Stock Market Today: Live Updates | Wilnesh News

SINGAPORE – Most Asia-Pacific markets fell on Thursday after a briefing from China’s Ministry of Housing and Urban-Rural Development failed to impress investors, sending Chinese property stocks tumbling.

The CSI 300 real estate index, which rose more than 5% on Wednesday, fell nearly 8%, while the benchmark CSI 300 index fell 1.13% to 3,788.22 points.

As of the last hour of trading, Hong Kong’s Hang Seng Index fell 1.3% to 20,030 points.

Japan’s import and export growth in September was lower than expected. Japan’s Nikkei 225 Index fell 0.69% to close at 38,911.19 points, and the Composite Index fell 0.11% to close at 2,687.83 points.

South Korea’s Kospi closed slightly lower at 2,609.30 points, while the small-cap Kosdaq fell 0.1% to 765.79 points.

Australia’s S&P/ASX 200 index rose 0.86% to close at 8,355.9 points.

— Dylan Butts

European stocks edged higher shortly after the opening bell on Thursday.

Pan-European Stoke 600 Trading volume rose nearly 0.2%, with most sectors showing positive numbers.

— Sam Meredith

this Russell 2000 The stock outperformed the broader market on Wednesday, posting its highest closing level in nearly three years.

The small-cap benchmark rose 1.64%, posting its fourth straight session of gains and notching its highest close since November 2021.

As the Fed lowers interest rates, these smaller companies are expected to perform strongly. These companies are sensitive to economic cycles and often rely on financing, and lower interest rates will reduce their borrowing costs.

“(Russell 2000) has rebounded from the lower end of its rising price channel as the near-term economic growth outlook improves (supported by better-than-expected labor market conditions) and the visibility of a rate cut by the Federal Reserve increases,” said LPL Financial Chief Technology Officer .” Strategist Adam Turnquist pointed out in the report.

Gains in bank stocks also boosted the small-cap benchmark because it is the largest sector in the Russell 2000 by weight, he said.

–Darla Mercado, Chris Hayes

If back-to-school spending sets the tone for the holiday shopping season, there’s good reason to be cautious, Barclays said. The company’s latest survey of U.S. consumers shows a wide gap between households earning $100,000 or less and wealthy groups, and deep discounts. While the company said spending remains healthy, demand has been fluctuating.

The company said low-income consumers remain under pressure as wages fail to keep pace with inflation. At the same time, higher-income households may feel the “wealth effect” from increased investment portfolios and inflation in home values.

“Retailers with clean inventories and able to maintain store traffic should do well, but we expect negative impact from those who are running low on inventory,” Hale Holden wrote in a research note. In many ways, it feels like we’re back to the basic trends of 2018 or 2019.”

Barclays retail analyst Adrienne Yih selects Foot cabinet, VF Corporation and victoria secret These three stocks will benefit later in the cycle over the next two to four quarters as margins recover. All three stocks have significantly underperformed the market, with Foot Locker’s shares down 20% year to date.

Victoria’s Secret shares rose 6.6% on Wednesday following the return of its iconic fashion show.

——Christina Cheddar Burke

Take a look at the companies making headlines over the long haul:

Discover Financial — Shares edged down 1%. The financial services company reported third-quarter results that beat expectations, with earnings of $3.69 per share on revenue of $4.45 billion. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of $3.42 per share on revenue of $4.35 billion.

CSX – The rail transportation company’s third-quarter results fell short of Wall Street expectations, sending shares down 4%. CSX reported earnings of 46 cents per share on revenue of $3.62 billion, while analysts polled by LSEG expected earnings of 48 cents per share on revenue of $3.67 billion. Overall sales volume increased by 3% compared with the same period last year, but unit revenue fell by approximately 1%.

Lucid Group — Shares drop 10% after electric car maker announces acquisition public sale More than 262 million shares. Lucid also said that Ayal Third Investment Company, an affiliate of the Public Investment Fund, said it would buy more than 374 million shares.

The full list can be found here.

— Kim Ha Kyung

U.S. stock futures opened little changed on Wednesday.

Dow Jones Industrial Average futures were slightly lower. S&P 500 futures and Nasdaq 100 futures edged down 0.05% and 0.08% respectively.

— Kim Ha Kyung