Latest news with #tradetalks
CTV News
2 days ago
- Business
- CTV News
White House claims win as Canada drops digital tax, trade talks resume
Watch CTV U.S. political analyst Eric Ham breaks down the U.S. reaction to Canada's tax retreat, revived trade talks, and possible tariffs ahead.
Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures rise as momentum builds for Trump trade deals, tax bill
US stock futures climbed on Monday amid signs of progress in trade talks, setting up the major gauges for more all-time highs to end one of the most volatile first halves of a year in recent memory. Dow Jones Industrial Average futures (YM=F) rose roughly 0.5%. Contracts on the S&P 500 (ES=F) moved up about 0.4%, while those on the tech-heavy Nasdaq 100 (NQ=F) jumped 0.4%. Stocks are poised to start a holiday-shortened week with fresh records in sight, as hopes rise that the US and its top trading partners are closing in on deals over the sweeping tariffs introduced by President Trump. Canada scrapped a digital services tax targeting US tech companies late on Sunday — just hours before it was set to start collecting payments — in a bid to revive stalled trade negotiations. On Friday, Trump called an abrupt halt to the talks over the tax, describing them as a "blatant attack" on the US. Despite a temporary turn lower, all three major indexes closed higher on Friday. The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) clinched new record highs for the first time since February — the start of the year's tariff-fueled stock swings. The easing in odds of a global trade war comes as a July 9 deadline looms for the resumption of sweeping US "reciprocal" tariffs, which Trump on Sunday said he didn't think he'd need to extend. So far, his administration has hammered only two accords — not full-blown agreements — with China and the UK, as the British tariff deal went into effect on Monday. Meanwhile, market watchers are closely following Senate negotiations over Trump's proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation. The Congressional Budget Office estimates it would add $3.3 trillion to the deficit over a decade, as it stands. The Senate is set to vote on dozens of amendments in a marathon session on Monday. Looking ahead, the June jobs report on Thursday will be a highlight, as markets increasingly grow optimistic that the Federal Reserve could cut interest rates soon. But the week's trading will be cut short, as markets will close at 1 p.m. on Thursday and remain shut on Friday for the Fourth of July holiday. Several altcoins are faltering this year as bitcoin's share of the crypto market has climbed to 64%, the highest level since January 2021. Bloomberg reports: Read more here. INmune Bio stock (INMB) tanked 60% in premarket trading on Monday after the company said its experimental drug, XPro, failed to improve cognitive functions in patients with early stages of Alzheimer's in a mid-stage study. The drug is designed to target and inhibit inflammatory signals associated with a type of protein called tumor necrosis factor without suppressing the immune system, Reuters reported. Read more here. Disney stock (DIS) rose about 2% in premarket trading Monday after Jefferies analyst James Heaney upgraded the stock. Heaney sees Disney's cruise business, content slate, and parks business fueling a rally in shares over the summer. Yahoo Finance's Brian Sozzi writes: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed over the weekend and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Nvidia insiders cash out $1bn worth of shares Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half. It's a dramatic sign of how the region's markets are staging a comeback after more than a decade in the doldrums. Bloomberg reports: Read more here. Canada has scrapped its planned digital services tax on US tech firms late on Sunday, just hours before it was due to come into effect. The move aims to revive stalled trade talks with the US, which President Trump suddenly halted on Friday over the tax, calling it a "blatant attack" on American tech companies. US stock futures rose as investors welcomed the news. Benchmark stock indexes in Tokyo and Shanghai also moved higher amid optimism that the US and its top trading partners can hammer out trade deals. Prime Minister Mark Carney and Trump now plan to reach a deal by July 21, Canada's finance ministry said. Trump warned on Friday that he would set new tariffs on Canadian goods within a week, risking fresh tension between the two countries. The White House has set a July 9 deadline for trading partners to broker deals with the US over the sweeping 'reciprocal' tariff rates announced in early April. The 3% tech tax would have hit firms like Apple (AAPL), Google (GOOG), and Amazon (AMZN) starting on Monday. Canada will now bring forward legislation to cancel the tax. "The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians," a statement from the Canadian finance ministry said. "Canada's preference has always been a multilateral agreement related to digital services taxation." Oil prices fell overnight Sunday as global markets adjusted to the easing of tensions in the Middle East, in combination with a commitment from OPEC+ to increase supply in August. Reuters reports: Read more here. Several altcoins are faltering this year as bitcoin's share of the crypto market has climbed to 64%, the highest level since January 2021. Bloomberg reports: Read more here. INmune Bio stock (INMB) tanked 60% in premarket trading on Monday after the company said its experimental drug, XPro, failed to improve cognitive functions in patients with early stages of Alzheimer's in a mid-stage study. The drug is designed to target and inhibit inflammatory signals associated with a type of protein called tumor necrosis factor without suppressing the immune system, Reuters