The S&P 500 fell on Tuesday, a day after the broad market index and Nasdaq Composite hit fresh records, as traders weighed the latest earnings reports and new trade developments. The S&P 500 ticked lower by 0.3%, while the Nasdaq slipped 0.9%. The Dow Jones Industrial Average rose 74 points, or 0.2%. Shares of aerospace and defense name Lockheed Martin were down almost 7% after the company's revenue for the second quarter missed analyst estimates. Similarly, Philip Morris lost 6% after the tobacco company's second-quarter revenue also missed expectations. So far, 88 S&P 500...
The Nikkei 225 fell 1.1% to around 39,500, while the broader Topix Index declined 0.6% to 2,814 on Wednesday, marking a second consecutive day of losses for Japanese equities. The selloff came after US President Donald Trump threatened to impose a 35% tariff on Japanese imports, aiming to pressure Tokyo into making trade concessions. Trump described negotiations with Japan as "very tough," renewing criticism over the country's reluctance to accept US-made cars and rice. His comments added to investor concerns, especially after Federal Reserve Chair Jerome Powell stated that the Fed would...
U.S. stocks closed mixed on Tuesday after the Senate passed President Trump's sweeping budget bill, with investors also keeping an eye on trade developments. The S&P 500 fell 0.1%, and the Nasdaq dropped 0.8% after hitting a record high on Monday, as enthusiasm over potential stimulus clashed with concerns about the bill's trillion-dollar cost. The Dow Jones industrials outperformed, rising 400 points, led by sharp gains in health care stocks such as UnitedHealth (+4.5%) and Amgen (+4%). In contrast, technology stocks dragged the Nasdaq, with Tesla down 5.3% after Trump escalated his...
European stocks edged lower on Tuesday on trade uncertainty with doubts on whether the ECB would continue to cut interest rates. The Eurozone's STOXX 50 fell 0.3% to 5,288, and the pan-European STOXX 600 dropped 0.2% to 540. Reports indicated that the EU is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources...
The US stock market moved without a clear direction on Tuesday. The S&P 500 and Nasdaq fluctuated, while the Dow Jones rose about 200 points, extending the previous day's gains. The S&P 500's quarterly performance recorded its best record since 2023. Investors are still watching developments in trade negotiations and discussions on the budget bill in the US Congress. Federal Reserve Chairman Jerome Powell said that the impact of tariffs on prices would likely only be seen in the next few months. However, he also emphasized that most Fed officials support a rate cut before the end of...
Both the STOXX 50 and the STOXX 600 edged up 0.1% on Tuesday, as investors continued to monitor trade negotiations with the US ahead of the looming July 9th deadline for reciprocal tariffs. Bloomberg reported that the European Union is open to a deal involving a 10% universal tariff on many of its exports, but is seeking concessions from the US on key sectors such as pharmaceuticals, alcohol, semiconductors, and commercial aircraft. The EU's trade chief is expected to lead a delegation to Washington this week in an effort to advance the talks, according to sources cited by Bloomberg. On...