NYSE Content advisory: Pre-Market update + first half trade to end with S&P 500 up 5.2% this year
NEW YORK, June 30, 2025 /CNW/ — The New York Stock Exchange (NYSE) provides a daily pre-market update directly from the NYSE Trading Floor. Access today's NYSE Pre-market update for market insights before trading begins.
Kristen Scholer delivers the pre-market update on June 30
S&P coming off record close, and is up 5.2% this year
Republican-controlled Senate advances President Trump's tax cut and spending bill
Canada walks back Digital Services Tax after President Trump cuts off trade talks
Opening BellVerizon Communications Inc. (NYSE: VZ) to celebrate its 25th Anniversary of Founding.
Closing BellNIRI: The Association for Investor Relations celebrates the critical role the investor relations profession plays in our capital markets
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The Star
22 minutes ago
- The Star
S&P 500, Nasdaq close at record highs, cap best quarter in over a year
NEW YORK: The S&P 500 and Nasdaq reached record closing highs on Monday, capping their best quarter in over a year as hopes for trade deals and possible rate cuts eased investor uncertainty. Both indexes ended the quarter with double-digit gains. The S&P 500 gained 10.57% during the period, the Nasdaq rose 17.75%, and the Dow climbed 4.98%. The Russell 2000 Small Cap index rose 8.28% in the quarter. Still, the three main indexes posted their weakest first-half performances since 2022, as the uncertainty around trade policy has kept investors wary during the year, with tensions peaking after President Donald Trump disclosed widespread tariffs on April 2. Trade deals with China and the UK have fueled optimism that an all-out global trade war can be minimized, with hopes for more deals to be reached before Trump's July 9 trade deadline. The end of the quarter was also influenced by managers tweaking their portfolios to look more attractive at quarter-end. "Animal spirits seem to have taken hold here," said Roy Behren, co-president of Westchester Capital management fund. "It is also quite common for the last couple of days of a quarter to see strength because of the window dressing." On Sunday, Canada scrapped its digital services tax targeting U.S. tech firms, just hours before it was due to take effect, in a bid to advance stalled trade negotiations with the United States. But U.S. Treasury Secretary Scott Bessent warned on Monday that countries could still face sharply higher tariffs on July 9 even if they are negotiating in good faith, and any potential extensions will be up to Trump. Meanwhile, U.S. Senate Republicans will try to pass Trump's sweeping tax-cut and spending bill, despite divisions within the party about its expected $3.3 trillion hit to the $36.2 trillion national debt. Trump wants the bill passed before the July 4 Independence Day holiday. Key economic data releases this week include monthly non-farm payrolls and the Institute for Supply Management's survey on manufacturing and services sectors for June. Several U.S. central bank officials including Federal Reserve Chair Jerome Powell are scheduled to speak later this week. A raft of soft economic data and expectations that Trump will replace Powell with someone dovish have pushed up bets of rate cuts from the Fed this year. On Monday, nine of the 11 S&P indexes closed up. The Dow Jones Industrial Average rose 275.50 points, or 0.63%, to 44,094.77, the S&P 500 gained 31.88 points, or 0.52%, to 6,204.95 and the Nasdaq Composite gained 96.28 points, or 0.48%, to 20,369.73. Shares of big U.S. banks rose after most cleared the Federal Reserve's annual "stress test," paving the way for billions in stock buybacks and dividends. Leading the S&P 500 were Hewlett Packard Enterprise, up 11.1 %, First Solar up 8.8 %,and Juniper Networks up 8.45 %. "The current rally was driven by few heavyweight stocks that drove indexes up, giving the market a sense of optimism despite rising deficit and unresolved policy issues," said Cole Smead, CEO and portfolio manager of Smead Capital Management. "The stock market doesn't seem to care at all, people think this party is going to go on forever," he said. "I think this game is over. It's just a matter of when and how bad it gets." Volume on U.S. exchanges was 17.12 billion shares, compared with the 18.23 billion average for the full session over the last 20 trading days. (Reporting by Sabrina Valle in New York; Additional reporting by Sruthi Shankar and Nikhil Sharma in Bengaluru; Editing by Devika Syamnath and Matthew Lewis)
The Star
23 minutes ago
- The Star
European markets are getting difficult to ignore
