Latest news with #SaxoMarkets
Yahoo
08-07-2025
- Business
- Yahoo
FTSE 100 LIVE: Stocks hover as Trump pushes tariff deadline to 1 August
The FTSE 100 (^FTSE) and European indices struggled for direction at the opening bell on Tuesday as president Donald Trump again raised questions about US agreements with world powers on tariffs. Trump posted a barrage of letters to country leaders on Monday, saying he would impose an array of import duties similar to the levels he announced on his notorious "liberation day" in April. The most significant were letters to the leaders of Japan and South Korea informing them of 25% tariffs on imports from their respective countries. In all, Trump posted 14 letters, to countries including South Africa, Malaysia and Thailand, outlining tariffs ranging from 25% to 40%. The White House said Trump signed an executive order delaying the implementation of those tariffs, as well as the sweeping "reciprocal" tariffs on most trade partners, to 1 August. The FTSE 100 (^FTSE) was just above the flatline. Top movers in the index included mining stocks Fresnillo (FRES.L), Glencore (GLEN.L), Antofagasta (ANTO.L) and Endeavour (EDV.L), which led gains. The DAX (^GDAXI) in Germany wavered between gains and falls. France's CAC 40 (^FCHI) fell 0.1%. The dollar index ( which pits the greenback against a basket of currencies, fell 0.1%. Neil Wilson, UK investor strategist at Saxo Markets, said: Aaron Hill, chief analyst at FP Markets, said: Our US team writes: US stock futures mostly rose on Tuesday as President Trump threatened stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies. Futures attached to the Dow Jones Industrial Average (YM=F) hovered near the baseline, while S&P 500 futures eked out 0.1% gains (ES=F) and contracts on the tech-heavy Nasdaq 100 (NQ=F) rose 0.3%. On Monday, stocks fell as Trump posted to Truth Social letters addressed to the leaders of 14 countries threatening 25% to 40% tariffs starting August 1. Key US trading partners Japan and South Korea were among the group, as well as Malaysia, South Africa, and Indonesia. The president also signed an Executive Order Monday officially moving his July 9 deadline for the resumption of "Liberation Day" tariff rates to August 1. Hello again. It's Lucy Harley-McKeown. We're back fo another day of business and markets news. On the economic news slate for today: - Interest rate decision from the Reserve Bank of Australia - US NFIB smaller companies survey And company earnings: - Unite Group (UTG.L) first-half trading statement Let's get to it. Neil Wilson, UK investor strategist at Saxo Markets, said: Aaron Hill, chief analyst at FP Markets, said: Our US team writes: US stock futures mostly rose on Tuesday as President Trump threatened stiff tariffs on imports from more than a dozen countries and delayed the return of sweeping April levies. Futures attached to the Dow Jones Industrial Average (YM=F) hovered near the baseline, while S&P 500 futures eked out 0.1% gains (ES=F) and contracts on the tech-heavy Nasdaq 100 (NQ=F) rose 0.3%. On Monday, stocks fell as Trump posted to Truth Social letters addressed to the leaders of 14 countries threatening 25% to 40% tariffs starting August 1. Key US trading partners Japan and South Korea were among the group, as well as Malaysia, South Africa, and Indonesia. The president also signed an Executive Order Monday officially moving his July 9 deadline for the resumption of "Liberation Day" tariff rates to August 1. Hello again. It's Lucy Harley-McKeown. We're back fo another day of business and markets news. On the economic news slate for today: - Interest rate decision from the Reserve Bank of Australia - US NFIB smaller companies survey And company earnings: - Unite Group (UTG.L) first-half trading statement Let's get to it. Sign in to access your portfolio
The Independent
07-07-2025
- Automotive
- The Independent
Tesla shares drop as ‘investors worry about two things'
Tesla shares dropped by nearly seven per cent in pre-market trading on Monday following CEO Elon Musk 's announcement of plans to launch a new American political party. The drop reflects renewed investor apprehension regarding Musk's focus on Tesla, especially as the electric vehicle manufacturer is already contending with declining sales. Musk's political venture, the 'America Party', comes after a public disagreement with Donald Trump concerning a tax cut and spending bill, which escalated into a social media dispute. Neil Wilson, UK investor strategist at Saxo Markets, highlighted two main concerns: 'one is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk.' Investors and analysts are expressing "a sense of exhaustion" over Musk's political immersion, prompting questions about the Tesla board's ability to manage his outside ventures.
