US stocks rallied on Wednesday (July 23), driven by optimism over a new trade agreement and strong corporate momentum. The S&P 500 rose 0.8% to a new record high, while the Nasdaq gained 0.7%. The Dow Jones Industrial Average surged 505 points, nearly reaching its own record high. The market welcomed news of a finalized trade deal between the US and Japan that includes reciprocal tariffs of 15%, with President Trump signaling similar progress in negotiations with the European Union. Reports suggesting a US-EU deal is nearing completion, mirroring Japan's framework, further boosted...
Stocks were little changed Tuesday, following modest gains seen in the first session of June, as growth concerns increased and traders awaited more details on potential U.S. trade deals. The S&P 500 and Dow Jones Industrial Average each hovered around the flatline. The Nasdaq Composite, however, was higher by 0.4%. Tuesday's declines follow the Organization for Economic Co-operation and Development cutting its U.S. growth outlook. The OECD now sees the U.S. economy expanding by just 1.6%, down from 2.2%. Treasury yields declined, as traders sought out safety. The benchmark 10-year...
The Hang Seng surged 354 points or 1.5% to end at 23,512 on Tuesday, reversing Monday's losses amid strength in all sectors. Hopes that President Trump and China's leader Xi Jinping may speak this week boosted sentiment, signaling a potential easing in trade tensions. Meantime, Finance Secretary Paul Chan reaffirmed Hong Kong's 2025 GDP growth target of 2% to 3%, citing solid Q1 data as well as recent monetary easing and business support measures in China. In corporate news, Vodafone and CK Hutchison finalized their UK merger, launching VodafoneThree with plans to invest £11 billion over...
European shares rebounded on Tuesday, with the Stoxx 50 and Stoxx 600 rising about 0.2%, supported by broader market gains. Investors remained focused on US trade policy developments, with some hope after the White House said Presidents Trump and Xi may speak this week, despite rising trade tensions. Caution persisted as Trump's unpredictable tariff plans continued to unsettle markets. The US administration also asked an appeals court to pause a ruling that could block new tariffs and urged countries to submit trade proposals by Wednesday. In Europe, attention turned to upcoming euro zone...
Japan stocks were lower after the close on Tuesday, as losses in the Paper & Pulp, Transport and Communication sectors led shares lower. At the close in Tokyo, the Nikkei 225 declined 0.05%. The best performers of the session on the Nikkei 225 were IHI Corp. (TYO:7013), which rose 6.07% or 875.00 points to trade at 15,280.00 at the close. Meanwhile, M3 Inc (TYO:2413) added 6.05% or 122.50 points to end at 2,146.00 and Kawasaki Heavy Industries, Ltd. (TYO:7012) was up 6.02% or 615.00 points to 10,825.00 in late trade. The worst performers of the session were Suzuki Motor Corp....
Asia-Pacific markets mostly rose Tuesday following gains on all three Wall Street benchmarks overnight, despite mounting global trade frictions. China pushed back against the U.S.′ accusations that it had violated a temporary trade agreement. Instead, the Asian powerhouse blamed Washington for failing to uphold the deal — a sign that negotiations between the world's two largest economies are deteriorating. Meanwhile, the European Union criticized U.S. President Donald Trump's intention to double steel tariffs to 50%, saying that such a move "undermines" its own negotiations with the U.S....