The White House is tightening its pressure on Democratic lawmakers as the U.S. government shutdown enters its second week, saying it will give them another chance to agree on a spending bill before beginning mass layoffs of federal employees. With the Senate scheduled to vote Monday night for the fifth time on a stopgap bill to keep the government operating until November 21, Kevin Hassett, President Donald Trump's top economic adviser, argued that it's time for Democrats to be "reasonable." Trump has said he will use the government shutdown to lay off thousands more federal employees, who...
European markets closed higher on Tuesday after investors pored over a raft of earnings for indications of the impact of U.S. tariffs and global economic uncertainty. The Stoxx 600 index closed 0.4% higher, with utilities and health care leading gains. Regionally, the FTSE 100 closed up 0.6% — its 12th straight day of gains and its best gain in at least five years. France's CAC 40 and Germany's DAX rose 0.1% and 0.8%, respectively. Volvo Cars shares fell 10% after the automaker reported a sharp drop in first-quarter profit and suspended its full-year guidance due to market headwinds....
US stocks were muted on Tuesday as markets assessed the latest earnings and the risks that tariffs and uncertain economic policy may have on corporate returns. The three main averages were close to the flatline. Trade and economic policy uncertainty drove UPS to refrain from giving a full-year outlook, pressuring their shares by 2%. Also, while GM sank 4% after it cancelled its share buyback and pulled its outlook due to the possibility of tariffs. Additionally, Amazon fell by 1% after stating it will list the additional surcharge on its goods due to tariffs, driving White House officials...
The Hang Seng rose 36 points or 0.2% to end at 22,008 on Tuesday, mainly helped by strength in tech and financials after a muted prior session. Markets trimmed early gains, amid caution ahead of April's official PMI data in China that will be due Wednesday. Investors continued to await more clarity on U.S. tariff plans and their potential impact on China. Beijing Monday held off on new stimulus but reiterated support for exporters and workers affected by U.S. tariffs and said contingency plans for the economy are in place. Meantime, mainland markets will be closed from May 1 for a 5-day...
European markets were mixed on Tuesday as investors assessed a wave of earnings for signs of how US tariffs and global uncertainty are affecting companies. The Stoxx 50 was down 0.2% while the Stoxx 600 rose 0.2%, though the autos sector slipped 0.4%, led by Volvo Cars, which reported a sharp drop in Q1 profit and suspended its full-year guidance. The Swedish automaker also announced SEK 18 billion ($1.87 billion) in cost cuts. Porsche fell 7.4% after cutting its sales and margin forecasts, citing US tariffs. In banking, HSBC beat Q1 estimates despite year-on-year declines in profit and...
Hong Kong equities rose 123 points or 0.6% to 22,095 in Tuesday's morning session, rebounding from a muted day as a modest rise in U.S. futures lifted sentiment. Gains came as investors awaited more earnings reports following a volatile Wall Street session overnight. China's commitment on Monday to aid exporters and workers impacted by U.S. tariffs continued to boost confidence, complemented by contingency plans aimed at bolstering the broader economy. On the trade front, Hong Kong's exports surged 18.5% yoy in March—the strongest growth in over a year and the highest value in three years—as...
Asia-Pacific markets traded higher, tracking Wall Street gains overnight.
Japan's benchmark Nikkei 225 rose 0.41% after hitting a fresh record high on Thursday, while the Topix added 0.61%. South...
Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
Hamas officials were in Egypt on Monday (October 6th) ahead of talks with Israel that the US hopes will lead to an end to the war in Gaza and the release of hostages, despite contentious issues such...