U.S. stocks fail to rebound, major indices end mixed

NEW YORK, New York - U.S. stocks were bought up Thursday, a day after the major indices plunged. Profit-taking and bargain-hunting appeared to be in vogue most of the day as stocks traded in the black, however towards the end, the S&P 500 and Nasdaq slipped into negative territory, while the Dow Jones eked out a limp gain.

"I think that this correction could last a bit," Paul Meeks, Harvest Portfolio Management's co-chief investment officer, told CNBC's #Squawk Box" on Thursday. "You've seen the marquee name Nvidia come down, so what I would expect people to do and what I would recommend people to do is to maybe keep some powder dry."

The benchmark Standard and Poor's 500 slipped 5.08 points to close at 5,867.08, down 0.09 percent. The modest decline came despite some strength in defensive sectors, as traders remained cautious amid ongoing uncertainty over future interest rate policies and global growth prospects.

The Dow Jones Industrial Average fared a bit better, adding 15.37 points to finish at 42,342.24, up by a marginal 0.04 percent. The index benefited from gains in a handful of heavyweight stocks, helping the Dow outperform its major counterparts even as underlying sentiment remained tentative.

Meanwhile, the tech-heavy NASDAQ Composite lost 19.93 points to end at 19,372.77, declining 0.10 percent. Growth-oriented and technology names struggled to find traction, as investors took profits following recent rallies and rebalanced their portfolios ahead of upcoming economic releases.

Global FX Markets Mixed as Dollar Sees Varied Moves on Thursday

Global foreign exchange markets experienced mixed movements Thursday, as the U.S. dollar showed divergent trends against key counterparts. Investors appeared to weigh recent central bank commentary, uneven economic data, and shifting risk appetite, resulting in a day of selective gains and losses across major currency pairs. The US Dollar Index (DX-Y.NYB) strengthened by 0.36 points, or 0.33 percent, reaching 108.39.

The Euro / US dollar (EURUSD) climbed slightly, advancing to 1.0367, representing a gain of 0.16 percent.

Meanwhile, the US dollar / Japanese yen (USDJPY) surged, reaching 157.31, up by a notable 1.62 percent. This move signaled renewed dollar strength against the yen, as traders interpreted recent U.S. economic indicators and potential interest rate differentials in the greenback's favor, particularly in light of the Bank of Japan's decision on Thursday to leave interest rates unchanged.

In North America, the US dollar / Canadian dollar (USDCAD) retreated to 1.4388, down 0.40 percent, as slightly firmer energy prices lent some support to the Canadian dollar.

Across the Atlantic, the British pound / US dollar (GBPUSD) slipped to 1.2506, losing 0.53 percent.

Against the Swiss currency, the US dollar / Swiss franc (USDCHF) edged lower by 0.34 percent to 0.8979, with the Swiss franc benefiting from its traditional status as a safe-haven currency amidst market uncertainties.

Commodity-linked currencies painted a more upbeat picture, as the Australian dollar / US dollar (AUDUSD) gained 0.42 percent to 0.6242, capitalizing on a mild improvement in risk sentiment. Similarly, the New Zealand dollar / US dollar (NZDUSD) edged up by 0.22 percent to 0.5634, echoing the positive mood in the Australian dollar.

Global Markets Close Mostly Lower on Thursday

Equity markets around the world largely retreated Thursday as investor sentiment remained cautious amid economic uncertainties. Key benchmarks in Europe posted across-the-board declines, while mixed performances were recorded in Asia and select emerging markets. Some isolated regional gauges managed slight gains.

Canada

North of the border, Canada's S&P/TSX Composite index dropped 143.06 points, or 0.58 percent, to settle at 24,413.94. Energy and financial sectors weighed on the benchmark as traders digested mixed commodity prices and assessed the broader global economic landscape.

UK and Europe

\In the UK, the FTSE 100 ended the session at 8,105.32, falling 93.79 points, or 1.14 percent.

Germany's DAX slipped 272.71 points, or 1.35 percent, to close at 19,969.86, while France's CAC 40 declined by 90.25 points, or 1.22 percent, finishing at 7,294.37.

The EURO STOXX 50 lost 78.28 points, or 1.58 percent, settling at 4,879.00. Meanwhile, the Euronext 100 Index shed 19.63 points, or 1.34 percent, to 1,441.02, and Belgium's BEL 20 dropped 46.81 points, or 1.10 percent, concluding the day at 4,204.57.

Asia

Asian markets offered a mixed picture, with Hong Kong's HANG SENG INDEX sliding 112.04 points, or 0.56 percent, to 19,752.51.

In mainland China, the SSE Composite Index declined by 12.17 points, or 0.36 percent, finishing at 3,370.03.

Japan's Nikkei 225 dropped 268.13 points, or 0.69 percent, settling at 38,813.58.

Singapore's STI Index dipped 16.74 points, or 0.44 percent, to 3,762.88.

Over in India, the S&P BSE SENSEX lost 964.16 points, or 1.20 percent, ending at 79,218.05.

By contrast, Malaysia's FTSE Bursa Malaysia KLCI managed a slight uptick, adding 0.51 points, or 0.03 percent, to 1,600.09.

South Korea's KOSPI declined sharply by 48.50 points, or 1.95 percent, to 2,435.93, and Taiwan's TAIEX (TWSE Capitalization Weighted Stock Index) slipped 236.42 points, or 1.02 percent, to 22,932.25.

Oceania

In Australia, the S&P/ASX 200 declined 141.20 points, or 1.70 percent, to close at 8,168.20, and the ALL ORDINARIES ended down 143.60 points, or 1.68 percent, at 8,415.00.

New Zealand's S&P/NZX 50 gave back 111.40 points, or 0.87 percent, closing at 12,754.15.

Middle East

Israel's TA-125 index was down by 23.67 points, or 0.98 percent, finishing at 2,399.67, while in Egypt, the EGX 30 managed a slight gain, up 23.60 points, or 0.08 percent, to 30,526.70.

Africa

South Africa's Top 40 USD Net TRI Index declined 145.39 points, or 3.17 percent, to 4,435.30.

Outlook

Market participants remained on edge as concerns over global economic growth and central bank policies continued to weigh on sentiment.

Photo credit: Big News Network news agency

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