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Nahar Net
04-07-2025
- Business
- Nahar Net
World shares mostly down as Trump's tariff deadline looms, while US stocks set records
by Naharnet Newsdesk 6 hours World shares mostly fell on Friday even as U.S. stocks climbed further into record heights as the clock ticks on President Donald Trump's July 9 tariff deadline. In early trading in Europe, Germany's DAX shed 0.8% to 23,730.61, while the CAC 40 in Paris fell 1.1% to 7,666.91. Britain's FTSE 100 was down 0.4% to 8,790.21. The futures for S&P 500 and Dow Jones Industrial average were both 0.5% lower. In Asia, Japan's Nikkei 225 recovered early losses, gaining 0.1% to 39,810.88, while South Korea's KOSPI index was fell 2% to 3,054.28. Hong Kong's Hang Seng index lost 0.6% to 23,916.06 while the Shanghai Composite index added 0.3% to 3,472.32. Australia's S&P/ASX 200 rose 0.1% to 8,603.00 while India's Sensex index shed 0.1% to 83,148.45. "Asian markets slipped into Friday like someone entering a dark alley with one eye over their shoulder — because while US equities danced higher on a sweet spotted post-payroll sugar rush, the mood in Asia was far less celebratory," Stephen Innes, managing partner at SPI Asset Management, wrote in a commentary. "The reason? That familiar, twitchy unease every time Trump gets near the tariff trigger," he added. Mizuho Bank Ltd. said countries may be receiving letters from Trump stating tariff levels as early as Friday. Countries will have to brace for volatility, it said. On Thursday, after a report showed a U.S. job market stronger than Wall Street expected, the S&P 500 rose 0.8% and set an all-time high for the fourth time in five days. The Dow Jones Industrial Average added 344 points, or 0.8%, and the Nasdaq composite gained 1%. Many of Trump's stiff proposed taxes on imports are currently on pause, but they're scheduled to kick in next week unless Trump reaches deals with other countries to lower them. Elsewhere Friday, U.S. benchmark crude was down 45 cents to $66.55 per barrel. Brent crude, the international standard, shed 53 cents to $68.27 per barrel. The U.S. dollar slid to 144.34 Japanese yen from 144.92 yen. The euro edged higher to $1.1773 from $1.1761.
Toronto Star
21-05-2025
- Business
- Toronto Star
Oil Climbs on Report That Israel Is Preparing to Strike Iran
(Bloomberg) — Oil jumped on a report from CNN that US intelligence suggests Israel is making preparations to strike Iranian nuclear facilities. West Texas Intermediate futures surged as much as 3.5% to $64.19 a barrel. It isn't clear that Israeli leaders have made a final decision on whether to carry out the strikes, CNN said, citing unnamed officials. Oil prices have been volatile since last week on mixed headlines about the fate of Iran-US talks, which could pave the way for more barrels to return to a market that's expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to volatility in the Middle East, which supplies about a third of the world's oil. ARTICLE CONTINUES BELOW 'There's a difference between proxy battles and symbolic strikes versus an unmitigated attack, which is what latest reports, if true, appear to potentially flag,' said Vishnu Varathan, head of macro for Asia ex-Japan for Mizuho Bank Ltd. Other conflicts between Israel and others 'had a sense of greater restraint on both sides, especially given the involvement of, and coordination with, regional players alongside the US and Europe.' Iran's Supreme Leader Ali Khamenei on Tuesday said he didn't think the latest effort to negotiate with the US would lead to a result. WTI prices could tumble as low as $40 a barrel if sanctions on the Islamic Republic's oil exports are lifted, according to Bloomberg Intelligence. To get Bloomberg's Energy Daily newsletter in your inbox, click here. ©2025 Bloomberg L.P. (Bloomberg) — Oil jumped on a report from CNN that US intelligence suggests Israel is making preparations to strike Iranian nuclear facilities. West Texas Intermediate futures surged as much as 3.5% to $64.19 a barrel. It isn't clear that Israeli leaders have made a final decision on whether to carry out the strikes, CNN said, citing unnamed officials. Oil prices have been volatile since last week on mixed headlines about the fate of Iran-US talks, which could pave the way for more barrels to return to a market that's expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to volatility in the Middle East, which supplies about a third of the world's oil. 'There's a difference between proxy battles and symbolic strikes versus an unmitigated attack, which is what latest reports, if true, appear to potentially flag,' said Vishnu Varathan, head of macro for Asia ex-Japan for Mizuho Bank Ltd. Other conflicts between Israel and others 'had a sense of greater restraint on both sides, especially given the involvement of, and coordination with, regional players alongside the US and Europe.' ARTICLE CONTINUES BELOW ARTICLE CONTINUES BELOW Iran's Supreme Leader Ali Khamenei on Tuesday said he didn't think the latest effort to negotiate with the US would lead to a result. WTI prices could tumble as low as $40 a barrel if sanctions on the Islamic Republic's oil exports are lifted, according to Bloomberg Intelligence. To get Bloomberg's Energy Daily newsletter in your inbox, click here. ©2025 Bloomberg L.P.
Toronto Star
21-05-2025
- Business
- Toronto Star
Oil surges on report that Israel is preparing to strike Iran
Oil jumped on a report from CNN that US intelligence suggests Israel is making preparations to strike Iranian nuclear facilities. West Texas Intermediate futures surged as much as 3.5% to $64.19 a barrel. It isn't clear that Israeli leaders have made a final decision on whether to carry out the strikes, CNN said, citing unnamed officials. Oil prices have been volatile since last week on mixed headlines about the fate of Iran-US talks, which could pave the way for more barrels to return to a market that's expected to be oversupplied later in the year. An attack by Israel would hinder any progress in those negotiations and add to volatility in the Middle East, which supplies about a third of the world's oil. ARTICLE CONTINUES BELOW 'There's a difference between proxy battles and symbolic strikes versus an unmitigated attack, which is what latest reports, if true, appear to potentially flag,' said Vishnu Varathan, head of macro for Asia ex-Japan for Mizuho Bank Ltd. Other conflicts between Israel and others 'had a sense of greater restraint on both sides, especially given the involvement of, and co-ordination with, regional players alongside the US and Europe.' Iran's Supreme Leader Ali Khamenei on Tuesday said he didn't think the latest effort to negotiate with the US would lead to a result. WTI prices could tumble as low as $40 a barrel if sanctions on the Islamic Republic's oil exports are lifted, according to Bloomberg Intelligence. ©2025 Bloomberg L.P.
