Wall Street Index Extend Rally to Second Consecutive Week

Barry Adams
24 Jan, 2025
New York City

Wall Street indexes were little changed in Friday's trading as investors reviewed the latest batch of mixed earnings and debated the future rate path amid resurgent inflation. 

The S&P 500 index gained 0.04%, and the Nasdaq Composite advanced 0.2%, and investors looked ahead to the Federal Reserve's rate decisions next week. 

The Federal Reserve is widely anticipated to hold rates steady at the end of its two-day policy meeting ending on January 29. 

Investors are looking forward to the Fed's estimates on inflation, GDP, and the jobless rate for 2025. 

Despite positive market enthusiasm on Wall Street, inflationary forces are expected to remain strong in 2025, largely because of the steady increase in services prices and a rebound in energy prices from a lower base in the previous year. 

The Federal Reserve may be forced to keep higher interest rates for longer, and odds are rising that the central bank may be forced to consider an increase in rates in the second half. 

Investors reacted to a fresh batch of mixed earnings from leading companies, including results from Boeing Company, CSX, Union Pacific, American Airlines, Texas Instruments, and Ericsson. 

U.S. Stock Movers 

Boeing Company declined 1% to $176.66 after the aviation company released preliminary fourth-quarter results. 

CSX Corp. decreased 4.2% to $32.25 after the railroad operator reported weaker-than-expected revenue in the fourth quarter. 

Texas Instruments decreased 4.9% to $191.28 after the advanced semiconductor company's current quarter earnings outlook disappointed some investors. 

Twilio Inc. jumped 20% to $136.13 after the cloud communication software services provider estimated strong revenue growth in the years ahead. 

The company also announced a $2 billion stock repurchase plan, supported by rising earnings and free cash flow. 

American Express increased 1% to $324.90 after the charge card company posted record revenue in 2024.

Europe Movers: 4imprint, Burberry, Ericsson, Givaudan, Signify

Inga Muller
24 Jan, 2025
Frankfurt

European markets lacked direction in Friday's trading but logged strong weekly gains ahead of rate decisions next week. 

The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85. 

The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.

Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.

Fourth-quarter sales increased 1% to SEK 72.9 billion from SEK 71.9 billion, net income rose 43% to SEK 4.9 billion from SEK 3.4 billion, and diluted earnings per share jumped to SEK 1.44 from SEK 1.02 a year ago.

Network sales grew by 4% to SEK 46.8 billion despite a currency negative impact; cloud software and services sales declined by 1% to SEK 19.5 billion, and enterprise sales dropped by 9% to SEK 6.1 billion.

Sales in Southeast Asia, Oceania, and India plunged by 38%, following a record year in 2023, and sales in Northeast Asia declined by 22% due to fewer investments in some 5G frontrunner markets.

Cash flow from operating activities rose to SEK 17.5 billion from SEK 14.5 billion, while cash from investing and financing activities remained negative.

Free cash flow after mergers and acquisitions increased to SEK 15.7 billion from SEK 12.2 billion a year ago.

Ericsson expects to pay dividends on April 1 and October 2 to shareholders on record by March 27 and September 29, 2025. 

4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue increase in 2024.

Revenue is expected to rise 3% to $1.37 billion from $1.33 billion; profit before tax is expected to increase to $153 million from $141 million a year ago, surpassing the upper range of analyst projections.

Gross profit margin has remained strong at around 32%, driven by a 5% rise in customer orders, although new orders were down 9% from the prior year.

Excluding a $20 million investment to expand the Oshkosh apparel distribution center, 4imprint expects unaudited cash and bank deposits to rise to $148 million from $105 million a year ago.

Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.

Revenue dropped 7% to £659 million from £706 million, and overall comparable store sales fell 4%.

Comparable sales in the Asia-Pacific region decreased 9%, and in Europe, the Middle East, India, and Africa, they fell 2%, but in the Americas, comparable sales rose 4%.

Second-half results will broadly offset the first-half adjusted operating loss, the company said in a statement.

Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.

Sales in fiscal year 2024 increased 7.2% to CHF 7.4 billion from CHF 6.9 billion; net income rose 21% to CHF 1.09 billion from CHF 893 million, and earnings per share rose to CHF 118.2 from CHF 96.81 a year ago.

Operating cash flow surged 18.4% to CHF 1.62 billion, driven by a 10.5% increase in fragrance and beauty sales and taste and wellbeing sales up 4.1% from the previous year.

Sales growth was highest in South Asia, the Middle East, and Africa, as well as in Latin America, while in Asia Pacific the company recorded an 8.8% growth compared to a loss of 2.6% last year. 

In North America, sales increased 5.5% from a loss of 7.5% last year.

On March 20, 2025, Givaudan’s board will propose a cash dividend of CHF 70.00 per share, an increase of 2.9% versus 2023.

This is the twenty-fourth consecutive dividend increase since the company was listed on the Swiss stock exchange in 2000.

Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.

Sales declined to €1.65 billion from €1.73 billion; net income rose to €119 million from €59 million, and earnings per share jumped to €0.91 from €0.44 a year ago.

Signify management proposed a cash dividend of €1.56 per share for 2024, to be approved by the company's board on April 25, 2025.

The company’s stock repurchase program is worth €350 million to €450 million of shares until the end of 2027.

Europe Movers: 4imprint, Burberry, Ericsson, Givaudan, Signify

Inga Muller
24 Jan, 2025
Frankfurt

European markets lacked direction in Friday's trading but logged strong weekly gains ahead of rate decisions next week. 

The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85. 

The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.

Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.

Fourth-quarter sales increased 1% to SEK 72.9 billion from SEK 71.9 billion, net income rose 43% to SEK 4.9 billion from SEK 3.4 billion, and diluted earnings per share jumped to SEK 1.44 from SEK 1.02 a year ago.

Network sales grew by 4% to SEK 46.8 billion despite a currency negative impact; cloud software and services sales declined by 1% to SEK 19.5 billion, and enterprise sales dropped by 9% to SEK 6.1 billion.

Sales in Southeast Asia, Oceania, and India plunged by 38%, following a record year in 2023, and sales in Northeast Asia declined by 22% due to fewer investments in some 5G frontrunner markets.

Cash flow from operating activities rose to SEK 17.5 billion from SEK 14.5 billion, while cash from investing and financing activities remained negative.

