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Economic Times
09-07-2025
- Business
- Economic Times
Wall Street edges lower as investors look for tariff clarity
U.S. stocks experienced a mixed session on Tuesday as investors reacted to President Trump's latest tariff threats, creating uncertainty in the market. The S&P 500 and Nasdaq fluctuated, while the Dow closed lower. Energy stocks gained, but consumer staples and utilities declined. Investors are awaiting the release of the Fed's meeting minutes for further direction. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners. Wall Street equities had sold off sharply on Monday after Trump warned of sweeping new tariffs on goods from key trading partners such as Japan and South Korea and a range of smaller countries starting in moves in U.S. indexes were less pronounced than in the previous session but the benchmark S&P 500 and the tech-heavy Nasdaq spent the session flitting between red and green as investors sought direction from tariff headlines. Trump appeared to broaden his global trade war with the announcement on Tuesday that he would put a 50% tariff on imported copper while he said that long-threatened levies on semiconductors and pharmaceuticals were coming U.S. president said trade talks have been going well with the European Union and China but added that he was only days away from sending a tariff letter to the EU."It's almost like markets are waiting to exhale," while investors wait for more tariff news , said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis, Minnesota."The fact that markets are holding in pretty tight, still just an eyelash away from all-time highs, shows investors are willing to give headlines the benefit of the doubt," she said. And while investors wait for the second-quarter earnings season to begin in mid-July, they are likely relieved by the passage into law last week of the U.S. government's spending plan, including some business-friendly tax policies, according to Dow Jones Industrial Average fell 165.60 points, or 0.37%, to 44,240.76, the S&P 500 lost 4.46 points, or 0.07%, to 6,225.52 and the Nasdaq Composite gained 5.95 points, or 0.03%, to 20, the S&P 500's 11 major industry groups, only five showed any gains. The energy index had the biggest advance, finishing up 2.72%, while the more defensive consumer staples and utilities sectors both fell more than 1% on the investors were wary of making big moves in larger stocks, the Russell 2000 small-cap index outperformed with a 0.66% gain. The market's cautious reaction to trade headlines contrasted with the wild volatility that was unleashed after Trump's April 2 "Liberation Day" tariff announcements, which pushed the Nasdaq down sharply to confirm a bear market and sent the Dow and the S&P 500 into a correction. Since then, Wall Street has rebounded to regain lost ground, with the Nasdaq and the S&P 500 powering to fresh record highs last week, as a solid labor market report helped ease fears of a recession. BofA Global Research and Goldman Sachs raised their year-end targets for the S&P 500 index, broadly driven by reduced policy uncertainty, resilient corporate earnings and potential interest rate of the Fed's June rate-setting meeting are scheduled for release on Wednesday, potentially providing more clarity on when the central bank might resume its policy-easing cycle. In mega-cap shares, Tesla gained 1.3% after its stock recorded its steepest single-day fall in roughly a month on Monday. In other individual stocks, U.S. copper miner Freeport-McMoRan appeared to benefit from the idea of steep import tariffs on the metal, with the stock ending up 2.5%. Moderna was the S&P 500's biggest percentage gainer, jumping 8.8% after leading medical organizations filed a lawsuit against U.S. Health Secretary Robert F. Kennedy Jr. and Department of Health and Human Services, arguing that current COVID-19 vaccine policies pose a threat to public health. Shares of solar stocks fell after Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy sank 11.4% while Enphase Energy lost 3.6% and SolarEdge Technologies dropped 1%.Advancing issues outnumbered decliners by a 1.51-to-1 ratio on the NYSE, where there were 156 new highs and 25 new the Nasdaq, 2,797 stocks rose and 1,669 fell as advancing issues outnumbered decliners by a 1.68-to-1 S&P 500 posted 17 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 83 new highs and 51 new U.S. exchanges 17.03 billion shares changed hands compared with the 18.31 billion moving average for the last 20 sessions.
