Market Update
Wall Street Indexes Meander Ahead of Rate Decisions, International Goods Deficit Hit New High in 2024
Barry Adams
29 Jan, 2025
New York City
Stock market indexes struggled to advance, and investors awaited rate decisions later in the day.
The S&P 500 index decreased 0.2%, and the Nasdaq Composite declined 0.4% as investors shifted their attention to the latest batch of corporate results.
ASML, Logitech, and SAP reported better-than-expected results, and investors are awaiting the release of earnings updates from Microsoft, Starbucks, Tesla, and Meta Platform.
The Federal Reserve is likely to hold rates steady, and the fed funds rate range is expected to stay unchanged between 4.25% and 4.50% at the end of a two-day meeting later today.
The Federal Reserve is set to release its statement at 2:30 p.m. ET, and investors are hoping that policymakers are likely to signal no change in stance.
The U.S. economy has been growing at a healthy clip over the last four years; labor market conditions have moderated, but employers are still adding jobs at a healthy clip.
Moreover, wages are still rising at a faster pace than overall inflation, driving an increase in real consumer income and supporting the increase in consumer spending.
However, the U.S. economy is facing higher inflation, largely driven by looming Trump tariffs and labor shortages created by the nationwide crackdown on illegal immigrants.
In addition, chaotic presidential administration and weak cabinet appointments are likely to negatively impact consumer confidence and possible federal government shutdown.
On the economic front, the U.S. goods trade deficit soared to $1.2 trillion in 2024, slightly higher than the previous record of $1.06 trillion in 2022, the U.S. Census Bureau reported Wednesday.
December exports decreased 4.5% from a year ago to $167.5 billion, and imports rose 3.9% to $289.6 billion.
The international goods trade deficit expanded by 18% to $122.1 billion from the revised $103.5 billion in November.
U.S. Stock Movers
Nvidia declined 2.2% to $126.14 and struggled to advance amid continued rout in the artificial intelligence-related stocks after the emergence of a cheaper chatbot alternative from China that does not rely on expensive chips made by the company.
T-Mobile US jumped 7.6% to $238.0 after the cellular telephone service provider reported stronger-than-expected results in its latest quarter.
Danaher Corp declined 5% to $235.20 after the medical and industrial products maker estimated possible revenue decline in the current quarter.
Starbucks jumped 2.6% to $103.09 after the coffeehouse chain reported better-than-expected results, but same-store sales decreased in the quarter.
Europe Movers: Akzo Nobel, Atlas Copco, Givaudan, LVMH, Logitech, Lonza Group, Remi Cointreau, Tele2, WH Smith, Wacker Chemie
Inga Muller
29 Jan, 2025
Frankfurt
European markets rebounded and trimmed weekly losses as investors shifted their focus away from geopolitical tensions to the latest batch of corporate results.
Sweden lowered its policy rate for the fifth time in a row. Spain's fourth-quarter GDP growth surpassed expectations.
The DAX index moved higher by 0.4% to 21,505.42; the CAC-40 index fell 0.4% to 7,865.95; and the FTSE 100 index advanced by 0.02% to 8,535.75.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.28%, the UK gilts moved down to 4.58%, and Italian bonds edged lower to 3.61%.
Logitech gained 0.4% to CHF 82.68 after the Swiss computer accessories maker posted mixed earnings for the third quarter of fiscal year 2025.
Net sales in the quarter ending in December increased to $1.34 billion from $1.26 billion; net income dropped to $200 million from $244.7 million, and earnings per diluted share fell to $1.32 from $1.55 a year ago.
Gaming sales surged 14% and tablet accessories sales were up 21%.
The company returned $200 million of cash to shareholders through share repurchases.
Atlas Copco Group plunged 3.5% to 180.40 krona after the Swedish industrial manufacturer posted earnings for the fourth quarter ending in December.
Revenue increased to 45.99 million krona from 44.95 million krona; profit surged to 7.80 million krona from 6.78 million krona, and earnings per diluted share rose to 1.60 krona from 1.39 krona a year ago.
Net cash from operating activities climbed to 11.76 million krona from 10.31 million krona, bringing the total cash and cash equivalents to 18.97 million krona from 10.89 million krona a year ago.
LVMH eased 0.6% to €750.6 after the luxury goods retailer posted a slight revenue decline for the full year 2024 ending in December.
Revenue declined 2% to €84.68 million from €86.15 million; net profit moved down to €12.55 million from €15.17 million a year ago, driven by a 36% plunge in wine and spirits sales.
The company proposed to pay a dividend of €7.50 per share on April 28.
Remy Cointreau SA edged down 2.8% to €58.20 after the French alcohol beverages distributor posted lower earnings for its third quarter ending in December.
Sales in the Americas and Asia-Pacific declined, reflecting tougher market conditions in China, while Southeast Asia sales rebounded.
In the first nine months of 2024-25, the company reported sales of €787.8 million, down 17.8% on an organic basis.
The overall performance includes an organic decline of 21.5% in the third quarter, or 20.6% as reported.
Akzo Nobel NV traded flat at €60.52 after the Dutch paints and performance coatings maker posted mixed earnings for the fourth quarter ending in December.
Revenue increased 4% to €2.62 billion from €2.53 billion; net income slipped to €21 million from €41 million, and earnings per share fell to 12 euro cents from 24 euro cents a year ago.
Net cash from operating activities declined to €398 million from €574 million, impacted by restructuring costs.
Tele2 edged up 0.6% to 115.20 krona after the Swedish streaming TV and networking company posted strong earnings for the fourth quarter ending in December.
Revenue increased 1.3% to 7.78 billion krona from 7.68 billion krona; net profit surged to 971 million krona from 936 million krona, and earnings per diluted share rose to 1.39 krona from 1.34 krona a year ago.
Equity free cash flow climbed to 808 million krona from 531 million krona a year earlier.
Lonza Group AG traded flat at CHF594.60 after the Swiss pharmaceutical and nutrition products provider posted mild earnings for the year ending in December.
Sales were down 2.1% to CHF6.57 billion from CHF6.72 billion; profit declined 2.7% to CHF637 million from CHF655 million, and earnings per diluted share edged down to CHF8.88 from CHF8.92 a year ago.
The company posted a significant increase of net debts, driven by acquisitions and divestitures.
WH Smith Plc gained 5.7% to 1,258 pence after the British books and travel retailer posted growth for the 21-week period to January 25.
Comparable sales surged 3% in North America, driven by new product categories and additional stores at Orlando. Florida and Portland, Oregon, airports.
Wacker Chemie AG gained 1.9% to €65.76 despite the German chemical company reporting a core profit decline on lower prices and high energy costs.
Sales in the fiscal year 2024 ending in December declined 11% to €5.7 billion from €6.4 billion; net income fell 19% to €265 million from €327 million, and earnings per share dropped to €4.90 from €6.31 a year ago.
Net cash flow swung to negative €325 million from positive €166 million, driven by a significantly higher net debt.
Givaudan SA eased 0.3% to CHF4.024 after the cosmetics ingredients maker topped forecasts with strong growth for fiscal year 2024 ending in December.
Group sales increased 7.2% to CHF 7.41 billion from CHF 2.69 billion; net income surged 22.1% to CHF 1.09 billion from CHF 893 million, and earnings per share rose to CHF 118.17 from CHF 96.81 a year ago.
Free cash flow climbed by 25.9% and net debt was 7% lower, driven by a 12.3% growth in overall comparable sales.
Europe Movers:
Inga Muller
29 Jan, 2025
Frankfurt
European markets rebounded and trimmed weekly losses as investors shifted their focus away from geopolitical tensions to the latest batch of corporate results.