Free cash flow after mergers and acquisitions increased to SEK 15.7 billion from SEK 12.2 billion a year ago.

Ericsson expects to pay dividends on April 1 and October 2 to shareholders on record by March 27 and September 29, 2025. 

4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue increase in 2024.

Revenue is expected to rise 3% to $1.37 billion from $1.33 billion; profit before tax is expected to increase to $153 million from $141 million a year ago, surpassing the upper range of analyst projections.

Gross profit margin has remained strong at around 32%, driven by a 5% rise in customer orders, although new orders were down 9% from the prior year.

Excluding a $20 million investment to expand the Oshkosh apparel distribution center, 4imprint expects unaudited cash and bank deposits to rise to $148 million from $105 million a year ago.

Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.

Revenue dropped 7% to £659 million from £706 million, and overall comparable store sales fell 4%.

Comparable sales in the Asia-Pacific region decreased 9%, and in Europe, the Middle East, India, and Africa, they fell 2%, but in the Americas, comparable sales rose 4%.

Second-half results will broadly offset the first-half adjusted operating loss, the company said in a statement.

Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.

Sales in fiscal year 2024 increased 7.2% to CHF 7.4 billion from CHF 6.9 billion; net income rose 21% to CHF 1.09 billion from CHF 893 million, and earnings per share rose to CHF 118.2 from CHF 96.81 a year ago.

Operating cash flow surged 18.4% to CHF 1.62 billion, driven by a 10.5% increase in fragrance and beauty sales and taste and wellbeing sales up 4.1% from the previous year.

Sales growth was highest in South Asia, the Middle East, and Africa, as well as in Latin America, while in Asia Pacific the company recorded an 8.8% growth compared to a loss of 2.6% last year. 

In North America, sales increased 5.5% from a loss of 7.5% last year.

On March 20, 2025, Givaudan’s board will propose a cash dividend of CHF 70.00 per share, an increase of 2.9% versus 2023.

This is the twenty-fourth consecutive dividend increase since the company was listed on the Swiss stock exchange in 2000.

Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.

Sales declined to €1.65 billion from €1.73 billion; net income rose to €119 million from €59 million, and earnings per share jumped to €0.91 from €0.44 a year ago.

Signify management proposed a cash dividend of €1.56 per share for 2024, to be approved by the company's board on April 25, 2025.

The company’s stock repurchase program is worth €350 million to €450 million of shares until the end of 2027.

European Markets Extend Weekly Gains Ahead of ECB's Rate Decisions Next Week

Bridgette Randall
24 Jan, 2025
London

European markets struggled to advance in cautious trading on the final trading day of the week as attention shifted to central banks actions next week. 

The European Central Bank and the U.S. Federal Reserve are set to announce their rate decisions next week, and policymakers are likely to consider heightened geopolitical tensions.

The European Central Bank is expected to lower its policy rates by 25 basis points, and investors are hoping that the central bank will signal additional possibilities of additional rates in the near future.

The Federal Reserve is widely anticipated to hold the Fed Funds rate range unchanged amid worries about the resurgent inflation driven in part by higher tariffs on imported goods.

Benchmark indexes in Paris, Frankfurt, Milan, and London meandered after private sector activities in the eurozone unexpectedly expanded in January. 

The HCOB Eurozone Composite PMI increased to 50.2 in January from 49.6 in the previous month, S&P Global noted in the monthly survey released on Friday. 

The expansion in activities was driven by the sustained increase in service sector activities to 51.4 from 51.6, but manufacturing activities continued to shrink, but at a slower pace, 46.1 from 45.1 in December, respectively. 

For the week, the DAX index gained 2.7%, the CAC-40 index advanced 3%, and the FTSE 100 index rose 0.3%. 

Europe Indexes and Yields

The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85. 

The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.

The euro edged up to $1.05; the British pound inched up to $1.24; and the U.S. dollar weakened to 90.55 Swiss cents.

Brent crude increased $0.36 to $78.65 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.

Europe Stock Movers

Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.

4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue rise in 2024.

Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.

Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.

Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.

European Markets Extend Weekly Gains Ahead of ECB's Rate Decisions Next Week

Bridgette Randall
24 Jan, 2025
London

European markets struggled to advance in cautious trading on the final trading day of the week as attention shifted to central banks actions next week. 

The European Central Bank and the U.S. Federal Reserve are set to announce their rate decisions next week, and policymakers are likely to consider heightened geopolitical tensions.

The European Central Bank is expected to lower its policy rates by 25 basis points, and investors are hoping that the central bank will signal additional possibilities of additional rates in the near future.

The Federal Reserve is widely anticipated to hold the Fed Funds rate range unchanged amid worries about the resurgent inflation driven in part by higher tariffs on imported goods.

Benchmark indexes in Paris, Frankfurt, Milan, and London meandered after private sector activities in the eurozone unexpectedly expanded in January. 

The HCOB Eurozone Composite PMI increased to 50.2 in January from 49.6 in the previous month, S&P Global noted in the monthly survey released on Friday. 

The expansion in activities was driven by the sustained increase in service sector activities to 51.4 from 51.6, but manufacturing activities continued to shrink, but at a slower pace, 46.1 from 45.1 in December, respectively. 

For the week, the DAX index gained 2.7%, the CAC-40 index advanced 3%, and the FTSE 100 index rose 0.3%. 

Europe Indexes and Yields

The DAX index moved higher by 0.3% to 21,472.45; the CAC-40 index jumped 0.9% to 7,966.92; and the FTSE 100 index eased by 0.3% to 8,536.85. 

The yield on 10-year German bonds inched higher to 2.55%, French bonds rose to 3.32%, the UK gilts increased to 4.67%, and Italian bonds edged higher to 3.66%.

The euro edged up to $1.05; the British pound inched up to $1.24; and the U.S. dollar weakened to 90.55 Swiss cents.

Brent crude increased $0.36 to $78.65 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.

Europe Stock Movers

Ericsson traded flat at 97.62 krona after the Swedish telecom company missed estimates as sales in India remained slow.

4imprint Group Plc gained 0.2% to 5,600 pence after the international direct marketer of promotional products posted a 3% revenue rise in 2024.

Burberry Group Plc surged 15% to 1,233 pence after the British luxury retailer said its third-quarter sales decline was lower than expected, helped by American shoppers.

