Latest news with #AdamSarhan
Malay Mail
4 days ago
- Business
- Malay Mail
European and US markets slip after Trump warns of 35pc tariff on Canada, investors await next moves
NEW YORK, July 12 — European and US stock markets retreated yesterday as US President Donald Trump ramped up his trade offensive, threatening a 35-percent levy on Canada. Trump dampened earlier optimism by firing off more than 20 letters to governments outlining new tariffs if agreements are not reached by August 1. Bitcoin meanwhile pushed on with its climb, reaching an all-time high above US$118,000. The dollar was higher against its main rivals, and oil prices gained. Wall Street's three main indices fell, with both the S&P 500 and Nasdaq retreating from records. But the pullback was relatively modest, implying that many investors are taking a wait-and-see approach to Trump's latest tariff broadsides. 'We have yet to see new substantial tariffs actually be enforced,' said Adam Sarhan of 50 Park Investments, describing investors as sceptical the biggest levies will actually be enacted. A note from Oxford Economics characterized Trump's moves as 'more tariff theatrics,' while allowing that the levy on Canada produced 'jitters.' In Europe, where investors were awaiting news of Trump's new tariff level targeting the European Union, the Paris stock market dropped 0.9 percent and Frankfurt 0.8 percent. 'The fallout hasn't been more pronounced because the market still continues to view all of this as a point of negotiating leverage,' said analyst Patrick O'Hare of Trump dialled up his trade war rhetoric Thursday, warning that Canada faced a 35-percent tax, while other countries would be handed blanket tariffs of up to 20 percent, from the current 10 percent. That came after he outlined plans to impose 50-percent tariffs on copper imports, while threatening 200-percent levies on pharmaceuticals, and hit Brazil with a new 50-percent charge. The moves are the latest by the White House in a campaign it says is aimed at ending decades of the United States being 'ripped off'. Trump's initial bombshell tariffs announcement in April sent markets into turmoil until he paused them for three months, and the latest measures have had less impact. London's FTSE 100 and the pound retreated after data showed the UK economy unexpectedly shrank in May — its second consecutive monthly decline. That followed a mixed session in Asia, where Hong Kong rose, Tokyo fell and Shanghai flattened by the close. Shares in BP jumped 3.4 percent in London after the energy giant said it expected to report higher oil and gas production for its second quarter. Levi Strauss & Co. shot up 11.3 percent after reporting higher profits on a 6.4 percent rise in revenues. The denim company scored especially solid growth in the Americas and Europe. — AFP
Business Recorder
25-06-2025
- Business
- Business Recorder
US stocks mixed as S&P 500 approaches record
NEW YORK: Wall Street stocks opened mixed Wednesday, with traders digesting the recent rally on the Iran-Israel ceasefire as the S&P 500 moved within striking distance of another record. Stocks have strengthened from a rough patch earlier this spring amid President Donald Trump's most aggressive trade actions. The improving dynamics in the Middle East have been the latest positive driver. 'The market is resilient,' said Adam Sarhan of 50 Park Investment. 'And you're almost at new all-time highs. That is extremely impressive.' About 20 minutes into trading, the Dow Jones Industrial Average was down 0.2 percent at 43,016.03 US stocks rise on hopes for Iran-Israel ceasefire The broad-based S&P 500 added 0.1 percent to 6,098.54, about 45 points from its all-time record, while the tech-rich Nasdaq Composite Index gained 0.4 percent to 20,000.24. Among individual companies, FedEx fell 5.5 percent after the shipping company did not provide a full-year forecast, citing uncertainty about the global trade outlook and tariffs.
Economic Times
19-06-2025
- Business
- Economic Times
US stock market outlook amidst Iran Israel War: Will S&P 500, Dow Jones, Nasdaq go up on Friday after Juneteenth holiday?
