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...
Asia-Pacific markets open mixed on Thursday after U.S. President Donald Trump announced that the U.S. will slap a 50% tariff on Brazilian imports beginning August 1. In a letter, Trump said the new tariff — a sharp increase from the 10% rate set in April — is also meant to address what he called a "very unfair trade relationship" between the U.S. and Brazil. The steep rise is also partly in retaliation for the ongoing prosecution of the country's former president, Jair Bolsonaro, Trump added. Opening calls from sunny Singapore Good morning from Singapore! Asia-Pacific markets are set to...
US stocks closed higher on Wednesday (July 9th) as investors weighed the impact of expanding tariffs on corporate earnings and future Federal Reserve policy. The S&P 500 rose 0.6%, snapping a two-day losing streak, while the Dow rose 217 points and the Nasdaq 100 gained 0.7% after Nvidia briefly touched a $4 trillion valuation. The minutes of the Fed's June meeting revealed that officials viewed the newly announced tariffs as inflationary, leading them to delay further interest rate cuts earlier this year. The release came shortly after President Trump expanded the list of countries...
The European stock markets closed higher in Wednesday trading as the Stoxx Europe 600 rose 0.73%, Germany's DAX advanced 1.30%, the FTSE 100 was up 0.15%, France's CAC 40 increased 1.44%, and the Swiss Market Index gained 0.30%. In corporate news, British oil and gas giant BP said Wednesday that it reached an agreement to sell its mobility and convenience and BP pulse businesses in the Netherlands, which includes 300 fuel retail sites and 15 electric vehicle charging hubs, to Catom. Pharmaceutical company Merck said Wednesday that it has agreed to acquire UK-based biopharmaceutical company...
Wall Street's main indexes opened higher on Wednesday, as investors shrugged off President Donald Trump's aggressive tariff moves and kept a close watch on negotiations with global trade partners. At 9:31 a.m. ET, the Dow Jones Industrial Average opens new tab rose 177.94 points, or 0.40%, to 44,418.70, the S&P 500, opens new tab gained 25.54 points, or 0.41%, to 6,251.06 and the Nasdaq Composite, opens new tab gained 118.04 points, or 0.58%, to 20,536.50. Source: Reuters
The Hang Seng lost 256 points or 1.1% to close at 23,892 on Wednesday, giving up gains from the prior session amid weak data from China. Consumer prices on the mainland edged up in June for the first time in five months, but deflation risks lingered. Meanwhile, producer prices fell the most in two years as muted demand and tariff-related uncertainties intensified price competition. Losses were broad-based, driven by falls tech, property, and consumers. Henderson Land plunged 8.6% after issuing a HKD-denominated convertible bond. Other notable laggards included Sun Hung Kai Properties...