Time of India
09-07-2025
- Business
- Time of India
Wall Street edges lower as investors look for tariff clarity
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel The S&P 500 ended Tuesday's choppy session slightly lower as investors waited for clarity on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes around talks with some trade partners. Wall Street equities had sold off sharply on Monday after Trump warned of sweeping new tariffs on goods from key trading partners such as Japan and South Korea and a range of smaller countries starting in moves in U.S. indexes were less pronounced than in the previous session but the benchmark S&P 500 and the tech-heavy Nasdaq spent the session flitting between red and green as investors sought direction from tariff headlines. Trump appeared to broaden his global trade war with the announcement on Tuesday that he would put a 50% tariff on imported copper while he said that long-threatened levies on semiconductors and pharmaceuticals were coming U.S. president said trade talks have been going well with the European Union and China but added that he was only days away from sending a tariff letter to the EU."It's almost like markets are waiting to exhale," while investors wait for more tariff news , said Carol Schleif, chief market strategist at BMO Private Wealth in Minneapolis, Minnesota."The fact that markets are holding in pretty tight, still just an eyelash away from all-time highs, shows investors are willing to give headlines the benefit of the doubt," she said. And while investors wait for the second-quarter earnings season to begin in mid-July, they are likely relieved by the passage into law last week of the U.S. government's spending plan, including some business-friendly tax policies, according to Dow Jones Industrial Average fell 165.60 points, or 0.37%, to 44,240.76, the S&P 500 lost 4.46 points, or 0.07%, to 6,225.52 and the Nasdaq Composite gained 5.95 points, or 0.03%, to 20, the S&P 500's 11 major industry groups, only five showed any gains. The energy index had the biggest advance, finishing up 2.72%, while the more defensive consumer staples and utilities sectors both fell more than 1% on the investors were wary of making big moves in larger stocks, the Russell 2000 small-cap index outperformed with a 0.66% gain. The market's cautious reaction to trade headlines contrasted with the wild volatility that was unleashed after Trump's April 2 "Liberation Day" tariff announcements, which pushed the Nasdaq down sharply to confirm a bear market and sent the Dow and the S&P 500 into a correction. Since then, Wall Street has rebounded to regain lost ground, with the Nasdaq and the S&P 500 powering to fresh record highs last week, as a solid labor market report helped ease fears of a recession. BofA Global Research and Goldman Sachs raised their year-end targets for the S&P 500 index, broadly driven by reduced policy uncertainty, resilient corporate earnings and potential interest rate of the Fed's June rate-setting meeting are scheduled for release on Wednesday, potentially providing more clarity on when the central bank might resume its policy-easing cycle. In mega-cap shares, Tesla gained 1.3% after its stock recorded its steepest single-day fall in roughly a month on Monday. In other individual stocks, U.S. copper miner Freeport-McMoRan appeared to benefit from the idea of steep import tariffs on the metal, with the stock ending up 2.5%. Moderna was the S&P 500's biggest percentage gainer, jumping 8.8% after leading medical organizations filed a lawsuit against U.S. Health Secretary Robert F. Kennedy Jr. and Department of Health and Human Services, arguing that current COVID-19 vaccine policies pose a threat to public health. Shares of solar stocks fell after Trump on Monday directed federal agencies to strengthen provisions in the One Big Beautiful Bill Act that repeal or modify tax credits for solar and wind energy sank 11.4% while Enphase Energy lost 3.6% and SolarEdge Technologies dropped 1%.Advancing issues outnumbered decliners by a 1.51-to-1 ratio on the NYSE, where there were 156 new highs and 25 new the Nasdaq, 2,797 stocks rose and 1,669 fell as advancing issues outnumbered decliners by a 1.68-to-1 S&P 500 posted 17 new 52-week highs and 4 new lows while the Nasdaq Composite recorded 83 new highs and 51 new U.S. exchanges 17.03 billion shares changed hands compared with the 18.31 billion moving average for the last 20 sessions.
Mint
22-05-2025
- Business
- Mint
Investors cautious ahead of vote on Trumps big beautiful tax bill
LONDON - The bond vigilantes were stalking global debt markets on Thursday, keeping the dollar and stocks subdued too, ahead of a crucial vote in the United States on President Donald Trump's "big beautiful" tax bill. Caution dominated in Europe after a lacklustre U.S. 20-year bond sale on Wednesday reinforced a "Sell America" narrative already nagging on investors' minds after Moody's last week cut its triple-A credit rating for the United States. Germany's long-term bond yields hit their highest in two-months as global yield curves steepened. Britain's government borrowed more than expected in April, figures showed, while euro zone business activity unexpectedly slipped back into contraction territory. It left stock markets in London, Paris, Milan and Frankfurt all down more than 0.5% [EU.]. Safe-haven gold rose to a two-week peak while bitcoin jumped to an all-time high, partly as investors sought out alternatives to U.S. assets. [EU.] [GVD/EUR] The non-partisan Committee for a Responsible Federal Budget estimates that the U.S. bill, which will extend Trump's signature 2017 tax cuts as well boost military and other spending, will increase the U.S. debt pile by $3.8 trillion over the next decade. UBS economist Paul Donovan said while the final details were still to be seen, "the broad impact is to push the U.S. further along a rising debt path. Bond investors are less than happy". The yields on 30-year Treasury bonds - a proxy for super long-term U.S. government borrowing costs - reached 5.108%, its highest since October 2023 and the 20-year yield hit 5.126%, its highest since November that year. The bond market in Japan has also been in focus given it has the highest debt-to-GDP ratio of any major economy. The 30-year JGB yield hovered at 3.155%, not far from the record high of 3.185% hit in the previous session. [JP/] Stocks in Asia also fell after Wall Street tumbled following the tepid debt auction. MSCI's broadest index of Asia-Pacific shares outside Japan ended 0.6% lower, while Japan's Nikkei fell 0.8% on a stronger yen. [FRX/] Oil prices fell more than 1% following a report that OPEC is discussing a production increase for July, stoking concerns that any potential jump in global supply will exceed demand growth. [O/R] Brent futures fell $1.05, or 1.62%, to $63.86 a barrel in Europe, while U.S. West Texas Intermediate crude dropped 97 cents, or 1.58%, to $60.60. Modest progress to date on trade deals has also kept investors jittery. Attention will also be on a Group of Seven meeting in Canada, where finance ministers put a positive spin on discussions to try to reach an agreement on a joint communique largely covering non-tariff issues. Investors have also been scouring for any hints that currency markets could be part of trade negotiations. However, Thai and Japanese officials said currency markets were not part of their discussions. This article was generated from an automated news agency feed without modifications to text.
