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CNBC
a minute ago
- CNBC
Asia markets set to open mixed after Trump vows to significantly raise tariffs on India
Bombay Gate Gateway of India, Mumbai Arutthaphon Poolsawasd | Moment | Getty Images Asia-Pacific markets are expected to open mixed after U.S. President Donald Trump announced plans to raise tariffs on Indian exports to the country significantly. "India is not only buying massive amounts of Russian Oil, they are then, for much of the Oil purchased, selling it on the Open Market for big profits," Trump wrote on social media platform Truth Social. "They don't care how many people in Ukraine are being killed by the Russian War Machine. Because of this, I will be substantially raising the Tariff paid by India to the USA," he continued. Happy Tuesday from Singapore. Asia markets are poised for a mixed open. Australia's S&P/ASX 200 was set to start the day higher with futures tied to the benchmark at 8,701, compared with its last close of 8,663.70. Japan's benchmark Nikkei 225 was set to open higher, with the futures contract in Osaka last traded at 40,610 against the index's last close of 40,290.70. However, futures for Hong Kong's Hang Seng Index stood at 24,708 pointing to a weaker open compared with the HSI's last close of 24,733.45. — Lee Ying Shan All the three major averages soared into the green on Monday, with the Dow Jones Industrial Average recouping its losses from Friday's session. The blue-chip index climbed 585.06 points, or 1.34%, to finish the day at 44,173.64. Additionally, the broad market S&P 500 and the tech-heavy Nasdaq Composite rocketed higher by 1.47% and 1.95%, ending at 6,329.94 and 21,053.58, respectively. — Sean Conlon
NBC News
a minute ago
- NBC News
Vast majority of U.S. adults stressed about grocery costs, AP-NORC poll finds
NEW YORK — The vast majority of U.S. adults are at least somewhat stressed about the cost of groceries, a new poll finds, as prices continue to rise and concerns about the impact of President Donald Trump's tariffs remain widespread. About half of all Americans say the cost of groceries is a "major" source of stress in their life right now, while 33% say it's a "minor" source of stress, according to the poll from The Associated Press-NORC Center for Public Affairs Research. Only 14% say it's not a source of stress, underscoring the pervasive anxiety most Americans continue to feel about the cost of everyday essentials. Other financial stressors — like the cost of housing or the amount of money in their bank accounts — are also broadly felt, but they weigh more heavily on younger Americans, who are less likely than older adults to have significant savings or own property. The survey also found that about 4 in 10 Americans under age 45 say they've used what are known as "buy now, pay later" services when spending on entertainment or restaurant meals or when paying for essentials like groceries or medical care. Adam Bush, 19, based in Portland, New York, is one of those younger Americans who has used pay-later services for things like groceries or entertainment. Bush works as a welder, fabricating parts for trucks for Toyota, and makes under $50,000 per year. "I just keep watching the prices go up, so I'm looking for the cheapest possible stuff," he said. "Hot pockets and TV dinners." Everyone is stressed about groceries Groceries are one of the most far-reaching financial stressors, affecting the young and old alike, the poll finds. While Americans over age 60 are less likely than younger people to feel major financial anxiety about housing, their savings, child care, or credit card debt, they are just as worried about the cost of groceries. Esther Bland, 78, who lives in Buckley, Washington, said groceries are a "minor" source of stress — but only because her local food banks fill the gap. Bland relies on her Social Security and disability payments each month to cover her rent and other expenses — such as veterinary care for her dogs — in retirement, after decades working in an office processing product orders. "I have no savings," she said. "I'm not sure what's going on politically when it comes to the food banks, but if I lost that, groceries would absolutely be a major source of stress." Bland's monthly income mainly goes toward her electric, water and cable bills, she said, as well as care of her dogs and other household needs. "Soap, paper towels, toilet paper. I buy gas at Costco, but we haven't seen $3 a gallon here in a long time," she said. "I stay home a lot. I only put about 50 miles on my car a week." According to the poll, 64% of the lowest-income Americans — those who have a household income of less than $30,000 a year — say the cost of groceries is a "major" stressor. That's compared with about 4 in 10 Americans who have a household income of $100,000 or more. But even within that higher-income group, only about 2 in 10 say grocery costs aren't a worry at all. Women and Hispanic adults are especially economically anxious Housing is another substantial source of worry for U.S. adults — along with their savings, their income and the cost of health care. About half of U.S. adults say housing is a "major" source of stress, according to the poll, while about 4 in 10 say that about the amount of money they get paid, the amount of money they have saved and the cost of health care. About 3 in 10 say credit card debt is a "major" source of stress, while about 2 in 10 say that about the cost of child care and student debt. But some groups are feeling much more anxiety about their finances than others. Women, for instance, are more likely than men to report high levels of stress about their income, savings, the cost of groceries and the cost of health care. Hispanic adults are also particularly concerned about housing costs and both credit card and student debt. About two-thirds of Hispanic adults say the cost of housing is a "major" source of stress, compared with about half of Black adults and about 4 in 10 white adults. Some people are making changes to their lifestyle as a result of high costs. Shandal LeSure, 43, who works as a receptionist for a rehabilitation hospital in Chattanooga, Tennessee, and makes between $85,000 and $100,000 a year, said she's started shopping for groceries at less expensive stores. "It's an adjustment," she said. "Sometimes the quality isn't as good." Many US adults have used 'buy now, pay later' services As they stretch limited budgets, about 3 in 10 U.S. adults overall say they've used "buy now, pay later" services such as Afterpay or Klarna to purchase groceries, entertainment, restaurant meals or meal delivery, or medical or dental care, according to the poll. Bland, the Washington state retiree, said she's paid for pet surgery with a pay-later plan. Younger Americans are much likelier than older people to have used pay-later plans for entertainment, groceries or restaurant meals, but there's no age gap on medical care. Black and Hispanic people are also especially likely to adopt the plans. An increasing share of "buy now, pay later" customers are having trouble repaying their loans, according to recent disclosures from the lenders. The loans are marketed as a safer alternative to traditional credit cards, but there are risks, including a lack of federal oversight. Some consumer watchdogs also say the plans lead consumers to overextend themselves financially. LeSure said she's used pay-later services for things like new clothes, while she balances debt payments for a car loan, student loans and medical bills. She's also turned to them to cover hotel costs after being evicted.
