The S&P 500 fades despite tech rally — plus, the crosscurrents driving Lilly's volatile day
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Yahoo
17 minutes ago
- Yahoo
South Korea pledges to help companies cope with higher US tariffs
By Jihoon Lee SEOUL (Reuters) -South Korea will prepare measures to help companies cope with higher U.S. tariffs and expand into new markets, the Finance Ministry said on Tuesday, as it kicked off a task force to prepare the new administration's economic policy plans. On the domestic front, the government will come up with measures to boost short-term demand, as well as financial support for mid- to long-term technology development to enhance market competitiveness, it said in a statement. South Korea reached a trade deal with the U.S. last week, just days before President Donald Trump's threatened 25% tariff rate was due to come in on its exports to the United States. The trade deal set tariffs on exports from the Asian country at 15%, still higher than a baseline 10% rate and the near zero tariffs for exports under a Korea-U.S. free trade agreement. Still, topics left unresolved by the deal provide scope for more disputes as the two countries prepare for a summit between Trump and new South Korean President Lee Jae Myung in the coming weeks. Trump may use the summit to try to squeeze more concessions on areas such as defence costs and corporate investments, left out of the deal, while non-tariff barriers and currency could prove thorny issues, experts said. South Korea's Finance Ministry, however, sought to give a positive spin on the agreement. The deal reduced uncertainty over the trade environment, while a $350 billion investment package included in the deal will provide new business opportunities for companies, deepen economic cooperation between the two countries, and contribute to a more stable supply chain, the ministry said. The administration of President Lee also plans to prepare policy measures to foster new industries, such as artificial intelligence, semiconductors and "K-contents" and include them in economic growth strategies and budget plans due to be announced later this month. K-contents refers to a range of cultural and entertainment goods produced by the country ranging from K-pop to Korean dramas that have boomed globally. The ministry vowed to bring regulatory improvements to vitalise business activity, as it kicked off a meeting with the country's major business groups. Asia's fourth-largest economy grew in the second quarter at the fastest pace in more than a year on rebounding consumer spending and a surge in technology exports, but still faces headwinds from slowing global trade amid the sweeping tariffs. The International Monetary Fund last week raised its outlook for most advanced and emerging economies this year based on developments around U.S. tariff negotiations, but South Korea was among the exceptions, with its 2025 growth forecast revised down to 0.8% from 1.0%.
New York Times
17 minutes ago
- New York Times
Trump Has Soured on Putin. Putin Couldn't Care Less.
President Trump has not scared the Russian elite. Last week, he declared himself 'disappointed' with Vladimir Putin and imposed a shorter deadline — expiring this Friday — for an end to the war in Ukraine, threatening severe economic punishment if it was missed. In Moscow, no one took it seriously. After weathering more than three years of sanctions, the Kremlin believes it can handle anything thrown at it — that's if Mr. Trump even follows through, which many in Moscow doubt. But there's a deeper reason for the dismissive response. Mr. Putin has, according to Kremlin insiders I talked to, concluded that negotiating with the United States makes no sense and that compromise is pointless. Hostility, not friendship, is the policy. The imminent visit to Moscow of America's envoy for peace missions, Steve Witkoff, won't change that. Mr. Trump may have soured on Mr. Putin, but Russia's president couldn't care less. Six months ago, things were very different. When Mr. Trump returned to the presidency, many in Moscow hoped that a thaw in U.S.-Russia relations might be possible. Along with friendly public remarks from both presidents and negotiations in Saudi Arabia, there were other encouraging signs of détente. Russian propagandists refrained from criticizing the new American administration or Mr. Trump personally, apparently under orders from the Kremlin. (President Emmanuel Macron of France became the main target of attacks instead.) Soon, American businessmen began showing up in Moscow, calling themselves sponsors of Mr. Trump's campaign. They claimed that sanctions would be lifted and even that the president still dreamed of building a Trump Tower in Moscow. The Russian officials and entrepreneurs I spoke to were wary, but they wanted to believe that peace was possible and that Mr. Trump might persuade Mr. Putin to end the war. It seemed as if the dream of renewed cooperation with America might come true. It quickly became clear that this was wishful thinking. Everyone now realizes that Mr. Putin has no desire to end the war, which remains his main tool for controlling society. Worse, he has lost faith in the very idea of reaching agreements with the United States. According to the people I talked to, his view is that any American administration, by definition, is temporary — and so any deal with it is meaningless. Mr. Trump is in charge today, but in three years he might not be. Personal rapport means nothing. To Mr. Putin, it is no longer possible to build a working relationship with America. Kremlin propagandists sense the honeymoon is coming to an end. They're still avoiding direct attacks on Mr. Trump himself, but they're going after those around him. Senator Lindsey Graham, in particular, has been singled out as a 'Russophobic' extremist, especially after he suggested that Mr. Putin should 'call the Ayatollah' to ask what would happen on Day 51 after Mr. Trump's first ultimatum. On a recent episode of the flagship political talk show on the state-owned Russia-1, the host shouted into the camera: 'What are you croaking about? You'll be destroyed along with your America, and no one will even remember your name.' Want all of The Times? Subscribe.
Yahoo
25 minutes ago
- Yahoo
Earnings To Watch: Bio-Techne (TECH) Reports Q2 Results Tomorrow
Life sciences company Bio-Techne (NASDAQ:TECH) will be reporting results this Wednesday before market open. Here's what investors should know. Bio-Techne met analysts' revenue expectations last quarter, reporting revenues of $316.2 million, up 4.2% year on year. It was a mixed quarter for the company, with an impressive beat of analysts' EPS estimates. Is Bio-Techne a buy or sell going into earnings? Read our full analysis here, it's free. This quarter, analysts are expecting Bio-Techne's revenue to grow 2.9% year on year to $314.9 million, improving from the 1.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.50 per share. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Bio-Techne has missed Wall Street's revenue estimates five times over the last two years. Looking at Bio-Techne's peers in the research tools & consumables segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Mettler-Toledo delivered year-on-year revenue growth of 3.9%, beating analysts' expectations by 2.9%, and Thermo Fisher reported revenues up 3%, topping estimates by 1.6%. Mettler-Toledo traded down 3% following the results while Thermo Fisher was up 11.3%. Read our full analysis of Mettler-Toledo's results here and Thermo Fisher's results here. The euphoria surrounding Trump's November win lit a fire under major indices, but potential tariffs have caused the market to do a 180 in 2025. While some of the research tools & consumables stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 3.3% on average over the last month. Bio-Techne is up 6.3% during the same time and is heading into earnings with an average analyst price target of $66.50 (compared to the current share price of $54.80). Today's young investors likely haven't read the timeless lessons in Gorilla Game: Picking Winners In High Technology because it was written more than 20 years ago when Microsoft and Apple were first establishing their supremacy. But if we apply the same principles, then enterprise software stocks leveraging their own generative AI capabilities may well be the Gorillas of the future. So, in that spirit, we are excited to present our Special Free Report on a profitable, fast-growing enterprise software stock that is already riding the automation wave and looking to catch the generative AI next. StockStory is growing and hiring equity analyst and marketing roles. Are you a 0 to 1 builder passionate about the markets and AI? See the open roles here. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
