Wall Street Largely Down As China Stocks Gain

"); jQuery("#212 h3").html("

Related News Programmes

"); });

2022-11-30 HKT 05:43

Share this story


  • Wall Street investors are keeping an eye out for remarks on the Fed's future policy direction. File image: Shutterstock

    Wall Street investors are keeping an eye out for remarks on the Fed's future policy direction. File image: Shutterstock

Powell is due to speak at a Brookings Institution event on Wednesday about the outlook for the US economy and the labour market. Investors will be looking for clues about when the Fed will slow the pace of its aggressive interest rate hikes.

"No one is willing to buy ahead of tomorrow with Powell speaking. Everyone is nervous about what he is going to say," said Ron Saba, senior portfolio manager at Horizon Investments in Charlotte.

US-listed shares of Chinese companies Alibaba Group, Pinduoduo and JD.com jumped more than 5 percent after Beijing broadened equity financing channels for property developers.

Shares of Chinese internet firm Bilibili soared 22 percent after posting upbeat quarterly results.

Apple's stock dropped 2.1 percent, down for a fourth straight session. Shares of Amazon, Nvidia and Tesla each lost more than 1 percent.

The benchmark S&P 500 index is headed for its second straight month of gains in November amid bets that recent inflation readings showing a slight cooling in prices will lead the Fed to scale back the scale of its interest rate hikes.

The Fed has delivered four straight 75 basis point rate hikes, and it is expected to shift down the pace to a 50-bps move in December.

A survey on Tuesday showed US consumer confidence eased further in November amid persistent worries about the rising cost of living.

The S&P 500 declined 0.16 percent to end the session at 3,958 points.

The Nasdaq declined 0.59 percent to 10,984 points, while Dow Jones Industrial Average rose 0.01 percent to 33,852 points. (Reuters)


US Stocks Rise On Hopes Of Pause In Rate Increases

Wall Street stocks finished solidly higher on Thursday, reflecting better sentiment on the US economy and a consensus vi... Read more

China's Financial Risks 'controllable': Regulators

The head of the National Financial Regulatory Administration on Thursday told a high-profile forum in Shanghai that the ... Read more

Banks Cut Yuan Deposit Rates, Could Boost Consumption

China's biggest banks on Thursday said they have lowered interest rates on yuan deposits, in actions that could ease pre... Read more

Cheese And Wine Put EU, Australia Deal In Peril

Australia on Thursday threatened to walk away from a blockbuster free trade deal with the European Union unless its prod... Read more

US Stocks End Mixed As Tech Shares Are Sold Off

Gains by industrial companies lifted the Dow on Wednesday, while weakness among technology shares pushed the Nasdaq deci... Read more

Amazon 'plans Prime Video Streaming Service With Ads'

Amazon.com is planning to launch an advertising-supported tier of its Prime Video streaming service, the Wall Street Jou... Read more