The S&P 500 rose 0.4% on Friday (July 25), notching its fifth consecutive record close—its longest streak in more than a year—while the Nasdaq 100 gained 0.2% after hitting an intraday high. The Dow Jones Industrial Average gained 208 points as investors digested a wave of trade developments and corporate earnings. Optimism surrounding trade talks contributed to the rally, with President Trump scheduled to meet with European Commission President Ursula von der Leyen on Sunday amid hopes of a US-EU deal. Deals were also reached with Japan, Indonesia, and the Philippines ahead of the...
President Donald Trump on Monday said he will soon announce tariffs targeting automobiles, pharmaceuticals and other industries, signaling his plans to pile more sweeping duties on top of his forthcoming "reciprocal tariffs." "We'll be announcing cars very shortly," Trump said at a Cabinet meeting. "We already announced steel, as you know, and aluminum." "We'll be announcing pharmaceuticals at some point," he said, "because we have to have pharmaceuticals." "So we'll be announcing some of these things in the very near future, not the long future, the very near future," Trump said. Trump...
European markets closed slightly lower on Monday as optimism over the path of U.S. tariffs faded. Concluding a choppy session, the pan-European Stoxx 600 ended 0.13% lower, with Germany's DAX down 0.17%, France's CAC 40 down 0.26%, and the U.K.'s FTSE 100 down 0.1%. The travel and leisure sector was up 0.55% after London's Heathrow Airport reopened on Saturday following a power outage caused by a fire at a nearby electrical substation that disrupted Friday service. British Airways owner IAG was up 0.8%. Swedish defense firm Saab gained 4.5% after UBS upgraded its stock from neutral to...
European markets were mixed on Monday after U.S. President Donald Trump hinted at tariff "flexibility." The pan-European Stoxx 600 was little-changed by 4 p.m. in London, with Germany's DAX down 0.06%, France's CAC 40 down 0.23%, and the U.K.'s FTSE 100 trading flat. The travel and leisure sector was up 0.59% after London's Heathrow Airport reopened on Saturday following a power outage caused by a fire at a nearby electrical substation that disrupted Friday service. British Airways owner IAG was up 0.9%. Swedish defense firm Saab was up 4.5% after UBS upgraded its stock from neutral to...
Stocks in the US kicked off the week in the green, with the S&P 500 adding 1%, the Nasdaq soaring 1.5% and the Dow Jones gaining 350 points, as traders hope the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated. Reports emerged that President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened. All sectors were in the green, but consumer discretionary, tech and communication services outperformed. Shares of Tesla soared more than 5% and other megacaps were also...
The STOXX 50 was up 0.8% and the STOXX 600 soared 0.6% on Monday, rebounding from Friday's losses, as traders hope the new US tariffs set to take effect on April 2nd could be softer and more targeted than initially anticipated. Reports emerged that President Donald Trump's coming wave of tariffs is poised to be more targeted than the barrage he has occasionally threatened.Meanwhile, traders were also digesting fresh PMI data, with figures for France beating forecasts while in Germany, both composite and services PMIs came below forecast although the manufacturing one beat. Basic resources,...