Givaudan SA dropped 2.3% to CHF 3,849 after the cosmetic ingredients maker lifted its five-year sales target.

Signify NV added 4.3% to €23.72 after the Philips lighting spin-off said fourth-quarter comparable sales dropped by 2.8% due to weakness in Europe and China.

BoJ Lifts Rates to 17-Year High, Consumer Inflation Accelerates In December

Akira Ito
24 Jan, 2025
Tokyo

Stock market indexes in Tokyo lacked direction in Friday's trading after the Bank of Japan raised rates as expected. 

The Nikkei 2225 stock average and the TOPIX decreased after investors reviewed the latest inflation update. 

BoJ Hikes Rates to Highest Since 2008 

The Bank of Japan raised its short-term rates by 25 basis points to 0.5%, the third increase in rates since the central bank ended its negative rate policy in March 2024.

The rate-setting committee approved increasing rates in an 8-1 vote, confirming strong support for the rate action. 

The central bank also signaled additional rate hikes and indicated that policymakers are ready to reduce monetary support to the economy.

The central bank also raised its core inflation outlook to 2.7% from its previous outlook of 2.5% in October and to 2.4% in fiscal 2025 and 2.0% in fiscal 2026. 

Policymakers lowered their fiscal 2024 GDP growth outlook to 0.5% from the previous estimate of 0.6%, but the central bank held its growth estimate for fiscal 2025 at 1.1% and for fiscal 2026 at 1.0%. 

The Japanese yen edged lower to 155.68 against the U.S. dollar after the Bank of Japan raised its policy rates. 

Consumer Price Inflation Accelerated Second Month In December 

Consumer price inflation accelerated to 3.6% in December from 2.9% in the previous month, according to the estimate released by the Ministry of Internal Affairs & Communications on Friday. 

The consumer price inflation advanced at the fastest pace since January 2023, driven by a 6.4% jump in food prices.

Higher costs of housing, transportation, and recreation also added to the upward price pressures. 

The core rate of inflation, which excludes energy prices only, rose to a 16-moth high of 3.0% from 2.7% in November.  

Japan Stock Movers

The Nikkei 225 Stock Average decreased by 0.07% to 39,931.98, and the broader TOPIX decreased 0.03% to 2,751.04. 

For the week, the Nikkei 225 stock average rose 2.8%, and the TOPIX advanced 1.7%.

Sumitomo Mitsui Financial Group declined 0.5% to ¥3,750.0, Mitsubishi UFJ Financial Group was unchanged at ¥1,907.0, and Mizuho Financial Group added 0.8% to ¥3,986.0. 

BoJ Lifts Rates to 17-Year High, Consumer Inflation Accelerates In December

Akira Ito
24 Jan, 2025
Tokyo

Stock market indexes in Tokyo lacked direction in Friday's trading after the Bank of Japan raised rates as expected. 

The Nikkei 2225 stock average and the TOPIX decreased after investors reviewed the latest inflation update. 

BoJ Hikes Rates to Highest Since 2008 

The Bank of Japan raised its short-term rates by 25 basis points to 0.5%, the third increase in rates since the central bank ended its negative rate policy in March 2024.

The rate-setting committee approved rates in an 8-1 vote, citing strong support the rate action. 

The central bank also signaled additional rate hikes and indicated that policymakers are ready to reduce monetary support to the economy.

The central bank also raised its core inflation outlook to 2.7% from its previous outlook of 2.5% in October and to 2.4% in fiscal 2025 and 2.0% in fiscal 2026. 

Policymakers lowered their fiscal 2024 GDP growth outlook to 0.5% from the previous estimate of 0.6%, but the central bank held its growth estimate for fiscal 2025 at 1.1% and for fiscal 2026 at 1.0%. 

The Japanese yen edged lower to 155.68 against the U.S. dollar after the Bank of Japan raised its policy rates. 

Consumer Price Inflation Accelerated Second Month In December 

Consumer price inflation accelerated to 3.6% in December from 2.9% in the previous month, according to the estimate released by the Ministry of Internal Affairs & Communications on Friday. 

The consumer price inflation advanced at the fastest pace since January 2023, driven by a 6.4% jump in food prices.

Higher costs of housing, transportation, and recreation also added to the upward price pressures. 

The core rate of inflation, which excludes energy prices only, rose to a 16-moth high of 3.0% from 2.7% in November.  

Japan Stock Movers

The Nikkei 225 Stock Average decreased by 0.07% to 39,931.98, and the broader TOPIX decreased 0.03% to 2,751.04. 

For the week, the Nikkei 225 stock average rose 2.8%, and the TOPIX advanced 1.7%.

Sumitomo Mitsui Financial Group declined 0.5% to ¥3,750.0, Mitsubishi UFJ Financial Group was unchanged at ¥1,907.0, and Mizuho Financial Group added 0.8% to ¥3,986.0. 

China and Hong Kong Stocks Advanced, PBoC Held Rates Steady

Li Chen
24 Jan, 2025
Hong Kong

Stock market indexes in China and Hong Kong advanced after Beijing stepped up measures to bolster stock markets. 

The Hang Seng index gained 1.6%, and the mainland-focused CSI 300 index advanced 0.8% after the People's Bank of China held its medium-term lending rate steady.

China's central bank held its one-year medium-term lending facility rate steady at 2%, meeting the market expectations. 

The China Securities Regulatory Commission urged investment and insurance companies to increase their exposure to onshore stocks for the second day in a row. 

Insurance companies are required to invest about 30% of premiums received from new policies into the stock market starting this year, according to a directive released by the regulator on Thursday.

China Stock Movers 

The Hang Seng index increased 1.6% to 20,023.69, and the mainland-focused CSI 300 index added 0.8% to 3,832.86. 

For the week, the CSI 300 index was nearly unchanged, and the Hang Seng index gained 1.2%. 

Electric vehicle makers were in focus after the three leading companies filed a legal case against the European Commission related to its anti-dumping subsidies on the Chinese makers. 

BYD increased 1.3% to HK $274.20, Li Auto Inc. advanced 2.6% to HK $89.60, and Geely Auto increased 2.2% to HK $14.46. 

Nongfu Spring Co. Ltd. gained 3.5% to HK $35.10 after the company's founder, Zhong Shanshan, vowed to end the price war after a year of aggressive price cuts and personal attacks. 

