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Stocks Drop Ahead of Central Bank Decisions and Tech Earnings
2024-07-30 05:50:08
Asia
Stocks
Economy

Stocks Drop Ahead of Central Bank Decisions and Tech Earnings

Asian stocks fell as investors await central bank decisions, tech earnings, and China manufacturing data. The MSCI Asia index was down 0.5%, with Hong Kong leading the decline.

The yen strengthened and the dollar rose ahead of the Bank of Japan and Federal Reserve meetings. China bonds rallied, putting the central bank to the test.

Investors are also awaiting the Politburo meeting for stimulus measures. Sentiment remains bearish after failed growth efforts.

In company news, BHP and Lundin purchased Filo for copper, while Tesla saw a jump in stock price and McDonald's shrugged off a drop in sales. US policymakers are expected to keep interest rates high, signaling a possible September move that could risk the job market.

Overall, the stock market faces a make-or-break week with crucial events and earnings announcements.

Related news on that topic:

Markets Kick Off Huge Week: S&P 500 and Nasdaq Gain

Stocks opened the week positively, propelled by the Fed's decision, jobs report, and Big Tech earnings. The S&P 500 and Nasdaq climbed, while the Dow remained stable. Market watchers anticipate surprises amidst a flurry of events, including the jobs report, McDonald's disappointing performance, the U.S. economy's 'sweet spot', results from the 'Magnificent Seven', and the focus on over 150 S&P 500 companies reporting earnings. Additionally, Asian markets saw gains amid speculation surrounding central bank actions and economic data releases from China and Australia. With a significant number of companies set to unveil earnings this week, investors are carefully navigating through the Fed's policy decisions and awaiting financial results from tech giants.

Asian Stocks Rise Ahead of Central Bank Meetings

Asian markets saw gains as 3M's strong earnings boosted Wall Street. U.S. inflation rose by 2.5%, pushing oil prices up. The Japanese yen weakened against the U.S. dollar in anticipation of a potential rate hike by the Bank of Japan. Investors are closely watching global central banks amid expectations of rate cuts and economic data releases from China and Australia. Hong Kong stocks surged on positive China industrial profits, with eyes on the Politburo meeting. The U.S. dollar strengthened against the Vietnamese dong and the yen amid Middle-East tensions. Market focus remains on upcoming central bank decisions by the Bank of Japan, Federal Reserve, and Bank of England, alongside earnings reports from tech giants.

Read 25 more recent news on this topic

The press radar on this topic:

Yahoo Finance
30. Juli 2024 um 22:00

Stocks Drop in Risk-Off Move Before Fed, Earnings: Markets Wrap

Finance
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Asian stocks fell ahead of central bank decisions, data, tech earnings. MSCI Asia down 0.5%, led by Hong Kong. Yen strong, dollar up before BOJ, Fed. China bonds rally, testing central bank. Investors await Politburo meeting for stimulus. Sentiment bearish after failed growth efforts. BHP, Lundin buy Filo for copper. Tesla jumped, McDonald's sales drop shrugged off. US policymakers expected to keep rates high, signaling September move as risks grow of imperiling job market.
The Street
30. Juli 2024 um 19:45

Stock Market Today: Stocks gain amid 'make-or-break' week for markets TheStreet Daily Newsletter

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U.S. stocks gain ahead of crucial week with earnings from tech giants, central bank rate decisions, and July jobs report. Concerns over economy, elections, Fed policy, and earnings growth weigh on markets, with S&P 500 down 0.03% for the month. Investors await results from Microsoft, Apple, Meta, and Amazon to stabilize sentiment. Central bank meetings in focus, with Fed expected to hold rates steady but signal September cut. Oil prices little changed amid tensions in Gulf region. Asian markets..
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30. Juli 2024 um 02:40

Hong Kong stocks slide ahead of key China manufacturing data | South China Morning Post

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Hong Kong stocks fell ahead of China manufacturing data expected to show further contraction. Hang Lung Properties, Standard Chartered, Mengniu Diary, and Haidilao declined. Wuxi Apptec reported a 20% profit drop, but its shares jumped 4.7%, while Wuxi Biologics gained 1.7%. Citigroup analysts maintained a HK$90 target for Wuxi Apptec, citing 2.7-8.6% revenue growth and stable net profit margins. The Hang Seng Index lost 1.2%, with the Tech Index tumbling 1.4%. Meituan, BYD, Li Ning, and Anta..
Yahoo Finance
29. Juli 2024 um 20:01

Stock market news today: S&P 500, Nasdaq inch higher to kick off huge week for markets

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Stocks traded flat to start a big week, with investors focused on a Federal Reserve decision, jobs report, and major tech earnings. The Dow Jones surged on Friday, while signs point to the US economy and inflation reaching a sweet spot.
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