US stocks rebounded on Wednesday, supported by strong earnings from Morgan Stanley, United Airlines and others, which helped offset recent losses in technology shares.
- S&P 500 Futures Contract: 5,863.50 ⬆️ up 0.01%
- S&P 500: 5,842.47 ⬆️ up 0.47%
- Nasdaq Composite: 18,367.08 ⬆️ up 0.28%
- Dow Jones Industrial Average: 43,077.70 ⬆️ up 0.79%
- STOXX Europe 600: 519.60 ⬇️ down 0.19%
- CSI 300: 3,831.59 ⬇️ down 0.63%
- Nikkei 225: 39,180.30 ⬇️ down 1.83%
- Bitcoins: $67,703.45 ⬆️ up 0.97%
US: Markets steady as corporate earnings spark optimism
The S&P 500 rose 0.47%, recovering from Tuesday’s slump, while the Dow Jones added 0.79%. Nvidia shares rose 3.1%, after suffering a sharp decline the previous day. US markets experienced a decline earlier this week on warnings from ASML about weakness in the semiconductor sector outside AI, although the chip giant recovered slightly in Wednesday trading.
Europe: Luxury and semiconductor issues weigh on stocks
European markets were lower on Wednesday, with the Stoxx 600 down 0.19%. Semiconductor sector concerns reinforced by ASML’s disappointing outlook and LVMH’s warning about weak sales in China drove the decline. LVMH fell 3.9%, and ASML fell 3.2%. However, the FTSE 100 bucked the trend, rising 0.97%, after UK inflation fell to its lowest level in more than three years, fueling hopes of a potential rate cut by the Bank of England.
China: Markets remain stable ahead of renewed housing stimulus
Chinese shares remained relatively steady on Wednesday, awaiting a housing market report scheduled for Thursday that could provide clues about new stimulus measures. The CSI 300 fell 0.63%, reflecting cautious sentiment among investors after heavy losses on Tuesday. Housing stocks managed to limit losses across the board, with the Shanghai Composite edging up 0.05%.
Japan: Semiconductor weakness pulls Nikkei sharply lower
Japan’s Nikkei 225 slumped 1.83%, led by a sharp decline in semiconductor shares following a downgrade in ASML’s outlook. Tokyo Electron fell 9.19%, and Softbank, which holds a large stake in Arm Holdings, fell 3.97%. Semiconductor sector weakness continues to weigh on Japanese markets, following the release of early ASML results showing weak demand outside AI-related industries.
Earnings season continues…
Netflix earnings are due tomorrow and P&G and American Express are due on Friday.