Avic Yishang Warehouse advanced 10% to 2.95 yuan on the first day of trading in Shanghai after the company completed its initial public offering. 

E Fund Huawei Farmers shot up 25% to 3.55 yuan after the company completed its initial public offering and listed its stock on the Shenzhen stock exchange. 

China and Hong Kong Stocks Advanced, PBoC Held Rates Steady

Li Chen
24 Jan, 2025
Hong Kong

Stock market indexes in China and Hong Kong advanced after Beijing stepped up measures to bolster stock markets. 

The Hang Seng index gained 1.6%, and the mainland-focused CSI 300 index advanced 0.8% after the People's Bank of China held its medium-term lending rate steady.

China's central bank held its one-year medium-term lending facility rate steady at 2%, meeting the market expectations. 

The China Securities Regulatory Commission urged investment and insurance companies to increase their exposure to onshore stocks for the second day in a row. 

Insurance companies are required to invest about 30% of premiums received from new policies into the stock market starting this year, according to a directive released by the regulator on Thursday.

China Stock Movers 

The Hang Seng index increased 1.6% to 20,023.69, and the mainland-focused CSI 300 index added 0.8% to 3,832.86. 

For the week, the CSI 300 index was nearly unchanged, and the Hang Seng index gained 1.2%. 

Electric vehicle makers were in focus after the three leading companies filed a legal case against the European Commission related to its anti-dumping subsidies on the Chinese makers. 

BYD increased 1.3% to HK $274.20, Li Auto Inc. advanced 2.6% to HK $89.60, and Geely Auto increased 2.2% to HK $14.46. 

Nongfu Spring Co. Ltd. gained 3.5% to HK $35.10 after the company's founder, Zhong Shanshan, vowed to end the price war after a year of aggressive price cuts and personal attacks. 

Avic Yishang Warehouse advanced 10% to 2.95 yuan on the first day of trading in Shanghai after the company completed its initial public offering. 

E Fund Huawei Farmers shot up 25% to 3.55 yuan after the company completed its initial public offering and listed its stock on the Shenzhen stock exchange. 

India Movers: Adani Green Energy, Dr. Reddy's, HPCL, Indus Towers, Syngene International, Ultratech Cement, Zee Entertainment

Arun Goswami
24 Jan, 2025
Mumbai

The Sensex and the Nifty indexes barely advanced after a week of trading amid caution ahead of the release of the Union Budget next week. 

The Sensex index decreased by 0.2% to 76,370.52, and the Nifty index fell by 0.3% to 23,161.45.

On the Mumbai stock exchange, 23 stocks traded at their 52-week highs, and 50 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.76%, and the Indian rupee hovered near a record low and traded at 86.25 against the U.S. dollar.

Dr. Reddy's Laboratories Ltd. decreased 0.5% to ₹1,289.35 despite the drugmaker reporting better-than-expected revenue in the December quarter. 

Investors sold stocks on the worry that the company's blockbuster cancer treatment drug, and a key revenue driver in recent quarters, Revlimid, showed a decline in revenue. 

Moreover, Revlimid's patent is expiring in January 2026, and there is no other drug in the pipeline to replace the potential loss in revenue in the coming year. 

Consolidated revenue in the December quarter increased to ₹8,358.6 crore from ₹7,214.8 crore, after-tax profit advanced to ₹1,403.8 crore from ₹1,378.9 crore, and diluted earnings per share rose to ₹16.94 from ₹16.54 a year ago.

Hindustan Petroleum Corporation Ltd. decreased 2.1% to ₹362.20 despite profit jumping more than threefold in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹1,19,501.1 crore from ₹1,19,013.3 crore, net income jumped to ₹2,543.65 crore from ₹712.8 crore, and diluted earnings per share rose to ₹11.94 from ₹3.35 a year ago.

Zee Entertainment Enterprises Ltd. increased 1% to ₹121.80, and the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,013.3 crore from ₹2,073.4 crore, after-tax profit jumped to ₹163.6 crore from ₹58.5 crore, and diluted earnings per share rose to ₹1.70 from 61 paisa a year ago.

Amber Enterprises India Ltd. jumped 7.8% to ₹6,777.15 after the company swung to a profit in the December quarter.

Consolidated revenue in the December quarter advanced to ₹ 2,149.30 crore from ₹1300 crore, net income swung to a profit of ₹37 crore from a loss of ₹0.51 crore and diluted earnings per share swung to ₹10.55 from a loss of 14 paisa a year ago.

Adani Green Energy Ltd. increased 3.1% to ₹1,053.30 after the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,630 crore from ₹2,675 crore, net income jumped to ₹474 crore from ₹256 crore, and diluted earnings per share rose to ₹2.92 from ₹1.42 a year ago.

Ultratech Cement Ltd. increased 1.2% to ₹11,546.05 despite the company reporting a decline in profit in the December quarter.

Consolidated revenue in the December quarter increased to ₹17,437.62 crore from ₹16,880.45 crore, after-tax profit fell to ₹1,473.51 crore from ₹1,774.78 crore, and diluted earnings per share dropped to ₹50.94 from ₹61.61 a year ago.

Indus Towers Ltd. increased 1% to ₹371 despite the company reporting a near three-fold increase in profit in the December quarter after the company received overdue payment from a telecom provider. 

Consolidated revenue in the December quarter advanced to ₹7,631.2 crore from ₹7,297.9 crore, net income jumped to ₹4,003.2 crore from ₹1,540.5 crore, and diluted earnings per share rose to ₹15.17 from ₹5.72 a year ago.

Syngene International Ltd. declined 6.5% to ₹792 despite the contract research organization reporting a strong rise in net income and revenue in the December quarter. 

Consolidated revenue in the December quarter advanced to ₹962 crore from ₹882.8 crore, after-tax profit expended to ₹131.1 crore from ₹111.5 crore, and diluted earnings per share rose to ₹3.26 from ₹2.77 a year ago.

India Movers: Adani Green Energy, Dr. Reddy's, HPCL, Indus Towers, Syngene International, Ultratech Cement, Zee Entertainment

Arun Goswami
24 Jan, 2025
Mumbai

The Sensex and the Nifty indexes barely advanced after a week of trading amid caution ahead of the release of the Union Budget next week. 

