Latest news with #DowJonesIndustrialAverage
BusinessToday
an hour ago
- Business
- BusinessToday
KLCI May Continue To Trend Higher With Resistance Level At 1,540
Asian markets mostly closed higher, buoyed by hopes that the US-brokered Israel-Iran ceasefire would hold, which also contributed to a decline in oil prices. Sentiment across the region was further boosted by a mildly dovish tone from US Federal Reserve Chairman Jerome Powell, echoing earlier remarks from Fed officials Waller and Bowman, which kept the possibility of a July rate cut in play, contingent on inflation trends and rising labour market risks. United States Market: In the US, the Dow Jones Industrial Average slipped 107 points, experiencing profit-taking after rallying 917 points over the past three consecutive sessions. Investors weighed the progress of the Middle East ceasefire against Powell's cautious congressional remarks. Powell indicated that tariff-driven inflation is manageable but reaffirmed that the Fed is not yet ready to cut rates despite political pressure. Economic data from the US showed new home sales falling to their lowest level since October 2024, impacted by high mortgage rates. Markets are now looking ahead to the release of durable goods data on June 26 and the core Personal Consumption Expenditures (PCE) reading on June 27. After market hours, Micron Technology (MU) gained 0.9% on strong earnings and outlook. Malaysian Market Performance: mirroring positive trends in Wall Street and regional markets, Malaysia's FBM KLCI gained 5.5 points to close at 1,519.8. Market breadth remained positive, indicating more advancing stocks than declining ones. Trading volume stood at 3.15 billion shares, a 15% increase compared to the June month-to-date (MTD) average of 2.74 billion shares. The total trading value reached RM2.27 billion, up 7.6% from the June MTD average of RM2.11 billion, signaling underlying market strength. Local institutions resumed their net buying, adding RM110 million (June MTD: +RM1.78 billion; Year-to-Date (YTD): +RM10.56 billion). In contrast, foreign funds continued their net outflows, recording -RM51 million today after a brief RM5 million nibble a day ago (June MTD: -RM1.50 billion; YTD: -RM12.33 billion). Retail investors also registered net outflows of -RM59 million (June MTD: -RM279 million; YTD: +RM1.77 billion). The KLCI is trending higher, with HLIB noting that major resistance levels are identified at 1,523, 1,532, and 1,540. Related
Mint
5 hours ago
- Business
- Mint
US stock market ends higher; S&P 500, Nasdaq hit record close on trade deal, US Fed rate cut hopes
US stock market ended higher on Friday, with the S&P 500 and Nasdaq recording their all-time closing highs, lifted by hopes of a US-China trade deal and US Federal Reserve interest rate cuts after soft economic data. The Dow Jones Industrial Average rallied 432.43 points, or 1.00%, to 43,819.27, while the S&P 500 rose 32.05 points, or 0.52%, to 6,173.07. The Nasdaq Composite closed 105.55 points, or 0.52%, higher at 20,273.46. All three major US stock indexes posted weekly gains. Among the 11 major sectors of the S&P 500, consumer discretionary was the top gainer, while energy shares were the laggards. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post 'liberation day' trough on April 8, Reuters reported. The blue-chip Dow remained 2.7% below its record closing high reached on December 4. US stock market gained as investors risk-appetite improved after Washington and Beijing reached an agreement to expedite rare-earth shipments from China to the US, a White House official said, well ahead of the July 9 expiration of the 90-day postponement of US President Donald Trump's 'reciprocal' tariffs, Reuters reported. Additionally, US Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main US trading partners could be done by the September 1 Labor Day holiday. On the NYSE, there were 347 new highs and 55 new lows. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 ratio. Nvidia share price gained 1.8%, edging closer to $4 trillion market capitalization, while Amazon shares rallied 2.85%. Micron Technology shears eased 0.98%, while Tesla stock price dropped 1.43%. Nike shares jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. US consumer spending unexpectedly fell in May. Consumer spending, which accounts for more than two-thirds of economic activity, dropped 0.1% last month after an unrevised 0.2% gain in April. That was the second decline in consumer spending this year. Economists polled by Reuters had forecast consumer spending would edge up 0.1%. A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election bounce. Financial markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch tool. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
