The S&P 500 briefly touched an all-time high before hovering flat in the afternoon session, while the Nasdaq dipped 0.2% as investors weighed strong economic data against latest batch of corporate earnings. The Dow Jones, on the other hand was down over 200 points, dragged down by a nearly 3% slide in American Express shares. Meanwhile, Netflix shares slipped 4.8%, despite the company beating expectations on both revenue and earnings per share. Conversely, Charles Schwab added 2.1% after upbeat earnings and revenue and Chevron was up 1.5% as the company completed the $53 billion Hess...
European stocks were little changed on Monday, with the STOXX 50 holding near 5,300 and the STOXX 600 flat at 541, as investors assessed new developments in US trade policy. President Trump is expected to send about a dozen formal tariff warning letters later today, although it was unclear whether EU countries would be included, while saying there would be an additional 10% levy on countries that side with the BRICS bloc. Meanwhile, Trade Secretary Howard Lutnick confirmed that a broader package of tariffs, originally set for a July 9 launch, will now be delayed until August 1. Oil-related...
Japanese stocks fell in tense trading after U.S. President Donald Trump said tariff letters would begin to be sent out at noon Monday. Trump also said he would impose an additional 10% tariff on any country that aligns with the "anti-American BRICS policies." The Topix index fell 0.6% to 2,811.72 at the close in Tokyo. The Nikkei fell 0.6% to 39,587.68. Mitsubishi UFJ Financial Group Inc. was the biggest contributor to the Topix decline, down 2.3%. Exporters including electrical equipment and transportation equipment fell, while financials also fell amid economic uncertainty. Japan's...
The Hang Seng Index opened lower by 87 points or 0.36%, settling at 23,828 points; the H-share index fell by 32 points or 0.37%, reaching 8,576 points; while the technology index dropped by 23 points or 0.45%, closing at 5,192 points. Tech stocks exhibited a general softening trend, with Tencent down by 0.3%, Alibaba by 1%, Meituan by 1.1%, Xiaomi Group by 1%, and Kuaishou up by 0.9%. In the financial sector, stocks trended downwards, with HSBC Holdings showing no change; AIA Group declining by 0.7%; Ping An Insurance falling by 0.4%; and Hong Kong Exchanges and Clearing dropping by...
European equities turned red as investors began taking on board the risk of U.S. tariffs being snapped back on again. The Stoxx Europe 600 index fell by 0.5%. Regionally, while the U.K.'s FTSE 100 was flat, France's CAC 40 and Germany's DAX ended 0.8% and 0.6% lower, respectively. The British pound also gave up some of the gains from earlier in the session as one Bank of England official called for a more aggressive schedule of interest rate cuts this year. The head of pan-Scandinavian airline SAS told CNBC that European airline consolidation "needed a second phase," after Air France-KLM...
The Hang Seng lost 154 points or 0.6% to close at 23,916 on Friday, marking the second straight session of losses amid broad-based sector declines. The benchmark dropped 1.5% for the week, reversing gains from the prior period as investors grew cautious ahead of U.S. President Trump's July 9 tariff deadline. Adding pressure, China's commerce ministry finalized its EU brandy investigation, imposing tariffs of up to 34.9% for five years starting July 5. Market participants also eyed key Chinese data due next week—including June CPI and PPI amid lingering deflation risks. U.S. markets were...