreased to 4.31%, and 30-year Treasury bonds declined to 4.59%.
WTI crude oil increased $0.58 to $67.76 a barrel, and natural gas prices edged lower by $0.05 to $4.05 a thermal unit.
Gold increased by $4.53 to $2,987.36 an ounce, and silver edged down by $0.33 to $33.44.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.17 to 103.55 and traded at a two-year high.
U.S. Stock Movers
Charles Schwab Corp. surged 4.9% to $77.11 after the financial services company released its monthly activity report for February.
Core net new assets brought to the company by new and existing clients totaled $48.0 billion, an increase of 44% from $33.4 billion a year ago.
Total client assets equaled $10.28 trillion as of month-end, up 16% from $8.88 trillion in February 2024 and down 1% from $10.33 trillion in January 2025.
New brokerage accounts opened during the month totaled 362,000, representing the fifteenth consecutive month of at least 300,000 new account openings.
February daily average trades rose 1% month-over-month to 7.45 million, driven by a continued interest in equity securities.
Transactional sweep cash increased by $4.7 billion to end February at $404.3 billion, compared to $399.6 billion in January 2025 and compared to $403.2 billion in February 2024.
Buckle Inc. gained 2.8% to $36.13 despite the fashion retailer reporting declining sales in the fourth quarter of 2024.
Sales edged down to $379.20 million from $382.38 million, net income fell to $77.20 million from $79.58 million, and diluted earnings per share dropped to $1.53 from $1.59 a year ago.
Sales in the full year decreased to $1.22 billion from $1.26 billion, net income fell to $195.47 million from $219.92 million, and diluted earnings per share edged down to $3.89 from $4.40 a year ago.
Wall Street Indexes Attempt to Rebound, Retail Sales In February Advance
Barry Adams
17 Mar, 2025
New York City
Wall Street attempted to rebound in Monday's trading following a four-week rout that knocked off key indexes in correction territory last Thursday.
The S&P 500 index edged higher after flirting with correction at the close of Thursday, but the benchmark index rebounded 2% in Friday's trading as investors returned to search for bargains in tech stocks.
The tech-heavy Nasdaq Composite advanced for the second session in a row amid demand for artificial intelligence-linked stocks and cloud computing service providers.
As of Friday's close, the Nasdaq is still down about 11%, and the S&P 500 is down about 9% from its high in mid-February, respectively.
Market sentiment recovered in Monday's trading after retail and food services sales rose in February.
Retail and food services sales, adjusted for seasonal variations but not for inflation, increased 0.2% from the previous month and rose 3.1% from a year ago to $722.7 billion, according to a report released by the U.S. Census Bureau.
Retail trade sales were up 0.5% from the previous month and up 3.4% from last year; food and beverage stores were up 3.9% from last year, while nonstore retailers were up 6.5% from February 2024.
In the week ahead, the Federal Reserve is expected to hold steady the federal funds rate range between 4.25% and 4.50%, extending the pause in its rate cycle that began in January.
The Federal Reserve will also release its estimates of GDP growth, jobless rate, inflation, and interest rates.
Investors are also looking forward to the release of industrial production, existing home sales, and housing starts and completions.
On the earnings front, investors are awaiting updates from Signet Jewelers, Five Below, Progressive Corp., Getty Images, FedEx, Nike, Accenture, Lennar, Carnival Corp., Micron Technology, and General Mills.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.4% to 5,659.71, the Nasdaq Composite edged up 0.2% to 17,770.43, and the Russell 2000 index was up 0.3% to 2,049.49.
The yield on 2-year Treasury notes edged higher to 4.05%, 10-year Treasury notes decreased to 4.31%, and 30-year Treasury bonds declined to 4.59%.
WTI crude oil increased $0.58 to $67.76 a barrel, and natural gas prices edged lower by $0.05 to $4.05 a thermal unit.
Gold increased by $4.53 to $2,987.36 an ounce, and silver edged down by $0.33 to $33.44.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.17 to 103.55 and traded at a two-year high.
U.S. Stock Movers
Charles Schwab Corp. surged 4.9% to $77.11 after the financial services company released its monthly activity report for February.
Core net new assets brought to the company by new and existing clients totaled $48.0 billion, an increase of 44% from $33.4 billion a year ago.
Total client assets equaled $10.28 trillion as of month-end, up 16% from $8.88 trillion in February 2024 and down 1% from $10.33 trillion in January 2025.