Sweden lowered its policy rate for the fifth time in a row. Spain's fourth-quarter GDP growth surpassed expectations.
The DAX index moved higher by 0.4% to 21,505.42; the CAC-40 index fell 0.4% to 7,865.95; and the FTSE 100 index advanced by 0.02% to 8,535.75.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.28%, the UK gilts moved down to 4.58%, and Italian bonds edged lower to 3.61%.
Logitech gained 0.4% to CHF 82.68 after the Swiss computer accessories maker posted mixed earnings for the third quarter of fiscal year 2025.
Net sales in the quarter ending in December increased to $1.34 billion from $1.26 billion; net income dropped to $200 million from $244.7 million, and earnings per diluted share fell to $1.32 from $1.55 a year ago.
Gaming sales surged 14% and tablet accessories sales were up 21%.
The company returned $200 million of cash to shareholders through share repurchases.
Atlas Copco Group plunged 3.5% to 180.40 krona after the Swedish industrial manufacturer posted earnings for the fourth quarter ending in December.
Revenue increased to 45.99 million krona from 44.95 million krona; profit surged to 7.80 million krona from 6.78 million krona, and earnings per diluted share rose to 1.60 krona from 1.39 krona a year ago.
Net cash from operating activities climbed to 11.76 million krona from 10.31 million krona, bringing the total cash and cash equivalents to 18.97 million krona from 10.89 million krona a year ago.
LVMH eased 0.6% to €750.6 after the luxury goods retailer posted a slight revenue decline for the full year 2024 ending in December.
Revenue declined 2% to €84.68 million from €86.15 million; net profit moved down to €12.55 million from €15.17 million a year ago, driven by a 36% plunge in wine and spirits sales.
The company proposed to pay a dividend of €7.50 per share on April 28.
Remy Cointreau SA edged down 2.8% to €58.20 after the French alcohol beverages distributor posted lower earnings for its third quarter ending in December.
Sales in the Americas and Asia-Pacific declined, reflecting tougher market conditions in China, while Southeast Asia sales rebounded.
In the first nine months of 2024-25, the company reported sales of €787.8 million, down 17.8% on an organic basis.
The overall performance includes an organic decline of 21.5% in the third quarter, or 20.6% as reported.
Akzo Nobel NV traded flat at €60.52 after the Dutch paints and performance coatings maker posted mixed earnings for the fourth quarter ending in December.
Revenue increased 4% to €2.62 billion from €2.53 billion; net income slipped to €21 million from €41 million, and earnings per share fell to 12 euro cents from 24 euro cents a year ago.
Net cash from operating activities declined to €398 million from €574 million, impacted by restructuring costs.
Tele2 edged up 0.6% to 115.20 krona after the Swedish streaming TV and networking company posted strong earnings for the fourth quarter ending in December.
Revenue increased 1.3% to 7.78 billion krona from 7.68 billion krona; net profit surged to 971 million krona from 936 million krona, and earnings per diluted share rose to 1.39 krona from 1.34 krona a year ago.
Equity free cash flow climbed to 808 million krona from 531 million krona a year earlier.
Lonza Group AG traded flat at CHF594.60 after the Swiss pharmaceutical and nutrition products provider posted mild earnings for the year ending in December.
Sales were down 2.1% to CHF6.57 billion from CHF6.72 billion; profit declined 2.7% to CHF637 million from CHF655 million, and earnings per diluted share edged down to CHF8.88 from CHF8.92 a year ago.
The company posted a significant increase of net debts, driven by acquisitions and divestitures.
WH Smith Plc gained 5.7% to 1,258 pence after the British books and travel retailer posted growth for the 21-week period to January 25.
Comparable sales surged 3% in North America, driven by new product categories and additional stores at Orlando. Florida and Portland, Oregon, airports.
Wacker Chemie AG gained 1.9% to €65.76 despite the German chemical company reporting a core profit decline on lower prices and high energy costs.
Sales in the fiscal year 2024 ending in December declined 11% to €5.7 billion from €6.4 billion; net income fell 19% to €265 million from €327 million, and earnings per share dropped to €4.90 from €6.31 a year ago.
Net cash flow swung to negative €325 million from positive €166 million, driven by a significantly higher net debt.
Givaudan SA eased 0.3% to CHF4.024 after the cosmetics ingredients maker topped forecasts with strong growth for fiscal year 2024 ending in December.
Group sales increased 7.2% to CHF7.41 billion from CHF 2.69 billion; net income surged 22.1% to CHF1.09 billion from CHF893 million, and earnings per share rose to CHF118.17 from CHF96.81 a year ago.
Free cash flow climbed by 25.9% and net debt was 7% lower, driven by a 12.3% growth in overall comparable sales.
Sweden Trimmed Rates Fifth Consecutive Meeting, Spain's GDP Growth Surpassed Expectations
Bridgette Randall
29 Jan, 2025
London
Stock market indexes in Europe advanced, and investors reviewed the latest corporate earnings updates.
Benchmark indexes in Frankfurt and London advanced, but they struggled to stay above the flatline in Milan and Paris.
Sweden's central bank lowered its policy rate for the fifth time in a row at the end of its policy meeting today, reflecting the weakening inflationary forces.
The Riksbank trimmed its benchmark rate by 25 basis points to 2.25%, citing inflation decreasing to 2% and ongoing economic weakness.
The central bank lowered its rates for the sixth time since May, totaling 175 basis points, and the policy committee signaled one more possible rate cut in the first half.
Spain's economy expanded at a faster-than-anticipated pace in the fourth quarter, the National Statistics Institute reported Wednesday.
GDP expanded at an annual pace of 3.5% in the fourth quarter, matching the rate of growth in the previous quarter.
For the full year 2024, Spain's economy expanded at 3.2%, ahead of its eurozone peers.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,505.42; the CAC-40 index fell 0.4% to 7,865.95; and the FTSE 100 index advanced by 0.02% to 8,535.75.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.28%, the UK gilts moved down to 4.58%, and Italian bonds edged lower to 3.61%.
The euro was flat at $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.60 Swiss cents.
Brent crude decreased $0.57 to $76.95 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Logitech gained 0.4% to CHF 82.68 after the Swiss computer accessories maker posted mixed earnings for the third quarter of fiscal year 2025.
Atlas Copco Group plunged 3.5% to 180.40 krona after the Swedish industrial manufacturer posted earnings for the fourth quarter ending in December.
LVMH eased 0.6% to €750.6 after the luxury goods retailer posted a slight revenue decline for the full year 2024 ending in December.
Revenue declined 2% to €84.68 million from €86.15 million; net profit moved down to €12.55 million from €15.17 million a year ago, driven by a 36% plunge in wine and spirits sales.
The company proposed to pay a dividend of €7.50 per share on April 28.
Remy Cointreau SA edged down 2.8% to €58.20 after the French alcohol beverages distributor posted lower earnings for its third quarter ending in December.
Sales in the Americas and Asia-Pacific declined, reflecting tougher market conditions in China, while Southeast Asia sales rebounded.
In the first nine months of 2024-25, the company reported sales of €787.8 million, down 17.8% on an organic basis.
The overall performance includes an organic decline of 21.5% in the third quarter, or 20.6% as reported.
Akzo Nobel NV traded flat at €60.52 after the Dutch paints and performance coatings maker posted mixed earnings for the fourth quarter ending in December.
Tele2 edged up 0.6% to 115.20 krona after the Swedish streaming TV and networking company posted strong earnings for the fourth quarter ending in December.