Gaining ground: A view outside the London Stock Exchange. Investors are slowing their purchases of US assets and shifting more money to Europe amid concerns that Trump's programme of tariffs and tax cuts will impact earnings and stoke inflation. — AFP LONDON: European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half, the most dramatic sign of how the region's markets are staging a comeback after more than a decade in the doldrums. The rebound isn't confined to stocks: the euro is up 13% against the dollar in the six months through June. Meanwhile, the chaotic rollout of US tariffs wiped some of the shine off Treasuries. German bunds have outperformed them since April even as the government braces to issue more debt. Assets in emerging European markets like Poland and Hungary are also rallying sharply. Investors globally are slowing their purchases of US assets and shifting more money to Europe amid concern that President Donald Trump's programme of tariffs and tax cuts will impact earnings, stoke inflation and widen the budget deficit. Europe has become the big beneficiary as governments there boost spending while its central bank slashes interest rates. 'We're seeing extremely strong demand for European assets, particularly from the United States,' said Erik Koenig, who runs the EMEA equity sales desk at Bank of America Corp in London. 'While Europe has faced challenges in the past that may have held its markets back, there's now a growing confidence in its long-term potential.' For Koenig, the shifts in the United States have prompted Europe to take steps that have suddenly – and sustainably – improved its outlook. The region has had false dawns before, and the political instability and cumbersome regulations that deterred investors for years haven't fully gone away – valuations in Europe remain depressed relative to the United States. But something profound has happened, particularly after Germany removed its debt brake. Europe's biggest economy is now committed to borrow more and invest massively in defence and infrastructure after more than a decade of austerity, igniting a new sense of optimism. 'It's an exciting time to be in European markets,' Koenig said. At the European Central Bank, officials have been cutting rates aggressively, in contrast to the measured approach from the Federal Reserve. The rate differential will remain at or close to two percentage this year, based on swap market pricing. The wave of government spending, which will be funded through fresh debt sales, is expected to deliver a much-needed growth boost to the euro area. For Allianz Global Investors, one of Europe's largest asset managers, this has been a clear signal to slow its buying spree in US assets, and return to stocks and bonds at home. 'We don't feel comfortable in Treasuries anymore. We are going to the bund market,' said Greg Hirt, chief investment officer of multi-asset strategies at the firm. 'There will be more issuance in bunds because of German fiscal policy, but that is good because it makes it a more liquid market.' At the same time, the euro stands to benefit from the economic growth boost after underperforming for the past decade. The currency was headed for its longest stretch of monthly gains in eight years, and JPMorgan Chase & Co is among firms that see it reaching US$1.20 this year, up from US$1.04 at the end of 2024. Mark Nash at Jupiter Asset Management is even more bullish on regional growth. 'It wouldn't surprise me if we hit US$1.30 within around six to eight months,' he said, adding that he sees the common currency surging to US$1.40 next year, a near 20% jump from current levels. Meanwhile, low rates and stimulus measures will support corporate earnings, with both the United States and Europe estimated to provide 10% to 11% profit growth next year. European stocks trade at a 35% discount to their US peers, making for attractive valuations. — Bloomberg
The Star
23 minutes ago
- The Star
Ringgit opens stronger as US$ weakens further
KUALA LUMPUR: The ringgit extended its upward trend at Tuesday's open, buoyed by persistent weakness in the US dollar. At 8.01 am, the local currency strengthened to 4.1955/2160 against the greenback from Monday's close of 4.2060/2130. The US Dollar Index (DXY) slipped further to 96.875 as investors awaited key economic data, with the 90-day pause period approaching its end. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the yields on two- and 10-year US Treasury notes declined by one and five basis points, respectively, as expectations grew that the US Federal Reserve (Fed) may ease monetary policy in the second half of the year. "President Trump continues to assert on social media that interest rates should be lowered. This reinforces the view that the next Fed chair may adopt a more dovish stance,' he told Bernama. Meanwhile, Brent crude slipped 0.24 per cent to US$67.61 per barrel. Market attention is on the upcoming OPEC+ meeting on Sunday, where member countries are expected to raise output quotas to reclaim market share. At the open, the ringgit was mixed against major currencies but mostly higher versus its ASEAN peers. It weakened against the Japanese yen to 2.9190/9335 from 2.9156/9206, slipped versus the British pound to 5.7617/7898 from 5.7597/7693, and eased against the euro to 4.9457/9698 from 4.9290/9372. The ringgit also depreciated against the Singapore dollar to 3.3009/3176 from 3.2986/3034, but gained on the Thai baht at 12.9331/13.0059 from 12.9356/9627, strengthened against the Indonesian rupiah to 258.3/259.7 from 259.0/259.5, and firmed against the Philippine peso to 7.44/7.49 from 7.46/7.48. - Bernama