New brokerage accounts opened during the month totaled 362,000, representing the fifteenth consecutive month of at least 300,000 new account openings.
February daily average trades rose 1% month-over-month to 7.45 million, driven by a continued interest in equity securities.
Transactional sweep cash increased by $4.7 billion to end February at $404.3 billion, compared to $399.6 billion in January 2025 and compared to $403.2 billion in February 2024.
Buckle Inc. gained 2.8% to $36.13 despite the fashion retailer reporting declining sales in the fourth quarter of 2024.
Sales edged down to $379.20 million from $382.38 million, net income fell to $77.20 million from $79.58 million, and diluted earnings per share dropped to $1.53 from $1.59 a year ago.
Sales in the full year decreased to $1.22 billion from $1.26 billion, net income fell to $195.47 million from $219.92 million, and diluted earnings per share edged down to $3.89 from $4.40 a year ago.
European Markets Edged Higher Ahead of Monetary Policy Decisions from Central Banks This Week
Bridgette Randall
17 Mar, 2025
London
European markets lacked direction in Monday's trading, but the key indexes stayed above the flatline.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced ahead of monetary policy decisions from the U.S., the UK, and Japan.
The central banks in the U.S. and Japan are likely to hold rates steady, but the elevated tariff tensions are likely to convince policymakers to reevaluate their views on inflation in the near future.
In Europe, the Bank of England is widely expected to hold rates steady at 4.5%, the Swiss National Bank is expected to cut its rate by 25 basis points, but the Swede’s Riksbank is likely to hold rates steady, possibly ending its current easing cycle.
Investors are also looking ahead to the release of inflation for the Euro Area, Germany, and France.
On the earnings front, investors are looking forward to the results from Audi, Hapag-Lloyd, Fraport, Aeroports de Paris, Bollore, RWE, Salzgitter, RTL Group, TOD’s S.p.A., Trustpilot Group, and JD Wetherspoon plc.
In addition, German lawmakers are likely to approve a constitutional amendment, which will allow the new coalition government to ramp up debt-driven infrastructure spending and exclude additional military spending needed to build up arm production.
European leaders agreed to increase spending for arms after the U.S. signaled its lack of willingness to provide continued military support and pushed Ukraine to meet a 30-day ceasefire with Russia.
Russia's president, Vladimir Putin, rejected the U.S.-backed proposal for the ceasefire but showed his willingness to continue diplomatic talks, signaling that the country may be willing to strike a deal in the near future.
Europe Indexes and Yields
The DAX index increased by 0.3% to 23,055.10, the CAC-40 index edged higher 0.4% to 8,058.16, and the FTSE 100 index advanced by 0.1% to 8,643.63.
The yield on 10-year German bonds inched lower to 2.81%, French bonds decreased to 3.49%, the UK gilts moved down to 4.66%, and Italian bonds edged lower to 3.87%.
The euro increased to $1.09; the British pound was higher at $1.29; and the U.S. dollar was lower and traded at 88.29 Swiss cents.
Brent crude increased $0.69 to $71.27 a barrel, and the Dutch TTF natural gas was lower by €0.50 to €41.74 per MWh.
Europe Stock Movers
Nordex SE jumped 3.9% to €16.87 after the wind turbine company received an order for 16 turbines from a wind energy project developer.
Marshalls plc dropped 3.9% to 234.0 pence, and the UK-based roofing and landscaping product company reported an 8% decline in revenue from a year ago in 2024.
Phoenix Group Holdings PLC jumped 9.9% to 574.25 pence, and the UK-based insurance company's adjusted earnings in 2024 surpassed market expectations.
AstraZeneca plc decreased 0.6% to 11,926.0 pence, and the UK-based pharmaceutical company agreed to acquire Belgian biotech firm EsoBiotec for up to $1 billion.
European Markets Edged Higher Ahead of Monetary Policy Decisions from Central Banks This Week
Bridgette Randall
17 Mar, 2025
London
European markets lacked direction in Monday's trading, but the key indexes stayed above the flatline.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced ahead of monetary policy decisions from the U.S., the UK, and Japan.
The central banks in the U.S. and Japan are likely to hold rates steady, but the elevated tariff tensions are likely to convince policymakers to reevaluate their views on inflation in the near future.
In Europe, the Bank of England is widely expected to hold rates steady at 4.5%, the Swiss National Bank is expected to cut its rate by 25 basis points, but the Swede’s Riksbank is likely to hold rates steady, possibly ending its current easing cycle.