Lonza Group AG traded flat at CHF594.60 after the Swiss pharmaceutical and nutrition products provider posted mild earnings for the year ending in December.
WH Smith Plc gained 5.7% to 1,258 pence after the British books and travel retailer posted growth for the 21-week period to January 25.
Comparable sales surged 3% in North America, driven by new product categories and additional stores at Orlando. Florida and Portland, Oregon, airports.
Sweden Trimmed Rates Fifth Consecutive Meeting, Spain's GDP Growth Surpassed Expectations
Bridgette Randall
29 Jan, 2025
London
Stock market indexes in Europe advanced, and investors reviewed the latest corporate earnings updates.
Benchmark indexes in Frankfurt and London advanced, but they struggled to stay above the flatline in Milan and Paris.
Sweden's central bank lowered its policy rate for the fifth time in a row at the end of its policy meeting today, reflecting the weakening inflationary forces.
The Riksbank trimmed its benchmark rate by 25 basis points to 2.25%, citing inflation decreasing to 2% and ongoing economic weakness.
The central bank lowered its rates for the sixth time since May, totaling 175 basis points, and the policy committee signaled one more possible rate cut in the first half.
Spain's economy expanded at a faster-than-anticipated pace in the fourth quarter, the National Statistics Institute reported Wednesday.
GDP expanded at an annual pace of 3.5% in the fourth quarter, matching the rate of growth in the previous quarter.
For the full year 2024, Spain's economy expanded at 3.2%, ahead of its eurozone peers.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,505.42; the CAC-40 index fell 0.4% to 7,865.95; and the FTSE 100 index advanced by 0.02% to 8,535.75.
The yield on 10-year German bonds inched higher to 2.48%, French bonds declined to 3.28%, the UK gilts moved down to 4.58%, and Italian bonds edged lower to 3.61%.
The euro was flat at $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.60 Swiss cents.
Brent crude decreased $0.57 to $76.95 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
Logitech gained 0.4% to CHF 82.68 after the Swiss computer accessories maker posted mixed earnings for the third quarter of fiscal year 2025.
Atlas Copco Group plunged 3.5% to 180.40 krona after the Swedish industrial manufacturer posted earnings for the fourth quarter ending in December.
LVMH eased 0.6% to €750.6 after the luxury goods retailer posted a slight revenue decline for the full year 2024 ending in December.
Revenue declined 2% to €84.68 million from €86.15 million; net profit moved down to €12.55 million from €15.17 million a year ago, driven by a 36% plunge in wine and spirits sales.
The company proposed to pay a dividend of €7.50 per share on April 28.
Remy Cointreau SA edged down 2.8% to €58.20 after the French alcohol beverages distributor posted lower earnings for its third quarter ending in December.
Sales in the Americas and Asia-Pacific declined, reflecting tougher market conditions in China, while Southeast Asia sales rebounded.
In the first nine months of 2024-25, the company reported sales of €787.8 million, down 17.8% on an organic basis.
The overall performance includes an organic decline of 21.5% in the third quarter, or 20.6% as reported.
Akzo Nobel NV traded flat at €60.52 after the Dutch paints and performance coatings maker posted mixed earnings for the fourth quarter ending in December.
Tele2 edged up 0.6% to 115.20 krona after the Swedish streaming TV and networking company posted strong earnings for the fourth quarter ending in December.
Lonza Group AG traded flat at CHF594.60 after the Swiss pharmaceutical and nutrition products provider posted mild earnings for the year ending in December.
WH Smith Plc gained 5.7% to 1,258 pence after the British books and travel retailer posted growth for the 21-week period to January 25.
Comparable sales surged 3% in North America, driven by new product categories and additional stores at Orlando. Florida and Portland, Oregon, airports.
India Movers: Arvind, Bajaj Auto, Cipla, Colgate-Palmolive, Hindustan Zinc, Hyundai Motor, Suzlon Energy, TVS Motor
Arun Goswami
29 Jan, 2025
Mumbai
The Sensex and Nifty indexes trimmed weekly losses, and investors bid up vehicle makers Bajaj Auto and TVS Motor, which reported better-than-expected quarterly results.
The Sensex index increased by 0.3% to 76,143.02, and the Nifty index advanced by 0.3% to 23,031.10.
On the Mumbai stock exchange, 10 stocks traded at their 52-week highs, and 93 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record and traded at 86.58 against the U.S. dollar.
Bajaj Auto increased 2.6% to ₹8,614.40 after the 2- and 3-wheeler maker reported better-than-expected earnings in the December quarter.
The company said its electric vehicle turned profitable, following the sustained demand.
Consolidated revenue in the December quarter increased to ₹13,516.41 crore from ₹12,521 crore, net income rose to ₹2,195.65 crore from ₹2,032.62 crore, and diluted earnings per share jumped to ₹78.7 from ₹71.9 a year ago.
TVS Motor Company gained 7% to ₹2,501.0 after the two-wheeler vehicle maker reported better-than-expected December quarter results.
Consolidated revenue in the December quarter increased to ₹11,199.7 crore from ₹10,125.8 crore, after-tax profit rose to ₹609.35 crore from ₹509.61 crore, and diluted earnings per share advanced to ₹11.91 from ₹10.08 a year ago.
Hyundai Motor decreased 0.1% to ₹1,622.85 after the passenger carmaker reported a 19% decline in profit in the December quarter.
Consolidated revenue in the December quarter decreased to ₹16,892.4 crore from ₹17,243.5 crore, after-tax profit fell to ₹1,160.7 crore from ₹1,425.2 crore, and diluted earnings per share declined to ₹14.29 from ₹17.54 a year ago.
Hindustan Zinc Ltd. advanced 1% to ₹433.55 after the mining company reported a 32% rise in net income in the latest quarter.
Consolidated revenue in the December quarter increased to ₹8,832 crore from ₹7,606 crore, net income jumped to ₹2,678 crore from ₹2,028 crore, and diluted earnings per share rose to ₹6.34 from ₹4.80 a year ago.
Cipla Ltd. inched up 0.3% to ₹1,425.60 after the generic pharmaceutical company reported nearly a 49% jump in profit in the December quarter.
Consolidated revenue in the December quarter increased to ₹7,073 crore from ₹6,603.8 crore, after-tax profit advanced to ₹1,574.6 crore from ₹1,068.4 crore, and diluted earnings per share jumped to ₹19.43 from ₹13.07 a year ago.
Suzlon Energy Ltd. scored 5% to ₹52.76 despite the company reporting a 91% jump in consolidated profit from a year ago.
Consolidated revenue in the December quarter increased to ₹3,002.4 crore from ₹1,569.7 crore, net income jumped to ₹387.8 crore from ₹203 crore, and diluted earnings per share rose to 28 paisa from 15 paisa a year ago.
Colgate Palmolive (India) Ltd. decreased 0.7% to ₹2,659.65, and the company reported a 5% rise in revenue and a 2% decline in net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹1,482.2 crore from ₹1,413.5 crore; after-tax profit declined to ₹322.8 crore from ₹330.1 crore, and diluted earnings per share fell to ₹11.87 from ₹12.14 a year ago.
Arvind Ltd. increased 2% to ₹334, and the company reported a 13% increase in the fiscal third quarter ending in December.
Consolidated revenue in the December quarter increased to ₹2,099.7 crore from ₹1,897.6 crore, net income jumped to ₹106.2 crore from ₹94.3 crore, and diluted earnings per share rose to ₹3.95 from ₹3.50 a year ago.
