Latest news with #NYSEArcaAirlineIndex
Business Standard
6 hours ago
- Business
- Business Standard
Markets Slip Amid Tariff Tensions and Earnings Season Anticipation
U.S. indexes declined as Trump announced new tariffs on Canada; investors await key earnings reports while global markets show mixed trends. The Dow slid 279.13 points (0.6%) to 44,371.51, the Nasdaq slipped 45.14 points (0.2%) to 20,585.53 and the S&P 500 fell 20.71 points (0.3%) to 6,259.75. Former President Trump announced a 35% tariff on Canadian imports, effective August 1st, citing Canadas failure to curb fentanyl trafficking. He warned of further hikes if Canada retaliates but offered to reconsider if cooperation improves. Trump also revealed plans for blanket tariffs of 1520% on most U.S. trade partners. Despite these announcements, trading activity remained subdued amid a lack of major U.S. economic data. Traders are eyeing the upcoming earnings season, with major U.S. banks set to kick things off next week. Analysts say strong corporate outlooks could boost market confidence despite ongoing tariff concerns. Airline stocks pulled back sharply after soaring in the previous session, dragging the NYSE Arca Airline Index down by 2.7%. Biotech stocks were considerably weak, as reflected by the 1.5% loss posted by the NYSE Arca Biotechnology Index. Networking, housing and pharmaceutical stocks too turned notably weak while gold stocks moved strongly upwards along with the price of the precious metal. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index dipped by 0.2%, while Hong Kong's Hang Seng Index increased by 0.5%. The major European markets all moved downside while the French CAC 40 Index slumped by 0.9%, the German DAX Index slid by 0.8% and the U.K.'s FTSE 100 Index fell by 0.4%. In the bond market, treasuries came under pressure after ending the previous session roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 7.7 bps to 4.42%.
Business Standard
3 days ago
- Business
- Business Standard
Wall Street Rises Despite Trump's Tariff Threats; Airline and Steel Stocks Lead Gains
Markets closed higher as investors focused on economic data and earnings reports, shrugging off Trump's copper tariff announcement and global trade tension. The Dow climbed 192.34 points (0.4%) to 44,650.64, the Nasdaq inched up 19.33 points (0.1%) to 20,630.66 and the S&P 500 rose 17.20 points (0.3%) to 6,280.46. Despite lingering uncertainty over Donald Trumps trade policies, Wall Street closed higher. Trump announced a 50% tariff on copper starting August 1 via Truth Social, raising concerns. He also shared letters to multiple world leaders outlining further tariff plans. However, investors seem to be discounting his unpredictable announcements. Analysts suggest markets are now refocusing on economic data and corporate performance instead. The Labor Department released a report showing first-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000. Airline stocks substantially moved upwards, with the NYSE Arca Airline Index soaring by 7.8% to its best closing level in four months. Delta Air Lines (DAL) led the sector higher, spiking by 12% after reporting better than expected earnings for the June quarter and reinstating its full-year profit outlook. Steel stocks were significantly strong, as reflected by the 1.8% jump by the NYSE Arca Steel Index. Biotechnology, energy and financial stocks too saw notable strength while software and networking stocks moved to the downside. Asia Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index fell by 0.4%, while China's Shanghai Composite Index climbed by 0.5%. The major European markets also ended the day mixed while the German DAX Index decreased by 0.4%, the French CAC 40 Index rose by 0.3% and the U.K.'s FTSE 100 Index jumped by 1.2%. In the bond market, treasuries recovered from early weakness to end the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.34% after reaching a high of 4.37%.