Daily Mail
07-07-2025
- Automotive
- Daily Mail
Tesla stocks tumble as Musk forms new political party
Tesla stock is tumbling — and investors are blaming Elon Musk's latest foray into American politics. Shares in the EV maker slid as much as 7 percent in Monday's pre-market trading, just days after Musk revealed he's launching a new political party, the 'America Party,' and reigniting his feud with former boss President Donald Trump. 'Investors are worried about two things,' Neil Wilson, a UK investor strategist at Saxo Markets, said. 'One is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk.' The Tesla CEO, who once led Trump's Department of Government Efficiency, called out the administration again over its recently-passed 'One Big, Beautiful Bill.' Musk has critiziced the sweeping package for its projected $5 trillion price tag, that is likely to massively increase the federal deficit. He said it is in response to the recently-signed 'One Big, Beautiful Bill,' which is expected to add an estimated $3 trillion to $5 trillion to the federal deficit. 'What the heck was the point of DOGE if he's just going to increase the debt by $5 trillion,' Musk posted on X. President Trump fired back at his former advisor on his own platform, Truth Social. 'I am saddened to watch Elon Musk go completely "off the rails," essentially becoming a TRAIN WRECK over the past five weeks,' the President wrote. Until recently, Musk had promised to retreat from politics and refocus on Tesla. That pledge sent shares soaring in May, with investors hopeful the company could finally stabilize after months of slumping EV sales and missed product deadlines. This is an important year for Tesla. Automotive industry analysts have been worried about EV sales because the Republican bill ends the tax credit handed to EV consumers. Meanwhile, the company is rolling out its long-delayed self-driving technology, with the first autonomous vehicles reaching Texas roads in late June. But investors have watched as tensions between Trump and Musk, two men who forged an improbable political coalition in the 2024 Presidential election, cratered that once sky-high stock price. In late June, Musk said the Republican tax bill would send the country into 'DEBT SLAVERY,' and vowed to bankroll primary challenges against Trump-endorsed candidates . At the time, Trump hit back with a series of threats , suggesting the federal government could launch investigations into Musk's companies. He even hinted at deporting Musk, who was born in South Africa. That clash sent Tesla's stock on a similar downward trajectory. Monday's market drop mirrors the fallout from that earlier spat , with shares ultimately ending that day down more than 5 percent. Still, some analysts aren't concerned. They believe investors have gotten used to this type of price fluctuation.
Daily Mail
07-07-2025
- Automotive
- Daily Mail
Wall Street punishes Tesla as Musk starts an anti-Trump political party: 'Off the rails'
Tesla stock is tumbling — and investors are blaming Elon Musk's latest foray into American politics. Shares in the EV maker slid as much as 7 percent in Monday's pre-market trading, just days after Musk revealed he's launching a new political party, the 'America Party,' and reigniting his feud with former boss President Donald Trump. 'Investors are worried about two things,' Neil Wilson, a UK investor strategist at Saxo Markets, said. 'One is more Trump ire affecting subsidies and the other, more importantly, is a distracted Musk.' The Tesla CEO, who once led Trump's Department of Government Efficiency, called out the administration again over its recently-passed 'One Big, Beautiful Bill.' Musk has critiziced the sweeping package for its projected $5 trillion price tag, that is likely to massively increase the federal deficit. He said it is in response to the recently-signed 'One Big, Beautiful Bill,' which is expected to add an estimated $3 trillion to $5 trillion to the federal deficit. 'What the heck was the point of DOGE if he's just going to increase the debt by $5 trillion,' Musk posted on X. President Trump fired back at his former advisor on his own platform, Truth Social. 'I am saddened to watch Elon Musk go completely "off the rails," essentially becoming a TRAIN WRECK over the past five weeks,' the President wrote. Until recently, Musk had promised to retreat from politics and refocus on Tesla. That pledge sent shares soaring in May, with investors hopeful the company could finally stabilize after months of slumping EV sales and missed product deadlines. This is an important year for Tesla. Automotive industry analysts have been worried about EV sales because the Republican bill ends the tax credit handed to EV consumers. Meanwhile, the company is rolling out its long-delayed self-driving technology, with the first automonous vehicles reaching Texas roads in late June. But investors have watched as tensions between Trump and Musk, two men who forged an improbable political coalision in the 2024 Presidential election, cratered that once sky-high stock price. In late June, Musk said the Republican tax bill would send the country into 'DEBT SLAVERY,' vowed to bankroll primary challenges against Trump-endorsed candidates. At the time, Trump hit back with a series of threats, suggesting the federal government could launch investigations into Musk's companies. Tesla's stock price has plunged twice, largely due to his increasingly heated rhetoric against his former political ally Over the weekend, Musk said he created a new political party - but the businessman would have to file paperwork with elections officials He even hinted at deporting Musk, who was born in South Africa. That clash sent Tesla's stock on a similar downward trajectory. Monday's market drop mirrors the fallout from that earlier spat, with shares ultimately ending that day down more than 5 percent. Still, analysts aren't concerned. They believe investors have gotten used to this type of price fluctuation. 'For Tesla investors, volatility is a way of life,' Bret Kenwell, an investment analyst at eToro, told 'While the path has been bumpy, it's been rewarding, with Tesla still sporting a market cap of almost $1 trillion.'