BBC News
05-03-2025
- Politics
- BBC News
Taoiseach praises UK-Irish 'reset' ahead of joint summit
A UK-Ireland summit marks a "major and significant manifestation" of a reset in relations between the two governments in the post-Brexit era, Taoiseach (Irish PM) Micheál Martin has will meet Prime Minister Keir Starmer on Wednesday evening, ahead of the summit on first of its kind, it will be attended by cabinet members from both the UK and Irish governments in the North West of England on comes amid the backdrop of growing security concerns among the UK and EU countries about the influence of Russia. At the summit, the pair are expected to discuss the latest efforts to bring peace to Ukraine, as well as agreeing a programme of co-operation between both governments over the next five of meeting Sir Keir, Martin paid tribute to the prime minister for "his leadership over the last while"."He has been effective and impactful, we all want peace - there are too many wars in the world," he told reporters. Asked if he would stand his ground with President Trump at events in Washington DC for St Patrick's Day next week, the taoiseach said his focus for now was the British-Irish relationship and that the Irish-US relationship remained also said he did not agree with comments by First Minister Michelle O'Neill after she said she was "incredulous" at the UK Government's decision to spend up to £1.6bn on defence missiles for Ukraine."I wouldn't agree with the first minister - no one likes the utilisation of weapons and all my life I've been on the peace side of the equation," he said."We don't live in an ideal world, one has to have capability to defend your country."But it's Russia who illegally invaded Ukraine, that's the reality... Europe needs to improve and enhance its capability in order to have a deterrence to avoid any encroachment on a member of the EU."The summit is expected to finish by mid morning on Thursday as the taoiseach is attending a special European Council meeting in Brussels on Thursday Keir has previously expressed the importance of "resetting relation" between the UK and the Republic of September, he became the first British prime minister to visit the Republic of Ireland in five Street said the visit marked a "new era of co-operation and friendship" between Britain and Ireland.
BBC News
29-01-2025
- Business
- BBC News
Brexit: Clarity needed to prevent EU row on NI environmental taxes
Northern Ireland could provoke a row between the UK and EU over environmental taxes, a business organisation has UK said there needs to be clarity about how the tax known as a Carbon Border Adjustment Mechanism (CBAM) will apply in UK government says NI will be part of the UK CBAM, which will apply from Energy UK said the EU is likely to insist that its version of the CBAM applies in NI. A CBAM is effectively a carbon or fossil fuel tax on energy-intensive imported goods like steel and fertiliser. The EU's CBAM also applies to imported and EU manufacturers have to pay to emit carbon. A CBAM is intended to create a level playing field by making sure imported goods are also paying for the carbon emitted in their UK said the EU is likely to want its CBAM to apply in NI due to the Windsor Framework, NI's post-Brexit trading framework essentially leaves NI inside the EU's single market for goods while the rest of the UK is means goods moving from GB to NI face a range of checks and controls to ensure they meet EU standards. 'Serious consequences' Energy UK said that only by applying the CBAM on goods coming from GB to NI will the EU be able to confirm "that any goods entering the single market have paid a carbon price".It added: "If the UK were to insist that the EU CBAM should not apply in Northern Ireland, this would have serious consequences for the government's 'reset' with the EU and risk reopening the Windsor Framework.''A likely consequence of this action would be the imposition of barriers to trade in the form of retaliatory tariffs from the EU."Energy UK also believes that even if the government agreed to the EU CBAM applying in NI, it would still create problems by imposing significant new costs on goods and electricity being sold from GB to said that ultimately the problems could be solved by the UK and EU relinking their system for pricing carbon emissions, a link that was broken by added: "Linking the EU and UK carbon markets would remove carbon borders between both jurisdictions."Most importantly, by creating a combined carbon market, the carbon price in the UK and EU will end up becoming the same."This removes the need for CBAM payments from the UK to EU. With a linked carbon market, the administrative burden of filling in CBAM paperwork will also disappear."A UK government spokesperson said: "Under the terms of the Trade and Cooperation Agreement, the UK government and EU agreed to consider linking our respective carbon pricing schemes and to cooperate on carbon pricing." Analysis This is a complicated and messy policy area which a few years ago could have blown up into a major EU-UK there is currently no appetite for that sort of row, and the government seems to be edging towards a solution is basically alignment with the EU's system for pricing carbon emissions."Linking our respective systems is absolutely what the ambition is," the government's EU point man Nick Thomas-Symonds said last that happens, government critics will say that government policy is a slow drift back into the EU's orbit.
