S&P 500, Nasdaq touch record highs after tame inflation data
A Wall Street sign hangs in front of a U.S. Flag outside the New York Stock Exchange (NYSE). REUTERS/Andrew Kelly/File Photo
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
RTHK
12 hours ago
- RTHK
US stocks end at records
US stocks end at records The records reflect improved sentiment, with the Iran-Israel ceasefire adding to positive movement on trade compared with the spring. Photo: Reuters Wall Street stocks finished at fresh records on Friday as China-US trade progress restored the market to its heights prior to a spring swoon brought by President Donald Trump's tariffs. Both the S&P 500 and Nasdaq finished at all-time highs following a roller-coaster session that included a stint in negative territory after Trump announced he was breaking off trade talks with Canada, rupturing a series of largely positive headlines on trade. The broad-based S&P 500 finished up 0.5 percent at 6,173, while the tech-rich Nasdaq Composite Index also climbed 0.5 percent to 20,273. Both represent fresh closing records. The Dow Jones Industrial Average jumped one percent to 43,819. Earlier, European stock markets also rose, with the Paris CAC 40 leading the way, boosted by a rise in luxury stocks. The records reflect improved sentiment, with the Iran-Israel ceasefire adding to positive movement on trade compared with the spring. "There is hope in the market, there may be some over-optimism around some things," said Jason Schenker of Prestige Economics. "But there was a lot of optimism." Tom Cahill, chief investment officer at Ventura Wealth Management said other trade news developments in recent days had been positive, including Beijing and Washington's confirmation on finalising a framework to move forward on trade. "The news has been incrementally more positive since April on the trade front," Cahill said. The S&P 500 last hit a record in February, but began to come under pressure thereafter as Trump began to sharpen his rhetoric on trade. This culminated with Trump's April 2 "Liberation Day" vow to implement steep new levies on trading partners. Trump has since suspended the most onerous elements of his trade overhaul, while still implementing the biggest US tariffs imposed in decades. (AFP)
RTHK
14 hours ago
- RTHK
Russia, Ukraine peace proposals contradictory: Putin
Russia, Ukraine peace proposals contradictory: Putin Russian President Vladimir Putin says Russian and Ukrainian negotiators are in constant contact. Photo: Reuters Russian President Vladimir Putin said on Friday that Russia and Ukraine's demands for peace were "absolutely contradictory", after two rounds of peace talks had failed to bring the sides closer to an elusive ceasefire. Russian and Ukrainian negotiators swapped memoranda outlining their visions for how to end the three-year conflict at peace talks in Istanbul this month. But other than large-scale prisoner exchanges, the talks have failed to result in any progress toward ending the fighting, triggered by Russia launching its military offensive in February 2022. "As for the memorandums, as expected, nothing surprising happened... these are two absolutely contradictory memorandums," Putin said at a press conference in Belarus. At talks, Russia has demanded Ukraine cede even more land and give up Western military support as a precondition to peace -- terms Kyiv says are unacceptable. Putin has repeatedly rejected calls for an immediate ceasefire and has escalated his aerial attacks as his army advances across the battlefield. He also said Russia was looking to cut its military expenditure from next year. "Next year and the year after, over the next three-year period, we are planning for this," Putin said. "6.3 percent of Russia's GDP goes on defence needs. That is 13.5 trillion rubles (US$172 billion). It's a lot," Putin said, acknowledging it had the potential to create headaches for the government budget. (AFP)
RTHK
14 hours ago
- RTHK
Rwanda, DR Congo sign peace deal in US
Rwanda, DR Congo sign peace deal in US The foreign ministers of Rwanda and the Democratic Republic of Congo sign a peace deal in Washington. Photo: Reuters Rwanda and the Democratic Republic of Congo signed a peace agreement on Friday in Washington to end fighting that has killed thousands, with the two countries pledging to pull back support for guerrillas. The two foreign ministers signed the deal brokered by the United States, Qatar and the African Union in the presence of US Secretary of State Marco Rubio. The agreement comes after the M23 rebel group, an ethnic Tutsi force widely linked to Rwanda, sprinted across the long-turbulent and mineral-rich east of the DRC earlier this year, seizing vast territory including the key city of Goma. The deal does not explicitly address the gains of the M23 but calls for Rwanda to end "defensive measures" it has taken. Rwanda has denied directly supporting the M23 rebels, but has demanded an end to another armed group, the Democratic Forces for the Liberation of Rwanda (FDLR), which was established by ethnic Hutus linked to the massacres of Tutsis in the 1994 Rwanda genocide. Rwandan Foreign Minister Olivier Nduhungirehe called the deal the "neutralisation" of the FDLR. His Congolese counterpart, Therese Kayikwamba Wagner, highlighted the agreement's promises for a respect to sovereignty. Trump has trumpeted the diplomacy that led to the deal, and publicly complained that he has not received a Nobel Peace Prize. Speaking to reporters, Trump said that the United States will be able to secure "a lot of mineral rights from the Congo". The DRC has enormous mineral reserves that include lithium and cobalt, vital in electric vehicles and other advanced technologies. (AFP)