The Sensex index decreased by 0.2% to 76,370.52, and the Nifty index fell by 0.3% to 23,161.45.

On the Mumbai stock exchange, 23 stocks traded at their 52-week highs, and 50 stocks traded at their 52-week lows.

The yield on the 10-year Indian government bonds inched lower to 6.76%, and the Indian rupee hovered near a record low and traded at 86.25 against the U.S. dollar.

Dr. Reddy's Laboratories Ltd. decreased 0.5% to ₹1,289.35 despite the drugmaker reporting better-than-expected revenue in the December quarter. 

Investors sold stocks on the worry that the company's blockbuster cancer treatment drug, and a key revenue driver in recent quarters, Revlimid, showed a decline in revenue. 

Moreover, Revlimid's patent is expiring in January 2026, and there is no other drug in the pipeline to replace the potential loss in revenue in the coming year. 

Consolidated revenue in the December quarter increased to ₹8,358.6 crore from ₹7,214.8 crore, after-tax profit advanced to ₹1,403.8 crore from ₹1,378.9 crore, and diluted earnings per share rose to ₹16.94 from ₹16.54 a year ago.

Hindustan Petroleum Corporation Ltd. decreased 2.1% to ₹362.20 despite profit jumping more than threefold in the fiscal third quarter. 

Consolidated revenue in the December quarter increased to ₹1,19,501.1 crore from ₹1,19,013.3 crore, net income jumped to ₹2,543.65 crore from ₹712.8 crore, and diluted earnings per share rose to ₹11.94 from ₹3.35 a year ago.

Zee Entertainment Enterprises Ltd. increased 1% to ₹121.80, and the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,013.3 crore from ₹2,073.4 crore, after-tax profit jumped to ₹163.6 crore from ₹58.5 crore, and diluted earnings per share rose to ₹1.70 from 61 paisa a year ago.

Amber Enterprises India Ltd. jumped 7.8% to ₹6,777.15 after the company swung to a profit in the December quarter.

Consolidated revenue in the December quarter advanced to ₹ 2,149.30 crore from ₹1300 crore, net income swung to a profit of ₹37 crore from a loss of ₹0.51 crore and diluted earnings per share swung to ₹10.55 from a loss of 14 paisa a year ago.

Adani Green Energy Ltd. increased 3.1% to ₹1,053.30 after the company reported a sharp jump in profit in the December quarter. 

Consolidated revenue in the December quarter decreased to ₹2,630 crore from ₹2,675 crore, net income jumped to ₹474 crore from ₹256 crore, and diluted earnings per share rose to ₹2.92 from ₹1.42 a year ago.

Ultratech Cement Ltd. increased 1.2% to ₹11,546.05 despite the company reporting a decline in profit in the December quarter.

Consolidated revenue in the December quarter increased to ₹17,437.62 crore from ₹16,880.45 crore, after-tax profit fell to ₹1,473.51 crore from ₹1,774.78 crore, and diluted earnings per share dropped to ₹50.94 from ₹61.61 a year ago.

Indus Towers Ltd. increased 1% to ₹371 despite the company reporting a near three-fold increase in profit in the December quarter after the company received overdue payment from a telecom provider. 

Consolidated revenue in the December quarter advanced to ₹7,631.2 crore from ₹7,297.9 crore, net income jumped to ₹4,003.2 crore from ₹1,540.5 crore, and diluted earnings per share rose to ₹15.17 from ₹5.72 a year ago.

Syngene International Ltd. declined 6.5% to ₹792 despite the contract research organization reporting a strong rise in net income and revenue in the December quarter. 

Consolidated revenue in the December quarter advanced to ₹962 crore from ₹882.8 crore, after-tax profit expended to ₹131.1 crore from ₹111.5 crore, and diluted earnings per share rose to ₹3.26 from ₹2.77 a year ago.

U.S. and Global Indexes Rest Near Record Levels Ahead of Rate Decisions

Alexander Garcia
23 Jan, 2025
Miami

Wall Street indexes meandered around the flatline as investors reviewed the latest batch of mixed earnings and braced for the chaotic new U.S. president's administration. 

The S&P 500 index and the Nasdaq Composite hovered near record highs, driven by ongoing economic strength despite the expected chaotic administration of the newly elected president.

Market participants are overlooking the narrow majority of the Republican Party in the U.S. House, a lack of a coherent plan to trim the elevated federal government debt, and the negative impact on businesses and consumers of the looming trade tariffs.

Moreover, investors are overlooking the resurgent inflation, largely driven by possible increases in tariffs on imported goods paid by the U.S. consumers, forcing the Federal Reserve to keep higher interest for longer.

On the economic front, initial weekly jobless claims increased by 6,000 from the previous month to 223,000 in the period ending January 18, the U.S. Department of Labor reported Thursday. 

Meanwhile, continuing claims advanced by 46,000 to 1.899 million in the week earlier, as outstanding claims data lagged initial claims data by one week. 

The outstanding jobless claims advanced to the highest level since November 2021, indicating job seekers are finding it harder to find a job.

U.S. Indexes and Treasury Yields

The S&P 500 index declined 0.6% to 6,082.93, the Nasdaq Composite eased 0.4% to 19,921.11, and the Russell 2000 index edged down 0.6% to 2,289.44.

The yield on 2-year Treasury notes edged higher to 4.31%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds rose to 4.87%.

WTI crude oil increased $0.47 to $75.88 a barrel, and natural gas prices edged higher by $0.08 to $4.04 a thermal unit.

Gold decreased by $10.89 to 2,744.27 an ounce, and silver edged down by $0.59 to $30.17.

The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.13 to 108.30 and traded at a two-year high.

U.S. Stock Movers

Electronic Arts traded down 11.6% to $125.90 after the video game publisher estimated lower-than-expected revenue in the current fiscal year. 

Alaska Air Group Inc. gained 2.9% to $69.33, and the discount airline estimated loss in the current quarter to shrink on robust travel demand. 

GE Vernova Inc dropped 1% to $426.68 after the power company posted strong fourth-quarter results.

American Airlines Group plunged 9.7% to $16.85 after the company issued cautious outlook for the current quarter. 

Revenue and earnings surpassed market expectations in the fourth quarter, but the international airline estimated an adjusted loss per share between 20 cents and 40 cents in the current quarter, higher than expected by Wall Street analysts.   

