People walk in front of a bank electronic board showing the Hong Kong share index on Friday. Associated Press
Robust earnings from Google-owner Alphabet and Twitter took the S&P 500 and Nasdaq indexes close to record levels on Friday, with data showing the domestic economy slowed lesser than expected in the second quarter providing support.
Stocks are drifting in subdued trading on Tuesday morning, a rare calm day in what is likely to be Wall Street’s worst quarter of performance since the 2008 financial crisis.
Japan’s government slashed its economic growth forecast for this year largely due to weaker exports, in a sign the protracted US-China trade war is taking a bigger toll on the world’s third-largest economy.
Tokyo and Shanghai stocks closed higher on Friday but trade lacked direction with several major markets closed for Easter holidays. In Japan, the benchmark Nikkei 225 index added 0.50 per cent, or 110.44 points, to 22,200.56, while the broader Topix index climbed 0.12 per cent, or 1.96 points, to 1,616.93.
The Labor Department's closely watched monthly employment report on Friday could bolster economists' dire predictions that it would take several years to recover from the economic meltdown. Consumer confidence, manufacturing and services industries are also stabilizing, though at low levels, hopeful signs that the worst was over.
The final day of Arabian Travel Market’s virtual event, ATM Virtual, saw a panel of tourism experts discuss the opportunities in the region to kick-start sustainable investment in the hospitality sector.
The euro rallied to a three-month high and Italy’s borrowing costs tumbled on Thursday, after the European Central Bank ramped up stimulus to shore up an economy ravaged by the coronavirus pandemic.