US stock market outlook: Will S&P 500, Dow Jones, Nasdaq open in green on Monday?
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US stock market and the Wall Street's key indexes -- S&P 500 Dow Jones , and Nasdaq -- will look to continue its positive momentum throughout the week starting on April 19.Stocks have staged a massive recovery since President Donald Trump's April 2 announcement set off extreme volatility and sent stocks plunging. The benchmark S&P 500 index is up over 18 per cent from its April closing low and has erased its losses for the year.The stock market just continues to bounce back, experts told Reuters.A batch of U.S. retail earnings reports in the coming week is set to shed more light on the economic fallout from the shifting tariff backdrop and test the stock market's sharp rebound.Results in the coming week also include apparel maker Ralph Lauren and off-price retailer TJX Cos, with the various reports offering insight into a number of consumer segments, investors said.One topic of interest is whether shoppers will "trade down" to less expensive items "because people are nervous about rising prices," said JJ Kinahan, CEO of IG North America and president of online broker Tastytrade.A1. US stock market indexes are S&P 500, Dow Jones, and Nasdaq.A2. The benchmark S&P 500 index is up over 18 per cent from its April closing low and has erased its losses for the year.
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Hindustan Times
an hour ago
- Hindustan Times
Quad remains resilient. But everyone wants to be friends with China again
Quad took a significant step in its long journey to shed ambiguity and reveal its true purpose on Tuesday in Washington DC. The US, India, Japan, and Australia signed on to a joint statement that was more pointed and critical of Chinese actions in the maritime domain than in the past. Quad also categorically called out China's economic coercion, price manipulation, supply-chain disruptions, and use of non-market principles to concentrate production in critical minerals. In classic diplo-speak, the statement did all of this using the passive voice without attributing actions to the agent. Trump, to lend retrospective coherence to a badly thought out tariff policy, made it all about China in April. (REUTERS) To be sure, each edition of Quad has witnessed the introduction of a more critical nuance against Beijing and an additional layer of tech, economic, or security cooperation with the subtext of countering China. But this week's Quad meeting was much sharper in its focus. It also narrowed down cooperation to maritime security, economic security, critical and emerging technologies, and humanitarian assistance. The advantage of this sharp approach is that the fluff is out, and all sides are discussing real actionable items. The disadvantage is there is drastic dilution of the agenda and many valuable items of cooperation may get lost. But the Quad statement is significant because a strong diplomatic rebuke of China has become rare. Indeed, the big geopolitical picture of the moment is that China is on the geopolitical comeback trail after five years. The onset of Covid-19 in early 2020 woke the world to the dangers of opaque systems that can suppress information with globally devastating consequences. China's weaponisation of its overwhelming advantage in manufacturing awoke the world to the need for diversified supply chains. China's inroads into eastern Ladakh alerted New Delhi to the dangers of a belligerent neighbour that was willing to violate Indian sovereignty. China's continuous aggression in the East China Sea, South China Sea, and around Taiwan made the region aware of Beijing's territorial and maritime ambitions. China's predatory economics made Global South nations conscious of the downsides of Chinese development and investment flows. China's stunning technological, military, and economic strides awoke the US to its 'peer-level competitor'. Under the first Donald Trump administration, the Joe Biden administration, and under a set of Indo-Pacific leaders worried about Beijing, there was a concerted approach to take on this Chinese machine. American export controls on chips were meant to slow down China's progress. The US began building stronger countervailing coalitions in the Indo-Pacific. It encouraged plurilaterals, trilaterals, and strengthened bilaterals to shape the environment around China. The US married strategic and defence imperatives with business opportunities and innovated with new tech partnerships. It expanded its developmental, climate, and security footprint in neglected regions such as the Pacific Islands. This period saw China's internal vulnerabilities get more pronounced. Beijing's Covid-19 crackdown boomeranged. Its real estate and infrastructure-fuelled boom created a crisis. Its domestic consumption paled in comparison to its production excess. Its demographic policies generated social fissures and policy pressures. It seemed relatively friendless in the region. And theories about how China had peaked gathered traction. That 2020-2024 era of rising global estrangement with China is over. 2025 may well be the year when everyone wants to become friends with China again. The effort to construct a bridge between Euro-Atlantic and Indo-Pacific theatres has faltered. Even as Russia and China work more closely together, the US is now doing