S&P 500, Dow Jones, and Nasdaq traders will keep eyes on Iran-Israel conflict as the US Stock Markets open on Friday. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs US stock market indexes -- S&P 500 Dow Jones , and Nasdaq -- will look to open in green on Friday. However, investors will remain cautious following ongoing fighting between Iran and Israel. S&P 500 futures fell almost 1 per cent, although most U.S. markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday."Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at was rife "that the U.S. will intervene, something that would mark a material escalation and could invite direct retaliation against the U.S. by Iran. Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth," he of the recent nervousness in markets has been centred around crude supply shocks from the Middle East. Wall Street stocks ended little changed Wednesday after the Federal Reserve kept interest rates Jones Industrial Average ended down 0.1 percent at 42,171.66. The broad-based S&P 500 slipped less than 0.1 percent to 5,980.87, while the tech-rich Nasdaq Composite Index added 0.1 percent at 19, market's ability to avoid major losses amid the Middle East turmoil is "extremely bullish", said Adam Sarhan of 50 Park Investments, while still pointing to trade-talk uncertainty as a market believes that "most likely cooler heads will prevail on the trade front and on the Middle East front," said Sarhan, who described Wednesday's Fed meeting outcome as in line with expectations.A1. US stock market indexes are S&P 500, Dow Jones, and Nasdaq.A2. Dow Jones Industrial Average ended down 0.1 percent at 42,171.66. The broad-based S&P 500 slipped less than 0.1 percent to 5,980.87, while the tech-rich Nasdaq Composite Index added 0.1 percent at 19,546.27.
Time of India
19-06-2025
- Business
- Time of India
US stock market outlook amidst Iran Israel War: Will S&P 500, Dow Jones, Nasdaq go up on Friday after Juneteenth holiday?
S&P 500, Dow Jones, and Nasdaq traders will keep eyes on Iran-Israel conflict as the US Stock Markets open on Friday. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads FAQs US stock market indexes -- S&P 500 Dow Jones , and Nasdaq -- will look to open in green on Friday. However, investors will remain cautious following ongoing fighting between Iran and Israel. S&P 500 futures fell almost 1 per cent, although most U.S. markets - including Wall Street and the Treasury market - will be closed on Thursday for a public holiday."Market participants remain edgy and uncertain," said Kyle Rodda, senior financial markets analyst at was rife "that the U.S. will intervene, something that would mark a material escalation and could invite direct retaliation against the U.S. by Iran. Such a scenario would raise the risk of a greater regional conflict, with implications for global energy supply and probably economic growth," he of the recent nervousness in markets has been centred around crude supply shocks from the Middle East. Wall Street stocks ended little changed Wednesday after the Federal Reserve kept interest rates Jones Industrial Average ended down 0.1 percent at 42,171.66. The broad-based S&P 500 slipped less than 0.1 percent to 5,980.87, while the tech-rich Nasdaq Composite Index added 0.1 percent at 19, market's ability to avoid major losses amid the Middle East turmoil is "extremely bullish", said Adam Sarhan of 50 Park Investments, while still pointing to trade-talk uncertainty as a market believes that "most likely cooler heads will prevail on the trade front and on the Middle East front," said Sarhan, who described Wednesday's Fed meeting outcome as in line with expectations.A1. US stock market indexes are S&P 500, Dow Jones, and Nasdaq.A2. Dow Jones Industrial Average ended down 0.1 percent at 42,171.66. The broad-based S&P 500 slipped less than 0.1 percent to 5,980.87, while the tech-rich Nasdaq Composite Index added 0.1 percent at 19,546.27.
RTHK
03-06-2025
- Business
- RTHK
US stocks close higher on trade hopes
US stocks close higher on trade hopes Traders work the floor of the New York Stock Exchange. Photo: AFP Wall Street stocks bounced on Tuesday as investors hoped for upcoming trade deals to cool tensions from US President Donald Trump's punishing global tariffs. The Dow Jones Industrial Average closed 0.5 percent higher at 42,519.64 while the broad-based S&P 500 gained 0.6 percent to 5,970.37. The tech-heavy Nasdaq Composite Index rallied 0.8 percent to 19,398.96. In particular, Nvidia shares gained 2.8 percent, helping with the overall advance. "The fact that we're not down to me suggests that the market expects a trade deal to happen," said Adam Sarhan of 50 Park Investments. "It's a matter of when, not if at this point." Tuesday's strong gains came despite the Organisation for Economic Co-operation and Development's (OECD) cut to global growth forecasts, warning that Trump's tariffs would stifle the world economy. After 3.3-percent growth last year, the global economy is now expected to expand by 2.9 percent in 2025 and 2026. The OECD also expects the US economy to expand by 1.6 percent this year, down from an expected 2.2 percent previously. (AFP)
