"The Nasdaq Composite led the way, lifted by continued enthusiasm for artificial intelligence-driven companies, while smaller-cap indexes fell behind. Market gains were concentrated among a few major technology names, with seven of the S&P 500's eleven sectors actually finishing lower. Earnings season remained in full swing, with over one-third of S&P 500 companies having reported results. Roughly 83% of them exceeded analysts' expectations."
"On the policy front, the Federal Reserve cut interest rates by 0.25 percentage points to 3.75%-4.00%, as expected. Yet Chair Jerome Powell tempered expectations for further easing in December, emphasizing caution amid limited data due to the government shutdown. U.S. Treasury yields rose following Powell's hawkish tone, pushing bond prices lower, while corporate bonds lagged Treasuries as investors recalibrated expectations for the remainder of 2025."
"European markets softened after touching new highs earlier in the week. The pan-European STOXX Europe 600 Index slipped 0.67%, reflecting fading hopes for further rate cuts from the European Central Bank (ECB). France's CAC 40 and Germany's DAX retreated 1.27% and 1.16% respectively, while Italy's FTSE MIB rose 1.62%. In the UK, the FTSE 100 gained 0.74%, supported by a weaker British pound that benefited exporters and multinationals."
U.S. markets finished mixed, led by the Nasdaq as large-cap, AI-driven technology stocks outperformed while smaller-cap indexes lagged. Market gains concentrated among a few major tech names, with seven of the S&P 500's eleven sectors closing lower. More than one-third of S&P 500 companies reported earnings, and roughly 83% beat analysts' expectations, though investor reactions varied across megacaps. NVIDIA briefly surpassed a USD 5 trillion market capitalization. The Federal Reserve cut rates by 25 basis points to 3.75%-4.00% but signaled caution about further easing, sending Treasury yields higher and pressuring bond and corporate debt markets. European markets softened amid ECB rate patience and mixed country performances.
Read at London Business News | Londonlovesbusiness.com
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