Investors are also looking ahead to the release of inflation for the Euro Area, Germany, and France.
On the earnings front, investors are looking forward to the results from Audi, Hapag-Lloyd, Fraport, Aeroports de Paris, Bollore, RWE, Salzgitter, RTL Group, TOD’s S.p.A., Trustpilot Group, and JD Wetherspoon plc.
In addition, German lawmakers are likely to approve a constitutional amendment, which will allow the new coalition government to ramp up debt-driven infrastructure spending and exclude additional military spending needed to build up arm production.
European leaders agreed to increase spending for arms after the U.S. signaled its lack of willingness to provide continued military support and pushed Ukraine to meet a 30-day ceasefire with Russia.
Russia's president, Vladimir Putin, rejected the U.S.-backed proposal for the ceasefire but showed his willingness to continue diplomatic talks, signaling that the country may be willing to strike a deal in the near future.
Europe Indexes and Yields
The DAX index increased by 0.3% to 23,055.10, the CAC-40 index edged higher 0.4% to 8,058.16, and the FTSE 100 index advanced by 0.1% to 8,643.63.
The yield on 10-year German bonds inched lower to 2.81%, French bonds decreased to 3.49%, the UK gilts moved down to 4.66%, and Italian bonds edged lower to 3.87%.
The euro increased to $1.09; the British pound was higher at $1.29; and the U.S. dollar was lower and traded at 88.29 Swiss cents.
Brent crude increased $0.69 to $71.27 a barrel, and the Dutch TTF natural gas was lower by €0.50 to €41.74 per MWh.
Europe Stock Movers
Nordex SE jumped 3.9% to €16.87 after the wind turbine company received an order for 16 turbines from a wind energy project developer.
Marshalls plc dropped 3.9% to 234.0 pence, and the UK-based roofing and landscaping product company reported an 8% decline in revenue from a year ago in 2024.
Phoenix Group Holdings PLC jumped 9.9% to 574.25 pence, and the UK-based insurance company's adjusted earnings in 2024 surpassed market expectations.
AstraZeneca plc decreased 0.6% to 11,926.0 pence, and the UK-based pharmaceutical company agreed to acquire Belgian biotech firm EsoBiotec for up to $1 billion.
U.S. Movers: Buckle, Charles Schwab, Emerald Holding, Li Auto
Scott Peters
17 Mar, 2025
New York City
Emerald Holding Inc. surged 12% to $4.09 after the producer of trade shows and their associated conferences, content, and commerce reported higher revenue in the fourth quarter of 2024.
Revenue increased 5.2% to $106.8 million from $101.5 million, net income rose to $5.1 million from a loss of $17.9 million, and diluted earnings per share edged up to 3 cents from a loss of 46 cents a year ago.
The company repurchased 1,776,884 shares for $8.4 million in the quarter at an average price of $4.68 per share.
The company extended its share repurchase program for the repurchase of $25 million through December 31, 2025.
Since the restart of the share repurchase program in 2021 through December 31, 2024, the company has bought back a total of 13.3 million shares for $53.7 million.
In February 2025, Emerald proposed a dividend for the quarter ending March 31 of $0.015 per share, payable on March 20 to shareholders on record as of March 10.
Following quarter end, the company agreed to acquire This is Beyond, the UK-based architect of luxury travel B2B trade shows, and completed the acquisition of Insurtech Insights, an operator of large-scale insurance technology conferences across the U.S., Europe, and Asia.
“These strategic acquisitions expand and diversify our portfolio, reinforcing Emerald’s leadership in high-value, growth-oriented industries while sharpening our competitive position,” the company said in a release to investors.
Emerald guided full-year revenue to be between $450 million and $460 million, up from $398.8 million in 2024, and adjusted EBITDA between $120 million and $125 million, up from $101.7 million a year ago.
Charles Schwab Corp. surged 4.9% to $77.11 after the financial services company released its monthly activity report for February.
Core net new assets brought to the company by new and existing clients totaled $48.0 billion, an increase of 44% from $33.4 billion a year ago.
Total client assets equaled $10.28 trillion as of month-end, up 16% from $8.88 trillion in February 2024 and down 1% from $10.33 trillion in January 2025.
New brokerage accounts opened during the month totaled 362,000, representing the fifteenth consecutive month of at least 300,000 new account openings.
February daily average trades rose 1% month-over-month to 7.45 million, driven by a continued interest in equity securities.
