US stocks rallied on Monday (July 21), with the S&P 500 and Nasdaq hitting new record highs as a strong start to the earnings season overshadowed concerns about impending tariffs. The Dow Jones Industrial Average rose more than 200 points, driven by solid gains in leading tech stocks like MetaTrader, Amazon, and Alphabet. So far, more than 85% of S&P 500 companies that have reported earnings have beaten expectations, fueling optimism despite rising market valuations. Verizon shares jumped more than 4% after its earnings beat expectations, while Block's surged more than 8% after news...
Stocks declined Friday after President Donald Trump ramped up his trade fight again, slapping a tariff on Apple for foreign-made iPhones and recommending new stiffer duties on the European Union. The Dow Jones Industrial Average lost 284 points, or 0.7%. The S&P 500 shed 0.8%, and the Nasdaq Composite dropped 1%. Apple shares shed more than 2% after Trump posted on Truth Social that iPhones sold in the U.S. must be made in the U.S. and if they are not "a tariff of at least 25% must be paid by Apple." The move against Apple by Trump is the first against a specific company in his tariff...
The Hang Seng rose 57 points or 0.24% to close at 23,601 on Friday, rebounding from sharp losses in the prior session amid gains in financials. Sentiment improved after the PBoC injected CNY 500 billion into the system through its one-year lending facility. The central bank also lowered the cap on deposit rates to support bank profitability and encourage spending over saving. For the week, the index added 1.1%, marking its sixth straight weekly rise—the longest streak since February—boosted by strong IPO momentum. Meanwhile, Beijing and Washington remained in high-level contact during a...
Japan stocks were higher after the close on Friday, as gains in the Real Estate, Banking and Textile sectors led shares higher. At the close in Tokyo, the Nikkei 225 gained 0.42%. The best performers of the session on the Nikkei 225 were Japan Steel Works Ltd (TYO:5631), which rose 10.05% or 590.00 points to trade at 6,463.00 at the close. Meanwhile, Mitsubishi Heavy Industries, Ltd. (TYO:7011) added 5.39% or 164.00 points to end at 3,208.00 and Nintendo Co Ltd (TYO:7974) was up 5.36% or 600.00 points to 11,800.00 in late trade. The worst performers of the session were Mercari Inc...
Both the STOXX 50 and STOXX 600 edged up 0.2% on Friday, rebounding after two consecutive sessions of losses. Despite the modest gains, both indexes are on track to end the week largely unchanged, as traders await fresh catalysts amid ongoing concerns over the US fiscal outlook, which continues to unsettle global markets and push bond yields higher. On the trade front, high-level dialogue between Beijing and Washington continued, with senior officials holding a call on Thursday, an encouraging sign that both sides remain open to reaching an agreement. EU and US officials are also expected...
Hong Kong stocks rose 89 points or 0.4% to 23,627 in early trade Friday, swinging from the previous session's drop after the U.S. and China agreed to maintain open communication following a call between Chinese Vice Foreign Minister Ma Zhaoxu and U.S. Deputy Secretary of State Christopher Landau. Sentiment was also lifted by the PBoC's recent move to cut key interest rates, including those at major state-owned banks, in a step expected to prompt smaller lenders to follow suit amid shrinking net interest margins. Gains were broad-based, led by financials, tech, and consumer stocks. For the...