US stocks rallied on Wednesday (July 23), driven by optimism over a new trade agreement and strong corporate momentum. The S&P 500 rose 0.8% to a new record high, while the Nasdaq gained 0.7%. The Dow Jones Industrial Average surged 505 points, nearly reaching its own record high. The market welcomed news of a finalized trade deal between the US and Japan that includes reciprocal tariffs of 15%, with President Trump signaling similar progress in negotiations with the European Union. Reports suggesting a US-EU deal is nearing completion, mirroring Japan's framework, further boosted...
Shares in Hong Kong soared 394 points or 1.8% to 21,685 in early trade on Wednesday, swinging from a 1.0% fall in the previous session amid solid gains across sectors. The Hang Seng touched its highest level in four months following a pledge from China's cabinet to spur spending and lure foreign investment ahead of an annual legislative gathering in March. In the US, Fed Chair Powell told Congress on Tuesday that the central bank is in no rush to cut borrowing costs and that it would be unwise to speculate on tariff policy at this time. Capping further gains was news that US President Trump...
The Nikkei 225 Index rose 0.25% to 39,900, while the broader Topix Index slipped 0.2% to 2,725 in mixed trading on Wednesday, as Japanese stocks struggled for direction following a one-day holiday. Market sentiment was influenced by mixed results on Wall Street, amid President Trump's latest tariff escalation and Federal Reserve Chair Jerome Powell's comments suggesting the central bank is in no rush to cut interest rates further. In Japan, investors turned their attention to upcoming economic data, with machinery tool orders due Wednesday and producer inflation data expected Thursday. Among...
Asia-Pacific markets opened mixed Wednesday after Federal Reserve Chair Jerome Powell signaled there was no urgency to cut rates. Powell on Tuesday re-emphasized the central bank's focus on curbing inflation and signaled that policymakers were not in a rush to push interest rates lower. Australia's S&P/ASX 200 traded around the flatline. Japan's Nikkei 225 rose 0.71% after resuming trading following a holiday, while the Topix added 0.22% at the open. South Korea's Kospi slid 0.21% while the small-cap Kosdaq lost 0.36%.Hong Kong's Hang Seng index futures were at 21,551, also stronger...
The S&P 500 posted a slight gain on Tuesday as investors digested cautious comments from Federal Reserve Chairman Jerome Powell on interest rates. Concerns persisted over the direction of the economy amid U.S. tariffs and a possible escalation of the global trade war. The S&P 500 rose 0.03% to close at 6,068.50, while the Nasdaq Composite fell 0.36% to close at 19,643.86. The Dow Jones Industrial Average rose 123.24 points, or 0.28%, to 44,593.65. Apple rose 2.2% after The Information reported that the company is partnering with Alibaba to develop AI features for iPhone users in...
Stock futures in the US were mostly lower on Tuesday, with contracts on the S&P 500 losing 0.3%, the Dow Jones declining 90 points, and the Nasdaq 100 falling 0.5%, as traders digested the latest tariff news and awaited Fed Chair Powell's testimony to Congress for further insights into the Fed's plans for the year, as well as comments on inflation and trade policy from the new administration. President Trump has signed an executive order imposing a 25% tariff on steel and aluminum imports with no exceptions or exemptions. Shares of steel and aluminum producers rose in premarket trading,...