Transactional sweep cash increased by $4.7 billion to end February at $404.3 billion, compared to $399.6 billion in January 2025 and compared to $403.2 billion in February 2024.
Buckle Inc. gained 2.8% to $36.13 despite the fashion retailer reporting declining sales in the fourth quarter of 2024.
Sales edged down to $379.20 million from $382.38 million, net income fell to $77.20 million from $79.58 million, and diluted earnings per share dropped to $1.53 from $1.59 a year ago.
Sales in the full year decreased to $1.22 billion from $1.26 billion, net income fell to $195.47 million from $219.92 million, and diluted earnings per share edged down to $3.89 from $4.40 a year ago.
Li Auto Inc. dropped 1.1% to $27.15 after the Chinese automaker reported higher vehicle sales in the fourth quarter of 2024.
Revenue increased 6.1% to 44.27 billion yuan from 41.73 billion yuan, net income edged down 38.6% to $3.53 billion yuan from $5.75 billion yuan, and diluted earnings per share fell 37.8% to 3.31 yuan from 5.32 yuan a year ago.
Sales for the full year jumped 16.6% to 144.46 billion yuan from 123.85 billion, net income slumped 31.9% to 8.04 billion from 11.81 billion, and diluted earnings per share fell 31.7% to 7.58 yuan from 11.10 yuan a year ago.
U.S. Movers: Buckle, Charles Schwab, Emerald Holding, Li Auto
Scott Peters
17 Mar, 2025
New York City
Europe Movers: BMW, Daimler Truck Holding, DeLonghi, Trainline
Inga Muller
17 Mar, 2025
Frankfurt
BMW AG traded flat at €82.10 after the German luxury automaker reported lower sales in 2024 amid subdued demand in China.
Revenue declined to €142.38 billion from €155.50 billion, net profit slumped to €7.68 billion from €12.16 billion, and diluted earnings per share fell to €11.62 from €17.67 a year ago.
The company lowered its annual dividend to €4.30 per share from €6.00 per share in 2023.
Sales in the fourth quarter edged down 15% to €36.4 billion from €43 billion, net income fell 41% to €1.6 billion from €2.6 billion, and earnings per share declined 36% to €2.41 from €3.77 a year ago.
Daimler Truck Holding AG gained 0.2% to €39.06 after the German vehicle maker reported lower revenue in 2024.
Revenue decreased 3% to €54.1 billion from €55.9 billion, adjusted EBIT declined 15% to €4.67 billion from €5.49 billion, and earnings per share dropped to €3.64 from €4.62 a year ago.
Daimler Truck sold 460,409 vehicles worldwide in 2024, 12% less compared to 526,053 units in the previous year.
Unit sales of battery-electric trucks and buses increased significantly by 17% to 4,035 vehicles from 3,443 vehicles a year ago.
Incoming orders declined by 2% in 2024 to 417,131 units, compared to 426,910 units in the prior year, impacted by the declining demand in the EU30 region and weaker market demand in India, Indonesia, and other Asian markets.
However, new orders in the fourth quarter increased significantly by 15% compared to the same period in 2023, driven by a positive development in the segments Mercedes-Benz Trucks and Trucks Asia.
The company proposed a dividend of €1.90 per share, unchanged from the previous year, to the annual general meeting on May 27.
In addition, the second tranche of the share buyback program announced in mid-2023 was launched in September 2024 and is expected to be completed by August 1, 2025.
Daimler Truck guided for 2025 unit sales to be between 460,000 units and 480,000 units, compared to 460,409 units in 2024.
The revenue for the industrial business is estimated to range between €52 billion and €54 billion, and the adjusted EBIT is expected to increase between 5% and 15% compared to 2024.
DeLonghi S.p.A. dropped 3.6% to €30.88 despite the Italian small appliances manufacturer reporting higher sales in 2024.
Revenue jumped 13.7% to €3.50 billion from €3.07 billion, and profit edged up 24.1% to €310.7 million from €250.4 million a year ago.
Sales in the fourth quarter increased 17.6% to €1.27 billion from €1.08 billion a year ago.
Same-store sales surged 11.1% in the quarter and were up 6.6% for the full year.
The company proposed a total dividend of €1.25 per share, an increase of 87% from the previous year, corresponding to a payout ratio of around 60%.
The payment of the ordinary part of the dividend equal to 83 cents will be on May 20, and the additional 42 cents will be credited with the record date September 23.