little to bridge the gap between Nato and Indo-Pacific allies and is instead pressuring both simultaneously to step up on defence. The Australian, South Korean, and Japanese heads of government decided to stay away from the Nato summit in The Hague. European countries, both collectively and separately, are seeking to cut deals with China. To many in Europe, a closer working relationship with China seems safer than putting their eggs in the unpredictable American basket. America itself is sending signals of wanting a deal with China. Trump, to lend retrospective coherence to a badly thought out tariff policy, made it all about China in April. As soon as markets responded negatively and inflationary concerns became real, he did a deal by mid-May. When the deal showed cracks and China imposed restrictions on exports of rare earths, the US showed a willingness to lift restrictions on exports and visas. Nikkei now reports that Trump is exploring a visit to China with a major business delegation. China's dependencies are real, Beijing is far more keen to do a deal than it publicly lets on, and no one is discounting either the structural rivalry or US advantages. But, in this entire episode, China has shown it has cards too and held its own to a large extent, while American vulnerabilities have become visible. And then you have China's neighbours. Despite Japan's fundamental security contradiction with China, Trump has made life so difficult for Tokyo that it cancelled a 2+2 ministerial dialogue with the US and is engaged in a public acrimonious fight on auto tariffs — any such rift plays to China's advantage. South Korea's new government is all about a more balanced approach to foreign policy compared to its pro-US conservative predecessor. Australia is struck by the Pentagon's review of the AUKUS pact and Trump hasn't even met Prime Minister Anthony Albanese. And India is sending public signals of rapprochement with China — despite China being the force behind Pakistan's military response during Operation Sindoor, India's own border tensions, the trade asymmetry that emanates from Chinese manufacturing dominance, and Beijing's efforts to construct a hostile architecture in South Asia. New Delhi's political troubles with the US due to Trump's false claims on peacemaking, mediation, and trade could only have made China happy. And in smaller countries in the region, American instruments of influence in the form of foreign aid, foreign trade, and liberal visa policy have all but gone, leaving the ground open for more Chinese presence. Neither was China about to collapse or get isolated in the past four years, nor is it about to take over the world now. But there is a shift that suits Beijing. As the next Quad chair, India's challenge is framing a credible and strong agenda that takes into account this adverse diplomatic environment. Prashant Jha is a political analyst. The views expressed are personal.
Indian Express
an hour ago
- Indian Express
Amid trade wars and conflicts, New Delhi must strengthen its associations with BRICS
The BRICS summit in Rio is happening as the global order grapples with two forms of interstate conflicts: Trade wars and regional wars. These conflicts demonstrate the international order's limitations and the existing institutions' inability to contain the crises. States are adopting myriad hedging and balancing strategies to cope with the new challenges. The US is trying to withdraw from and limit its external engagements, while other countries are joining alternative institutions to safeguard their interests. The world is at a juncture where the hegemon cannot ensure compliance of others and the successors are reluctant to provide leadership and take responsibility. Under these circumstances, emerging powers find it advantageous to group together and amplify their influence. Amid a turbulent and unpredictable world order, BRICS functions as a key instrument of a broader hedging and diversification strategy. Members view this as a critical alternative forum that provides a sense of security, status, and collective leadership. BRICS has become a coveted organisation for the Global South. It comprises 11 states with nearly 50 per cent of the global population and about 40 per cent of the global GDP. It is a heterogeneous organisation with no shared history, culture, ideology or territories. It cannot be compared with any other existing organisation given its diversity and uniqueness. Experts often compare it with the G7 because of its global outreach, but the G7 countries have identical political systems and a comparable level of development. The same cannot be said about BRICS. Because BRICS is an organisation of the non-West, it is often viewed as a challenge to the West. It is not without reason that Donald Trump threatened to slap a 100 per cent tariff on BRICS countries if they sought to develop an alternative currency. Many in the West fear that a BRICS currency would weaken the dollar. However, it must be underlined that BRICS is not in the process of developing a new currency. A common currency requires integrating financial institutions and closely coordinating industrial and agricultural policies. BRICS does not have the level of coordination needed and is not pursuing such a goal. Therefore, this Western fear is entirely misplaced. Instead, BRICS is exploring the possibility of amplifying trade in