Wall Street rises after US-Japan trade deal announced
The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent.
In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high.
Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks.
As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement.
However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods.
"The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs.
Tesla and Alphabet are set to report after the bell on Wednesday.
With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment.
In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit.
Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty.
The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent.
Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast.
A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory.
The company's stock dropped despite beating quarterly profit estimates.
In US economic data, existing home sales numbers for June are due on the day.
Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties.
Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week.
Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool.
The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates.
Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq.
The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms.
The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent.
In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high.
Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks.
As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement.
However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods.
"The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs.
Tesla and Alphabet are set to report after the bell on Wednesday.
With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment.
In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit.
Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty.
The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent.
Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast.
A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory.
The company's stock dropped despite beating quarterly profit estimates.
In US economic data, existing home sales numbers for June are due on the day.
Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties.
Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week.
Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool.
The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates.
Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq.
The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms.
The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent.
In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high.
Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks.
As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement.
However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods.
"The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs.
Tesla and Alphabet are set to report after the bell on Wednesday.
With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment.
In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit.
Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty.
The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent.
Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast.
A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory.
The company's stock dropped despite beating quarterly profit estimates.
In US economic data, existing home sales numbers for June are due on the day.
Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties.
Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week.
Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool.
The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates.
Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq.
The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
Wall Street has climbed after US President Donald Trump secured a trade deal with Japan, sparking optimism for a flurry of new agreements as the August 1 deadline looms.
The pact will slash tariffs on the Japanese car sector to 15 per cent from 27.5 per cent, with duties on other goods also dropping to 15 per cent from 25 per cent.
In early trading on Wednesday, the S&P 500 gained 20.11 points, or 0.31 per cent, to 6,329.73, the Nasdaq Composite gained 39.71 points, or 0.19 per cent, to 20,932.40 and the Dow Jones Industrial Average rose 215.38 points, or 0.48 per cent, to 44,717.82 - closing in on its all-time high.
Meanwhile, Wall Street's "fear gauge," the CBOE Volatility Index, dipped to its lowest level in nearly two weeks.
As United States and European Union officials head into crucial trade talks, hopes are high for a breakthrough agreement.
However, the European Commission signalled it is ready to play hardball, preparing to seek approval for 93 billion euros ($A166 billion) in counter-tariffs on US goods.
"The United States has been working very hard on trying to get a lot of trade deals in time before the August 1st deadline, and it seems like they're starting to get some momentum. So I do think this is a very positive sign," said Chris Zaccarelli, chief investment officer at Northlight Asset Management.
Investors are now laser-focused on earnings from the "Magnificent Seven" - the market's star performers who have powered stocks to record highs.
Tesla and Alphabet are set to report after the bell on Wednesday.
With AI optimism running high and valuations stretched, expectations for these tech giants are sky-high, leaving little margin for disappointment.
In earnings-focused moves, GE Vernova's shares climbed 13.7 per cent to an all-time high, as the power equipment maker raised its current-year revenue and free cash flow forecasts after beating Wall Street estimates for second-quarter profit.
Texas Instruments tumbled 12.7 per cent after its quarterly profit forecast failed to impress investors as it pointed to weaker-than-expected demand for its analogue chips from some customers and underscored tariff-related uncertainty.
The earnings also weighed on its peer analogue chipmakers, with NXP Semiconductors, Analog Devices and ON Semiconductor falling between 3.5 per cent and 5.6 per cent.
Toymaker Hasbro slipped 2.4 per cent even after raising its annual revenue forecast.
A 1.7 per cent drop in AT&T kept the communications sector in the red, with all other sectors in positive territory.
The company's stock dropped despite beating quarterly profit estimates.
In US economic data, existing home sales numbers for June are due on the day.
Thursday's weekly jobless claims numbers and S&P Global's flash PMI data will be closely assessed to gauge economic health in the wake of tariff uncertainties.
Following a mixed set of economic data last week, traders have ruled out an interest rate cut by the Federal Reserve next week.
Odds for a September reduction stand at 58 per cent, according to the CME FedWatch tool.
The Fed's July meeting will follow on the heels of mounting concerns about its independence amid Trump's persistent attacks on chair Jerome Powell for his reluctance to cut rates.
Advancing issues outnumbered decliners by a 2.22-to-1 ratio on the NYSE and by a 1.76-to-1 ratio on the Nasdaq.
The S&P 500 posted 30 new 52-week highs and two new low while the Nasdaq Composite recorded 48 new highs and eight new lows.
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Production for the Vitara and Ignis also ended for Australia when the ADR axe fell. The current, Hungarian-built S-Cross, launched here in 2022 as a significant update of a model that entered production in 2013. Suzuki Australia had previously confirmed it would bring a hybrid version of the S-Cross to Australia in 2024, but this never eventuated. The outgoing car is still available on Suzuki Australia's website in both MY23 and MY24 guises, starting at $33,290 and $36,990 drive-away respectively. As for the Vitara, which was axed by the separate Suzuki Queensland entity, Suzuki Australia has confirmed an updated Vitara Hybrid and new electric eVitara will launch in early 2026. The latter will be Suzuki's first-ever fully electric vehicle (EV). When asked about early indications for the Vitara Hybrid, which has yet to be confirmed with either mild- or strong-hybrid power, Mr Pachota said he believes "the Australian consumers are ready for a hybrid Vitara". 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