India Movers: Arvind, Bajaj Auto, Cipla, Colgate-Palmolive, Hindustan Zinc, Hyundai Motor, Suzlon Energy, TVS Motor
Arun Goswami
29 Jan, 2025
Mumbai
The Sensex and Nifty indexes trimmed weekly losses, and investors bid up vehicle makers Bajaj Auto and TVS Motor, which reported better-than-expected quarterly results.
The Sensex index increased by 0.3% to 76,143.02, and the Nifty index advanced by 0.3% to 23,031.10.
On the Mumbai stock exchange, 10 stocks traded at their 52-week highs, and 93 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record and traded at 86.58 against the U.S. dollar.
Bajaj Auto increased 2.6% to ₹8,614.40 after the 2- and 3-wheeler maker reported better-than-expected earnings in the December quarter.
The company said its electric vehicle turned profitable, following the sustained demand.
Consolidated revenue in the December quarter increased to ₹13,516.41 crore from ₹12,521 crore, net income rose to ₹2,195.65 crore from ₹2,032.62 crore, and diluted earnings per share jumped to ₹78.7 from ₹71.9 a year ago.
TVS Motor Company gained 7% to ₹2,501.0 after the two-wheeler vehicle maker reported better-than-expected December quarter results.
Consolidated revenue in the December quarter increased to ₹11,199.7 crore from ₹10,125.8 crore, after-tax profit rose to ₹609.35 crore from ₹509.61 crore, and diluted earnings per share advanced to ₹11.91 from ₹10.08 a year ago.
Hyundai Motor decreased 0.1% to ₹1,622.85 after the passenger carmaker reported a 19% decline in profit in the December quarter.
Consolidated revenue in the December quarter decreased to ₹16,892.4 crore from ₹17,243.5 crore, after-tax profit fell to ₹1,160.7 crore from ₹1,425.2 crore, and diluted earnings per share declined to ₹14.29 from ₹17.54 a year ago.
Hindustan Zinc Ltd. advanced 1% to ₹433.55 after the mining company reported a 32% rise in net income in the latest quarter.
Consolidated revenue in the December quarter increased to ₹8,832 crore from ₹7,606 crore, net income jumped to ₹2,678 crore from ₹2,028 crore, and diluted earnings per share rose to ₹6.34 from ₹4.80 a year ago.
Cipla Ltd. inched up 0.3% to ₹1,425.60 after the generic pharmaceutical company reported nearly a 49% jump in profit in the December quarter.
Consolidated revenue in the December quarter increased to ₹7,073 crore from ₹6,603.8 crore, after-tax profit advanced to ₹1,574.6 crore from ₹1,068.4 crore, and diluted earnings per share jumped to ₹19.43 from ₹13.07 a year ago.
Suzlon Energy Ltd. scored 5% to ₹52.76 despite the company reporting a 91% jump in consolidated profit from a year ago.
Consolidated revenue in the December quarter increased to ₹3,002.4 crore from ₹1,569.7 crore, net income jumped to ₹387.8 crore from ₹203 crore, and diluted earnings per share rose to 28 paisa from 15 paisa a year ago.
Colgate Palmolive (India) Ltd. decreased 0.7% to ₹2,659.65, and the company reported a 5% rise in revenue and a 2% decline in net income in the December quarter.
Consolidated revenue in the December quarter increased to ₹1,482.2 crore from ₹1,413.5 crore; after-tax profit declined to ₹322.8 crore from ₹330.1 crore, and diluted earnings per share fell to ₹11.87 from ₹12.14 a year ago.
Arvind Ltd. increased 2% to ₹334, and the company reported a 13% increase in the fiscal third quarter ending in December.
Consolidated revenue in the December quarter increased to ₹2,099.7 crore from ₹1,897.6 crore, net income jumped to ₹106.2 crore from ₹94.3 crore, and diluted earnings per share rose to ₹3.95 from ₹3.50 a year ago.
Tech Stocks Rebounded After Investors Searched for Bargains, Global Markets Trade Sideways
Alexander Garcia
28 Jan, 2025
Miami
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
Market indexes advanced amid a growing list of worries, including U.S. trade policy uncertainty, chaotic and weak presidential administration, resurgent inflation, higher-for-longer interest rates, and the emergence of Chinese competition in the race to dominate artificial intelligence infrastructure.
The S&P 500 index edged up 0.8%, and the Nasdaq Composite advanced 1.8%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely publicized and repeated claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.8% to 6,060.54, the Nasdaq Composite edged up 1.8% to 19,686.22, and the Russell 2000 index was down 0.2% to 2,279.74.
The yield on 2-year Treasury notes edged higher to 4.22%, 10-year Treasury notes climbed to 4.56%, and 30-year Treasury bonds moved up to 4.80%.
WTI crude oil increased $1.05 to $74.21 a barrel, and natural gas prices edged lower by $0.16 to $3.54 a thermal unit.
Gold rose by $8.28 to 2,749.80 an ounce, and silver edged down by $0.03 to $30.14.
The dollar index, which weighs the US currency against a basket of foreign currencies, gained 0.57 to 107.91 and traded at a two-year high.
U.S. Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.
European Markets Rebounded, Spain's Jobless Rate Dropped to New Low Since 2008
European markets advanced in Tuesday's trading, and investors awaited rate decisions from major central banks and updates on inflation and growth outlooks.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced, and investors looked forward to comments from ECB president Christine Lagarde after the two-day policy meeting ending Thursday.
Investors are also looking forward to signals for additional rate cuts and updates on inflation and economic growth amid persistent weakness in the broader economy in the region and a lack of improvement in consumer sentiment.
Germany, France, and Italy are struggling to increase their global exports amid rising competition from Asian companies and slowing economic growth in China and Japan.
Moreover, chaotic U.S. presidential administration and U.S. trade policy uncertainties are also adding to market anxieties in European trading.
Separately, Spain's economy ministry said it will raise GDP growth estimates for the current year above the target of 2.4%.
Spain's jobless rate eased to 10.6% in the fourth quarter of 2024, down from 11.2% in the previous quarter, the National Statistics Institute reported Tuesday.
The jobless rate dropped to the lowest level since the second quarter of 2008, after the number of unemployed people declined by 158,600 from the previous quarter to 2.59 million.
Meanwhile, the number of employed increased by 34,800 to 21.86 million.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,355.89; the CAC-40 index fell 0.2% to 7,892.81; and the FTSE 100 index advanced by 0.4% to 8,537.75.
The yield on 10-year German bonds inched higher to 2.54%, French bonds advanced to 3.28%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.65%.
The euro edged higher to $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.64 Swiss cents.
Brent crude increased $0.39 to $77.47 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
SAP AG gained 1% to €264 after the German software company posted strong growth in the fourth quarter ending in December.
SThree Plc dropped 5% to 270.84 pence after the London-based staffing company posted lower pre-tax earnings in the fiscal year ending in November.
Sartorius AG surged 10.8% to €231.40 after the life sciences company closed fiscal 2024 with a positive fourth quarter ending in December.
Preliminary full-year sales revenue increased 0.1% to €3.38 billion, at a profit margin of 28%.
The biotech company remains cautiously positive for its 2025 outlook, with growth expected in both divisions.
Freenet AG increased 1.1% to €29.34 after the German media company appointed Robin John Andes Harries as its new chief executive.
Netcompany AS plunged 6.5% to €41.50 after the technology company reported lower-than-expected revenue and operating earnings in the fourth quarter.
Free cash flow was significantly higher because of improvements in working capital, despite the decline in revenue.
The company's revenue growth guidance of a 5% increase fell short of market expectations of a 10% increase.
India Indexes Shake-off Rising Geopolitical Tensions, Union Budget In Focus
Stock market indexes in Mumbai rebounded in early trading on Tuesday, and investors looked ahead to the release of the Union Budget.