“The recent growth trends, confirmed also in the first months of the year, lead us to estimate a turnover for 2025 expanding between 5% and 7%, supported by the launch of new products and investments in communication,” the company said in a release to investors.
In terms of margins, the company expects an adjusted EBITDA to be between €580 million and €600 million, compared to €559.8 million in 2024, considering the current volatility with the U.S. tariffs.
Trainline Plc gained 2% to 270.60 pence after the rail and coach travel platform operator reported higher sales in fiscal 2025 ending in February.
Net ticket sales jumped 12% to £5.91 billion from £5.29 billion, and revenue increased 11% to £442 million from £397 million a year ago.
The company announced an additional share buyback of up to £75 million.
Trainline will publish its full year 2025 results on May 7.
Europe Movers: BMW, Daimler Truck Holding, DeLonghi, Trainline
Inga Muller
17 Mar, 2025
Frankfurt
BMW AG traded flat at €82.10 after the German luxury automaker reported lower sales in 2024 amid subdued demand in China.
Revenue declined to €142.38 billion from €155.50 billion, net profit slumped to €7.68 billion from €12.16 billion, and diluted earnings per share fell to €11.62 from €17.67 a year ago.
The company lowered its annual dividend to €4.30 per share from €6.00 per share in 2023.
Sales in the fourth quarter edged down 15% to €36.4 billion from €43 billion, net income fell 41% to €1.6 billion from €2.6 billion, and earnings per share declined 36% to €2.41 from €3.77 a year ago.
Daimler Truck Holding AG gained 0.2% to €39.06 after the German vehicle maker reported lower revenue in 2024.
Revenue decreased 3% to €54.1 billion from €55.9 billion, adjusted EBIT declined 15% to €4.67 billion from €5.49 billion, and earnings per share dropped to €3.64 from €4.62 a year ago.
Daimler Truck sold 460,409 vehicles worldwide in 2024, 12% less compared to 526,053 units in the previous year.
Unit sales of battery-electric trucks and buses increased significantly by 17% to 4,035 vehicles from 3,443 vehicles a year ago.
Incoming orders declined by 2% in 2024 to 417,131 units, compared to 426,910 units in the prior year, impacted by the declining demand in the EU30 region and weaker market demand in India, Indonesia, and other Asian markets.
However, new orders in the fourth quarter increased significantly by 15% compared to the same period in 2023, driven by a positive development in the segments Mercedes-Benz Trucks and Trucks Asia.
The company proposed a dividend of €1.90 per share, unchanged from the previous year, to the annual general meeting on May 27.
In addition, the second tranche of the share buyback program announced in mid-2023 was launched in September 2024 and is expected to be completed by August 1, 2025.
Daimler Truck guided for 2025 unit sales to be between 460,000 units and 480,000 units, compared to 460,409 units in 2024.
The revenue for the industrial business is estimated to range between €52 billion and €54 billion, and the adjusted EBIT is expected to increase between 5% and 15% compared to 2024.
DeLonghi S.p.A. dropped 3.6% to €30.88 despite the Italian small appliances manufacturer reporting higher sales in 2024.
Revenue jumped 13.7% to €3.50 billion from €3.07 billion, and profit edged up 24.1% to €310.7 million from €250.4 million a year ago.
Sales in the fourth quarter increased 17.6% to €1.27 billion from €1.08 billion a year ago.
Same-store sales surged 11.1% in the quarter and were up 6.6% for the full year.
The company proposed a total dividend of €1.25 per share, an increase of 87% from the previous year, corresponding to a payout ratio of around 60%.
The payment of the ordinary part of the dividend equal to 83 cents will be on May 20, and the additional 42 cents will be credited with the record date September 23.
“The recent growth trends, confirmed also in the first months of the year, lead us to estimate a turnover for 2025 expanding between 5% and 7%, supported by the launch of new products and investments in communication,” the company said in a release to investors.
In terms of margins, the company expects an adjusted EBITDA to be between €580 million and €600 million, compared to €559.8 million in 2024, considering the current volatility with the U.S. tariffs.
Trainline Plc gained 2% to 270.60 pence after the rail and coach travel platform operator reported higher sales in fiscal 2025 ending in February.
Net ticket sales jumped 12% to £5.91 billion from £5.29 billion, and revenue increased 11% to £442 million from £397 million a year ago.
The company announced an additional share buyback of up to £75 million.
Trainline will publish its full year 2025 results on May 7.