reported. Read more here. Disney stock (DIS) rose about 2% in premarket trading Monday after Jefferies analyst James Heaney upgraded the stock. Heaney sees Disney's cruise business, content slate, and parks business fueling a rally in shares over the summer. Yahoo Finance's Brian Sozzi writes: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed over the weekend and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Nvidia insiders cash out $1bn worth of shares Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half. It's a dramatic sign of how the region's markets are staging a comeback after more than a decade in the doldrums. Bloomberg reports: Read more here. Canada has scrapped its planned digital services tax on US tech firms late on Sunday, just hours before it was due to come into effect. The move aims to revive stalled trade talks with the US, which President Trump suddenly halted on Friday over the tax, calling it a "blatant attack" on American tech companies. US stock futures rose as investors welcomed the news. Benchmark stock indexes in Tokyo and Shanghai also moved higher amid optimism that the US and its top trading partners can hammer out trade deals. Prime Minister Mark Carney and Trump now plan to reach a deal by July 21, Canada's finance ministry said. Trump warned on Friday that he would set new tariffs on Canadian goods within a week, risking fresh tension between the two countries. The White House has set a July 9 deadline for trading partners to broker deals with the US over the sweeping 'reciprocal' tariff rates announced in early April. The 3% tech tax would have hit firms like Apple (AAPL), Google (GOOG), and Amazon (AMZN) starting on Monday. Canada will now bring forward legislation to cancel the tax. "The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians," a statement from the Canadian finance ministry said. "Canada's preference has always been a multilateral agreement related to digital services taxation." Oil prices fell overnight Sunday as global markets adjusted to the easing of tensions in the Middle East, in combination with a commitment from OPEC+ to increase supply in August. Reuters reports: Read more here. Sign in to access your portfolio
Yahoo
2 days ago
- Business
- Yahoo
Stock market today: Dow, S&P 500 and Nasdaq futures rise as trade deal hopes lift stocks toward more records
US stock futures climbed on Monday amid signs of progress in trade talks, setting up the major indexes for more all-time highs to end one of the most volatile first halves of a year in recent memory. Dow Jones Industrial Average futures (YM=F) rose 0.5%. Contracts on the S&P 500 (ES=F) also gained roughly 0.5%, while those on the tech-heavy Nasdaq 100 (NQ=F) jumped 0.7%. Stocks are poised to start a holiday-shorted week on a high note, fueled in part by easing fears of a global trade war. On Friday, all three major indexes closed higher, with the S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) reaching new record highs for the first time since February — the start of the year's tariff-fueled stock swings. Canada scrapped its digital services tax targeting US technology firms late on Sunday, just hours before it was due to take effect, in a bid to advance stalled trade negotiations. A late-Friday dip in stocks was triggered by Trump's abrupt halt to talks with Canada, citing its digital tax policy. A July 9 deadline looms before the possible resumption of Trump's unilateral tariffs, which Trump on Sunday said he didn't think he'd "need to" extend. India has extended its Washington visit to finalize a deal, and Trump administration officials last week confirmed a trade framework with China was in place, bolstering investor sentiment. Meanwhile, market watchers are closely following Senate negotiations over Trump's proposed $4.5 trillion tax cut bill, as Republican leaders race to persuade party holdouts to back the legislation. The Congressional Budget Office estimates it would add $3.3 trillion to the deficit over a decade, as it stands. The Senate is set to vote on dozens of amendments in a marathon session on Monday. Markets will close at 1 p.m. on Thursday and remain shut on Friday for the Fourth of July. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed overnight and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half. It's a dramatic sign of how the region's markets are staging a comeback after more than a decade in the doldrums. Bloomberg reports: Read more here. Canada has scrapped its planned digital services tax on US tech firms late on Sunday, just hours before it was due to come into effect. The move aims to revive stalled trade talks with the US, which President Trump suddenly halted on Friday over the tax, calling it a "blatant attack" on American tech companies. US stock futures rose as investors welcomed the news. Benchmark stock indexes in Tokyo and Shanghai also moved higher amid optimism that the US and its top trading partners can hammer out trade deals. Prime Minister Mark Carney and Trump now plan to reach a deal by July 21, Canada's finance ministry said. Trump warned on Friday that he would set new tariffs on Canadian goods within a week, risking fresh tension between the two countries. The White House has set a July 9 deadline for trading partners to broker deals with the US over the sweeping 'reciprocal' tariff rates announced in early April. The 3% tech tax would have hit firms like Apple (AAPL), Google (GOOG), and Amazon (AMZN) starting on Monday. Canada will now bring forward legislation to cancel the tax. "The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians," a statement from the Canadian finance ministry said. "Canada's preference has always been a multilateral agreement related to digital services taxation." Oil prices fell overnight Sunday as global markets adjusted to the easing of tensions in the