UK and Germany Indexes Hovered at New Record Highs Amid Mixed Corporate Updates 

European markets edged higher in active trading as investors reviewed the latest batch of earnings. 

Benchmark indexes in Frankfurt, Paris, London, and Milan edged higher, and investors awaited the ECB's rate decisions next week.

The European Central Bank is widely anticipated to lower its key lending rates by at least 25 basis points at the end of a two-day policy meeting on January 30.

Puma, Swedebank, Associated British Foods, IG Group, Essiy, and Tryg were among the leading companies reporting corporate updates on Thursday. 

Europe Indexes and Yields

The DAX index moved higher by 0.3% to 21,320.58; the CAC-40 index jumped 0.5% to 7,874.92; and the FTSE 100 index eased by 0.03% to 8,542.52.

The yield on 10-year German bonds inched higher to 2.51%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds edged higher to 3.62%.

The euro was flat at $1.04; the British pound was flat at $1.23; and the U.S. dollar was higher to 90.75 Swiss cents.

Brent crude increased $0.41 to $79.35 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.

Europe Stock Movers

Puma slumped 18% to €34.40 after the sportswear company reported a decline in fourth-quarter operating profit.

Associated British Foods Plc fell 2.8% to 1,883 pence after the UK-based food processor and parent company of Primark lowered its annual outlook amid struggling UK sales.

IG Group fell 3.2% to 1,039 pence after the British online trading platform posted a 30% rise in profit in the first-half of year 2025.

Sandvik AB gained 6.2% to 224.6 krona after the Swedish engineering company posted a slight increase in its fourth-quarter net income.

Swedebank climbed 3.7% to 245.6 krona after the Swedish bank posted improved earnings results for the fourth quarter.

CMC Markets plunged 18% to 216 pence after the UK-based online trading platform operator left its full-year fiscal 2025 revenue and earnings outlook unrevised.

Japan's Exports Jumped to Record High In December, Labor Unions Begin Spring Wage Talks 

Stock market indexes in Tokyo advanced to two-week highs ahead of the Bank of Japan's rate decisions tomorrow. 

The Nikkei 225 Stock Average increased 0.8% and the TOPIX advanced 0.5%, and both indexes extended gains for the fourth session in a row. 

The Bank of Japan officials in recent days have signaled a possible increase in rates on Friday and an upward revision in the inflation outlook. 

However, investors are divided, and many are anticipating the central bank to delay its rate increase after the ending of spring wage negotiations at large companies. 

After the historic wage increase of 5.1% in 2024, labor unions are hoping to negotiate a similar increase this year as wage talks kicked off this week.

However, smaller firms approved a far smaller wage increase, and most workers settled for a wage increase of between 1% and 2%. 

Japan's wages have been stagnant since 2000, as large Japanese companies expanded overseas and transferred manufacturing operations to China, Mexico, and the ASEAN region. 

On the economic front, Japan's exports increased 2.8% to 9.9 trillion yen, and imports advanced 1.8% to 9.7 trillion yen. 

Exports advanced for the third month in a row and reached a record high, and imports rose at the fastest pace in five months amid rising demand for energy and petroleum products.

Exports to China declined 3.0%, to the U.S. fell 2.1%, but rose to South Korea by 10.9% and to India by 5.5%. 

Imports from India soared 56.6%, from China gained 5.7%, and from the U.S. by 1.4%. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 0.8% to 39,958.87, and the broader TOPIX gained 0.5% to 2,751.74. 

Tokyo Electron declined 0.6% to¥27,430.0, Advantest Corp. gained 2.4% to¥10,050.0, and Disco Corp.¥50,860.0. 

SoftBank Group Corp. advanced 5.1% to ¥10,755.0 and extended two-day gains to more than 15% after the company was named in a group that claims to invest over $100 billion in building artificial intelligence infrastructure in the U.S. 

Seven &I Holdings declined 0.9% to ¥2,422.0, Fast Retailing added 1% to ¥49,570.0, Takashimaya increased 1% to ¥1,238.0, J Front Retailing advanced 3.2% to ¥2,074.0, and Aeon Co. Ltd. decreased 0.5% to ¥3,584.0. 

Isetan Mitsukoshi added 0.8% to ¥2,520.0. 

China Indexes Jumped 1% After Insurance Pilot Investment Plan to Boost Stocks 

Stock market indexes in China and Hong Kong diverged after the financial regulator announced a pilot program to bolster markets. 

The Hang Seng index erased morning gains of as much as 1% to trade lower by 0.4%, and the mainland-focused CSI 300 index jumped 1% following an announcement by the CSRC. 

The China Securities Regulatory Commission announced a pilot program to invest 30% of annual new insurance premiums in China's onshore markets, potentially boosting prices of large-cap companies. 

The pilot program starting this year would see an annual increase of 10% over the next three years, said Wu Qing, chairman of CSRC, at a press conference held in Beijing on Thursday. 

The regulator said about 100 billion yuan, or about $14 billion, will be invested in the first half of this year, including about half of the funds before the start of Lunar New Year on January 29.

China Stock Movers 

The Hang Seng index decreased 0.4% to 19,705.52, but the mainland-focused CSI 300 index rose 1% to 3,835.34. 

Ping An increased 1.8% to HK $42.70, China Life advanced 2.2% to HK $14.04, and AliHealth gained 0.7% to HK $3.15. 

Leading tech companies advanced after the regulatory announcement to divert insurance premiums into large-cap stocks over the next three years. 

Tencent Holdings decreased 0.5% to HK $380.40, JD.com fell 0.5% to HK $150.40, and Alibaba Group Holdings rose 0.6% to HK $82.70. 

Tencent and JD.com edged up nearly 1% in the early trading but erased gains near the close of the regular trading hours. 

Fuling Technology soared more than 360% to 24.05 yuan after the disposable tableware company priced its initial public offering and lifted its shares on the Shenzhen Stock Exchange. 

The company sold 147.33 million shares and raised 781 million, or $108.7 million, after pricing its shares at 5.30 yuan. 

U.S. and Global Indexes Rest Near Record Levels Ahead of Rate Decisions

Alexander Garcia
23 Jan, 2025
Miami

Wall Street indexes meandered around the flatline as investors reviewed the latest batch of mixed earnings and braced for the chaotic new U.S. president's administration. 