national currencies. The trade between Russia and China is carried out in national currencies. Similarly, a large part of Russia's trade with India and Brazil occurs in local currencies. These states are also trying to set up fixed reference rates for their local currencies, independent of the dollar. The extent of the impact of this process on the dollar is unclear, but BRICS states should expect new threats from the Trump administration. It would be viewed as an attempt at de-dollarisation, and President Trump cannot remain silent for long. In a recent interview, US Secretary of Commerce, Howard Lutnick, described India's association with BRICS as an irritant which rubbed America the wrong way. Nonetheless, New Delhi will continue to follow a diversified multi-engagement policy, disregarding external pressure. Prime Minister Narendra Modi will attend the Rio summit, even as Xi Jinping and Putin give it a pass. The BRICS summit in Rio De Janeiro is conspicuous for several reasons: First, following its expansion in 2024 and 2025, it would be the first time that all the members will participate. It provides an important platform for them to socialise, explore the areas of cooperation and develop an understanding of each other's concerns. Further, the BRICS membership enhances the status of new members. However, the expansion of the organisation will also pose coordination and consensus-building challenges. Second, the issue of the Israel-Iran conflict is likely to figure prominently in discussions. A few days ago, BRICS issued a joint statement condemning the Israeli attack on Iran as a violation of international law and the UN Charter. This assumes significance because India had distanced itself from a joint statement at the SCO meeting previously. In a world where states do not want to be seen taking a stand against Trump, Iran finds many supporters at the BRICS forum. Third, the expansion of BRICS has enabled greater representation of the Global South. At a time when the US is withdrawing from its global responsibilities of peace and security, climate action, the WTO and the WHO, BRICS has the opportunity to fill the vacuum and protect the interests of the Global South. BRICS can simultaneously focus on reforms in West-dominated institutions and enhanced cooperation in the South. The Rio summit will focus on the ethical use of artificial intelligence (AI), climate action, global health, reforming global governance, and peace and security. Since the Trump administration holds contrarian views on these issues, the only hope is greater cooperation among countries of the Global South. Fourth, Xi Jinping would not be present at the Rio summit. Premier Li Qiang will be representing China. Xi's absence has led to speculations of a fraying unity, strains in ties between China and Brazil and Prime Minister Lula Da Silva's invitation to PM Modi for a state dinner. It is not easy to find the real reason, but Brazil views it as a diplomatic slight. Silva's advisor Celso Amorim once stated that 'BRICS without China is not BRICS'. This would be the first time that China's president will not be present at the summit. This is surprising because Brazil has good ties with China, and PM Silva recently visited Beijing. Russia's president, Vladimir Putin, will also not participate in person because of the International Criminal Court (ICC) warrant issued against him. Finally, New Delhi must strengthen its associations with BRICS. In a world where Trump's whimsical policies send shockwaves, India needs closer ties with alternative regional powers. India lends immense credibility to the organisation and seeks to gain a lot in the future. New Delhi's strong ties with Washington should not come in the way of its associations with BRICS. PM Modi and his team will have an opportunity to sensitise the members on issues like digital inclusion, sustainable development, climate action, poverty elimination, and terrorism. In a favourable development, New Delhi has aligned its stance with other members on Israel's attack on Iran. It is likely to receive support from others on the issue of terrorism in reciprocation. The writer teaches at the School of International Studies, Jawaharlal Nehru University, Delhi. Views are personal
Mint
an hour ago
- Mint
Wall Street Live: S&P 500, Dow Jones, Nasdaq drop on weak jobs data, Tesla rises on Q2 sales
US stock indices opened lower on Wednesday on weak US private jobs data, while Tesla shares surged sharply after its second quarter sales report. At the opening bell, the Dow Jones Industrial Average fell 39.3 points, or 0.09%, to 44455.66. The S&P 500 fell 4.1 points, or 0.07%, to 6193.88, while the Nasdaq Composite dropped 18.5 points, or 0.09%, to 20184.374. ADP National Employment Report showed that US private jobs unexpectedly fell in June and job gains in May were smaller than initially thought. The weaker-than-expected jobs data fuelled expectations that the US Federal Reserve may slash interest rates sooner than expected. Fed Chair Jerome Powell on Tuesday reiterated that the central bank is taking a patient approach to further interest rate cuts. Gold prices rose on Wednesday on weak jobs data. Spot gold was up 0.3% at $3,347.59 per ounce, as of 1246 GMT. US gold futures rose 0.3% to $3,358.10. Spot silver rose 0.7% to $36.33 per ounce, platinum was up 1.9% to $1,375.91, while palladium gained 1.9% to $1,120.87.
