56 minutes ago
European stocks are volatile
European stock markets were volatile in early trading, with the Stoxx 600 index moving between losses and gains.
The UK’s FTSE 100 was flat at 9:30 a.m. in London, while Germany’s DAX was down 0.2% and France’s CAC 40 was down 0.96%.
See chart…
Stoxx 600 index.
2 hours ago
Consumer spending in China has not yet returned to pre-pandemic levels
Analysts said that consumer spending in China is not growing as quickly as it was before the epidemic.
Holiday retail sales from September 29th to October 5th increased by 9% A year ago, according to state media reports of Commerce Ministry data. The numbers excluded the last day of the Golden Week holiday.
Analysts cited factors including the impact of the real estate decline – as much of household wealth is in real estate – and a decline in government spending due to domestic debt problems as reasons contributing to the slowdown in consumer spending.
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– Evelyn Cheng, Shreyashi Sanyal
9 hours ago
Business sentiment fell in Japan with the Reuters Tankan poll remaining unchanged in October
Confidence fell among major Japanese manufacturers in October, according to the Reuters Tankan Survey, which measures business sentiment among major Japanese companies.
The Reuters poll, which tracks the Bank of Japan’s closely watched quarterly Tankan survey, saw manufacturers’ mood holding steady at +4 index points in October, although it is expected to rise slightly over the next three months.
Services sector sentiment rose, as upbeat domestic demand helped partially offset the hit to the economy from global headwinds.
The services sector index rose to +24 in October, a slight improvement from +23 from the previous month.
– Shreyashi Sanyal
7 hours ago
Seoul shares jump with Samsung leading gains
South Korean stocks jumped about 2%, hitting the highest level in two weeks, supported by chip giant Samsung Electronics.
Samsung expects a Operating profits decreased by 78% In the quarter ending September, according to guidance issued by the company. Operating profit expectations were slightly higher than analysts’ expectations. The company’s shares jumped by 3.77%.
The shares of its counterpart, SK Hynix, rose by about 3%.
– Shreyashi Sanyal
10 hours ago
Birkenstock is expected to price the IPO at $46 per share
German footwear company Birkenstock is expected to price its initial public offering at $46 per share on Tuesday, CNBC reported, citing a person familiar with the matter.
Pricing would put Birkenstock near the middle of its price range of $44 to $49 per share, and give it a pro forma valuation of about $8.64 billion.
The company plans to trade on the New York Stock Exchange under the symbol “BIRK.”
– Leslie Baker, Gabrielle Vonrug
11 hours ago
Small caps posted a fifth straight advance on Tuesday, outperforming the S&P 500.
Small-cap companies posted a fifth straight advance on Tuesday, with the Russell 2000 rising 1.14%, more than double the 0.52% gain in the Standard & Poor’s 500.
The Russell 2000 is up 2.8% since October 3, while the S&P 500 is up 3.0%.
The small-cap index is 11.5% below its 52-week high reached on February 2, while the S&P 500 is 5.4% below its 52-week high dated July 27. Over the first two trading days of this week, small caps rose 1.7%. Compared to a gain for the Standard & Poor’s 500 index of 1.2%.
-Scott Schnepper
11 hours ago
Stock futures are open little changed
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