Wall Street Live: S&P 500, Dow Jones, Nasdaq rise ahead of big earnings
At the opening bell, the Dow Jones Industrial Average rose 26.2 points, or 0.06%, to 44368.4. The S&P 500 rose 7.9 points, or 0.13%, to 6304.74, while the Nasdaq Composite rose 64.7 points, or 0.31%, to 20960.33.
In the bond market, the yield on the 10-year Treasury fell to 4.35% from 4.44% late on Friday.
Gold prices gained on Monday as the US dollar and Treasury yields eased.
Spot gold edged up 1.2% at $3,390.79 per ounce at 9:52 ET (1352 GMT). US gold futures rose 1.3% to $3,402.40.
Among other metals, spot silver gained 1.8% to $38.86 per ounce, platinum rose 2.2% to $1,453.17 and palladium was 3.5% higher at $1,284.46.
Oil prices fell on Monday, with the European Union sanctions on Russian oil expected to have minimal impact on supplies.
Brent crude futures dropped 35 cents, or 0.5%, to $68.93 a barrel by 1324 GMT.
US West Texas Intermediate crude slipped by 28 cents, or 0.4%, to $67.06.
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Time of India
33 minutes ago
- Time of India
FTA momentum: Piyush Goyal confirms Oman deal ‘almost finalised'; talks with EU, US & others also moving fast
India's Free Trade Agreement (FTA) with Oman is at an advanced stage and nearly finalised, Union Commerce and Industry Minister confirmed on Saturday. He also noted that negotiations with the European Union, United States, Peru, and Chile are progressing rapidly and making 'fast progress'. Tired of too many ads? go ad free now 'We are in negotiations at an advanced stage with Oman. It is almost finalised,' said Goyal, as per news agency ANI. A t a press conference, Goyal highlighted India's recent track record in concluding major trade agreements with developed economies. These include FTAs with Mauritius, Australia, and the four-nation European Free Trade Association (EFTA) bloc — Switzerland, Norway, Liechtenstein, and Iceland. He also spoke about the recently signed India-UK Comprehensive Economic and Trade Agreement (CETA), calling it 'very comprehensive,' with 30 chapters. The agreement, signed during Prime Minister Narendra Modi's two-day visit to the UK, is aimed at enhancing trade flows and deepening economic cooperation. According to the UK government, India's average tariffs on UK goods will drop from 15% to 3% under the new FTA, potentially boosting bilateral trade to $120 billion by 2030. "The goods and services that India provides to the world have high quality and cost competitiveness," Goyal said. He added that these FTAs underscore India's rising importance on the global economic stage. Regarding the proposed trade pact with the US, Goyal said discussions are progressing fast, with the next round of talks expected in August. As per news agency PTI, the two countries aim to finalise the first tranche of their bilateral trade agreement by fall, targeting a trade volume of $500 billion — more than double the current figure of $191 billion. Tired of too many ads? go ad free now However, trade negotiations with the US involve complex issues, particularly around agricultural and dairy products, where India has so far resisted granting duty concessions. India is also pressing for reduced tariffs on steel, aluminium, automobiles, and a range of labour-intensive sectors like textiles, gems and jewellery, and chemicals. Goyal emphasised that the government's goal is to 'expand frontiers of India's international trade' and strengthen investor confidence. 'Each [FTA] is getting its requisite attention,' he added, pointing to parallel talks with countries like New Zealand and Chile.
India.com
34 minutes ago
- India.com
Anti-India Turkey to buy 40 deadly Eurofighter jets, Erdogan's Middle East plan threatens three of India's friends due to..., the countries are...
