Latest Business News
Wall Street Hits Record Highs in Holiday-Thinned Trading
The S&P 500 rose 0.3% to 6,932.05, Dow added 0.6% to 48,731.16, and Nasdaq gained 0.2% to 23,613.31 on light volume ahead of Christmas closure. Tech stocks led gains, buoyed by AI optimism and Trump deregulatory policies, with Nvidia and Micron as top performers.
Trading volume was about a third of average as markets closed early.
Global Markets Mixed on Year-End Caution
World shares were mixed with Asia's Nikkei down 0.1%, Kospi off 0.2%, Hang Seng up 0.2%, and Shanghai up 0.5%; Europe saw FTSE down 0.2%, CAC up 0.1%. Investors weighed Santa Claus rally against slowdown signs, with many exchanges closing early for Christmas Eve.
Australia's S&P/ASX 200 slipped 0.4%, India's Sensex fell 0.1%.
Gold Surges Past $4,500 on Geopolitical Tensions
Gold rose 0.3% to $4,525.20 per ounce, up 70% for the year, while silver climbed 1.6%, driven by safe-haven demand amid US-Venezuela and other risks. Prices hit fresh records after earlier highs this week.
Heightened tensions boosted commodities rally.
US Economy Grows at Fastest Pace in Two Years
Q3 GDP expanded at 4.3% annual rate, beating expectations, following 3.8% in Q2; White House credits Trump trade policies and AI investment. Consumer confidence fell to 89.1 in December from 92.9.
Job gains expected to accelerate.
Sanofi to Acquire Dynavax Technologies for $2.2 Billion
Dynavax shares surged 38% after Sanofi announced the deal to add hepatitis B and shingles vaccines to its portfolio. Sanofi shares unchanged in premarket.
Deal highlights biotech M&A in holiday trading.
Novo Nordisk Gets US Approval for Wegovy Pill
Novo Nordisk shares rose 1.8% on FDA approval for oral Wegovy, amid competition from Eli Lilly. Shares down 40% YTD despite blockbuster drug success.
CEO discussed US sales expansion.
Oil Prices Edge Higher on Supply Disruption Fears
US crude added 12 cents to $58.50/barrel, Brent up 8 cents to $61.95, as traders eye Venezuela and Russia risks. Prices monitored amid geopolitical tensions.
Steady amid holiday caution.
US Holds Off on New Chinese Chip Tariffs
US delays new tariffs on Chinese chips until mid-2027 despite unfair trade accusations. Move amid ongoing trade tensions.
Impacts semiconductor sector outlook.
Japan-US Agree to Expedite $550 Billion Investments
Japan and US to speed up $550bn investment projects under trade deal to lower Trump tariffs. First project announcement preparations aligned.
Boosts bilateral economic ties.
Nomura Holdings Celebrates 100th Anniversary
Nomura marks centennial by establishing Nomura Well-Growing Institute for financial education, social impact, and sustainable investments. Aligns with group purpose for AI-era value creation.
Focuses on learning, connections, and essentials like food, shelter.
Yen Weakness Sparks Intervention Concerns in Japan
Dollar weakened to 156.04 yen amid talk of Japanese intervention; yen rally in Korea noted. Becomes growing concern for Japan.
Euro eased to $1.1787.
Israel Imposes Special Tax on Banks After Profit Surge
Finance Ministry announced special bank tax following profit increases. Amid economic measures post-earthquake impacts deemed temporary by World Bank.
Targets fiscal adjustments.