The Sensex and Nifty indexes rebounded more than 0.2% after struggling to advance for more than three weeks amid weak corporate earnings results, persistent outflow of foreign funds, and rising geopolitical tensions.
The Union Budget is likely to show higher spending on road and rail infrastructure development, electric power infrastructure, and greater emphasis on collecting individual taxes.
The finance ministry is also expected to provide additional incentives to accelerate renewable power infrastructure investment and the production of equipment and systems for defense and security activities.
Foreign investors continue to trim their holdings in emerging markets, including in India, following the rise of bond yields in the U.S. and the UK to 5%.
Market sentiment has been cautious amid geopolitical uncertainties and the possible application of additional tariffs on manufactured goods shipped from China and Asia as early as this week.
Chaotic and combative, the U.S. presidential administration is likely to face resistance in the months ahead, as the world's largest economy relies on other nations for consumer electronics, basic household items, transportation equipment, advanced electrical and electronic supplies, and key food products.
In trading across Asia, stock markets in mainland China are closed for a week to celebrate the Lunar New Year, and the Nikkei 225 Stock Average plunged 1.4% to 39,016.87, tracking losses in tech stocks in overnight trading in New York.
Stock Indexes and Bond Yields
The Sensex index increased by 0.4% to 75,667.28, and the Nifty index increased by 0.2% to 22,881.80.
On the Mumbai stock exchange, 14 stocks traded at their 52-week highs, and 270 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record increase and traded at 86.45 against the U.S. dollar.
The gold price increased by 0.2% to ₹79,729 per ten grams, and silver advanced by 0.02% to ₹90,244 per kilo.
Crude oil rose by 0.8% to ₹6,349 per barrel, and natural gas increased by 0.4% to ₹280.7 per thermal unit.
Stock Movers
Coal India declined 1.7% to ₹369.35 after the mining company reported a 17% decline in earnings in the December quarter following lower coal prices.
Union Bank of India rose 3.4% to ₹109.25 after the financial services company reported a 38% jump in consolidated profit from a year ago.
Canara Bank dropped 0.9% to ₹91.45 after the financial service company reported a 12% increase in profit, driven in part by a boost in non-interest income.
Federal Bank dropped 5.4% to ₹180.80 after the financial service company reported a marginal decline in the December quarter profit.
Emami Limited increased 1.3% to ₹541.80 after the personal care and healthcare company reported a 7% increase in the fiscal third quarter ending in December.
Indraprastha Gas Limited dropped 5% to ₹370.80 after the natural gas distribution company reported December quarter earnings that fell short of market expectations.
Tech Stocks Rebounded After Investors Searched for Bargains, Global Markets Trade Sideways
Alexander Garcia
28 Jan, 2025
Miami
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
Market indexes advanced amid a growing list of worries, including U.S. trade policy uncertainty, chaotic and weak presidential administration, resurgent inflation, higher-for-longer interest rates, and the emergence of Chinese competition in the race to dominate artificial intelligence infrastructure.
The S&P 500 index edged up 0.8%, and the Nasdaq Composite advanced 1.8%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely publicized and repeated claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.8% to 6,060.54, the Nasdaq Composite edged up 1.8% to 19,686.22, and the Russell 2000 index was down 0.2% to 2,279.74.
The yield on 2-year Treasury notes edged higher to 4.22%, 10-year Treasury notes climbed to 4.56%, and 30-year Treasury bonds moved up to 4.80%.
WTI crude oil increased $1.05 to $74.21 a barrel, and natural gas prices edged lower by $0.16 to $3.54 a thermal unit.
Gold rose by $8.28 to 2,749.80 an ounce, and silver edged down by $0.03 to $30.14.
The dollar index, which weighs the US currency against a basket of foreign currencies, gained 0.57 to 107.91 and traded at a two-year high.
U.S. Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.
European Markets Rebounded, Spain's Jobless Rate Dropped to New Low Since 2008
European markets advanced in Tuesday's trading, and investors awaited rate decisions from major central banks and updates on inflation and growth outlooks.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced, and investors looked forward to comments from ECB president Christine Lagarde after the two-day policy meeting ending Thursday.
Investors are also looking forward to signals for additional rate cuts and updates on inflation and economic growth amid persistent weakness in the broader economy in the region and a lack of improvement in consumer sentiment.
Germany, France, and Italy are struggling to increase their global exports amid rising competition from Asian companies and slowing economic growth in China and Japan.
Moreover, chaotic U.S. presidential administration and U.S. trade policy uncertainties are also adding to market anxieties in European trading.
Separately, Spain's economy ministry said it will raise GDP growth estimates for the current year above the target of 2.4%.
Spain's jobless rate eased to 10.6% in the fourth quarter of 2024, down from 11.2% in the previous quarter, the National Statistics Institute reported Tuesday.
The jobless rate dropped to the lowest level since the second quarter of 2008, after the number of unemployed people declined by 158,600 from the previous quarter to 2.59 million.
Meanwhile, the number of employed increased by 34,800 to 21.86 million.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,355.89; the CAC-40 index fell 0.2% to 7,892.81; and the FTSE 100 index advanced by 0.4% to 8,537.75.
The yield on 10-year German bonds inched higher to 2.54%, French bonds advanced to 3.28%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.65%.
The euro edged higher to $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.64 Swiss cents.
Brent crude increased $0.39 to $77.47 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
SAP AG gained 1% to €264 after the German software company posted strong growth in the fourth quarter ending in December.
SThree Plc dropped 5% to 270.84 pence after the London-based staffing company posted lower pre-tax earnings in the fiscal year ending in November.
Sartorius AG surged 10.8% to €231.40 after the life sciences company closed fiscal 2024 with a positive fourth quarter ending in December.
Preliminary full-year sales revenue increased 0.1% to €3.38 billion, at a profit margin of 28%.
The biotech company remains cautiously positive for its 2025 outlook, with growth expected in both divisions.
Freenet AG increased 1.1% to €29.34 after the German media company appointed Robin John Andes Harries as its new chief executive.
Netcompany AS plunged 6.5% to €41.50 after the technology company reported lower-than-expected revenue and operating earnings in the fourth quarter.
Free cash flow was significantly higher because of improvements in working capital, despite the decline in revenue.
The company's revenue growth guidance of a 5% increase fell short of market expectations of a 10% increase.
India Indexes Shake-off Rising Geopolitical Tensions, Union Budget In Focus
Stock market indexes in Mumbai rebounded in early trading on Tuesday, and investors looked ahead to the release of the Union Budget.
The Sensex and Nifty indexes rebounded more than 0.2% after struggling to advance for more than three weeks amid weak corporate earnings results, persistent outflow of foreign funds, and rising geopolitical tensions.
The Union Budget is likely to show higher spending on road and rail infrastructure development, electric power infrastructure, and greater emphasis on collecting individual taxes.
The finance ministry is also expected to provide additional incentives to accelerate renewable power infrastructure investment and the production of equipment and systems for defense and security activities.
Foreign investors continue to trim their holdings in emerging markets, including in India, following the rise of bond yields in the U.S. and the UK to 5%.
Market sentiment has been cautious amid geopolitical uncertainties and the possible application of additional tariffs on manufactured goods shipped from China and Asia as early as this week.
Chaotic and combative, the U.S. presidential administration is likely to face resistance in the months ahead, as the world's largest economy relies on other nations for consumer electronics, basic household items, transportation equipment, advanced electrical and electronic supplies, and key food products.