Eurofighter Typhoon (File) Turkey has inked a preliminary deal with Britain and Germany to acquire a fleet of 40 Eurofighter Typhoon fighter jets, triggering alarm bells amongst Ankara's rivals in the Middle East, including Israel, Greece, and Cyprus. According to media reports, Ankara has signed a $5.6 billion deal to acquire the Eurofighter Typhoon, a 4.5 generation ultra-modern fighter jet, jointly developed by Germany, Britain, Italy, and Spain. Why Turkey purchased Eurofighter Typhoon fighter jets? Turkish President Recep Tayyip Erdogan wants to modernize the Turkish air force, and has made efforts to purchase F-35 fighter jets from its NATO ally, the United States. However, deal remains uncertain, primarily because of Israeli pressure and Ankara's decision to purchase the S-400 air defence system from Russia. Thus, Turkey has settled for the Eurofighter Typhoon, an advanced fighter jet in its own right, which is comparable to the French Dassault Rafale, and US' F-16 fighters. Meanwhile, Turkey move threatens the security of three of India's friends in the Middle East– Israel, Greece and Cypress. The trio have express outrage towards Germany and Britain for signing the deal with Ankara, claiming this will boost Erdogan's efforts to enforce Turkish hegemony in the volatile region. How Eurofighter Typhoon would bolster Turkey's air power? According to defense experts, the primary reason driving Turkey's purchase of the Eurofighter Typhoon jets is the fear of an aerial attack by the Israeli Air Force, akin to what they did against Iran on June 12, which triggered the 12-day Israel-Iran war. The Eurofighter fleet would give a significant power boost to the Turkish, enabling them to counter any aerial threat from Israel or other rival nations like Greece or Cyprus. Many fear than Ankara may use it air power to bully fellow NATO member Greece, with whom it has a dispute over Cyprus and a maritime border dispute over the right to extract gas in the Eastern Mediterranean Sea. However, Turkish officials say that Ankara has agreed to Germany's condition that the Eurofighter fleet will only be used under the general guidelines of NATO, which means Turkey cannot use the fighter jets against a fellow NATO member like Greece. Notably, the European Union (EU) wants a stronger Turkey to counter Russia if Moscow launches an attack on NATO countries. What's Israel's concern? Ankara's move has created an uproar in Israel with Leader of Opposition Yair Lapid attacking the Benjamin Netanyahu government for being unable to stop the deal. Lapid stated that Turkey has the largest and most powerful navy in the Middle East and now wants to match Israel in the air as well, which will endanger the security of the Jewish nation. Beyond the Eurofighter jet deal, Turkey is also working on an agreement with the US to procure 40 F-35 fighter jets. Additionally, the country is also working on the development of the indigenous 'Kaan' fifth-generation fighter jet.
The Print
an hour ago
- The Print
Rupee weakens 12 paise to settle at 86.52 against US dollar
At the interbank foreign exchange, the domestic unit opened at 86.59 and hit the lowest level of 86.63 against the greenback. The unit touched the intra-day peak of 86.47 before ending the session at 86.52, registering a loss of 12 paise from its previous closing level. A strengthening American currency overseas and foreign fund outflows further weighed on the local unit, forex traders said. Mumbai, Jul 25 (PTI) The rupee declined 12 paise to settle at 86.52 against the US dollar on Friday, tracking negative domestic equity markets and surging global crude oil prices. On Thursday, the rupee saw some initial recovery but ended the session just 1 paisa higher at 86.40 against the US dollar. Anuj Choudhary, Research Analyst at Mirae Asset Sharekhan, said the rupee weakened due to a surge in crude oil prices and weakness in the domestic markets, which also fuelled the withdrawal of foreign institutional investors. He said the rupee is expected to trade with a slight negative bias amid uncertainty ahead of the August 1 trade deal deadline and geopolitical tensions between Thailand and Cambodia. 'Traders may take cues from the durable goods orders data from the US. Investors may remain cautious ahead of the US Federal Reserve and Bank of Japan's monetary policy decisions next week. USD-INR spot price is expected to trade in a range of Rs 86.30 to Rs 86.90,' Choudhary added. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.33 per cent to 97.44. Analysts attributed the recovery in the dollar index to favourable employment data in the US. Brent crude, the global oil benchmark, went up by 0.42 per cent to USD 69.47 per barrel in futures trade, as developing trade agreements have supported the upward movement in Brent oil prices. Forex traders said the uncertainty over the India-US trade deal has been an overhang for the forex market. If the discussions fail or get delayed, Indian exporters could face fresh pressure — adding to the rupee's challenges. However, if a deal is reached, it could offer a much-needed breather. Until then, the uncertainty is likely to keep market participants cautious. Meanwhile, in the domestic equity market, Sensex crashed 721.08 points or 0.88 per cent to 81,463.09, while Nifty tanked 225.10 points or 0.90 per cent to 24,837. Foreign institutional investors (FIIs) offloaded equities worth Rs 1,979.96 crore on a net basis on Friday, according to exchange data. The latest RBI data released on Friday showed India's forex reserve declined by USD 1.183 billion to USD 695.489 billion during the week ended July 18. PTI HVA SHW This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