Canada Standard
5 hours ago
- Business
- Canada Standard
U.S. stocks surge despite Trump rift with Canada
NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada. Such is the strength of the U.S. stock market though, that after an early dip, buyers again took the upper hand, sending the Standard and Poor's 500 to a new record. "We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country," the U.S. president posted on his own social media platform Truth Social on Friday. "They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately." "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period," Mr Trump said. Despite the ruckus with Canada, there were some stand-outs on Friday. Nvidia rose for the fifth day in a row, taking it to a record high. The stock after hitting a one-year low in April, has since surged 66 percent and is now capitalized at $3.85 trillion, ahead of Apple and Microsoft. The stock rose $2.66 or 1.72 percent on Friday, to close at $157.75, its highest closing level ever. Wall Street Extends Gains The Standard and Poor's 500 (^GSPC) rose 32.08 points (up 0.52 percent) to close at 6,173.10 , marking another record high, as investors remained optimistic about corporate earnings and economic growth. The Dow Jones Industrial Average (^DJI) outperformed with a strong gain of 432.43 points (up 1.00 percent) , finishing at 43,819.27 —its best close since early June. Tech stocks also advanced, with the Nasdaq Composite (^IXIC) climbing 105.54 points (up 0.52 percent) to 20,273.46 , supported by gains in semiconductor and AI-related shares. Market Outlook Analysts attributed Wall Street's strength to renewed confidence in the Federal Reserve's potential rate cuts later this year, while weaker oil prices and the breakdown in trade talks pressured Canadian equities. Trading volumes were robust, with the S&P 500 seeing 4.147 billion shares exchanged. Dollar Strengthens Against Yen and Canadian Dollar Friday's foreign exchange session saw the U.S. dollar (USD) gaining against some major currencies while weakening against others, as traders assessed economic data and central bank outlooks. The EUR/USD pair on Friday edged up slightly to 1.1704 , rising 0.04 percent as the euro held steady amid mixed European economic signals. Meanwhile, the USD/JPY climbed 0.25 percent to 144.71 , as the yen remained under pressure amid expectations of continued loose monetary policy from the Bank of Japan. The USD/CAD saw a notable jump Friday, gaining 0.54 percent to 1.3712 , as the United States terminated trade talks with Canada. Pound and Aussie Dollar Decline Against Greenback The GBP/USD fell 0.16 percent to 1.3703 , as the British pound softened following cautious remarks from Bank of England policymakers. The AUD/USD dropped 0.37 percent to 0.6520 , reflecting broader risk-off sentiment in commodity-linked currencies. The NZD/USD dipped slightly by 0.05 percent to 0.6049 , while the USD/CHF saw a marginal decline of 0.01 percent to 0.7995 , as the Swiss franc held firm amid global market uncertainty. Market Outlook Traders are now looking ahead to next week's key economic data, including inflation figures and central bank speeches, which could influence currency movements. The dollar's mixed performance suggests markets remain cautious. Global markets wrap up Friday, European and UK bourses finish with solid gains Friday's trading session saw a mixed performance across global indices. Overall, European markets outperformed, while Asian indices showed a split between gains and losses as investors weighed economic data and central bank policies. Canada's TSX Drops After Rift with U.S. re-emerges The S&P/TSX Composite (^GSPTSE) declined 59.63 points (down 0.22 percent) to 26,692.32 , weighed down by losses in energy and materials sectors as news of the ending of trade tades with the United States broke. UK and European Indices Rally The FTSE 100 (^FTSE) in London closed at 8,798.91 , rising 63.31 points (up 0.72 percent) . In Germany' the DAX (^GDAXI) surged 383.92 points (up 1.62 percent) to 24,033.22 , while France's CAC 40 (^FCHI) climbed 134.24 points (up 1.78 percent) to 7,691.55 . The broader EURO STOXX 50 (^STOXX50E) also advanced Friday, gaining 81.61 points (up 1.56 percent) to 5,325.64 . Belgium's BEL 20 (^BFX) added 