The European stock markets closed sharply lower in Friday trading as The Stoxx Europe 600 fell 1.8%, Germany's DAX dropped 2.5%, the FTSE 100 was down 0.7%, France's CAC decreased 2.9%, and the Swiss Market Index declined 0.8%. The annual inflation rate in the euro area was an estimated 2.0% in July, which is unchanged from June, according to a flash estimate from Eurostat, the EU's statistical office. Analysts had been expecting 1.9%, according to Bloomberg. Eurostat said food, alcohol, and tobacco are expected to have the highest annual rate in July at 3.3%, compared with 3.1% in...
Japanese stocks fell as uncertainty over U.S. tariffs persisted. The prospect of continued Bank of Japan interest rate hikes also weighed on the market following stronger-than-expected inflation data for Tokyo in May. Chip and tech shares led the decline. Renesas Electronics fell 4.7% and SoftBank Group dropped 4.1%. USD/JPY was at 143.83, down sharply from 145.68 at the close of the Tokyo stock market on Thursday. Investors were focused on any developments related to tariffs and BOJ policymaking. The Nikkei Stock Average was down 1.6% at 37,809.74. Source: Bloomberg
US stocks edged higher on Thursday amid a mix of earnings optimism and tariff uncertainty. The S&P 500 and Nasdaq each rose 0.4%, while the Dow gained 117 points, supported by Nvidia's strong report and upbeat corporate news such as Boeing's production plans. Nvidia shares rose 3.2% after beating quarterly sales estimates, boosted by demand for AI chips despite warnings that U.S. export curbs on China could shave $8 billion off next quarter's sales. However, market gains were capped by the ongoing legal battle over President Donald Trump's tariffs. A federal court initially blocked...
European stocks erased early gains on Thursday, with the STOXX 50 closing flat at 5,377 and the STOXX 600 down slightly to 548, each up more than 1% during the session. Initial optimism following a ruling by the U.S. Court of International Trade, which found that President Donald Trump had exceeded his authority in imposing reciprocal tariffs and ordered the government to stop collecting them, faded as investors weighed the possibility that the administration would pursue alternative legal avenues to defend its trade policies. Attention also turned back to the U.S. economic outlook amid...
Stocks advanced on Thursday after a federal court knocked down President Donald Trump's "reciprocal" tariffs and as Nvidia shares staged a post-earnings rally. The S&P 500 climbed 0.5%, while the Nasdaq Composite advanced 0.9%. The Dow Jones Industrial Average gained 78 points, or 0.2%, weighed down by a slide of more than 5% in Salesforce following earnings. The U.S. Court of International Trade ruled on Wednesday night that Trump overstepped his authority when he imposed his "reciprocal" tariffs. The court ordered that the challenged tariff orders be vacated. Trump's changing...
The Hang Seng surged 315 points or 1.4% to close at 23,573 on Thursday, recovering from the prior day's drop after a U.S. court ruled that President Trump exceeded his authority by imposing broad tariffs on U.S. trade partners. Although the White House appealed the decision and could escalate it to the Supreme Court, the verdict raised hopes that Trump might ease the highest tariff threats. Tech stocks led gains, up 2.5% on strong earnings from Nvidia. Consumer and financial stocks also advanced, lifted by UBS raising its 2025 Hong Kong GDP growth forecast to 2.2% from 1%, amid robust Q1...