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Yahoo
3 minutes ago
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures edge up as Trump-EU trade deal kicks off huge week in markets
US stock futures ticked up on Monday after the US and European Union struck a trade pact to lead off a packed week of Big Tech earnings, a Federal Reserve meeting, inflation data, the July jobs report, and President Trump's Aug. 1 deadline to lock in key trade deals. Dow Jones Industrial Average futures (YM=F) were up about 0.1%, while S&P 500 futures (ES=F) gained 0.2%, but both were coming off earlier premarket highs. Nasdaq 100 futures (NQ=F) put on roughly 0.4%, after the three major indexes closed Friday with gains. The US and EU have agreed on a framework deal to set Trump's tariffs on Europe's goods at a baseline 15%, compared with the 30% threatened. Trump called the pact 'the biggest of them all,' while von der Leyen said that "15% is not to be underestimated, but it is the best we could get." The news eased fears of a harmful trade war and boosted market sentiment, putting stocks on track to resume a rally that saw the S&P 500 (^GSPC) notch its fifth all-time high in a row on Friday. Read more: The latest on Trump's tariffs At the same time, hopes are rising for a US-China deal. Officials are meeting for talks in Stockholm on Monday to tackle roadblocks and to extend the existing tariff truce by three months, media reports said. Beijing currently faces an Aug, 12 due date for higher US levies, while other countries race to beat Friday's deadline. Meanwhile, Trump has frozen US tech export curbs to help the talks and efforts to set up an in-person meeting with President Xi, per the Financial Times. Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. Read more: Full earnings coverage in our live blog Beyond earnings, the Fed begins its two-day policy meeting on Tuesday, with an interest-rate decision expected Wednesday afternoon. While the central bank is expected to keep rates at 4.25%-4.50%, the watch is on for signs that policymakers are warming to a rate cut in September. It all comes alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. On the data front, inflation and labor will be in the spotlight. The July reading of the personal consumption expenditures (PCE) index, the Fed's preferred inflation gauge, is forecast to show a modest monthly and annual uptick on its release on Thursday. Also on deck: a flurry of jobs data. Tuesday's JOLTS update and Wednesday's ADP private payrolls print will set the stage for the crucial July jobs report on Friday. Fed meeting, jobs report, Big Tech earnings — and Trump's deadline: What to watch this week The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. Trending tickers: Nike, Samsung Electronics and US liquefied natural gas stocks Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Samsung to make AI chips for Tesla under $16.5 billion deal Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Oil rises with EU-US trade deal locked in Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. European stock futures rise on US-EU trade deal announcement Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. Fed meeting, jobs report, Big Tech earnings — and Trump's deadline: What to watch this week The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. The impact of President Trump's policies on the economy is about to get a lot clearer. Yahoo Finance's Josh Schafer takes a look at what to expect this week and why it matters: Read more here. Trending tickers: Nike, Samsung Electronics and US liquefied natural gas stocks Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Here are some top stocks trending on Yahoo Finance in premarket trading: Nike (NKE) shares were up over 3% before the bell on Monday after receiving an upgrade from JPMorgan (JPM), moving its rating from neutral to overweight and setting a new price target of $93, up from the previous $64. Samsung Electronics ( stock rose 6% after announcing that it had secured a 16.5 billion deal to make Tesla's next-generation AI chip. Shares in US liquefied natural gas developers surged in premarket trading on Monday, after the European Union pledged to purchase $750 billion worth of the super-cooled fuel over the next three years as part of a sweeping trade pact. NextDecade (NEXT), Venture Global (VG), and Cheniere Energy (LNG)jumped between 7% and 8.8%. Samsung to make AI chips for Tesla under $16.5 billion deal Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Samsung Electronics ( SSNLF) has landed a $16.5 billion deal to make Tesla's (TSLA) next-generation AI chip. The agreement, which runs through the end of 2033, will see the South Korean company produce the AI6 semiconductor at an upcoming plant in Texas. Shares of Tesla stepped up 1.5% in premarket trading, after its CEO Elon Musk confirmed on X that the EV maker had struck the multibillion-dollar deal. Meanwhile, Samsung's Seoul-traded stock rose almost 7% to its highest level since September. 'The strategic importance of this is hard to overstate,' Musk wrote. "The $16.5B number is just the bare minimum. Actual output is likely to be several times higher." Bloomberg reports: Read more here. Oil rises with EU-US trade deal locked in Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. Oil prices eked out gains as the US and the EU finalized details of a trade deal ahead of Trump's Aug. 1 deadline. Bloomberg reports: Read more here. European stock futures rise on US-EU trade deal announcement Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more here. Futures in European stock indexes saw positive bumps early morning Monday as the markets reacted to the announcement of a tariff deal between the US and the EU Interest in individual stocks in carmakers, luxury goods makers, and alcohol conglomerates is rising ahead of the market open Monday with those industries the most impacted by the deal. Bloomberg reports: Read more 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
Yahoo
3 minutes ago
- Yahoo
Creating realistic deepfakes is getting easier than ever. Fighting back may take even more AI
