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Stock Market Today: Live Updates

2 hours ago

Nikkei briefly exceeds 38,000 mark for first time since 1990

Japan’s benchmark Nikkei 225 index crossed the 38,000 mark on Tuesday, marking the first time the index has been at these levels since 1990.

The index surpassed 38,000 points just minutes before its close, but slipped slightly to end the day at 37,963.97 with a gain of 2.89%.

The general Topix index also gained 2.12% to close at 2,612.03, also at its highest level in 34 years.

4 hours ago

India’s weighting in MSCI Global Standard index hits record high: Reuters

Index provider MSCI increased India’s weighting in its Global Standard index to 18.2% in its February review, a record high, according to Reuters.

The report adds that India’s weighting in the index has almost doubled since November 2020.

MSCI said it added five Indian stocks to the index during the February review. In total, MSCI will add 24 stocks to the index and remove 101.

Most notably, 66 Chinese stocks were removed from the index, and only five were added. The changes will come into effect on February 29, after the market closes.

-Lim Hui Jie

7 hours ago

SoftBank Rises Up to 10% as Arm’s Rally Continues, Leads Nikkei

Shares of Japanese investment holding company SoftBank jumped as much as 10.2% as Arm shares continued their rally for a second week.

The chip designer saw its shares soar 29% on Monday. It has gained 93% since releasing its quarterly financial results on February 8. SoftBank owns approximately 90% of Arm’s outstanding shares.

With the rise, SoftBank was the biggest gainer on the Nikkei on Tuesday, with the index also gaining nearly 2% and leading gains among Asian markets.

8 hours ago

Credit card spending slowdown in January is normal, Bank of America says

Credit card spending may have declined in January, but that’s normal behavior, according to Bank of America.

Spending in January fell 0.8% year-on-year and 10.6% from December.

“While there have been headlines about weakness in January, we note that our data suggests that spending has historically declined by 14.6% m/m in January. As such, we consider the data as better than expected,” wrote analyst Mihir Bhatia.

—Lisa Kailai Han

8 hours ago

The small-cap benchmark Russell 2000 appears for a third consecutive day

The Russell 2000 index has just closed its third consecutive winning session.

The small-cap benchmark closed 1.75% higher on Monday, its best day since January 22. This follows gains of 1.53% on Friday and 1.5% on Thursday. Over the past week, the Russell 2000 has jumped more than 5%.

Even with the recent string of positive days, the Russell 2000 continues to lag the three major averages for the year. It is up 0.9% in 2024, while the S&P 500 shows a gain of 5.3%. Technology continues to dominate, with the Nasdaq Composite up more than 6% this year. The Dow Jones Industrial Average rose just under 3% over the period.

Darla Mercado, Chris Hayes

8 hours ago

Stocks Make Biggest Moves After Hours

Check out some of the companies making headlines when it comes to extended trading.

JetBlue Airways — Shares of the airline jumped more than 15% after activist Carl Icahn announced a nearly 10% stake in the company. He said JetBlue’s stock was undervalued.

Avis Budget Group — Shares fell about 1% after the car rental company’s fourth-quarter revenue of $2.76 billion missed estimates. Analysts surveyed by LSEG, formerly known as Refinitiv, forecast $2.81 billion.

ZoomInfo Technologies – Shares of the business information company soared nearly 23%. ZoomInfo reported adjusted earnings of 26 cents per share on fourth-quarter revenue of $316 million. Analysts surveyed by LSEG expect earnings of 25 cents per share and revenue of $311 million.

Read the full list here.

—Brian Evans

9 hours ago

Stock futures open lower

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