Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms just days away. Without a deal, Switzerland faces 39% duties on its goods imported into the U.S., after it was hit with one of the highest new tariff rates under U.S. President Donald Trump's latest trade policy shift last week. The higher duty surprised many, as widespread reports had previously suggested a trade agreement was near, and was just missing Trump's signature. Over the weekend, reports emerged that the higher tariffs followed a disagreeable Thursday phone call...
European stocks posted their biggest weekly gain since mid-May on optimism that the European Union and the US can clinch some form of trade agreement in the coming weeks. The Stoxx Europe 600 Index rose 1.1% by the close, with automakers and consumer products stocks outperforming. It advanced 1.3% for the week, the most in six weeks. Sportswear companies Adidas AG and Puma SE rose after US peer Nike Inc.'s fourth-quarter revenue beat expectations and it said a yearlong sales decline is starting to ease. Bloomberg reported that European Commission President Ursula von...
US stocks reached new peaks on Friday as optimism of relaxed trade policy and confidence about rate cuts by the Federal Reserve outweighed pessimistic economic data. The S&P 500 and the Nasdaq 100 inched 0.3% higher to a new record while the Dow gained 200 points. Commerce Secretary Lutnick stated that the US reached a trade agreement with China, consolidating the relief of lower tariffs and preventing rare earth shortages. Officials also hinted at progress in trade deals with ten other countries, suggesting that the White House grew some aversion to trade barriers. In turn, the...
The Hang Seng lost 41 points or 0.2% to close at 24,284 on Friday, marking a second session of drop after a brief rise in morning trade. Sentiment turned cautious after data showed that China's industrial output slumped 9.1% yoy in May, the first fall in three months, dragging year-to-date output down 1.1% amid deflation risks and tariff uncertainty. Traders were also worried ahead of June PMI data in China next week from official and private sources. Property stocks dipped, with losses from China Overseas Land (-3.9%), Henderson Land (-2.3%), and Longfor Group (-1.8%). Pharma names such as...
European stocks rose on Friday as investors assessed signs of easing trade tensions between the United States and China, raising hopes of a further trade deal before a U.S. tariff pause deadline is lifted in July. The pan-European STOXX 600 index, which opened up 0.6 percent at 540.67 points, as of 0707 GMT. It was on track for its first weekly gain in three weeks. Other major regional indexes also traded higher. The United States has reached a deal with China on how to speed up shipments of rare earths to the United States, a White House official said on Thursday. With concerns about...
Japanese stocks rose after the close on Friday (6/27), as gains in the Real Estate, Banking and Textile sectors boosted shares. At the close in Tokyo, the Nikkei 225 rose 1.42% to hit a fresh 3-month high. The best performer on the Nikkei 225 was Sumitomo Metal Mining Co., Ltd. (TYO:5713), which rose 6.87% or 232.00 points to trade at 3,610.00 at the close. Meanwhile, Sumitomo Dainippon Pharma Co Ltd (TYO:4506) rose 6.62% or 61.00 points to close at 983.00 and Yokohama Rubber Co Ltd (TYO:5101) gained 6.42% or 235.00 points to close at 3,897.00. The worst performers on the session were...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
It...
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...
Tensions and fears are running high in Switzerland, as the deadline to strike a trade agreement with the U.S. looms just days away.
Without a deal, Switzerland faces 39% duties on its goods...