WASHINGTON (AP) — The phone rings. It's the secretary of state calling. Or is it? For Washington insiders, seeing and hearing is no longer believing, thanks to a spate of recent incidents involving deepfakes impersonating top officials in President Donald Trump's administration. Digital fakes are coming for corporate America, too, as criminal gangs and hackers associated with adversaries including North Korea use synthetic video and audio to impersonate CEOs and low-level job candidates to gain access to critical systems or business secrets. Thanks to advances in artificial intelligence, creating realistic deepfakes is easier than ever, causing security problems for governments, businesses and private individuals and making trust the most valuable currency of the digital age. Responding to the challenge will require laws, better digital literacy and technical solutions that fight AI with more AI. 'As humans, we are remarkably susceptible to deception,' said Vijay Balasubramaniyan, CEO and founder of the tech firm Pindrop Security. But he believes solutions to the challenge of deepfakes may be within reach: 'We are going to fight back.' AI deepfakes become a national security threat This summer, someone used AI to create a deepfake of Secretary of State Marco Rubio in an attempt to reach out to foreign ministers, a U.S. senator and a governor over text, voice mail and the Signal messaging app. In May someone impersonated Trump's chief of staff, Susie Wiles. Another phony Rubio had popped up in a deepfake earlier this year, saying he wanted to cut off Ukraine's access to Elon Musk's Starlink internet service. Ukraine's government later rebutted the false claim. The national security implications are huge: People who think they're chatting with Rubio or Wiles, for instance, might discuss sensitive information about diplomatic negotiations or military strategy. 'You're either trying to extract sensitive secrets or competitive information or you're going after access, to an email server or other sensitive network," Kinny Chan, CEO of the cybersecurity firm QiD, said of the possible motivations. Synthetic media can also aim to alter behavior. Last year, Democratic voters in New Hampshire received a robocall urging them not to vote in the state's upcoming primary. The voice on the call sounded suspiciously like then-President Joe Biden but was actually created using AI. Their ability to deceive makes AI deepfakes a potent weapon for foreign actors. Both Russia and China have used disinformation and propaganda directed at Americans as a way of undermining trust in democratic alliances and institutions. Steven Kramer, the political consultant who admitted sending the fake Biden robocalls, said he wanted to send a message of the dangers deepfakes pose to the American political system. Kramer was acquitted last month of charges of voter suppression and impersonating a candidate. 'I did what I did for $500,' Kramer said. 'Can you imagine what would happen if the Chinese government decided to do this?' Scammers target the financial industry with deepfakes The greater availability and sophistication of the programs mean deepfakes are increasingly used for corporate espionage and garden variety fraud. 'The financial industry is right in the crosshairs," said Jennifer Ewbank, a former deputy director of the CIA who worked on cybersecurity and digital threats. 'Even individuals who know each other have been convinced to transfer vast sums of money.' In the context of corporate espionage, they can be used to impersonate CEOs asking employees to hand over passwords or routing numbers. Deepfakes can also allow scammers to apply for jobs — and even do them — under an assumed or fake identity. For some this is a way to access sensitive networks, to steal secrets or to install ransomware. Others just want the work and may be working a few similar jobs at different companies at the same time. Authorities in the U.S. have said that thousands of North Koreans with information technology skills have been dispatched to live abroad, using stolen identities to obtain jobs at tech firms in the U.S. and elsewhere. The workers get access to company networks as well as a paycheck. In some cases, the workers install ransomware that can be later used to extort even more money. The schemes have generated billions of dollars for the North Korean government. Within three years, as many as 1 in 4 job applications is expected to be fake, according to research from Adaptive Security, a cybersecurity company. 'We've entered an era where anyone with a laptop and access to an open-source model can convincingly impersonate a real person,' said Brian Long, Adaptive's CEO. 'It's no longer about hacking systems — it's about hacking trust.' Experts deploy AI to fight back against AI Researchers, public policy experts and technology companies are now investigating the best ways of addressing the economic, political and social challenges posed by deepfakes. New regulations could require tech companies to do more to identify, label and potentially remove deepfakes on their platforms. Lawmakers could also impose greater penalties on those who use digital technology to deceive others — if they can be caught. Greater investments in digital literacy could also boost people's immunity to online deception by teaching them ways to spot fake media and avoid falling prey to scammers. The best tool for catching AI may be another AI program, one trained to sniff out the tiny flaws in deepfakes that would go unnoticed by a person. Systems like Pindrop's analyze millions of datapoints in any person's speech to quickly identify irregularities. The system can be used during job interviews or other video conferences to detect if the person is using voice cloning software, for instance. Similar programs may one day be commonplace, running in the background as people chat with colleagues and loved ones online. Someday, deepfakes may go the way of email spam, a technological challenge that once threatened to upend the usefulness of email, said Balasubramaniyan, Pindrop's CEO. 'You can take the defeatist view and say we're going to be subservient to disinformation," he said. 'But that's not going to happen.' David Klepper, The Associated Press 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