The S&P 500 index and the Nasdaq Composite hovered near record highs, driven by ongoing economic strength despite the expected chaotic administration of the newly elected president.

Market participants are overlooking the narrow majority of the Republican Party in the U.S. House, a lack of a coherent plan to trim the elevated federal government debt, and the negative impact on businesses and consumers of the looming trade tariffs.

Moreover, investors are overlooking the resurgent inflation, largely driven by possible increases in tariffs on imported goods paid by the U.S. consumers, forcing the Federal Reserve to keep higher interest for longer.

On the economic front, initial weekly jobless claims increased by 6,000 from the previous month to 223,000 in the period ending January 18, the U.S. Department of Labor reported Thursday. 

Meanwhile, continuing claims advanced by 46,000 to 1.899 million in the week earlier, as outstanding claims data lagged initial claims data by one week. 

The outstanding jobless claims advanced to the highest level since November 2021, indicating job seekers are finding it harder to find a job.

U.S. Indexes and Treasury Yields

The S&P 500 index declined 0.6% to 6,082.93, the Nasdaq Composite eased 0.4% to 19,921.11, and the Russell 2000 index edged down 0.6% to 2,289.44.

The yield on 2-year Treasury notes edged higher to 4.31%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds rose to 4.87%.

WTI crude oil increased $0.47 to $75.88 a barrel, and natural gas prices edged higher by $0.08 to $4.04 a thermal unit.

Gold decreased by $10.89 to 2,744.27 an ounce, and silver edged down by $0.59 to $30.17.

The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.13 to 108.30 and traded at a two-year high.

U.S. Stock Movers

Electronic Arts traded down 11.6% to $125.90 after the video game publisher estimated lower-than-expected revenue in the current fiscal year. 

Alaska Air Group Inc. gained 2.9% to $69.33, and the discount airline estimated loss in the current quarter to shrink on robust travel demand. 

GE Vernova Inc dropped 1% to $426.68 after the power company posted strong fourth-quarter results.

American Airlines Group plunged 9.7% to $16.85 after the company issued cautious outlook for the current quarter. 

Revenue and earnings surpassed market expectations in the fourth quarter, but the international airline estimated an adjusted loss per share between 20 cents and 40 cents in the current quarter, higher than expected by Wall Street analysts.   

UK and Germany Indexes Hovered at New Record Highs Amid Mixed Corporate Updates 

European markets edged higher in active trading as investors reviewed the latest batch of earnings. 

Benchmark indexes in Frankfurt, Paris, London, and Milan edged higher, and investors awaited the ECB's rate decisions next week.

The European Central Bank is widely anticipated to lower its key lending rates by at least 25 basis points at the end of a two-day policy meeting on January 30.

Puma, Swedebank, Associated British Foods, IG Group, Essiy, and Tryg were among the leading companies reporting corporate updates on Thursday. 

Europe Indexes and Yields

The DAX index moved higher by 0.3% to 21,320.58; the CAC-40 index jumped 0.5% to 7,874.92; and the FTSE 100 index eased by 0.03% to 8,542.52.

The yield on 10-year German bonds inched higher to 2.51%, French bonds rose to 3.28%, the UK gilts increased to 4.65%, and Italian bonds edged higher to 3.62%.

The euro was flat at $1.04; the British pound was flat at $1.23; and the U.S. dollar was higher to 90.75 Swiss cents.

Brent crude increased $0.41 to $79.35 a barrel, and the Dutch TTF natural gas rose by €0.17 to €49.91 per MWh.

Europe Stock Movers

Puma slumped 18% to €34.40 after the sportswear company reported a decline in fourth-quarter operating profit.

Associated British Foods Plc fell 2.8% to 1,883 pence after the UK-based food processor and parent company of Primark lowered its annual outlook amid struggling UK sales.

IG Group fell 3.2% to 1,039 pence after the British online trading platform posted a 30% rise in profit in the first-half of year 2025.

Sandvik AB gained 6.2% to 224.6 krona after the Swedish engineering company posted a slight increase in its fourth-quarter net income.

Swedebank climbed 3.7% to 245.6 krona after the Swedish bank posted improved earnings results for the fourth quarter.

CMC Markets plunged 18% to 216 pence after the UK-based online trading platform operator left its full-year fiscal 2025 revenue and earnings outlook unrevised.

Japan's Exports Jumped to Record High In December, Labor Unions Begin Spring Wage Talks 

Stock market indexes in Tokyo advanced to two-week highs ahead of the Bank of Japan's rate decisions tomorrow. 

The Nikkei 225 Stock Average increased 0.8% and the TOPIX advanced 0.5%, and both indexes extended gains for the fourth session in a row. 

The Bank of Japan officials in recent days have signaled a possible increase in rates on Friday and an upward revision in the inflation outlook. 

However, investors are divided, and many are anticipating the central bank to delay its rate increase after the ending of spring wage negotiations at large companies. 

After the historic wage increase of 5.1% in 2024, labor unions are hoping to negotiate a similar increase this year as wage talks kicked off this week.

However, smaller firms approved a far smaller wage increase, and most workers settled for a wage increase of between 1% and 2%. 

Japan's wages have been stagnant since 2000, as large Japanese companies expanded overseas and transferred manufacturing operations to China, Mexico, and the ASEAN region. 

On the economic front, Japan's exports increased 2.8% to 9.9 trillion yen, and imports advanced 1.8% to 9.7 trillion yen. 

Exports advanced for the third month in a row and reached a record high, and imports rose at the fastest pace in five months amid rising demand for energy and petroleum products.

Exports to China declined 3.0%, to the U.S. fell 2.1%, but rose to South Korea by 10.9% and to India by 5.5%. 

Imports from India soared 56.6%, from China gained 5.7%, and from the U.S. by 1.4%. 

Japan Stock Movers 

The Nikkei 225 Stock Average increased 0.8% to 39,958.87, and the broader TOPIX gained 0.5% to 2,751.74. 

Tokyo Electron declined 0.6% to¥27,430.0, Advantest Corp. gained 2.4% to¥10,050.0, and Disco Corp.¥50,860.0. 

SoftBank Group Corp. advanced 5.1% to ¥10,755.0 and extended two-day gains to more than 15% after the company was named in a group that claims to invest over $100 billion in building artificial intelligence infrastructure in the U.S. 

