Wall Street continued gaining Wednesday, with two major U.S. Indexes closing at new record highs. Soaring stocks in the U.S. Come in stark contrast to China, where markets plunged on a lack of new stimulus announcements.
Here’s a look at the stock market today:
- S&P 500 Futures: 5,834.00 ⬆️ up 0.58%
- S&P 500: 5,792.04 ⬆️ up 0.71%
- Nasdaq Composite: 18,291.62 ⬆️ up 0.60%
- DowJones Industrial Average: 42,512.00 ⬆️ up 1.03%
- FTSE 100: 8,243.74 ⬆️ up 0.65%
- Stoxx Europe 600: 520.05 ⬆️ up 0.66%
- SSE Composite: 3,258.86 ⬇️ down 6.62%
- Nikkei 225: 39,277.96 ⬆️ up 0.87%
- Bitcoin: $63,126.50 ⬆️ up 0.48%
US: Wall Street surges on good news for cruise lines
The Dow Jones Industrial Average and S&P 500 both set fresh records on Wednesday, as oil prices dropped and cruise lines saw stocks surge. Norwegian Cruise Line Holdings led the pack, closing up 10.91%. The Dow climbed 1.03% while the S&P 500 was up 0.71%. The Nasdaq also gained, climbing 0.60%, but the announcement that the DOJ might push to split up Google weighed on owner Alphabet and the tech-heavy Nasdaq.
Europe: Markets close up across the board despite Germany’s shrinking economy
The German government said Wednesday that it expects its economy to shrink for a second year, but the DAX Performance Index still closed up 0.99% as gains in tech, retail and industrials boosted shares. Markets rose slightly early in the day, but really gained once trading opened in the U.S. Where investors are eyeing the release of minutes from the latest Federal Reserve Board meeting. The STOXX Europe 600 closed up 0.66%.
China: Stimulus sadness slumps stocks
A day after Hong Kong’s Hang Seng Index experienced its sharpest one-day drop since 2008, mainland Chinese stocks also saw a significant decline. The Shanghai SSE Composite fell by 6.62%, while Hong Kong shed another 1.38% as investors remained unconvinced by Beijing’s Tuesday briefing on its stimulus plans, which lacked substantial details and new major measures. China’s finance minister is set to provide another update on Saturday, with investors hoping for more robust actions to stimulate the economy.
Japan: Nikkei rises as 7-Eleven owner shares rise on higher bid
In Japan, the Nikkei 225 climbed 0.87%, driven by a surge in Seven & i Holdings shares. The retailer’s stock jumped as much as 11.7% before closing up 4.71%, following news that Canadian convenience store operator Alimentation Couche-Tard had raised its takeover bid by about 20%, according to Bloomberg. Tech stocks also gained as Prime Minister Shigeru Ishiba dissolved parliament ahead of the snap elections on October 27, aiming to strengthen his position.
Finally, earnings season is here:
Wells Fargo and BlackRock will share their earnings on Friday.