Chicago Tribune
5 minutes ago
- Chicago Tribune
As President Donald Trump shows off his golf courses for Britain's leader, crisis in Gaza looms
EDINBURGH, Scotland — President Donald Trump once suggested his golf course in Scotland 'furthers' the U.S.-U.K. relationship. Now he's getting the chance to prove it. British Prime Minister Keir Starmer is meeting Monday with Trump at a golf property owned by the president's family near Turnberry in southwestern Scotland — then later traveling to Abderdeen, on the country's northeast coast, where there's another Trump golf course and a third is opening soon. During his first term in 2019, Trump posted of his Turnberry property, 'Very proud of perhaps the greatest golf course anywhere in the world. Also, furthers U.K. relationship!' Starmer is not a golfer, but toggling between Trump's Scottish courses shows the outsized influence the president puts on properties bearing his name — and on golf's ability to shape geopolitics. However, even as Trump may want to focus on showing off his golf properties, Starmer will try to center the conversation on more urgent global matters. He plans to urge Trump to press Israel to allow more aid into Gaza and attempt to end what Downing St. called 'the unspeakable suffering and starvation' in the territory, while pushing for a ceasefire in Israel's war with Hamas. Britain, along with France and Germany, has criticized Israel for 'withholding essential humanitarian assistance' as hunger spread in Gaza. Over the weekend, Starmer said Britain will take part in efforts led by Jordan to airdrop aid after Israel temporarily eased restrictions. But British Business Secretary Jonathan Reynolds acknowledged Monday that only the U.S. has 'the leverage' to make a real difference in the conflict. Still, asked about the crisis in Gaza on Sunday night, Trump was largely dismissive — focused more on how he's not personally gotten credit for previous attempts to provide food aid. 'It's terrible. You really at least want to have somebody say, 'Thank you,'' Trump said. The president added, 'It makes you feel a little bad when you do that' without what he considered proper acknowledgement. Starmer is under pressure from his Labour Party lawmakers to follow France in recognizing a Palestinian state, a move both Israel and the U.S. have condemned. The British leader says the U.K. supports statehood for the Palestinians but that it must be 'part of a wider plan' for a two-state solution to the Israel-Palestinian conflict. Israeli strikes kill at least 36 people in Gaza, officials say, as some aid restrictions are easedAlso on Monday's agenda, according to Starmer's office, are efforts to promote a possible peace deal to end fighting in Russia's war with Ukraine — particularly efforts at forcing Russian President Vladimir Putin to the negotiating table in the next 50 days. Trump in the past sharply criticized Ukrainian President Volodymyr Zelenskyy for also failing to express enough public gratitude toward U.S. support for his country, taking a similar tack he's now adopting when it comes to aid for Gaza. The president, though, has shifted away from that tone and more sharply criticized Putin and Russia in recent weeks. On Tuesday, Trump will be at the site of his new course near Aberdeen for an official ribbon-cutting. It opens to the public on Aug. 13 and tee times are already for sale — with the course betting that a presidential visit can help boost sales. What to expect, and what not to, at the UN meeting on an Israel-Palestinian two-state solutionProtesters have planned a demonstration in Balmedie, near Trump's existing Aberdeen golf course, after demonstrators took to the streets across Scotland on Saturday to decry the president's visit while he was golfing. Starmer and Trump are likely to find more common ground on trade issues. While China initially responded to Trump's tariff threats by retaliating with high import taxes of its own on U.S. goods, it has since begun negotiating to ease trade tensions. Starmer and his country have taken a far softer approach. He's gone out of his way to work with Trump, flattering the president repeatedly during a February visit to the White House, and teaming up to announce a joint trade framework on tariffs for some key products in May. Starmer and Trump then signed a trade agreement during the G7 summit in Canada that freed the U.K.'s aerospace sector from U.S. tariffs and used quotas to reduce them on auto-related industries from 25% to 10% while increasing the amount of U.S. beef it pledged to import. Discussions with Starmer follow a Trump meeting Sunday with European Commission chief Ursula von der Leyen at his Turnberry course. They announced a trade framework that will put 15% tariffs on most goods from both countries, though many major details remain pending. The president has for months railed against yawning U.S. trade deficits around the globe and sees tariffs as a way to try and close them in a hurry. But the U.S. ran an $11.4 billion trade surplus with Britain last year, meaning it exported more to the U.K. than it imported. Census Bureau figures this year indicate that the surplus could grow. There are still lingering U.S.-Britain trade issues that need fine-tuning. The deal framework from May said British steel would enter the U.S. duty-free, but it continues to face a 25% levy. U.K. Business Secretary Jonathan Reynolds said Monday that 'negotiations have been going on on a daily basis' and 'there's a few issues to push a little bit further today,' though he downplayed expectations of a resolution. The leader of Scotland, meanwhile, said he will urge Trump to lift the current 10% tariff on Scotch whisky. First Minister John Swinney said the spirit's 'uniqueness' justified an exemption. Even as some trade details linger and both leaders grapple with increasingly difficult choices in Gaza and Ukraine, however, Starmer's staying on Trump's good side appears to be working — at least so far. 'The U.K. is very well-protected. You know why? Because I like them — that's their ultimate protection,' Trump said during the G7.