Business Standard
30-06-2025
- Business
- Business Standard
Wall Street Rallies on U.S. China Trade Optimism but Pulls Back on Canada Tensions
Markets surged early on hopes of global trade progress, with strong retail and airline gains but trimmed gains after Trump ended Canada talks over digital tax. The Dow jumped 432.43 points or 1.0% at 43,819.27, the Nasdaq climbed 105.55 points or 0.5% to 20,273.46 and the S&P 500 rose 32.05 points or 0.5% to 6,173.07. Optimism over a new U.S.-China trade agreement sparked an early rally on Wall Street, with both sides confirming details of a framework to implement the Geneva deal. The U.S. pledged to lift restrictive measures, while China agreed to review export-controlled items. Commerce Secretary Lutnick added that trade deals with ten more nations are expected soon. However, markets fell sharply after President Trump announced an end to talks with Canada over its digital tax, warning of upcoming tariffs. The Commerce Department released a closely watched report that included the Federal Reserve's preferred readings on consumer price inflation. The report showed consumer prices in the U.S. crept up in line with expectations in the month of May while the report also showed core consumer prices rose by slightly more than expected. University of Michigan too released a report showing consumer sentiment in the U.S. improved by slightly more than expected in the month of June. Retail stocks turned in a strong performance, driving the Dow Jones U.S. Retail Index up by 1.8% to its best closing level in over four months. Airline stocks displayed considerable strength , as reflected by the 1.5% gain posted by the NYSE Arca Airline Index. Gold stocks moved sharply lower along with the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 4.0%. Asia-Pacific stocks turned in another mixed performance. Japan's Nikkei 225 Index shot up by 1.4%, while China's Shanghai Composite Index slid by 0.7%. The major European markets all moved to the upside on the day. The French CAC 40 Index surged by 1.8%, the German DAX Index jumped by 1.6% and the U.K.'s FTSE 100 Index climbed by 0.7%. In the bond market, treasuries gave back ground after trending higher over the past several sessions. As a result, the yield on the benchmark ten-year note which moves opposite of its price, rose 3 bps to 4.28%.
Business Standard
25-06-2025
- Business
- Business Standard
Wall Street Rallies as Ceasefire Boosts Sentiment; Tech and Airlines Lead Market Surge
Investor optimism rises amid easing geopolitical tensions and strong sectoral gains, despite weak consumer confidence data. The Nasdaq surged 281.56 points (1.4%) to 19,912.53, the Dow jumped 507.24 points (1.2%) to 43,089.02 and the S&P 500 shot up 67.01 points (1.1%) to 6,092.18. Wall Street extended its gains following President Trump's announcement of a ceasefire between Israel and Iran, easing investor concerns over geopolitical tensions. Despite accusations of violations from both sides, market sentiment remained optimistic. Traders also brushed off Fed Chair Jerome Powells remarks about holding interest rates steady, despite pressure from Trump. The Conference Board released a report showing an unexpected deterioration by consumer confidence in the month of June. Its consumer confidence index fell to 93.0 in June from a revised 98.4 in May. Semiconductor stocks turned in some of the market's best performances, , with the Philadelphia Semiconductor Index soaring by 3.8%. Airline stocks are substantially strong, as reflected by the 3.6% surge by the NYSE Arca Airline Index. Computer hardware, networking and biotechnology stocks too were strong while gold and oil producer stocks bucked the uptrend. Asia-Pacific stocks moved sharply higher. Japan's Nikkei 225 Index shot up by 1.1%, while Hong Kong's Hang Seng Index surged by 2.1%. Most European stocks moved upwards. Germany's DAX Index jumped by 1.6% and France's CAC 40 Index advanced by 1.0%, although the U.K.'s FTSE 100 Index closed only slightly above the unchanged line. In the bond market, treasuries moved higher over the course of the session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, fell 2.7 bps at 4.29%.
Business Standard
17-06-2025
- Business
- Business Standard
Global Markets Rebound Ahead of G7 Summit and Fed Policy Outlook
Wall Street surges with tech and airline stocks leading gains; Asia and Europe follow suit as traders eye trade talks and interest rate projections. The Nasdaq jumped 294.39 points or 1.5% to 19,701.21, the S&P 500 advanced 56.14 points or 0.9% to 6,033.11 and the Dow climbed 317.30 points or 0.8% at 42,515.09. Wall Street rebounded as traders anticipated the upcoming G7 summit in the Canadian Rockies, hoping for progress on global trade deals. Attention also turned to the nearing end of President Trump's 90-day pause on "reciprocal tariffs." Additionally, the Federal Reserve's policy announcement is expected to offer insights into future interest rate decisions. Airline stocks substantial moved upside after moving sharply lower over the past few sessions, with the NYSE Arca Airline Index soaring by 3.3%. Semiconductor stocks are significantly strong, as reflected by the 3% surge by the Philadelphia Semiconductor Index. Computer hardware, financial and telecom stocks also considerable strength while pharmaceutical and oil service stocks bucked the uptrend. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index jumped by 1.3%, while Hong Kong's Hang Seng Index climbed by 0.7%. The major European markets have also moved to the upside on the day while the U.K.'s FTSE 100 Index rose by 0.3%, the French CAC 40 Index and the German DAX Index both advanced by 0.8%. In the bond market, treasuries are showing a lack of direction following the pullback seen last Friday. The yield on the benchmark ten-year note which moves opposite of its price, is currently down by less than a basis point at 4.41%.