Yahoo
07-07-2025
- Automotive
- Yahoo
Tesla stock tanks after Trump dismisses Musk's new political party plan and calls him ‘off the rails'
Shares in Tesla tanked by as much as 7.6% in premarket trading Monday after its CEO Elon Musk said he is forming a new American political party, provoking an irate response from US President Donald Trump. Tesla stock (TSLA) later recovered some of its earlier losses but was still 6.5% down by 7:48 a.m. ET. 'I'm saddened to watch Elon Musk go completely 'off the rails,' essentially becoming a TRAIN WRECK over the past five weeks,' Trump wrote on his Truth Social platform late Sunday, also mentioning Musk's Saturday announcement that he is forming a political party to rival the main Republican and Democratic parties. Ahead of boarding Air Force One in New Jersey Sunday, Trump also called Musk's announcement 'ridiculous' and said it would sow confusion. Neil Wilson, a strategist at UK trading platform Saxo Markets, said Monday that Tesla investors were concerned on two fronts: firstly, that further friction between Musk and Trump would lead to additional cuts to US government EV subsidies and, secondly, that Musk appeared 'distracted.' 'Investors had cheered Musk stepping back from frontline politics but are now worried he's going to (be) sucked back in and take his eye off Tesla,' Wilson wrote in a note. Trump and Musk began trading barbs in early June after the Tesla CEO criticized Trump's so-called 'Big, Beautiful Bill' — a massive tax and domestic policy bill, which the president signed into law last week. Musk has argued that the policies will add trillions of dollars to the federal budget deficit. 'When it comes to bankrupting our country with waste & graft, we live in a one-party system, not a democracy,' Musk said on his social media platform, X, Saturday. 'Today, the America Party is formed to give you back your freedom.' Trump, in his Sunday post, said third political parties 'have never succeeded in the United States' and that 'the one thing (they) are good for is the creation of Complete and Total DISRUPTION & CHAOS.' Tesla's fortunes have taken a turn in recent months as it has grappled with intensifying competition from rival EV makers and the fallout from Musk's foray into US politics. Last week, the company reported a record fall in second-quarter sales, selling 13.5% fewer vehicles compared with the same period in 2024. For that year, Tesla has also reported its first-ever annual decline in sales as a public company. The drop was small — around 1% — though it marks a striking turnaround for an automaker historically accustomed to robust sales growth. Notably, Tesla is poised to lose its title as the world's largest EV maker, based on annual sales, to Chinese automaker BYD, even though BYD has not entered the US market. Meanwhile, Musk's recent involvement at the wheel of the US government, helming the Department of Government Efficiency and spearheading mass layoffs of federal workers, has, among other controversies, sparked protests outside Tesla's showrooms worldwide. In May, Musk announced he would step down from his government position, raising hopes among investors that he will now have more time to work on his companies, which include SpaceX and X. But the billionaire's feud with Trump, and likely upcoming attempts to woo voters to his new party, have thrust him back into the political arena. The tumult has weighed on Tesla's stock, with the company's shares having shed almost 23% of their value so far this year. CNN's Michael Williams, John Towfighi and Chris Isidore contributed reporting.
