Switzerland's government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a crippling 39% U.S. import tariff on Swiss goods. An urgent meeting of the seven-member Federal Council - Switzerland's governing cabinet - will take place in Bern in the early afternoon, the government said a post on X. Swiss President Karin Keller-Sutter left Washington on Wednesday without a new deal and did not meet with U.S. President Donald Trump or any of his top trade officials, two sources...
The Nikkei 225 dropped 247 points or 0.9% to 37,595 in Monday morning trade, while the broader Topix fell 0.3% to 2,733, tracking a plunge in U.S. futures after Moody's downgraded the U.S. credit rating to Aa1 from Aaa on Friday, citing a deteriorating fiscal trajectory and "a lack of effective policy action" to rein in deficits. Sentiment was further pressured by Treasury Secretary Bessent's warning that trade partners would face maximum tariffs if they failed to negotiate with the U.S. in "good faith." Additionally, Japan's Q1 2025 GDP shrank 0.2% qoq, worse than the expected 0.1% fall and...
The S&P 500 rose Friday for a fifth session and posted a sharp weekly gain, as investors looked past the release of disappointing consumer sentiment data and persistent inflation worry. The broad market index climbed 0.70% to end at 5,958.38, while the Nasdaq Composite gained 0.52% to close at 19,211.10. The Dow Jones Industrial Average gained 331.99 points, or 0.78%, settling at 42,654.74. Friday's advance put the 30-stock benchmark into positive territory for 2025. For the week, the S&P 500 surged 5.3%, and the Dow gained 3.4%. The Nasdaq Composite jumped 7.2% this week....
The Dow Jones Industrial Average (DJIA) stepped into fresh weekly highs on Friday after investors shrugged off the second-worst print from the University of Michigan's (UoM) Consumer Sentiment Index on record. Market sentiment remains on the high side as traders hope for further clarity on trade from the Trump administration and a continued easing of President Donald Trump's tariff policies. The UoM's Consumer Sentiment Index sank to 50.8 from 52.2 as consumers' outlook for economic activity, income, and employment continues to decline. Investors were hoping for an uptick in consumer...
The European stock markets closed higher in Friday trading as the Stoxx Europe 600 gained 0.28%, Germany's DAX was up 0.12%, the FTSE 100 rose 0.59%, France's CAC 40 increased 0.24%, and the Swiss Market Index advanced 0.61%. In France, the unemployment rate was 7.4% in Q1, up slightly from 7.3% in the previous quarter, according to the national statistics agency. In Italy, the annual inflation rate held steady at 1.9% in April, unchanged from March and slightly below the 2.0% forecast, according to Bloomberg. And in corporate news, Novo Nordisk said Friday that Lars Fruergaard Jorgensen...
US stocks hovered around the flatline on Friday (05/16), with volatility expected during the session as a large number of options expire. Despite the choppy trading, the three major indexes remained on track to post solid weekly gains. Market sentiment improved amid signs of easing trade tensions, as the U.S. and China agreed to temporarily ease tariffs. At the same time, a series of mostly weak economic data has reinforced expectations that the Fed has room to cut interest rates at least twice this year. Housing starts and building permits both came in below estimates, while export and...
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...
Switzerland's government will hold an emergency meeting on Thursday to decide its next move after its president returned home empty-handed from an 11th-hour trip to Washington aimed at averting a...