In trading across Asia, stock markets in mainland China are closed for a week to celebrate the Lunar New Year, and the Nikkei 225 Stock Average plunged 1.4% to 39,016.87, tracking losses in tech stocks in overnight trading in New York.
Stock Indexes and Bond Yields
The Sensex index increased by 0.4% to 75,667.28, and the Nifty index increased by 0.2% to 22,881.80.
On the Mumbai stock exchange, 14 stocks traded at their 52-week highs, and 270 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record increase and traded at 86.45 against the U.S. dollar.
The gold price increased by 0.2% to ₹79,729 per ten grams, and silver advanced by 0.02% to ₹90,244 per kilo.
Crude oil rose by 0.8% to ₹6,349 per barrel, and natural gas increased by 0.4% to ₹280.7 per thermal unit.
Stock Movers
Coal India declined 1.7% to ₹369.35 after the mining company reported a 17% decline in earnings in the December quarter following lower coal prices.
Union Bank of India rose 3.4% to ₹109.25 after the financial services company reported a 38% jump in consolidated profit from a year ago.
Canara Bank dropped 0.9% to ₹91.45 after the financial service company reported a 12% increase in profit, driven in part by a boost in non-interest income.
Federal Bank dropped 5.4% to ₹180.80 after the financial service company reported a marginal decline in the December quarter profit.
Emami Limited increased 1.3% to ₹541.80 after the personal care and healthcare company reported a 7% increase in the fiscal third quarter ending in December.
Indraprastha Gas Limited dropped 5% to ₹370.80 after the natural gas distribution company reported December quarter earnings that fell short of market expectations.
Tech Stocks Rebounded After Investors Searched for Bargains In
Alexander Garcia
28 Jan, 2025
Miami
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
Market indexes advanced amid a growing list of worries, including U.S. trade policy uncertainty, chaotic and weak presidential administration, resurgent inflation, higher-for-longer interest rates, and the emergence of Chinese competition in the race to dominate artificial intelligence infrastructure.
The S&P 500 index edged up 0.8%, and the Nasdaq Composite advanced 1.8%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely publicized and repeated claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.8% to 6,060.54, the Nasdaq Composite edged up 1.8% to 19,686.22, and the Russell 2000 index was down 0.2% to 2,279.74.
The yield on 2-year Treasury notes edged higher to 4.22%, 10-year Treasury notes climbed to 4.56%, and 30-year Treasury bonds moved up to 4.80%.
WTI crude oil increased $1.05 to $74.21 a barrel, and natural gas prices edged lower by $0.16 to $3.54 a thermal unit.
Gold rose by $8.28 to 2,749.80 an ounce, and silver edged down by $0.03 to $30.14.
The dollar index, which weighs the US currency against a basket of foreign currencies, gained 0.57 to 107.91 and traded at a two-year high.
U.S. Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.
European Markets Rebounded, Spain's Jobless Rate Dropped to New Low Since 2008
European markets advanced in Tuesday's trading, and investors awaited rate decisions from major central banks and updates on inflation and growth outlooks.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced, and investors looked forward to comments from ECB president Christine Lagarde after the two-day policy meeting ending Thursday.
Investors are also looking forward to signals for additional rate cuts and updates on inflation and economic growth amid persistent weakness in the broader economy in the region and a lack of improvement in consumer sentiment.
Germany, France, and Italy are struggling to increase their global exports amid rising competition from Asian companies and slowing economic growth in China and Japan.
Moreover, chaotic U.S. presidential administration and U.S. trade policy uncertainties are also adding to market anxieties in European trading.
Separately, Spain's economy ministry said it will raise GDP growth estimates for the current year above the target of 2.4%.
Spain's jobless rate eased to 10.6% in the fourth quarter of 2024, down from 11.2% in the previous quarter, the National Statistics Institute reported Tuesday.
The jobless rate dropped to the lowest level since the second quarter of 2008, after the number of unemployed people declined by 158,600 from the previous quarter to 2.59 million.
Meanwhile, the number of employed increased by 34,800 to 21.86 million.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,355.89; the CAC-40 index fell 0.2% to 7,892.81; and the FTSE 100 index advanced by 0.4% to 8,537.75.
The yield on 10-year German bonds inched higher to 2.54%, French bonds advanced to 3.28%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.65%.
The euro edged higher to $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.64 Swiss cents.
Brent crude increased $0.39 to $77.47 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
SAP AG gained 1% to €264 after the German software company posted strong growth in the fourth quarter ending in December.
SThree Plc dropped 5% to 270.84 pence after the London-based staffing company posted lower pre-tax earnings in the fiscal year ending in November.
Sartorius AG surged 10.8% to €231.40 after the life sciences company closed fiscal 2024 with a positive fourth quarter ending in December.
Preliminary full-year sales revenue increased 0.1% to €3.38 billion, at a profit margin of 28%.
The biotech company remains cautiously positive for its 2025 outlook, with growth expected in both divisions.
Freenet AG increased 1.1% to €29.34 after the German media company appointed Robin John Andes Harries as its new chief executive.
Netcompany AS plunged 6.5% to €41.50 after the technology company reported lower-than-expected revenue and operating earnings in the fourth quarter.
Free cash flow was significantly higher because of improvements in working capital, despite the decline in revenue.
The company's revenue growth guidance of a 5% increase fell short of market expectations of a 10% increase.
India Indexes Shake-off Rising Geopolitical Tensions, Union Budget In Focus
Stock market indexes in Mumbai rebounded in early trading on Tuesday, and investors looked ahead to the release of the Union Budget.
The Sensex and Nifty indexes rebounded more than 0.2% after struggling to advance for more than three weeks amid weak corporate earnings results, persistent outflow of foreign funds, and rising geopolitical tensions.
The Union Budget is likely to show higher spending on road and rail infrastructure development, electric power infrastructure, and greater emphasis on collecting individual taxes.
The finance ministry is also expected to provide additional incentives to accelerate renewable power infrastructure investment and the production of equipment and systems for defense and security activities.
Foreign investors continue to trim their holdings in emerging markets, including in India, following the rise of bond yields in the U.S. and the UK to 5%.
Market sentiment has been cautious amid geopolitical uncertainties and the possible application of additional tariffs on manufactured goods shipped from China and Asia as early as this week.
Chaotic and combative, the U.S. presidential administration is likely to face resistance in the months ahead, as the world's largest economy relies on other nations for consumer electronics, basic household items, transportation equipment, advanced electrical and electronic supplies, and key food products.
In trading across Asia, stock markets in mainland China are closed for a week to celebrate the Lunar New Year, and the Nikkei 225 Stock Average plunged 1.4% to 39,016.87, tracking losses in tech stocks in overnight trading in New York.
Stock Indexes and Bond Yields
The Sensex index increased by 0.4% to 75,667.28, and the Nifty index increased by 0.2% to 22,881.80.
On the Mumbai stock exchange, 14 stocks traded at their 52-week highs, and 270 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record increase and traded at 86.45 against the U.S. dollar.
The gold price increased by 0.2% to ₹79,729 per ten grams, and silver advanced by 0.02% to ₹90,244 per kilo.
Crude oil rose by 0.8% to ₹6,349 per barrel, and natural gas increased by 0.4% to ₹280.7 per thermal unit.
Stock Movers
Coal India declined 1.7% to ₹369.35 after the mining company reported a 17% decline in earnings in the December quarter following lower coal prices.
Union Bank of India rose 3.4% to ₹109.25 after the financial services company reported a 38% jump in consolidated profit from a year ago.
Canara Bank dropped 0.9% to ₹91.45 after the financial service company reported a 12% increase in profit, driven in part by a boost in non-interest income.
