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...
Japan's Nikkei 225 jumped 1% to above 39,300 on Thursday, hitting a four-month high as technology shares rallied along with Wall Street's advance. The move followed a surge in Nvidia shares, which hit a new record high overnight to reclaim its status as the world's most valuable public company, driven by continued optimism around artificial intelligence. Japanese chip stocks mirrored the momentum, with Advantest up 4.3%, Tokyo Electron up 1.7%, Lasertec up 1.5% and SoftBank Group up 2.8%. Geopolitical sentiment also improved as a ceasefire between Iran and Israel appeared to be holding,...
Wall Street closed on a mixed note on Wednesday as investors weighed steady Middle East ceasefire developments and digested Fed Chair Jerome Powell's second day of congressional testimony. The S&P 500 finished flat, and the Dow slipped 105 points, while the Nasdaq 100 rose 0.2% notching a fresh record close. Fed Chair Jerome Powell maintained a cautious tone, signaling that while the Fed can manage potential inflation from tariffs, it's not yet ready to cut rates, despite mounting pressure from President Trump and some lawmakers. Meanwhile, housing data revealed new home sales dropped...
European stocks close firmly lower on Wednesday as markets continued to assess the impact as geopolitical tension in the Middle East may have on energy prices and the outlook of European debt supply amid pledges of higher defense spending. The Eurozone's STOXX 50 dropped 0.8% to close at 5,254 and the pan-European STOXX 600 dropped 0.7% to 537. NATO members agreed to increase defense spending to 5% of their GDP by 2030 during the ongoing summit in the Hague. Food and beverage producers led the losses among main equity sectors of the Eurozone, with AB InBev and Danone dropping more than 3%....
The S&P 500 edged up 0.2% on Wednesday, while the Nasdaq 100 gained 0.4% and appeared poised to surpass the all-time high set in the previous session. The Dow Jones on the other hand, hovered near the flatline. Traders continued to assess the economic and monetary policy outlook ahead of Fed Chair Powell's second day of testimony before Congress. His remarks on Tuesday were widely seen as dovish, reinforcing expectations for at least two interest rate cuts by year-end. Meanwhile, the apparent stability of the ceasefire between Iran and Israel also provided some support to market...
The Hang Seng jumped 298 points or 1.2% to close at 24,475 on Wednesday, rising for the fourth straight session and notching its highest level in over three months. The rally tracked strong gains on Wall Street, as the U.S.-brokered truce between Iran and Israel appeared to hold, with both nations signaling an end to their air strikes, at least for now. Meanwhile, Fed Chair Powell reiterated there's no need to rush rate cuts, though some analysts believe easing could come sooner if inflation remains contained. In China, Beijing unveiled new guidelines to boost consumption through financial...
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.
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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...