Seven &I Holdings declined 0.9% to ¥2,422.0, Fast Retailing added 1% to ¥49,570.0, Takashimaya increased 1% to ¥1,238.0, J Front Retailing advanced 3.2% to ¥2,074.0, and Aeon Co. Ltd. decreased 0.5% to ¥3,584.0. 

Isetan Mitsukoshi added 0.8% to ¥2,520.0. 

China Indexes Jumped 1% After Insurance Pilot Investment Plan to Boost Stocks 

Stock market indexes in China and Hong Kong diverged after the financial regulator announced a pilot program to bolster markets. 

The Hang Seng index erased morning gains of as much as 1% to trade lower by 0.4%, and the mainland-focused CSI 300 index jumped 1% following an announcement by the CSRC. 

The China Securities Regulatory Commission announced a pilot program to invest 30% of annual new insurance premiums in China's onshore markets, potentially boosting prices of large-cap companies. 

The pilot program starting this year would see an annual increase of 10% over the next three years, said Wu Qing, chairman of CSRC, at a press conference held in Beijing on Thursday. 

The regulator said about 100 billion yuan, or about $14 billion, will be invested in the first half of this year, including about half of the funds before the start of Lunar New Year on January 29.

China Stock Movers 

The Hang Seng index decreased 0.4% to 19,705.52, but the mainland-focused CSI 300 index rose 1% to 3,835.34. 

Ping An increased 1.8% to HK $42.70, China Life advanced 2.2% to HK $14.04, and AliHealth gained 0.7% to HK $3.15. 

Leading tech companies advanced after the regulatory announcement to divert insurance premiums into large-cap stocks over the next three years. 

Tencent Holdings decreased 0.5% to HK $380.40, JD.com fell 0.5% to HK $150.40, and Alibaba Group Holdings rose 0.6% to HK $82.70. 

Tencent and JD.com edged up nearly 1% in the early trading but erased gains near the close of the regular trading hours. 

Fuling Technology soared more than 360% to 24.05 yuan after the disposable tableware company priced its initial public offering and lifted its shares on the Shenzhen Stock Exchange. 

The company sold 147.33 million shares and raised 781 million, or $108.7 million, after pricing its shares at 5.30 yuan. 

China Indexes Jumped 1% After Insurance Pilot Investment Plan to Boost Stocks

Alexander Garcia
23 Jan, 2025
Miami

Stock market indexes in China and Hong Kong diverged after the financial regulator announced a pilot program to bolster markets. 

The Hang Seng index erased morning gains of as much as 1% to trade lower by 0.4%, and the mainland-focused CSI 300 index jumped 1% following an announcement by the CSRC. 

The China Securities Regulatory Commission announced a pilot program to invest 30% of annual new insurance premiums in China's onshore markets, potentially boosting prices of large-cap companies. 

The pilot program starting this year would see an annual increase of 10% over the next three years, said Wu Qing, chairman of CSRC, at a press conference held in Beijing on Thursday. 

The regulator said about 100 billion yuan, or about $14 billion, will be invested in the first half of this year, including about half of the funds before the start of Lunar New Year on January 29.

China Stock Movers 

The Hang Seng index decreased 0.4% to 19,705.52, but the mainland-focused CSI 300 index rose 1% to 3,835.34. 

Ping An increased 1.8% to HK $42.70, China Life advanced 2.2% to HK $14.04, and AliHealth gained 0.7% to HK $3.15. 

Leading tech companies advanced after the regulatory announcement to divert insurance premiums into large-cap stocks over the next three years. 

Tencent Holdings decreased 0.5% to HK $380.40, JD.com fell 0.5% to HK $150.40, and Alibaba Group Holdings rose 0.6% to HK $82.70. 

Tencent and JD.com edged up nearly 1% in the early trading but erased gains near the close of the regular trading hours. 

Fuling Technology soared more than 360% to 24.05 yuan after the disposable tableware company priced its initial public offering and lifted its shares on the Shenzhen Stock Exchange. 

The company sold 147.33 million shares and raised 781 million, or $108.7 million, after pricing its shares at 5.30 yuan. 

Wall Street Rally May Come to Abrupt Halt Facing Chaotic U.S. Presidential Administration

Barry Adams
23 Jan, 2025
New York City

Wall Street indexes struggled to stay above the flatline as investors reviewed the latest batch of mixed earnings and braced for the chaotic new U.S. president's administration. 

The S&P 500 index and the Nasdaq Composite hovered near record highs amid ongoing economic strength despite the expected chaotic administration of the newly elected president.

Market participants are overlooking the narrow majority of the Republican Party and a lack of a coherent plan to trim the elevated federal government debt and looming tariffs.

Moreover, investors are overlooking the resurgent inflation, largely driven by possible increases in tariffs on imported goods paid by the U.S. consumers, forcing the Federal Reserve to keep higher interest for longer.

U.S. Indexes and Treasury Yields

The S&P 500 index declined 0.6% to 6,082.93, the Nasdaq Composite eased 0.4% to 19,921.11, and the Russell 2000 index edged down 0.6% to 2,289.44.

The yield on 2-year Treasury notes edged higher to 4.31%, 10-year Treasury notes increased to 4.65%, and 30-year Treasury bonds rose to 4.87%.

WTI crude oil increased $0.47 to $75.88 a barrel, and natural gas prices edged higher by $0.08 to $4.04 a thermal unit.

Gold decreased by $10.89 to 2,744.27 an ounce, and silver edged down by $0.59 to $30.17.

The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.13 to 108.30 and traded at a two-year high.

U.S. Stock Movers

Electronic Arts traded down 11.6% to $125.90 after the video game publisher estimated lower-than-expected revenue in the current fiscal year. 

Alaska Air Group Inc. gained 2.9% to $69.33, and the discount airline estimated loss in the current quarter to shrink on robust travel demand. 

GE Vernova Inc dropped 1% to $426.68 after the power company posted strong fourth-quarter results.

American Airlines Group plunged 9.7% to $16.85 after the company issued cautious outlook for the current quarter. 

Revenue and earnings surpassed market expectations in the fourth quarter, but the international airline estimated an adjusted loss per share between 20 cents and 40 cents in the current quarter, higher than expected by Wall Street analysts.