Yahoo
29 minutes ago
- Yahoo
Coca-Cola makes sweetener change. Is corn syrup or cane sugar healthier?
Coca-Cola will be adding cane sugar to its ingredients list after all. 'We're going to be bringing a Coke sweetened with US cane sugar into the market this fall, and I think that will be an enduring option for consumers,' Coca-Cola CEO James Quincey said on a second-quarter call with investors and analysts on July 22. The company initially declined to comment on its intentions to use cane sugar after President Donald Trump claimed it would do so in July. 'I have been speaking to Coca-Cola about using REAL Cane Sugar in Coke in the United States, and they have agreed to do so,' Trump wrote in a July 16 Truth Social post. 'I'd like to thank all of those in authority at Coca-Cola. This will be a very good move by them — You'll see. It's just better!' Coke didn't confirm the claim at the time, saying in a statement shared with USA TODAY that it would share details on new offerings soon and appreciated Trump's enthusiasm for its product. Rather than replace high-fructose corn syrup as the sweetener in its flagship line, however, the sugar will be used in a drink that 'complements' and 'expands' its product range, Quincey said in the earnings call and subsequent report. USA TODAY has reached out to Coca-Cola for comment. High-fructose corn syrup is one of the ingredients the Trump administration has pushed companies to remove from food and beverages as part of its 'Make America Healthy Again' initiative. But is cane sugar actually 'healthier' for you? Here's what to know. What is high-fructose corn syrup? High-fructose corn syrup is a viscous, sweet substance made from cornstarch. When broken down into individual molecules, it becomes corn syrup, virtually a 100% glucose product, according to the Food and Drug Administration (FDA). Enzymes are then added to make some of the glucose into fructose, another simple sugar that naturally occurs in fruits. The resulting product is higher in fructose compared to the pure glucose in plain corn syrup, hence the 'high' in the name. High-fructose corn syrup is used in a large number of processed and packaged foods. Because it is cheaper to produce and more shelf-stable than regular sugar, it is widely used in the food manufacturing industry, according to the Cleveland Clinic. What is cane sugar? Cane sugar is derived from the natural byproduct of sugarcane − a tall, perennial, tropical grass from which liquid is extracted to create sugar. Corn is in the same plant family as sugarcane, which allows for the extraction of sweetener from both. The way raw sugarcane is processed and refined determines the product it ultimately yields. It can be made into a syrup, juice or crystallized and refined further into products like white sugar, brown sugar, molasses or jaggery, according to the United States Department of Agriculture (USDA) and WebMD. Cane sugar consists of sucrose, which is one-half glucose and one-half fructose. Is cane sugar better for you than high-fructose corn syrup? Like all types of added sugar, both cane and high-fructose corn syrup can have negative health effects, like weight gain, diabetes and heart disease, if consumed in excess. The FDA says it is 'not aware of any evidence' of a difference in safety between foods containing high-fructose corn syrup and 'foods containing similar amounts of other nutritive sweeteners with approximately equal glucose and fructose content, such as sucrose, honey, or other traditional sweeteners.' Dr. Wesley McWhorter, spokesperson for the Academy of Nutrition and Dietetics, told USA TODAY that high intakes of any added sugar can cause health issues, but that our bodies break down some types differently. 'High fructose corn syrup and cane sugar are both forms of added sugar, and both contain glucose and fructose; cane sugar is sucrose, which is 50% fructose, while high fructose corn syrup typically contains about 55%,' he said. 'Your body processes them similarly, but fructose is primarily metabolized in the liver. When consumed in excess, especially from sugary drinks and other concentrated sources, fructose can promote fat accumulation in the liver, a key contributor to non-alcoholic fatty liver disease.' He hopes the conversation around Coke's change sparks a larger conversation about reducing the amount of added sugar Americans consume in general, regardless of the type. 'Long-term health isn't about swapping one sweetener for another; it's about making meaningful changes to cut added sugar and improve the overall quality of the foods we eat,' he said. This article originally appeared on USA TODAY: Cane sugar vs. high-fructose corn syrup: Which one is healthier? Solve the daily Crossword