Middle East, in combination with a commitment from OPEC+ to increase supply in August. Reuters reports: Read more here. Yahoo Finance's Allie Canal reports: Read more here. Earnings: No notable earnings releases. Economic data: MNI Chicago PMI (June); Dallas Fed manufacturing activity Here are some of the biggest stories you may have missed overnight and early this morning: Warring GOP puts Trump tax bill to marathon Senate vote today Canada scraps digital services tax that Trump slammed Disney's stock has bagged a Jeffries upgrade — here's why Week ahead: Crucial jobs report looms with stocks at records Trump: TikTok buyer group found, needs China's OK Bitcoin soars, altcoins fade in $300 billion crypto shakeout China's economy shows surprising signs of strength Yahoo Finance's Josh Schafer lays out what investors should know about the week ahead: Read more here. Here are some top stocks trending on Yahoo Finance in premarket trading: Hewlett Packard Enterprise Company (HPE) stock rose 6% in premarket trading on Monday following the news that HPE and Juniper Networks have reached an agreement with the US Department of Justice that it will not challenge HPE's acquisition of Juniper. Palantir (PLTR) stock rose 5% before the bell and are trading at an all-time high, up 90% this year. Yahoo Finance Anchor Julie Hyman recently broke down the stock's history on a episode of Market Domination Overtime: Juniper Networks, Inc. (JNPR) stock rose 8% premarket after the DOJ said it would not pursue an investigation into HPE's acquisition of Juniper. As earning season approaches, Goldman Sachs (GS) said on Monday that US profit margins will be tested as investors await to see how President Trump's war has hurt companies. Goldman's David Kostin said Q2 earnings will show the immediate impact of tariffs, which have risen about 10% this year. Most costs will be passed on to consumers, but margins will suffer if firms absorb more than expected. Early results are mixed: General Mills (GIS) stock fell 5% last week due to a weak forecast and tariff warning, while Nike (NKE) rose 15% after announcing it will offset higher duties. Bloomberg News reports: Read more here. European stocks outperformed their US peers by the biggest margin on record in dollar terms during the first half. It's a dramatic sign of how the region's markets are staging a comeback after more than a decade in the doldrums. Bloomberg reports: Read more here. Canada has scrapped its planned digital services tax on US tech firms late on Sunday, just hours before it was due to come into effect. The move aims to revive stalled trade talks with the US, which President Trump suddenly halted on Friday over the tax, calling it a "blatant attack" on American tech companies. US stock futures rose as investors welcomed the news. Benchmark stock indexes in Tokyo and Shanghai also moved higher amid optimism that the US and its top trading partners can hammer out trade deals. Prime Minister Mark Carney and Trump now plan to reach a deal by July 21, Canada's finance ministry said. Trump warned on Friday that he would set new tariffs on Canadian goods within a week, risking fresh tension between the two countries. The White House has set a July 9 deadline for trading partners to broker deals with the US over the sweeping 'reciprocal' tariff rates announced in early April. The 3% tech tax would have hit firms like Apple (AAPL), Google (GOOG), and Amazon (AMZN) starting on Monday. Canada will now bring forward legislation to cancel the tax. "The DST was announced in 2020 to address the fact that many large technology companies operating in Canada may not otherwise pay tax on revenues generated from Canadians," a statement from the Canadian finance ministry said. "Canada's preference has always been a multilateral agreement related to digital services taxation." Oil prices fell overnight Sunday as global markets adjusted to the easing of tensions in the Middle East, in combination with a commitment from OPEC+ to increase supply in August. Reuters reports: Read more here.
Yahoo
3 days ago
- Business
- Yahoo
Canada rescinds digital services tax to resume negotiations with U.S.
OTTAWA — Finance Minister François-Philippe Champagne says Canada is rescinding the digital services tax and will resume trade negotiations with the United States. The announcement was made in a statement following a phone call between Prime Minister Mark Carney and U.S. President Donald Trump. The move comes three days after Trump said he was terminating all trade discussions with Canada because of the tax. Champagne's statement says the tax is being rescinded in anticipation of those trade talks resuming and Canada is still aiming for a deal by July 21 -- the deadline set by Carney and Trump at the G7 summit. A spokeswoman for Carney says Champagne also spoke today with U.S. Treasury Secretary Scott Bessent. The first payment under the digital services tax was to be submitted on Monday, forcing tech giants such as Amazon, Google and Meta to pay a three per cent levy on revenue from their Canadian users. This report by The Canadian Press was first published on June 29, 2025. The Canadian Press
Wall Street Journal
10-06-2025
- Business
- Wall Street Journal
Australia Shares Set to Build on Record
2223 GMT – Australia's S&P/ASX 200 looks set to build on its record close when the local share market opens Wednesday. ASX futures are up by 0.3% ahead of the open, suggesting that the benchmark index will add to Tuesday's 0.8% rise. That carried the ASX to a record, surpassing the mark it set in mid-February before tariff-driven uncertainty roiled global markets. U.S. stocks provided a positive lead after signs of progress in trade talks between U.S. and Chinese officials in London. The S&P 500 rose 0.55%, the Dow Jones Industrial Average gained 0.25%, and the Nasdaq Composite put on 0.6%. (
