Tech gains lift US stocks despite early weakness Posted on 24/12/2024 Stocks faced pressure early due to concerns over rising US Treasury bond yields, which hindered year-end gains during a typically strong period. (AFP pic) NEW YORK: Wall Street stocks shook off early weakness and pushed higher Monday, propelled by gains in Nvidia and some other large tech equities. Stocks had been under pressure early amid concerns over higher US Treasury bond yields that impede year-end gains in a historically strong period of the calendar. “Stocks didn’t really have any direction in the morning, then we got this tech rally that just sort of drifted higher all day,” said Steve Sosnick of Interactive Brokers. The Dow Jones Industrial Average finished up 0.2% at 42,906.95. The broad-based S&P 500 gained 0.7% to 5,974.07, while the tech-rich Nasdaq Composite Index jumped 1.0% to 19,764.89. Stocks dropped last week after the Federal Reserve signalled it expects fewer interest rate cuts in 2025. But Monday’s market rose progressively in a quiet session with analysts pointing to low pre-holiday trading volumes. Among economic releases, US consumer confidence fell unexpectedly in December amid concerns over the potential economic drag of new tariffs threatened by president-elect Donald Trump. The US consumer confidence index slipped to 104.7 in December, down from a revised 112.8 last month, The Conference Board announced. Qualcomm climbed 3.5% after a jury sided with it in a legal dispute with Arm over alleged breach of license agreements connected to Qualcomm’s acquisition of Nuvia. Arm Holdings fell 4.0%. Nordstrom fell 1.6% after Mexican investment group El Puerto de Liverpool and members of the Nordstrom family reached a deal that involves taking the department store chain private. The transaction is valued at US$6.25 billion, Nordstrom said. Markets will have a half session on Tuesday, Christmas Eve, followed by Wednesday’s holiday. News
No decision on voting mechanism for PKR polls, says Fahmi Posted on 15/11/2024 PKR information chief Fahmi Fadzil said the party will continue to prioritise the people’s interests in every decision it makes. (Bernama pic) PUTRAJAYA: PKR has not decided whether it will change its voting mechanism from the “one member, one vote” system to one involving delegates, said the party’s information chief… Read More
Home Ministry to hold talks with Sabah AG today to iron out citizenship concerns in state CAP 123 Ordinance Posted on 12/12/2024 KUALA LUMPUR, Dec 12 — The Ministry of Home Affairs (KDN) and the National Registration Department (JPN) will hold further discussions on the proposed amendments to the Sabah Births and Deaths Registration Ordinance (CAP.123) with the Sabah State Attorney-General today. Deputy Home Minister Datuk Seri Dr Shamsul Anuar Nasarah said… Read More
Wisma Putra: No Malaysians affected by unrest in Mozambique Posted on 26/12/2024 PUTRAJAYA, Dec 26 — No Malaysians in Mozambique have been affected by the ongoing unrest, which has predominantly impacted urban areas, including the capital Maputo, said Malaysia’s Foreign Ministry, Wisma Putra. Wisma Putra in a statement Thursday said that the High Commission of Malaysia in Pretoria, South Africa maintains regular… Read More