Latest news with #zig-zagged
Sky News AU
7 days ago
- Business
- Sky News AU
ASX 200 zig-zags as investors await US President Donald Trump's Liberation Day tariff suspension to finish this week
The ASX 200 has zig-zagged as investors brace for Donald Trump's 90-day tariff pause to end this week and await another cut from the RBA. Materials companies led the charge in the first 45 minutes of trading on Monday with Origin Energy jumping 5.7 per cent and Bellevue Gold adding 5.4 per cent while finance company HUB24 has added about two per cent per cent. Gold producer Northern Star fell six per cent after its latest production report showed growth towards the bottom end of its forecast. Investors await Trump's 90-day pause on his sweeping 'Liberation Day' tariffs to finish on July 9 as major US trading partners rush to secure deals to avoid hefty levies. US Treasury Secretary Scott Bessent signaled some countries without an agreement by the deadline could secure a three-week extension to negotiate further. Investors also await the Reserve Bank of Australia's upcoming cash rate call where the central bank is tipped to deliver the third rate cut of 2025. This could mark the first consecutive cut since the RBA delivered an emergency cut in March 2020. The Nasdaq grew one per cent on Friday while the S&P 500 and the Dow Jones both rose 0.8 per cent. London's FTSE 250 Index fell 0.7 per cent, Germany's DAX dropped 0.6 per cent and the STOXX Europe 600 shed 0.5 per cent. New Zealand's NZX 50 Index sank before almost recovering its losses on Monday while Japan's Nikkei 225 has slumped 0.3 per cent.
Sky News AU
07-05-2025
- Business
- Sky News AU
ASX 200 zig-zags on Wednesday following confirmation that US, Chinese officials will discuss trade relations this week
Aussie stocks have zig-zagged on open on Wednesday amid confirmation US and Chinese officials will meet in Switzerland this week to discuss their ongoing trade war. The ASX 200 rose 0.2 per cent when markets opened, but had lost almost all of that gain by 11am, with ASX futures down 0.4 per cent. Boss Energy is up 7.1 per cent and Vault Minerals has risen six per cent while Clarity Pharmaceuticals is down 5.9 per cent. Those movements were indicative of the general swings in those sectors, with energy and minerals stocks up 1.4 and 1.2 per cent respectively, while the health sector has slumped 1.1 per cent. It comes ahead of US treasury secretary Scott Bessent and trade representative Jamieson Greer meeting with Chinese officials on Thursday in Switzerland to discuss trade relations. Mr Bessent will meet with an official the Treasury department has called China's 'lead representative on economic matters', in the first confirmed trade talks since Donald Trump's "Liberation Day" announcements. The meetings have bolstered investors' hopes of a cooling in the trade war between the two countries. Wall Street suffered across the board losses on Tuesday, with the tech-heavy Nasdaq sinking 0.9 per cent, the Dow Jones shedding almost one per cent and the S&P 500 down 0.8 per cent. Sky News Business Reporter Ingrid Willinge said the slump in the US came as major car maker Ford warned of a massive hit to its earnings from the trade war. 'It was a horrible night on Wall Street, it took a hit (with) trade wars,' Willinge said. 'Ford said they were going to take a US$1b hit on tariffs. Of course, that did reverberate through Wal Street.' Since opening on Wednesday, the NZX 50 Index is up 0.4 per cent. London's FTSE 100 finished relatively flat on Tuesday as Germany's DAX and the EURO STOXX 50 both slumped 0.4 per cent.
Sky News AU
06-05-2025
- Business
- Sky News AU
ASX 200 see-saws on open after S&P 500 breaks longest winning streak in 20 years following mixed messages on tariffs
The ASX 200 has zig-zagged in the early moments on trading on Tuesday after a slump on Wall Street where the S&P 500 broke its longest winning streak in two decades. The Australian stock market's largest tech company WiseTech sank more than five per cent before recovering some of the loss after flagging possible headwinds from global economic uncertainty and the trade war. Further uncertainty over Donald Trump's trade war with China fuelled a drop in the US as the US President told reporters he had no intention to speak to Chinese President Xi Jinping. He also mentioned the US 'could very well' announce some trade deals this week, but tempered expectations of a downturn in trade hostility by stressing the tariff deals would come on his terms. 'We're negotiating with many countries but at the end of this I'll set my own deals because I set the deal, they don't set the deal, I set the deal,' he told reporters Sunday. 'This is not like a big deal that's gonna be signed — in some cases we'll sign them, but we don't have to sign them. I'll be setting the deal, I'll be setting the tariff.' Wall Street slumped on Monday (US Time) with the S&P 500 breaking its nine-day long winning streak, its longest since 2004, which saw the index gain more than 10 per cent. It fell 0.6 per cent while the Nasdaq sank 0.7 per cent and the Dow Jones dropped 0.2 per cent. The NZX 50 Index is relatively flat since opening on Tuesday. London's FTSE 100 rose 1.2 per cent, the EURO STOXX 50 finished flat and Germany's DAX rose 1.1 per cent on Monday.
