Stocks in the US closed near the flatline on Friday as investors weighed President Trump's push for higher tariffs on the European Union against strong economic data and corporate earnings. The S&P 500 and Nasdaq 100 finished mostly muted near their records, while the Dow Jones dropped 142 points, pressured by a 2.2% decline in American Express shares. Trump reportedly demands a minimum 15-20% tariff in any deal with the EU, which is working to finalize an agreement before his August 1 deadline. On the corporate front, Netflix shares fell 5.1% despite beating revenue and earnings...
European stock markets closed higher in Tuesday trading as the Stoxx Europe 600 rose 1.11%, Germany's DAX advanced 1.60%, the FTSE 100 gained 0.01%, France's CAC 40 increased 1.04%, and the Swiss Market Index was up 1.13%. In Germany, the ifo Business Climate Index for June rose to 88.4 points in June from 87.5 points in May, indicating that companies felt slightly more positive and that the German economy is slowly gaining confidence. The reading also topped the analyst forecast of 88.1, according to Bloomberg. And in corporate news, the Spanish government cleared Banco Bilbao Vizcaya...
Stocks rose while oil prices fell on Tuesday morning, as investors bet that a delicate ceasefire between Israel and Iran would hold. The Dow Jones Industrial Average climbed 305 points, or 0.7%. The S&P 500 gained 0.7%, and the Nasdaq Composite advanced 1%. Oil prices were sharply lower for a second-straight day. U.S. crude oil slipped more than 4%, alongside international benchmark Brent. A day earlier, U.S. crude oil fell more than 7%. Airline stocks were higher as oil pulled back, with shares of United Airlines, Frontier and Delta all climbing more than 2%. Broadcom and Nvidia...
The Hang Seng soared 488 points or 2.1% to close at 24,177 on Tuesday, rising for the third session and reaching a two-week peak as all sectors advanced. Sentiment was lifted by a strong rebound in U.S. futures after President Trump announced a truce between Iran and Israel. On the policy front, Fed Vice Chair Bowman said the time to cut interest rates was nearing, citing growing risks to the labor market. Her remarks echoed Fed Governor Waller's comments on Friday, signaling a possible rate cut at the July 29–30 meeting. Investors now await Fed Chair Jerome Powell's testimony before...
The STOXX 50 jumped 1.7% and the STOXX 600 gained 1.1% on Tuesday after President Trump announced a ceasefire between Israel and Iran, which has been confirmed by both countries. If the truce holds, it would end 12 days of conflict, and send oil prices sharply lower, falling below levels seen before June 12, the day before Israel launched its attack. Meanwhile, investors turned their attention to a NATO summit starting today in The Hague, where leaders are expected to discuss security priorities given recent global tensions. Most sectors were trading in the green, with strong gains among...
The Nikkei 225 jumped 1.14% to close at 38,790 while the broader Topix index rose 0.73% to 2,781 on Tuesday, with Japanese stocks ending a three-day losing streak after U.S. President Donald Trump announced that Iran and Israel had agreed to a ceasefire. Investors largely shrugged off Iran's retaliatory attack on a U.S. military base in Qatar, which caused no casualties, and took comfort in the fact that Iran avoided targeting the critical Strait of Hormuz, easing fears of a wider disruption to global oil supplies. On the trade front, Japanese negotiator Ryosei Akazawa reportedly planned...