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...
The three major U.S. indexes hovered around the flatline on Wednesday as traders digested a weaker-than-expected CPI report and digested the latest developments in the U.S.-China trade war. All major inflation measures came in below expectations, suggesting that consumers are yet to feel the impact of President Trump's tariffs, perhaps because the most severe duties are still on hold or because businesses are still absorbing the extra costs. The data bolstered views that the Fed could cut interest rates twice this year. Meanwhile, President Trump said a trade deal with China was done....
The Hang Seng rose 184 points, or 0.8%, to close at a nearly three-month high of 24,349 on Wednesday, recovering from a slight decline in the previous session while extending its upward momentum since early June amid broad sector strength. Optimism grew over progress in U.S.-China trade talks, although further details on an agreed framework were awaited. Significant gains in mainland stocks also lifted sentiment, helping offset a mild decline in U.S. futures ahead of key inflation data. In corporate news, Chinese automakers pledged to shorten supplier payment terms amid an escalating price...
European shares were subdued on Wednesday ahead of a crucial inflation report out of the U.S., while investors assessed the impact of a potential U.S.-China agreement on the trade war. The pan-European STOXX 600 was up 0.1% at 553.85 points at 0705 GMT. Late on Tuesday, U.S. and Chinese officials said they had agreed on a framework to put their trade truce back on track and remove China's export restrictions on rare earths, and remove some from the U.S. The agreement will be taken back to the leaders of the two countries for approval. In Europe, carmakers that would benefit from the...
Japan stocks were higher after the close on Wednesday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 added 0.49%. The best performers of the session on the Nikkei 225 were SUMCO Corp. (TYO:3436), which rose 10.51% or 104.00 points to trade at 1,094.00 at the close. Meanwhile, Isetan Mitsukoshi Holdings Ltd. (TYO:3099) added 5.74% or 128.00 points to end at 2,358.00 and Tokyo Electron Ltd. (TYO:8035) was up 4.80% or 1,140.00 points to 24,880.00 in late trade. The worst performers of the session were Hino Motors, Ltd....
The Hang Seng Index initiated the day by rising 28 points to 24,191 points, currently showing a 60-point increase or 0.25%, reaching 24,223 points. Concurrently, the H-share index climbed by 29 points or 0.33%, reaching 8,796 points, and the technology index saw a gain of 26 points or 0.48%, reaching 5,418 points. In the tech sector, stocks demonstrated overall stability, with Tencent rising by 0.4%, Alibaba by 1.1%, Meituan by 0.4%, Xiaomi Group by 0.6%, and Kuaishou witnessing a slight decline of 0.1%. Across the financial domain, individual movements were observed, notably with HSBC...