38.13 points (up 0.85 percent) to 4,509.03 , and the Euronext 100 (^N100) rose 19.45 points (up 1.25 percent) to 1,575.55 . Split Results in Asia and Pacific In Asia on Friday, Hong Kong's Hang Seng (^HSI) dipped 41.25 points (down 0.17 percent) to 24,284.15 , while Australia's S&P/ASX 200 (^AXJO) fell 36.60 points (down 0.43 percent) to 8,514.20 . The Australian All Ordinaries (^AORD) slipped 30.00 points (down 0.34 percent) to 8,743.60 . However, India's S&P BSE SENSEX (^BSESN) gained 303.03 points (up 0.36 percent) on Friday to 84,058.90 , while in Indonesia, the IDX Composite (^JKSE) rose 65.26 points (up 0.96 percent) to 6,897.40 . Malaysia's KLSE (^KLSE) edged up 8.37 points (up 0.55 percent) to 1,528.16 , and New Zealand's NZX 50 (^NZ50) jumped 103.54 points (up 0.83 percent) to 12,583.59 . South Korea's KOSPI (^KS11) declined 23.62 points (down 0.77 percent) to 3,055.94 , while Taiwan's TWII (^TWII) added 87.74 points (up 0.39 percent) to 22,580.08 . Japan and China Show Divergence Japan's Nikkei 225 (^N225) continued its strong run on Friday, climbing 566.21 points (up 1.43 percent) to 40,150.79 , marking another milestone. However, China's Shanghai Composite ( fell 24.23 points (down 0.70 percent) to 3,424.23 . African equities slide South Africa's JSE Top 40 (^ dipped 26.92 points (down 0.50 percent) to 5,319.61 , while Singapore's STI (^STI) rose 27.74 points (up 0.70 percent) to 3,966.20 . Middle East Markets Closed Mideast markets were mostly closed on Friday and are set to re-open on Sunday. Related stories: Thursday 26 June 2025 | Nasdaq Composite surges 194 points, close to record high | Big News Network Wednesday 25 June 2025 | Tech stocks move higher Wednesday, broader markets falter | Big News Network Tuesday 24 June 2025 | Dow Jones jumps 507 points as Mideast truce takes hold | Big News Network Monday 23 June 2025 | Wall Street forges ahead despite despite weekend attacks on Iran | Big News Network
Canada News.Net
5 hours ago
- Business
- Canada News.Net
U.S. stock markets jump despite Trump tussle with Canada
NEW YORK, New York - U.S. President Donald Trump dropped a bombshell on Friday announcing he had terminated trade talks with Canada. Such is the strength of the U.S. stock market though, that after an early dip, buyers again took the upper hand, sending the Standard and Poor's 500 to a new record. "We have just been informed that Canada, a very difficult Country to TRADE with, including the fact that they have charged our Farmers as much as 400% Tariffs, for years, on Dairy Products, has just announced that they are putting a Digital Services Tax on our American Technology Companies, which is a direct and blatant attack on our Country," the U.S. president posted on his own social media platform Truth Social on Friday. "They are obviously copying the European Union, which has done the same thing, and is currently under discussion with us, also. Based on this egregious Tax, we are hereby terminating ALL discussions on Trade with Canada, effective immediately." "We will let Canada know the Tariff that they will be paying to do business with the United States of America within the next seven day period," Mr Trump said. Despite the ruckus with Canada, there were some stand-outs on Friday. Nvidia rose for the fifth day in a row, taking it to a record high. The stock after hitting a one-year low in April, has since surged 66 percent and is now capitalized at $3.85 trillion, ahead of Apple and Microsoft. The stock rose $2.66 or 1.72 percent on Friday, to close at $157.75, its highest closing level ever. Wall Street Extends Gains The Standard and Poor's 500 (^GSPC) rose 32.08 points (up 0.52 percent) to close at 6,173.10, marking another record high, as investors remained optimistic about corporate earnings and economic growth. The Dow Jones Industrial Average (^DJI) outperformed with a strong gain of 432.43 points (up 1.00 percent), finishing at 43,819.27—its best close since early June. Tech stocks also advanced, with the Nasdaq Composite (^IXIC) climbing 105.54 points (up 0.52 percent) to 20,273.46, supported by gains in semiconductor and AI-related shares. Market Outlook Analysts attributed Wall Street's strength to renewed confidence in the Federal Reserve's potential rate cuts later this year, while weaker oil prices and the breakdown in trade talks pressured Canadian equities. Trading volumes were robust, with the S&P 500 seeing 4.147 billion shares exchanged. Friday's foreign exchange session saw theU.S. dollar (USD)gaining against some major