Federal Bank dropped 5.4% to ₹180.80 after the financial service company reported a marginal decline in the December quarter profit.
Emami Limited increased 1.3% to ₹541.80 after the personal care and healthcare company reported a 7% increase in the fiscal third quarter ending in December.
Indraprastha Gas Limited dropped 5% to ₹370.80 after the natural gas distribution company reported December quarter earnings that fell short of market expectations.
Tech Stocks Rebounded After Investors Searched for Bargains In
Alexander Garcia
28 Jan, 2025
Miami
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
Market indexes advanced amid a growing list of worries, including U.S. trade policy uncertainty, chaotic and weak presidential administration, resurgent inflation, higher-for-longer interest rates, and the emergence of Chinese competition in the race to dominate artificial intelligence infrastructure.
The S&P 500 index edged up 0.8%, and the Nasdaq Composite advanced 1.8%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely publicized and repeated claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index increased 0.8% to 6,060.54, the Nasdaq Composite edged up 1.8% to 19,686.22, and the Russell 2000 index was down 0.2% to 2,279.74.
The yield on 2-year Treasury notes edged higher to 4.22%, 10-year Treasury notes climbed to 4.56%, and 30-year Treasury bonds moved up to 4.80%.
WTI crude oil increased $1.05 to $74.21 a barrel, and natural gas prices edged lower by $0.16 to $3.54 a thermal unit.
Gold rose by $8.28 to 2,749.80 an ounce, and silver edged down by $0.03 to $30.14.
The dollar index, which weighs the US currency against a basket of foreign currencies, gained 0.57 to 107.91 and traded at a two-year high.
U.S. Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.
European Markets Rebounded, Spain's Jobless Rate Dropped to New Low Since 2008
European markets advanced in Tuesday's trading, and investors awaited rate decisions from major central banks and updates on inflation and growth outlooks.
Benchmark indexes in Frankfurt, Paris, Milan, and London advanced, and investors looked forward to comments from ECB president Christine Lagarde after the two-day policy meeting ending Thursday.
Investors are also looking forward to signals for additional rate cuts and updates on inflation and economic growth amid persistent weakness in the broader economy in the region and a lack of improvement in consumer sentiment.
Germany, France, and Italy are struggling to increase their global exports amid rising competition from Asian companies and slowing economic growth in China and Japan.
Moreover, chaotic U.S. presidential administration and U.S. trade policy uncertainties are also adding to market anxieties in European trading.
Separately, Spain's economy ministry said it will raise GDP growth estimates for the current year above the target of 2.4%.
Spain's jobless rate eased to 10.6% in the fourth quarter of 2024, down from 11.2% in the previous quarter, the National Statistics Institute reported Tuesday.
The jobless rate dropped to the lowest level since the second quarter of 2008, after the number of unemployed people declined by 158,600 from the previous quarter to 2.59 million.
Meanwhile, the number of employed increased by 34,800 to 21.86 million.
Europe Indexes and Yields
The DAX index moved higher by 0.4% to 21,355.89; the CAC-40 index fell 0.2% to 7,892.81; and the FTSE 100 index advanced by 0.4% to 8,537.75.
The yield on 10-year German bonds inched higher to 2.54%, French bonds advanced to 3.28%, the UK gilts moved up to 4.60%, and Italian bonds edged higher to 3.65%.
The euro edged higher to $1.04; the British pound was flat at $1.24; and the U.S. dollar was higher and traded at 90.64 Swiss cents.
Brent crude increased $0.39 to $77.47 a barrel, and the Dutch TTF natural gas was higher by €0.17 to €49.91 per MWh.
Europe Stock Movers
SAP AG gained 1% to €264 after the German software company posted strong growth in the fourth quarter ending in December.
SThree Plc dropped 5% to 270.84 pence after the London-based staffing company posted lower pre-tax earnings in the fiscal year ending in November.
Sartorius AG surged 10.8% to €231.40 after the life sciences company closed fiscal 2024 with a positive fourth quarter ending in December.
Preliminary full-year sales revenue increased 0.1% to €3.38 billion, at a profit margin of 28%.
The biotech company remains cautiously positive for its 2025 outlook, with growth expected in both divisions.
Freenet AG increased 1.1% to €29.34 after the German media company appointed Robin John Andes Harries as its new chief executive.
Netcompany AS plunged 6.5% to €41.50 after the technology company reported lower-than-expected revenue and operating earnings in the fourth quarter.
Free cash flow was significantly higher because of improvements in working capital, despite the decline in revenue.
The company's revenue growth guidance of a 5% increase fell short of market expectations of a 10% increase.
India Indexes Shake-off Rising Geopolitical Tensions, Union Budget In Focus
Stock market indexes in Mumbai rebounded in early trading on Tuesday, and investors looked ahead to the release of the Union Budget.
The Sensex and Nifty indexes rebounded more than 0.2% after struggling to advance for more than three weeks amid weak corporate earnings results, persistent outflow of foreign funds, and rising geopolitical tensions.
The Union Budget is likely to show higher spending on road and rail infrastructure development, electric power infrastructure, and greater emphasis on collecting individual taxes.
The finance ministry is also expected to provide additional incentives to accelerate renewable power infrastructure investment and the production of equipment and systems for defense and security activities.
Foreign investors continue to trim their holdings in emerging markets, including in India, following the rise of bond yields in the U.S. and the UK to 5%.
Market sentiment has been cautious amid geopolitical uncertainties and the possible application of additional tariffs on manufactured goods shipped from China and Asia as early as this week.
Chaotic and combative, the U.S. presidential administration is likely to face resistance in the months ahead, as the world's largest economy relies on other nations for consumer electronics, basic household items, transportation equipment, advanced electrical and electronic supplies, and key food products.
In trading across Asia, stock markets in mainland China are closed for a week to celebrate the Lunar New Year, and the Nikkei 225 Stock Average plunged 1.4% to 39,016.87, tracking losses in tech stocks in overnight trading in New York.
Stock Indexes and Bond Yields
The Sensex index increased by 0.4% to 75,667.28, and the Nifty index increased by 0.2% to 22,881.80.
On the Mumbai stock exchange, 14 stocks traded at their 52-week highs, and 270 stocks traded at their 52-week lows.
The yield on the 10-year Indian government bonds inched lower to 6.7%, and the Indian rupee hovered near a record increase and traded at 86.45 against the U.S. dollar.
The gold price increased by 0.2% to ₹79,729 per ten grams, and silver advanced by 0.02% to ₹90,244 per kilo.
Crude oil rose by 0.8% to ₹6,349 per barrel, and natural gas increased by 0.4% to ₹280.7 per thermal unit.
Stock Movers
Coal India declined 1.7% to ₹369.35 after the mining company reported a 17% decline in earnings in the December quarter following lower coal prices.
Union Bank of India rose 3.4% to ₹109.25 after the financial services company reported a 38% jump in consolidated profit from a year ago.
Canara Bank dropped 0.9% to ₹91.45 after the financial service company reported a 12% increase in profit, driven in part by a boost in non-interest income.
Federal Bank dropped 5.4% to ₹180.80 after the financial service company reported a marginal decline in the December quarter profit.
Emami Limited increased 1.3% to ₹541.80 after the personal care and healthcare company reported a 7% increase in the fiscal third quarter ending in December.
Indraprastha Gas Limited dropped 5% to ₹370.80 after the natural gas distribution company reported December quarter earnings that fell short of market expectations.
U.S. Movers: Boeing, Nucor, Sanmina, Sysco
Scott Peters
28 Jan, 2025
New York City
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing gained 6.3% to $186.50 despite the aviation company posting weak earnings in the fourth quarter.
