S&P 500, Nasdaq open higher; Dow falls as UnitedHealth, IBM, Honeywell weigh
ADVERTISEMENT The Dow Jones Industrial Average fell 233.9 points, or 0.52%, at the open to 44776.41. The S&P 500 rose 9.7 points, or 0.15%, to 6368.6, while the Nasdaq Composite rose 63.8 points, or 0.30%, to 21083.818.
(You can now subscribe to our ETMarkets WhatsApp channel)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
38 minutes ago
- Time of India
‘He knew where to hit us': Did Trump strongarm EU into signing trade deal? Steep price for shaky peace
The United States and the European Union have averted a full-scale trade war, but the price of peace is steep. In a high-stakes, hastily arranged meeting at President Donald Trump's golf resort in Turnberry, Scotland, Trump and European Commission President Ursula von der Leyen announced a trade deal that will impose a 15% baseline tariff on most EU goods entering the US: a compromise designed to stave off Trump's threatened 30% tariff if no agreement had been reached by August 1. Tired of too many ads? go ad free now Trump hailed the agreement as 'the biggest-ever,' while von der Leyen called it 'the best we could get.' But behind the triumphant rhetoric lies a deal many in Brussels quietly acknowledge as a strategic retreat. A deal under pressure The deal, struck in under an hour, came after months of threats, stalled talks, and tariff escalations that rattled European markets and unnerved EU leaders. According to CNN, the US president had threatened tariffs as high as 50%, pushing the EU to the negotiating table under mounting economic pressure and fears of NATO destabilisation. Trump's administration insisted on a 15% blanket tariff, covering cars, semiconductors, pharmaceuticals, and more. Although von der Leyen claimed some strategic products such as aircraft, select chemicals, and agricultural goods would see zero tariffs, many sectors remain exposed. The AP reported that energy and defence purchases sweetened the deal — with the EU agreeing to spend $750 billion on US energy and invest a further $600 billion in American industries. Yet steel and aluminium will still be hit with 50% tariffs. Trump was blunt: 'Steel stays the way it is.' Von der Leyen maintained that a quota system would eventually moderate those terms, but no final text has been released. EU countries must now ratify the agreement. Ireland said it 'regrets' the baseline tariff, and Germany's powerful BDI industry group warned of 'considerable negative repercussions.' The VCI chemicals association simply called the tariffs 'too high.' Tired of too many ads? go ad free now As CNN noted, while markets responded positively with the Dow rising 0.3% few in Europe are celebrating. Europe's pain threshold — and trump's street fight Multiple reports, including from Financial Times and BBC, paint a picture of a bloc outmanoeuvred. Trump's early-April 'Liberation Day' tariffs sent markets reeling, forcing Brussels to suspend retaliation and enter talks under duress. FT reported that EU diplomats believe the bloc's fragmented stance — especially Germany's desire to shield its car industry — prevented a stronger response. One EU diplomat told FT, 'He's the bully in the schoolyard and we didn't join others in standing up to him.' Former Commission negotiator Georg Riekeles said the EU 'would have been better off answering the US vigorously in April in a one-two combo with China.' The Commission had originally drawn up a strategy to offer purchases and tariff reductions. But the Trump administration moved faster, levying 25% tariffs on steel, aluminium, and vehicles. Meanwhile, internal divisions saw some states pushing for tough retaliation and others urging caution. Irish Trade Minister Simon Harris was reportedly a vocal advocate for protecting Irish pharmaceuticals and spirits, according to FT. The Trump camp saw opportunity in these divisions. He rejected a July proposal for a 10% 'reciprocal' tariff, demanding instead 15% across the board. As BBC pointed out, Trump viewed the EU as exploiting US openness while restricting access to its own markets — a sentiment echoed by his claim that the union was 'nastier than China.' Symbolic win? The final deal delivers predictability and avoids escalation — but at a cost. Most European exports now face higher tariffs than under the previous regime, where the US average was around 1.6%, FT found. The 15% rate, while lower than Trump's threats, is still a substantial barrier and could erode the EU's export competitiveness. Car manufacturers are particularly exposed. Volkswagen has already taken a $1.5 billion hit this year, and Mercedes-Benz warned of 'significant increases' in US prices. While Trump said pharmaceuticals were not part of the deal, von der Leyen later insisted they were 'on a separate sheet of paper' — hinting at continuing negotiations. Still, there's relief that a deeper trade war was averted. BBC noted that Brussels' chief concern was avoiding Trump's wrath spilling over into security cooperation, especially in Eastern Europe and Ukraine. The EU is now betting that stability is worth the compromise. In Trump's words: 'This was the big one.' For von der Leyen and EU officials, the deal may mark not a victory, but the moment the US president 'worked out exactly where our pain threshold is.'
