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An Hour Ago

European stocks extended the previous session's sharp losses early Thursday, with the Stoxx 600 index 0.13% lower.

Sectors were mixed, with technology 1.65% higher but few other gains. Media and retail stocks led losses, both down around 1.2%.

Germany's DAX fell 0.4% after statistics showed the country entered a technical recession in the first quarter. The U.K.'s FTSE 100 and France's CAC 40 lost 0.5% and 0.6%, respectively.

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Stoxx 600 index.

6 Hours Ago

Reserve Bank of New Zealand's governor Adrian Orr said the current interest rate of 5.5% will be "sufficiently restrictive" to bring down the country's inflation to its target of 1-3%.

The central bank on Wednesday raised its benchmark interest rate by 25 basis points to 5.5% while indicating that rates will be on hold at the current rate.

Reuters added that the central bank signaled that the RBNZ's rate hikes are done with its hiking cycle.

Orr told CNBC's "Squawk Box Asia," explained that "central banks will never say [they're] done."

"What we're saying is our projection ahead is for a very flat 5.50% Official Cash Rate for the foreseeable future. But we retain options," Orr said.

He said that New Zealand's inflation expectations and economic growth is slowing, and "that gives us confidence that we can watch worry and wait, hopefully, and achieve our inflation target."

Despite the country's inflation rate standing at 6.7% in March, Orr predicts that inflation will reach 3% by the middle of 2024, and then to 2% by the middle of 2025.

"From now on, we hope to see headline CPI inflation to continue to fall and the economy achieve a relatively soft landing, although it probably won't feel like that for most people, because we like to spend," he quips.

Lim Hui Jie

8 Hours Ago

The Bank of Korea is expected to start cutting its benchmark interest rate early next year, Deutsche Bank's head of APAC Economic Research Juliana Lee said.

Lee added that she expects the central bank's policy pivot to come in tandem with the U.S. Federal Reserve.

"There are some signs that it's (exports) have hit the bottom in terms of contraction, but in terms of the rebound, we're not expecting until the fourth quarter, hence why we have a more bearish view" for growth than the central bank, Lee told CNBC's "Squawk Box Asia."

Lee added that she expects the South Korean won to remain widely unchanged until the central bank starts cutting rates.

Jihye Lee

8 Hours Ago

The Bank of Korea held its benchmark interest rate for the third consecutive time at 3.50% on Thursday.

The decision was in line with a consensus forecast by economists surveyed by Reuters that expected the central bank to pause.

The central bank governor earlier this month told CNBC that it was 'premature' to be discussing a rate cut, citing inflation rates in the nation that are still above the Bank of Korea's target of 2%.

South Korea is slated to release its consumer price index for May next Friday.

10 Hours Ago

Dow futures briefly slipped by about 100 points, or 0.3%, around 6:40 p.m. ET.

Top losers in the index include Cisco Systems, which fell 0.95%, and Intel, which dropped 0.9%.

Prior to the action, Fitch placed the United States' AAA rating on negative watch, citing debt ceiling brinksmanship around the debt ceiling negotiations and the approaching X-date, which Treasury Secretary Janet Yellen has said could be as early as June 1.

-Darla Mercado

11 Hours Ago

Check out the companies making headlines after hours.

Read the full story here.

Sarah Min

11 Hours Ago

Based on extended trading Wednesday, Nvidia's market cap neared $1 trillion after its strong earnings report.

The AI beneficiary hit $975 billion, adding $220 billion during the after-hours trading session. That's about the entire market cap of Advanced Micro Devices alone. As of Wednesday's close, AMD's market cap was $174 billion. Meanwhile, Salesforce is worth $209 billion.

Investors should be aware that even though Nvidia shares surged 26% in after-hours trading, there is no guarantee that those gains will carry into regular trading Thursday morning and result in a real market cap of that magnitude.

For Nvidia, the earnings beat was its biggest since May 2018, and its biggest revenue beat since November 2017.

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Nvidia shares 1-day

Robert Hum, Sarah Min

11 Hours Ago

Nasdaq 100 futures rallied Wednesday night after a strong earnings beat from Nvidia.

Nasdaq 100 futures jumped 1.7%. Dow Jones Industrial Average futures were flat, while S&P 500 futures gained 0.66%.

Sarah Min

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Dow futures slip as Fitch places United States' AAA rating on negative watch: Live updates - CNBC