Revenue plunged 31% to $15.24 billion from $22.02 billion; net loss widened to $3.86 billion from $30 million, and basic loss per share soared to $5.46 from 4 cents a year ago.
The company swung to negative operating cash flow of $3.45 billion from a positive $3.38 billion a year earlier, driven by fewer additions to property, plant, and equipment.
Nucor eased 0.2% to $121.97 after the steel manufacturer posted a sharp fall in earnings and revenue in the fourth quarter.
Net sales decreased 8% to $7.08 billion from $7.71 billion; net income declined to $287 million from $785 million, and earnings per diluted share fell to $1.22 from $3.16 a year ago.
The company shipped 6,058,000 tons of steel in the fourth quarter, a 2% increase from a year earlier.
For the full year 2024, Nucor returned $2.74 billion to shareholders in the form of stock repurchases and dividends.
Sanmina Corp added 1.8% to $79.90 after the integrated advanced chip manufacturing solutions company reported earnings for the fiscal first quarter 2025 ending in December.
Net sales increased to $2.01 billion from $1.87 billion; operating income rose to $88.6 million from $87.58 million, and earnings per diluted share jumped to $1.16 from 98 cents a year ago.
Net change in cash and cash equivalents swung to $16.54 million from negative $35.98 million a year earlier, driven by purchases of property and equipment.
Looking ahead to the second quarter, the company expects GAAP earnings per diluted share to range between $1.03 and $1.13.
Sysco Corp added 0.7% to $77.40 after the food and kitchen equipment provider posted fiscal second quarter 2025 earnings ending in December.
Sales increased 4.5% to $20.15 billion from $19.29 billion; operating income jumped 1.7% to $712 million from $700 million a year ago, and earnings per diluted share were flat at 82 cents a share.
Looking ahead, the company estimated full-year sales growth between 4% and 5% and adjusted earnings per share to increase between 6% and 7%.
Sysco expanded its stock repurchase plan for the year to $1.25 billion, up from its previous plan of $1 billion.
U.S. Movers: Boeing, Nucor, Sanmina, Sysco
Scott Peters
28 Jan, 2025
New York City
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing gained 6.3% to $186.50 despite the aviation company posting weak earnings in the fourth quarter.
Revenue plunged 31% to $15.24 billion from $22.02 billion; net loss widened to $3.86 billion from $30 million, and basic loss per share soared to $5.46 from 4 cents a year ago.
The company swung to negative operating cash flow of $3.45 billion from a positive $3.38 billion a year earlier, driven by fewer additions to property, plant, and equipment.
Nucor eased 0.2% to $121.97 after the steel manufacturer posted a sharp fall in earnings and revenue in the fourth quarter.
Net sales decreased 8% to $7.08 billion from $7.71 billion; net income declined to $287 million from $785 million, and earnings per diluted share fell to $1.22 from $3.16 a year ago.
The company shipped 6,058,000 tons of steel in the fourth quarter, a 2% increase from a year earlier.
For the full year 2024, Nucor returned $2.74 billion to shareholders in the form of stock repurchases and dividends.
Sanmina Corp added 1.8% to $79.90 after the integrated advanced chip manufacturing solutions company reported earnings for the fiscal first quarter 2025 ending in December.
Net sales increased to $2.01 billion from $1.87 billion; operating income rose to $88.6 million from $87.58 million, and earnings per diluted share jumped to $1.16 from 98 cents a year ago.
Net change in cash and cash equivalents swung to $16.54 million from negative $35.98 million a year earlier, driven by purchases of property and equipment.
Looking ahead to the second quarter, the company expects GAAP earnings per diluted share to range between $1.03 and $1.13.
Sysco Corp added 0.7% to $77.40 after the food and kitchen equipment provider posted fiscal second quarter 2025 earnings ending in December.
Sales increased 4.5% to $20.15 billion from $19.29 billion; operating income jumped 1.7% to $712 million from $700 million a year ago, and earnings per diluted share were flat at 82 cents a share.
Looking ahead, the company estimated full-year sales growth between 4% and 5% and adjusted earnings per share to increase between 6% and 7%.
Sysco expanded its stock repurchase plan for the year to $1.25 billion, up from its previous plan of $1 billion.
Mild Rebound On Wall Street After Investors Reassess AI Infrastructure Spending Needs
Barry Adams
28 Jan, 2025
New York City
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.5%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely advertised and wild claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
U.S. Indexes and Treasury Yields
The S&P 500 index declined 0.1% to 6,006.00, the Nasdaq Composite edged up 0.2% to 19,379.12, and the Russell 2000 index was down 0.1% to 2,281.08.
The yield on 2-year Treasury notes edged higher to 4.22%, 10-year Treasury notes climbed to 4.56%, and 30-year Treasury bonds moved up to 4.80%.
WTI crude oil increased $1.05 to $74.21 a barrel, and natural gas prices edged lower by $0.16 to $3.54 a thermal unit.
Gold rose by $8.28 to 2,749.80 an ounce, and silver edged down by $0.03 to $30.14.
The dollar index, which weighs the US currency against a basket of foreign currencies, gained 0.57 to 107.91 and traded at a two-year high.
Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.
Mild Rebound On Wall Street After Investors Reassess AI Infrastructure Spending Needs
Barry Adams
28 Jan, 2025
New York City
Wall Street indexes attempted a rebound a day after a sharp sell-off that saw leading artificial intelligence company stocks plunge as much as 17%.
Nvidia plunged 17%, Broadcom declined 9%, and AMD dropped 5%.
The S&P 500 index edged up 0.3%, and the Nasdaq Composite advanced 0.5%, but investors remained cautious about investment by large tech companies in artificial intelligence infrastructure.
The emergence of cheaper and more cost-competitive artificial models by China's upstart DeepSeek raised doubts about the need to purchase expensive servers using the latest advanced chips for building large language models using artificial intelligence.
China's DeepSeek claims it developed its advanced chatbot for $6 million, and the app with the open-source models was most downloaded on the Apple App Store in January, displacing ChatGPT.
Investors are hoping that the latest wave of nationwide strikes organized by the new presidential administration is likely to have less impact on the labor market.
Despite the widely advertised and wild claims by the Trump administration of more than 12 million illegal immigrants, federal government agencies managed to arrest less than 1,000 illegal immigrants in multiple raids over the last three days.
Moreover, in the first week of the new presidential administration, at least 12,000 illegal immigrants have crossed the southern border, according to several independent analysts tracking migrant flows.
Former President Biden's administration deported more than 4 million illegal immigrants, sharply higher than the 1.6 million deported under the first presidential administration of Donald Trump.
Durable Goods Orders Extended Decline In December
On the economic front, new orders for durable goods declined in four of the last five months, the U.S. Census Bureau reported Tuesday.
Durable goods orders decreased 2.2% from the previous month to $276.1 billion, and this followed a 2% decline in November.
On an annual basis and not adjusted for seasonal factors, durable goods orders dropped nearly 4% to $288.6 billion in December from $299.9 billion a year ago.
Non-defense capital goods orders declined to $95 billion from $115.2 billion, and orders excluding aircraft orders, which are considered a proxy for business spending, rose to $78.4 billion from $76.2 billion a year ago.
Stock Movers
Nvidia rebounded 3.2% to $122.38, Broadcom jumped 3.2% to $208.50, Meta Platforms advanced 1% to $665.63, and Alphabet Inc. gained 0.7% to $193.08.
Boeing Company declined 0.3% to $175.35 after the aviation company reported higher-than-expected losses and weaker-than-expected revenue in the fourth quarter.