Stock Futures Fall After MetaPlatforms, IBM Quarterly Results: Live Updates

An hour ago

European stock markets open lower

European shares opened slightly higher on Wednesday, with the benchmark Stoxx 600 down 0.2% at 8:15 a.m. London time.

England's FTSE 100 rose 0.5% after hitting a five-day winning streak on Thursday, while France's CAC 40 fell 0.2% and Germany's DAX fell 0.5%.

3 hours before

The Nikkei 225 fell 2%, leading decliners in Asian stocks

Japan's Nikkei 225 index fell 2.1% in afternoon trade, while the broader Topix index fell 1.64%.

The benchmark Nikkei 225 has fallen 8.3% since hitting an all-time high in late March.

Investors await the Bank of Japan's monetary policy decision on Friday. It will keep a close eye on the inflation outlook against the backdrop of a weaker yen, higher oil prices and stronger wage growth.

The yen crossed 155 against the US dollar on Thursday, touching a new 34-year low.

– Shreyashi Sanyal

8 hours ago

As SK Hynix posted its first operating profit in four quarters, the stock fell nearly 3%

Shares of South Korean chipmaker SK Hynix fell nearly 3% despite the company's announcement Maximum operating profit In almost two years.

The chipmaker posted an operating profit of 2.89 trillion South Korean won ($2.1 billion) in the first quarter of 2024, a 734% year-over-year increase, with a net profit of 1.92 trillion won.

Revenue for the fourth quarter was 12.43 trillion won, an all-time quarterly high.

SK Hynix attributed this to the increase in sales of AI server products, “backed by its leadership in AI memory technology.”

The company added that it “believes it has entered a phase of clear recovery following a prolonged decline.”

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– Lim Hui Jee

9 hours ago

South Korea's first-quarter GDP rises 3.4%, fastest quarterly growth since Q4 2021

South Korea recorded GDP growth The 3.4% in the first quarter beat the 2.4% expected by economists polled by Reuters and marked its fastest quarterly growth since the fourth quarter of 2021.

On a quarterly basis, gross domestic product rose 1.3%, beating Reuters expectations of 0.6%.

Exports from South Korea rose 0.9% in the first quarter, boosted by exports of information technology products such as cellular phones. Imports fell by 0.7% due to lower imports of electronic equipment.

– Lim Hui Jee

10 hours ago

iCapital's Anastasia Amoroso sees the S&P 500 ending this year at 5,500

iCapital Chief Investment Strategist Anastasia Amoroso believes there is a good chance the S&P 500 will rise to 5,500 by the end of the year.

The broader market index closed at 5,071.63 on Wednesday afternoon. This target represents an increase of 8% per benchmark.

“I think investors are getting another very attractive entry point,” he said on CNBC's “Closing Bell” Wednesday afternoon. Amoroso pointed to semiconductor stocks in particular as potential outperformers going forward.

As catalysts for the buoyant equity backdrop, the strategist cited strong corporate earnings and consumer spending, along with an increase in global manufacturing pace.

– Lisa Kailai Hahn

10 hours ago

Stocks making the biggest moves since the bell: Meta, IBM and more

Stocks that moved the most during extended trading hours were:

– Lisa Kailai Hahn

11 hours ago

Stock futures open lower

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