Today’s Market News |
Key developments on Friday: |
|
| Index | Last | Change | % Change |
|---|---|---|---|
|
trading lower
|
41,763.46 | -378.08 | 0.90%Negative |
|
trading lower
Nasdaq Composite Index
.IXIC |
18,095.15 | -512.78 | 2.76%Negative |
|
trading lower
S&P 500 Index
.SPX |
5,705.45 | -108.22 | 1.86%Negative |
| Index | Last | Change | % Change |
|---|---|---|---|
|
unchanged
Nikkei Index
.N225 |
39,081.25 | — | — |
|
trading lower
Hang Seng Index
.HSI |
20,317.33 | -63.31 | 0.31%Negative |
|
trading lower
S&P BSE SENSEX Index
.BSESN |
79,389.06 | -553.12 | 0.69%Negative |
Market sentiment in Asia will be fragile at best on Friday as high and rising bond yields sink their teeth into risky assets, and worries about escalating AI costs appear to slam the brakes on the megacap, Big Tech rally.
Shares of Facebook-owner Meta Platforms (META.O), opens new tab slipped 4.1% and Microsoft (MSFT.O), opens new tab fell 6%, despite both companies beating earnings estimates in results reported after the bell on Wednesday.
For markets in Asia, U.S. bonds are what matter most. And only days away from the U.S. presidential election the signs are flashing amber, if not red – implied volatility and the ‘term premium’ are the highest in a year, and the 10-year yield has risen more after the first cut in this Fed easing cycle than any since 1989.
For more news visit Reuters.com
