Stock futures decline on Tuesday morning following S&P 500’s dip at the beginning of the second quarter: Real-time updates

Stock futures decline on Tuesday morning following S&P 500’s dip at the beginning of the second quarter: Real-time updates

4 Hours Ago

Country Garden announces trading suspension

Country Garden Holdings said on Tuesday trading in its shares on the Hong Kong Stock Exchange will be suspended.

The trading suspension will come into effect from 9 a.m. Hong Kong time on April 2, the statement read.

The beleaguered China property developer said on Thursday that its results for 2023 will be delayed.

Shares of the Hong Kong-listed company have fallen nearly 38% so far this year.

— Shreyashi Sanyal

4 Hours Ago

Australian gold miners surge after bullion hit record highs

Shares of gold miners in Australia climbed as the market reopened after a holiday, with heavyweight Newmont Corporation leading sector-wide gains, up more than 5%.

Newmont is currently the second-largest gold miner on the Australian stock exchange by market cap.

Northern Star Resources, the largest gold miner on the ASX by market cap, also rose about 2.21%.

The gains come after gold prices hit fresh records on Thursday, reaching a high of $2,286.4.

— Lim Hui Jie

5 Hours Ago

Reserve Bank of Australia to shift to a new system to implement monetary policy

A man walking past the Reserve Bank of Australia in the central business district of Sydney on June 7, 2022.

Muhammad Farooq | Afp | Getty Images

Australia’s central bank will switch to a new system for the implementing its monetary policy, Christopher Kent, Assistant Governor of the Reserve Bank of Australia, said in a speech on Tuesday.

Kent said the RBA endorsed the option to move to the ample reserves system, with full allotment repurchase agreement auctions for its open market operations, similar to that of the Bank of England, the European Central Bank, and Sweden’s Riksbank.  

“I want to emphasize that this decision has no implications for the current or future stance of monetary policy,” he said, adding that it won’t impact the way RBA currently handles quantitative tightening.

— Shreyashi Sanyal

7 Hours Ago

8 of 11 S&P 500 sectors finished lower Monday

Eight of the 11 S&P 500 sectors ended Monday’s session lower.

Real estate was the worst performer and slid 1.8% in its worst daily performance since Feb. 13, when it fell 1.8%. The best-performing sector was communication services, which rose 1.5%.

Despite Monday’s losses, all 11 sectors are still trading within 10% of their 52-week highs.

— Lisa Kailai Han, Christopher Hayes

7 Hours Ago

Health insurance stocks slide Monday night

Health insurance stocks fell during Monday’s extended trading hours. The move came after the Centers for Medicare & Medicaid Services finalized its capitation rates for Medicare Advantage for the 2025 calendar year.

The government’s payments to Medicare plans will on average increase by 3.7%, or more than $16 billion in the next year. This final rate of 3.7% is unchanged from January’s proposed rate of 3.7%, disappointing analysts who had expected between 50 basis points and 100 basis points of improvement.

Shares of Humana lost 9%, while both UnitedHealth Group and CVS Health shed 5%. Elevance Health and the Cigna Group respectively fell 4% and 2%.

— Lisa Kailai Han

8 Hours Ago

S&P 500 futures open little changed

S&P 500 futures flickered near the flatline Monday night.

Nasdaq 100 futures traded less than 0.1% lower. Dow futures, on the other hand, slid 113 points, or 0.3%, dictated by a slide in health insurance stocks.

— Lisa Kailai Han

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