The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as investors digested a wave of trade developments and corporate earnings. Optimism surrounding trade talks contributed to the rally, with President Trump scheduled to meet with European Commission President Ursula von der Leyen on Sunday amid hopes of a US-EU deal. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the...
The Nikkei 225 and Topix indexes struggled to find clear direction on Wednesday as the intensifying trade war between the US and its major trading partners weighed on financial markets. President Trump's 25% tariffs on goods from Canada and Mexico, along with a 10% duty on Chinese imports, took effect on Tuesday, sparking retaliatory actions from those countries. However, US Commerce Secretary Howard Lutnick suggested that a potential compromise between the US, Canada, and Mexico on tariffs might be possible. In Japan, data revealed that services sector growth reached a six-month high in...
Asia-Pacific markets opened mostly higher Wednesday amid worries over U.S. President Donald Trump's tariffs and escalating global trade tensions. Australia's S&P/ASX 200 fell 0.73%. Japan's Nikkei 225 added 0.25% while the Topix rose 0.28%. South Korea's Kospi climbed 1.09% while the small-cap Kosdaq advanced 1.26%. Futures for Hong Kong's Hang Seng index were at 23,014, higher than the HSI's last close of 22,941.77. Investors will be looking out for announcements coming out of China's "Two Sessions," an annual parliamentary gathering which began on Tuesday, where Beijing is poised...
The Dow Jones Industrial Average (DJIA) tumbled 700 points at its lowest on Tuesday as investor sentiment hits the floorboards. After the initial sticker shock on new import taxes, markets recovered some footing, but the Dow Jones remains down around 550 points.United States (US) President Donald Trump has kicked off his second, bigger global trade war by imposing a stiff 25% tariff on all imported goods from Canada and Mexico, as well as adding on an additional 10% import tax on China, bringing China's tariff total to 20%. Further tariff packages are still in the oven, with the Trump...
Wall Street's main indexes fell on Tuesday, with the tech-heavy Nasdaq on course to confirm a correction, as investors feared that an escalating trade war between the U.S. and its partners could damage the country's economy.The Nasdaq Composite index was on track to fall into correction territory, having fallen 10% from its record closing high on December 16.Financials weighed on all the three indexes and those on the S&P 500 led sectoral declines with a 3.6% drop.Wall Street's biggest banks such as Citigroup (NYSE:C) and JPMorgan Chase & Co (NYSE:JPM) fell 7.4% and 4.8%,...
U.S. stocks continued to slide on Tuesday as Donald Trump's tariffs on Canada, Mexico and China went into effect and prompted retaliatory measures, raising investor concerns about the economy. The Dow Jones Industrial Average fell 520 points, or 1.2%. The S&P 500 fell 1.1%. The Nasdaq Composite fell 1%, pushing the tech-heavy index near correction territory, when an index drops 10% from a recent high. The U.S. imposed 25% tariffs on Canada and Mexico that took effect at midnight. Trump also imposed additional 10% duties on Chinese goods. China retaliated with additional duties of up...