European stocks closed lower for a third session amid persistent concerns about US tariffs. The Eurozone STOXX 50 index fell 1% to 5,288, and the pan-European STOXX 600 index fell 0.5% to 544. US Treasury Secretary Bessent noted that White House officials were prioritizing trade agreements they considered beneficial rather than rushing to reach a deal before the August 1 deadline, which could potentially pave the way for the imposition of 30% tariffs on the EU before negotiations conclude. Defense stocks were among the biggest decliners, with Rheinmetall, BAE Systems, and Thales falling...
Japanese stocks rebounded Friday, tracking fresh highs in US markets, as robust jobs data alleviated fears of an economic slowdown. The Nikkei 225 opened 208.74 points higher at 39,785.90, buoyed by positive global sentiment. US markets closed higher ahead of the House passing President Donald Trump's $4.5 trillion tax cut bill, despite earlier deficit concerns. At home, Japan's household spending rose 4.7% year on year in May, driven by higher car purchases, providing support for Japan's economy amid US tariff pressures. Source: MTN newswires
The three major U.S. indexes rose more than 0.8% on Thursday, with the S&P 500 and Nasdaq 100 closing at record highs as nonfarm payrolls rose by 147,000 in June, well above consensus estimates of 110,000, and the unemployment rate unexpectedly fell to 4.1%, reinforcing views of a resilient economy. Tech leaders advanced, with Nvidia up 1.3% and Synopsys jumping 4.2% on strong earnings momentum driven by AI and the White House's decision to lift export restrictions on chip design software to China. Meanwhile, broader market optimism was supported by progress on a U.S.-Vietnam trade deal...
European shares closed higher on Thursday as investors took in stride a stronger-than-expected U.S. jobs report, with bank stocks leading gains as focus remained on a potential trade deal between the European Union and the United States. The pan-European STOXX 600 index (.STOXX), closed 0.5% higher, in tandem with a 0.9% rise in the U.S. S&P 500 (.SPX), Germany's DAX (.GDAXI), advanced 0.6%, while France's CAC 40 (.FCHI), added 0.2%. U.S. job growth was unexpectedly solid in June, with the nonfarm payrolls reading shooting above market estimates for the month. "Today's good news...
U.S. stocks rose on Thursday after fresh evidence of a strong labor market reinforced views of a resilient economy. The three major indexes rose about 0.5%, with the S&P 500 and Nasdaq hitting fresh records. Nonfarm payrolls rose by 147,000 in June, well above expectations for a 110,000 gain, while the unemployment rate unexpectedly fell to 4.1%. The data brushed aside concerns that tariffs and economic uncertainty were hurting jobs, underscoring the resilience of the U.S. economy. In turn, lawmakers in the lower House of Representatives cleared a hurdle to be on track to pass Trump's...
Nonfarm Payrolls (NFP) in the United States (US) rose by 147,000 in June, the US Bureau of Labor Statistics (BLS) reported on Thursday. This reading followed the 144,000 (revised from 139,000) increase recorded in May and came in better than the market expectation of 110,000. Other details of the employment report showed that the Unemployment Rate edged lower to 4.1% from 4.2%, while the Labor Force Participation Rate ticked down to 62.3% from 62.4%. Finally, annual wage inflation, as measured by the change in the Average Hourly Earnings, retreated to 3.7% from 3.8% in May. This print fell...