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HomeFinance NewsUp-to-the-Minute Live Updates on Today's Stock Market - Limited to 13 words

Up-to-the-Minute Live Updates on Today’s Stock Market – Limited to 13 words


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The Hang Seng index in Hong Kong led gains in Asian markets, jumping 2.45% fueled by consumer cyclicals and real estate stocks. The top gainer on the index was tech firm Alibaba Health, which surged 7.94%. Other notable gainers included sports equipment retailer Li Ning and property services manager China Resources Mixc Lifestyle. Meanwhile, inflation in Tokyo grew at the slowest rate in a year, with September’s inflation rate at 2.8%, lower than the 2.9% in August. The core inflation rate, which excludes prices of fresh food, stood at 2.5%, lower than economists’ expectations. Additionally, Japan’s retail sales rose 7% year on year and its unemployment rate remained unchanged at 2.7% in August.

Stocks are facing a losing streak, with all three indexes on track to record their second consecutive negative monthly performance, something that hasn’t happened since September 2022. The tech-heavy Nasdaq has dropped 5.9% this month, the worst monthly performance since December 2022. The S&P 500 is down 4.6%, also on pace for its worst monthly performance since December 2022, and the Dow is down about 3%, heading for its worst monthly performance since May. In light of these trends, Grantham Mayo Van Otterloo warns investors to beware of the economic and stock outlook. The firm believes that higher real interest rates will be necessary in the future to control inflation, which puts pressure on expensive and leveraged assets. Investors are advised to prepare for a recession by owning risk where they are well-compensated for it.

After-hours trading saw several companies making moves. Vail Resorts shares slid 1.8% following a disappointing quarterly report, while Nike shares rose 1.8% after posting an earnings beat in the first quarter. Blackberry’s shares also added 1.5% after the company reported a loss of 4 cents per share, better than analysts’ expectations. Overall, stock futures opened higher, providing some hope for a rebound.

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