&w=3840&q=100)
Business Standard
2 hours ago
- Business Standard
TCS stock on verge to break this 16-year-old trend; can crash another 16%
TCS stock slipped 1.7 per cent to a low of ₹3,082 in intra-day trade on Monday, a day after the company said it would l ay-off 2 per cent or 12,260 employees of its global workforce. The job cuts by India's largest IT services company highlights the extent of challenges faced by technology-sector amid a sluggish global economy, geopolitical tensions and tariff concerns. Globally, Microsoft, IBM, Intel and Meta too have reduced head counts in the calendar year 2025 thus far. READ MORE On the earnings front, earlier this month, TCS reported a 6 per cent year-on-year (YoY) growth in net profit at ₹12,760 crore for Q1FY26 as against ₹12,040 crore in Q1FY25. Revenue from operations increased by 1.3 per cent YoY to ₹63,437 crore. Post the earnings announcement, TCS management remained optimistic overall, but admitted that high single-digit growth in FY26 looks tough. TCS stock performance thus far in 2025 TCS stock has been an under-performer so far in the calendar year 2025. The stock has dropped 22 per cent in the first seven months of the year, slightly more than the sectoral Nifty IT index - which has declined 18.3 per cent. In comparison, the NSE Nifty 50 has gained nearly 5 per cent in the same period. ALSO READ | Will Nifty end July above or below 25,000? These 3 key factors to set trend In July alone, the stock has declined over 10 per cent; while the Nifty IT has shed 9 per cent, and the Nifty 50 index was down around 3 per cent. Technical outlook on TCS stock Tata Consultancy Services (TCS) Current Price: ₹3,092 Likely Target: ₹2,590 Downside Risk: 16.2% Support: ₹3,100; ₹2,900; ₹2,750 Resistance: ₹3,212; ₹3,388 Following a sharp fall at the counter, TCS stock is now on verge of breaking a key 16-year bullish trend, as per the monthly scale. Historical chart shows that TCS stock has consistently traded above its super trend line support on the monthly scale since the breakout in July 2009. Even during the Covid-19 related panic sell-off, the stock briefly dipped below this key long-term trend line support, but eventually managed to close above the same on a monthly closing basis in March 2020. Today, July 28, 2025, for the first time since March 2020, TCS is once again trading below the monthly trend line support, which stands at ₹3,121. A monthly close below the same shall signal the end of the 16-year bullish run for the stock. The monthly chart further stocks presence of some support around ₹3,100 levels, which is the lower-end of the Bollinger Bands. Break and sustained trade below the same can accentuate the fall at the counter. The next key support for TCS, as per the monthly chart, stands around ₹2,590 levels - the 100-Month Moving Average (100-MMA). This implies a downside risk of around 16.2 per cent from present levels. Intermediate support for the stock can be anticipated around ₹2,900 and ₹2,750 levels. TCS stock is seen trading below the key moving averages on the daily and weekly charts; thus indicating presence of multiple overhead resistances. The near-term bias is likely to remain bearish as long as the stock trades below 3,212 levels; while the key medium-term hurdle stands at 3,388 levels.
Fibre2Fashion
2 hours ago
- Fibre2Fashion
Bangladesh's economic outlook stable; revenue generation too low: S&P
Bangladesh's fiscal deficit will hold roughly stable over the next three years at about 4.6 per cent of the gross domestic product (GDP), according to S&P Global Ratings, which recently said the country's net general government debt remains moderate. It estimates that the net general government debt will average about 35 per cent of the GDP till fiscal 2027-28 (FY28). However, the country's public interest burden is high, at about 26 per cent of revenues. Bangladesh's fiscal deficit will hold roughly stable over the next three years at about 4.6 per cent of the GDP, S&P Global Ratings has said. The country's net general government debt remains moderate. Though its economic outlook stable, revenue generation is critically low as a share of the economy. The real growth rate per capita will remain quite strong compared to that of the country's peers. Following improvements in Bangladesh's official foreign-exchange reserves, S&P Global Ratings recently affirmed the country's long-term sovereign credit rating at B+ and short-term rating at B, while calling its economic outlook stable. This reflects the real growth rate per capita will remain quite strong compared to that of the country's peers, it noted. The macroeconomic policies enacted over the past 18 months, such as transitioning to a more flexible exchange rate regime, allowing the local currency to depreciate, and tightening the monetary policy, are helping build foreign exchange liquidity, it said in a note. But the country faces heightened trade risk from relatively high US tariffs, it cautioned. The country's real economic growth rate, which decelerated meaningfully over the past two years, may pick up the pace if political and external stability solidifies over the next 12 months, according to the rating agency. It said annual growth should accelerate to about 6.1 per cent in the next three years if these conditions materialise as the economy bounces back from the 2024 political crisis. Bangladesh's uncertain political landscape may constrain the effectiveness of its institutions and policy certainty in the near term until a more lasting solution emerges, it observed. The US tariff rate of 35 per cent, which will potentially apply to Bangladeshi imports from August 1, could affect labour market conditions if the two countries fail to reach a more effective agreement, S&P Global Ratings said. Modest per capita income, which it estimates at about $2,620 in the fiscal year ending in June 2025, remains one of the main constraints for Bangladesh's rating. It also said Bangladesh's interest burden is elevated, especially relative to the government's very low revenue collection. Besides, the country relies entirely on official bilateral and multilateral partners for its foreign currency borrowing, which partially mitigates risks to its debt profile. Monetary and external policy reforms undertaken by the Bangladesh Bank are helping restore the country's external stability, it said. Bangladesh's narrow revenue base constrains the government's flexibility to provide fiscal support in times of stress, it noted. Revenue generation remains critically low as a share of the economy and when benchmarked against other sovereigns, it added. Fibre2Fashion News Desk (DS)
