Wall Street had been hovering around records but closed virtually unchanged from Tuesday. Meanwhile, Chinese stocks fell after a briefing on the housing stimulus package was poorly received, and Japanese stocks were hurt by weak export statistics. However, Taiwanese semiconductor giant TSMC is still soaring, and Nvidia and others are also continuing to rise significantly.
S&P 500 futures: 5,887.25 ⬆️ up 0.0042% S&P 500: 5,841.47 ⬇️ down 0.017% Nasdaq Composite: 18,373.61 ⬆️ up 0.036% Dow Jones Industrial Average: 43,239.05 ⬆️ up 0.37%TO XX Europe 600: 523.91 ⬆️ 0.83% increase CSI 300: 3,788.22 ⬇️ Down 1.13% Nikkei 225: 38,911.19 ⬇️ Down 0.69% Bitcoin: $67,261.98 ⬇️ Down 0.53%
United States: Stock prices stabilize near record highs led by semiconductor manufacturers
The S&P 500 hit a new all-time high, but closed almost flat on Thursday, down 0.017%. Nvidia led the index, rising 0.9% on strong performance from Taiwan Semiconductor Manufacturing Co. (TSMC). TSMC’s U.S.-listed shares rose 9.8% after better-than-expected earnings. Still, Alphabet’s 1.3% decline and Elevance Health’s 10.6% decline kept the overall market in check. The Dow closed up 0.37% and the Nasdaq rose 0.036%.
Europe: Stock prices rise on expectations for ECB rate cut
The STOXX Europe 600 rose 0.83% on Thursday, supported by expectations for a rate cut from the European Central Bank. French and German indexes rose significantly, with the CAC40 index up 1.2% and Germany’s DAX up 0.8%, reversing previous declines in Asian markets.
China: Stock prices fall after disappointing housing stimulus announcement
Chinese stocks initially rose on Thursday, but then fell after the country’s housing minister gave a lackluster explanation of new measures to support the struggling real estate sector. The announcement focused on accelerating bank lending for unfinished housing projects, but fell short of the hopes of traders hoping for a bigger stimulus package. As a result, China’s CSI 300 real estate index plunged 7.85%, pushing down the broader CSI 300 index, which fell 1.13%. Hong Kong’s Hang Seng Index also fell, dropping 1.02%. Investors are currently awaiting China’s GDP data for the April-September period, which is expected to be released on Friday.
Japan: Decrease in exports weighs on stock prices
Japan’s Nikkei stock average fell 0.69% on Thursday, the first decline in 10 months, after the government announced that September exports would fall 1.7% from a year earlier. Weak export data due to lower demand from China and the US weighed on market sentiment. But strong earnings from Morgan Stanley boosted the sector, providing a rare bright spot for financial stocks. Additionally, SoftBank, which owns a majority stake in semiconductor giant Arm Holdings, rose 1.19%, overcoming a broader tech downturn.
