United News of Bangladesh

US stocks are hovering near record levels on Thursday amid a relatively uneventful day on Wall Street, reports AP. The S&P 500 rose 0.2% in midday trading, poised to surpass its all-time high set last month after nearing it the previous day. As of 11:30 a.m. Eastern time, the Dow Jones Industrial Average was up 236 points, or 0.2%, while the Nasdaq composite slipped by 0.2%. Japan's exports hit record high, but trade deficit continues Global markets showed similarly subdued activity, despite China’s latest efforts to boost stock prices in the world’s second-largest economy. For instance, Hong Kong stocks briefly gained after China directed pensions and mutual funds to increase investments in domestic equities. However, the Hang Seng index ended down 0.4%. This relative calm extended to the U.S. bond market, where Treasury yields were mixed. Recent sharp movements in bond yields have impacted stocks, particularly when inflation concerns and high U.S. debt levels drove yields higher. However, bond investors took the latest economic data in stride. Asian shares show mixed performance following Trump inauguration The data revealed that slightly more Americans applied for unemployment benefits last week than economists anticipated, but the figures remained within the modest range observed in recent months, according to Chris Larkin, managing director of trading and investing at E-Trade from Morgan Stanley. “Employment continues to underscore U.S. economic outperformance,” he added. Traders largely believe the report won’t compel the Federal Reserve to adjust its main interest rate during next week’s meeting, based on CME Group data. If this holds true, it will mark the first time the Fed has refrained from lowering rates since September, when it began easing them to support the economy. While lower rates can boost investment prices, they may also fuel inflation. Treasury yields briefly rose after President Donald Trump discussed potential tariffs at the World Economic Forum, but quickly retreated as details were sparse. A major global concern has been the potential disruption to trade if Trump imposes significant tariffs. China's economy grows 5% in 2024 The yield on the 10-year Treasury increased to 4.63% from 4.61% late Wednesday, remaining below its earlier monthly peak. Meanwhile, the two-year Treasury yield, which reflects expectations for Fed actions, dipped to 4.28% from 4.30%. On Wall Street, GE Aerospace surged 6.8% following a stronger-than-expected quarterly profit report. Orders for its airplane engines and services rose by 50% year-over-year to $12.9 billion. Netflix was another major contributor to the S&P 500’s gains, climbing 2.4% after a 9.7% jump the day before due to an upbeat earnings report. Conversely, American Airlines fell 7.9% despite surpassing profit and revenue expectations for the latest quarter. The airline warned it might post a larger-than-expected loss in early 2025 and provided a full-year profit forecast with a midpoint below analysts’ predictions. Video game maker Electronic Arts plunged 18.2% after forecasting slower revenue growth for its soccer game, EA Sports FC25. It also reported lower-than-expected engagement for its Dragon Age game, further impacting revenue. In international markets, Japan’s Nikkei 225 rose 0.8%, despite a sharp decline for Fuji Media Holdings. This followed the announcement that Masahiro Nakai, a prominent TV host and former pop star, would retire over sexual assault allegations, which have shaken Japan’s entertainment industry. The controversy caused a wave of lost advertising at one of the networks he worked for. In the cryptocurrency market, bitcoin traded just below $105,000, according to CoinDesk, after setting a record above $109,000 on Monday. Prices have surged on speculation that President Donald Trump will adopt a more favourable stance toward the industry.

Stocks were mixed in morning trading on Wall Street Thursday as investors continued to review the latest updates on the economy and corporate earnings. The S&P 500 fell 0.1% as of 10:16 a.m. Eastern. The Dow Jones Industrial Average fell 52 points, or 0.2%, to 32,760 and the Nasdaq rose 0.1%. Oil prices edged lower and weighed on energy stocks. Exxon Mobil fell 1.8%. A mix of retailers and industrial companies made solid gains. Best Buy rose 1.9% and Deere rose 1.6%. The yield on the 10-year Treasury fell to 2.69% from 2.74% late Wednesday. Read: Asian stocks higher as US-China tensions rise Stocks have meandered week, leaving major indexes mostly higher. August’s gain follows a standout July that was the S&P 500′s best month since late 2020. But markets remain volatile as investors try to determine the economy’s path ahead amid the highest inflation in four decades and efforts from central banks to fight higher prices. Earnings remain in focus on Wall Street as investors look for more clues on how inflation is impacting various industries. Twinkie maker Hostess fell 5% after giving investors a disappointing profit forecast for the year. Bleach and consumer products maker Clorox fell 4.2% after also announcing a weak earnings forecast.

U.S. stocks are rallying to records Wednesday on encouraging earnings reports and continued optimism that new leadership in Washington will mean more support for the struggling economy.

Major U.S. stock indexes ended nearly flat Tuesday after an abbreviated trading session ahead of Christmas Day.