currencies while weakening against others, as traders assessed economic data and central bank outlooks. The EUR/USD pair on Friday edged up slightly to 1.1704, rising 0.04 percent as the euro held steady amid mixed European economic signals. Meanwhile, the USD/JPY climbed 0.25 percent to 144.71, as the yen remained under pressure amid expectations of continued loose monetary policy from the Bank of Japan. The USD/CAD saw a notable jump Friday, gaining 0.54 percent to 1.3712, as the United States terminated trade talks with Canada. Pound and Aussie Dollar Decline Against Greenback The GBP/USD fell 0.16 percent to 1.3703, as the British pound softened following cautious remarks from Bank of England policymakers. The AUD/USD dropped 0.37 percent to 0.6520, reflecting broader risk-off sentiment in commodity-linked currencies. The NZD/USD dipped slightly by 0.05 percent to 0.6049, while the USD/CHF saw a marginal decline of 0.01 percent to 0.7995, as the Swiss franc held firm amid global market uncertainty. Market Outlook Traders are now looking ahead to next week's key economic data, including inflation figures and central bank speeches, which could influence currency movements. The dollar's mixed performance suggests markets remain cautious. Global markets wrap up Friday, European and UK bourses finish with solid gains Friday's trading session saw a mixed performance across global indices. Overall, European markets outperformed, while Asian indices showed a split between gains and losses as investors weighed economic data and central bank policies. The S&P/TSX Composite (^GSPTSE) declined 59.63 points (down 0.22 percent) to 26,692.32, weighed down by losses in energy and materials sectors as news of the ending of trade tades with the United States broke. UK and European Indices Rally The FTSE 100 (^FTSE) in London closed at 8,798.91, rising 63.31 points (up 0.72 percent). In Germany' theDAX (^GDAXI) surged 383.92 points (up 1.62 percent) to 24,033.22, while France's CAC 40 (^FCHI) climbed 134.24 points (up 1.78 percent) to 7,691.55. The broader EURO STOXX 50 (^STOXX50E) also advanced Friday, gaining 81.61 points (up 1.56 percent) to 5,325.64. Belgium's BEL 20 (^BFX) added 38.13 points (up 0.85 percent) to 4,509.03, and the Euronext 100 (^N100) rose 19.45 points (up 1.25 percent) to 1,575.55. Split Results in Asia and Pacific In Asia on Friday, Hong Kong's Hang Seng (^HSI) dipped 41.25 points (down 0.17 percent) to 24,284.15, while Australia's S&P/ASX 200 (^AXJO) fell 36.60 points (down 0.43 percent) to 8,514.20. The Australian All Ordinaries (^AORD) slipped 30.00 points (down 0.34 percent) to 8,743.60. However, India's S&P BSE SENSEX (^BSESN) gained 303.03 points (up 0.36 percent) on Friday to 84,058.90, while in Indonesia, the IDX Composite (^JKSE) rose 65.26 points (up 0.96 percent) to 6,897.40. Malaysia's KLSE (^KLSE) edged up 8.37 points (up 0.55 percent) to 1,528.16, and New Zealand's NZX 50 (^NZ50) jumped 103.54 points (up 0.83 percent) to 12,583.59. South Korea's KOSPI (^KS11) declined 23.62 points (down 0.77 percent) to 3,055.94, while Taiwan's TWII (^TWII) added 87.74 points (up 0.39 percent) to 22,580.08. Japan and China Show Divergence Japan's Nikkei 225 (^N225) continued its strong run on Friday, climbing 566.21 points (up 1.43 percent) to 40,150.79, marking another milestone. However, China's Shanghai Composite ( fell 24.23 points (down 0.70 percent) to 3,424.23. African equities slide South Africa's JSE Top 40 (^ dipped 26.92 points (down 0.50 percent) to 5,319.61, while Singapore's STI (^STI) rose 27.74 points (up 0.70 percent) to 3,966.20. Middle East Markets Closed
Business Recorder
6 hours ago
- Business
- Business Recorder
Shares rally on China-US trade optimism
NEW YORK/PARIS: Global shares reached a record high on Friday, helped by market optimism over signs of progress in US-China trade talks, while the dollar held close to its lowest levels in more than three years. The benchmark S&P 500 index and Nasdaq hit all-time highs, lifted partly by gains in megacap growth stocks including Nvidia and Amazon. The S&P 500 index and Nasdaq are headed for a weekly gain and are up about 5% this year, following a volatile first half of the year, dominated by US President Donald Trump's tariff announcement on April 2, which sent stocks plunging. The Dow Jones Industrial Average rose 1.13% to 43,879.23, the S&P 500 rose 0.62% to 6,178.95 and the Nasdaq Composite rose 0.51% to 20,270.99. The pan-European STOXX 600 index finished up 1.1% on the day, set for a weekly gain.
