US Stocks plunged on Friday, as investors reacted to a weak July jobs report and a fresh round of tariffs announced by President Trump. The S&P 500 and Nasdaq fell 1.6% and 2.2%, their steepest drops since April, while the Dow lost 542 points. Payrolls rose by just 73,000 in July, far below expectations, with sharp downward revisions to prior months signaling deeper labor market weakness. Treasury yields fell and the odds of a September Fed rate cut rose above 80%. Sentiment worsened after new tariffs of 10% to 41% were imposed on imports from key partners including Canada, India, and...
Asia-Pacific markets were set to rise Monday as investors awaited clarity about U.S. President Donald Trump's plans to impose impose tariffs this week on key U.S. trading partners. U.S. Commerce Secretary Howard Lutnick reportedly told Fox News on Sunday that the exact tariff that will be levied against Mexico and Canada starting Tuesday is still "fluid," which means it could be lower than the proposed 25%. He added that the additional 10% duty on China imports is "set." Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Chicago at 37,745 while its...
US stocks closed higher on Friday, with the S&P 500 and Nasdaq each up 1.6%, while the Dow gained 601 points. Investors weighed a tense exchange between President Donald Trump and Ukraine's Volodymyr Zelenskyy in the Oval Office. Vance called Zelensky "disrespectful," while Trump accused Zelensky of "gambling with World War III." Trump's tariff threats also rekindled warnings of retaliation from China, raising uncertainty, especially in Big Tech. Economic data sent mixed signals: Core PCE inflation eased to 2.6% as expected, but consumer spending unexpectedly fell 0.2% in January. Nvidia...
European stocks pared early morning gains but still closed slightly lower on Friday, ending a volatile week as markets continued to assess the impact of U.S. tariffs on the EU on the European economy. The Eurozone STOXX 50 fell 0.4% to close at 5,451, not too far from a record high hit last week, while the STOXX 600 closed just below the flatline at 557, just below Wednesday's all-time high. Technology stocks led the declines as markets weighed the cautious outlook for the U.S. tech sector and potential tariffs from Washington, with ASML and Infineon down 3-1% and 2.2% respectively. In turn,...
The S&P 500 hovered around the flatline, the Nasdaq fell about 0.6% and the Dow Jones gained nearly 90 points on Friday, with the tech sector remaining under pressure and traders digesting the latest PCE report and escalating trade tensions. Nvidia shares dropped 2%, extending the previous session's sell-off after its quarterly results failed to impress investors. Also, Broadcom was down 0.8%, Tesla fell 0.9%, and Oracle slipped 2%. Meanwhile, PCE price data aligned with expectations, with annual rates easing slightly. This provided some relief over inflationary pressures and reinforced...
European markets opened in negative territory on Friday, after U.S. President Donald Trump threatened once again to slap tariffs on the EU and followed through with new levies on Canada and Mexico. The pan-European Stoxx 600 index was 0.5% lower during early trade, with almost every sector losing ground. All major bourses saw losses, with France's CAC 40 and the German Dax both down more than 0.5%. Regional markets ended Thursday's session lower after Trump threatened to impose 25% duties on imports from the EU, saying the tariffs would be announced "very soon" and apply to "cars and...