US EditionAsia Stocks Mixed After Wall St Hits New Highs
U.S. annualized GDP growth revised up to 3.3%, boosting technology and communication sectors despite mixed earnings results, analysts say.
- On Thursday, U.S. stocks advanced broadly as the S&P 500 closed at a fresh record of 6,501.86 and the Dow Jones Industrial Average finished near a record at 45,636.90.
- Revised second-quarter U.S. GDP rose from 3%, mainly reflecting improvements in investment and consumer spending.
- Corporate earnings diverged on Friday, with Burlington Stores and Dollar General rallying on strong results, while Hormel Foods dropped 13.01% after issuing a weak outlook.
- Following the U.S. records, Asian markets showed mixed reactions as investors focus on Friday's PCE inflation data and upcoming retail earnings for growth and Fed signals.
- Despite record equity closes, market stress stayed low with the CBOE Volatility Index near year-to-date lows, while currencies and oil prices moved modestly, including Brent North Sea Crude at $68.10 and West Texas Intermediate at $64.09.
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Asia stocks mixed after Wall St hits new highs
Asian markets were mixed on Friday following recent strong gains and after the Dow and the S&P 500 hit new records.
New Strait Times
The Straits TimesUS stocks advance as Dow Jones, S&P 500 hit fresh records
NEW YORK: Two of Wall Street's major indexes closed Thursday at record highs, buoyed by an upward revision to second-quarter US GDP and strong results from AI chip giant Nvidia. © New Straits Times Press (M) Bhd
Stock Market Today: Markets Extend Rally as Economic Momentum Spurs Broad-Based Gains @themotleyfool #stocks $^DJI $^GSPC $^IXIC $AVGO $GOOGL $AMZN $NVDA $DG $HRL $BURL
The S&P 500 (SNPINDEX: ^GSPC) closed at a fresh record of 6,501.86, rising 20.46 points (0.32%), while the Nasdaq Composite (NASDAQINDEX: ^IXIC) outpaced with a 0.53% gain to 21,705.16, and the Dow Jones Industrial Average (DJINDICES: ^DJI) added 0.16% to finish at 45,636.90--also near a record high. Gains were underpinned by a revised second-quarter GDP report showing U.S. annualized growth of 3.3%, up from the preliminary 3%, reinforcing the e…
The Dow Jones index closed at 0.16%, at 45.636.90 points, S&P 500 closed at 0.32% points, 6.501.86 points, and Nasdaq won 0.53%, at 21.705.16 points.
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