Latest news with #CAC40
Chicago Tribune
13 hours ago
- Business
- Chicago Tribune
US stocks hang around their records following mixed profit reports
NEW YORK — Wall Street is hanging around its records following some mixed profit reports, as General Motors and other big U.S. companies give updates on how much President Donald Trump's tariffs are hurting or helping them. The S&P 500 was flat in early trading Tuesday, a day after inching to its latest all-time high. The Dow Jones Industrial Average was down 30 points, and the Nasdaq composite was down 0.1% from its own record. General Motors dropped 3.6% despite reporting a stronger profit than expected. The automaker said it's still expecting a $4 billion to $5 billion hit this year from Street dipped in premarket trading Tuesday, but indexes remained near record highs on another big day for corporate earnings reports. Futures for the S&P 500 lost 0.1% before the bell, while futures for the Dow Jones Industrial Average and Nasdaq were each off 0.2%. Homebuilders were the early winners, with D.R. Horton climbing nearly 7% after easily surpassing Wall Street's third-quarter sales and profit expectations. PulteGroup also topped analysts' forecasts, rising 1.7%, while Lennar rode the wave of optimism and was up 2.1%. General Motors shed 3.6% in the early going after the automaker reported that its profit and revenue declined from the previous quarter. GM maintained its full-year guidance from May, however that forecast was cut as the company braced for a potential impact from auto tariffs as high as $5 billion in 2025. Shares of Coca-Cola Co. were largely unchanged after the soda giant beat Wall Street profit expectations but fell a tad short on revenue projections. Coke said that its pricing rose 6% for the April-June period, making up for the 1% decline in case volumes both globally and in North America. Elsewhere, in Europe at midday, Germany's DAX lost 1.1%, the CAC 40 in Paris gave up 0.9% and Britain's FTSE 100 was nearly unchanged. In Asian trading, Japan's benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition's loss of its upper house majority in Sunday's election. The Nikkei 225 shed 0.1% to 39,774.92. Analysts said the market initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback. But the election's outcome has added to political uncertainty and left his government without the heft needed to push through legislation. A breakthrough in trade talks with the U.S. might win Ishiba a reprieve, but so far there's been scant sign of progress in negotiating away the threat of higher tariffs on Japan's exports to the U.S. beginning Aug. 1. 'Relief may be fleeting. Ishiba's claim to leadership now rests on political duct tape, and history isn't on his side. The last three LDP leaders who lost the upper house didn't last two months,' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere, Hong Kong's Hang Seng rose 0.5% to 25,130.03, while the Shanghai Composite index advanced 0.6% to 3,581.86. South Korea's Kospi sank 1.3% to 3,169.94, with investors concerned over next week's deadline for making a deal with U.S. President Donald Trump or facing 25% tariffs on all the country's exports to the U.S. Many of Trump's stiff proposed tariffs are paused after he extended the deadline to Aug. 1 to allow more time to reach potential trade deals that could lower those rates. Australia's S&P/ASX 200 added 0.1% to 8,677.20. India's Sensex was flat. In Thailand, the SET sank 1.1% after the government named Vitai Ratanakorn as the new future governor of the central bank. He is viewed as likely to be less independent than the current governor, raising concerns about the bank's independence, analysts said. In energy trading, U.S. benchmark crude oil lost 61 cents to $65.34 per barrel, while Brent crude, the international standard, gave up 65 cents to $68.56 per barrel. The U.S. dollar inched up to 147.40 Japanese yen from 147.38 yen. The euro gained to $1.1701 from $1.1696.
Nahar Net
13 hours ago
- Business
- Nahar Net
World markets mixed, Japan shares dip after election leaves Ishiba's future in doubt
World shares were mixed on Tuesday after U.S. stock indexes inched to more records at the start of a week of profit updates from big U.S. companies. Germany's DAX lost 0.9% to 24,086.56 and the CAC 40 in Paris gave up 0.6% to 7,753.96. Britain's FTSE 100 was nearly unchanged at 9,015.35. The future for the S&P 500 lost 0.1% while that for the Dow Jones Industrial Average was unchanged. In Asian trading, Japan's benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition's loss of its upper house majority in Sunday's election. The Nikkei 225 shed 0.1% to 39,774.92. Analysts said the market initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback. But the election's outcome has added to political uncertainty and left his government without the heft needed to push through legislation. A breakthrough in trade talks with the U.S. might win Ishiba a reprieve, but so far there's been scant sign of progress in negotiating away the threat of higher tariffs on Japan's exports to the U.S. beginning Aug. 1. "Relief may be fleeting. Ishiba's claim to leadership now rests on political duct tape, and history isn't on his side. The last three LDP leaders who lost the upper house didn't last two months," Stephen Innes of SPI Asset Management said in a commentary. Elsewhere, Hong Kong's Hang Seng rose 0.5% to 25,130.03, while the Shanghai Composite index advanced 0.6% to 3,581.86. South Korea's Kospi sank 1.3% to 3,169.94, with investors concerned over the Aug. 1 deadline for making a deal with U.S. President Donald Trump or facing 25% tariffs on all the country's exports to the U.S. Australia's S&P/ASX 200 added 0.1% to 8,677.20. India's Sensex was flat. In Thailand, the SET sank 1.1% after the government named Vitai Ratanakorn as the new future governor of the central bank. He is viewed as likely to be less independent than the current governor, raising concerns about the bank's independence, analysts said. Vitai will replace Sethaput Suthiwartnarueput, when his term as governor ends in September. Many of Trump's stiff proposed tariffs are paused after he extended the deadline for talks to allow more time to reach potential trade deals that could lower those rates. Aug. 1 is the next big deadline, at least for now. U.S. stock indexes inched their way to more records on Monday to kick off a week full of profit updates from big U.S. companies. General Motors will report its latest profit results later this week, along with such market heavyweights as Alphabet, Coca-Cola and Tesla. The S&P 500 rose 0.1% and squeaked past its prior all-time high set on Thursday. The Dow edged down less than 0.1% and the Nasdaq composite added 0.4% to its own record. Verizon Communications helped lead the way and rose 4%. The telecom giant reported a stronger profit and higher revenue for the latest quarter than expected and raised its forecasts for the full year. That helped offset a 5.4% drop for Sarepta Therapeutics, which continued to fall after the Food and Drug Administration said on Friday that it asked the company to voluntarily stop all shipments of Elevidys, its gene therapy for Duchenne muscular dystrophy, due to safety concerns. Cleveland-Cliffs rallied 12.4% after the steel producer reported a smaller loss for the spring than analysts expected. It's a major supplier to the auto industry, and Trump's tariffs steer companies hoping to sell cars in the United States toward steel made in the country. In other dealings early Tuesday, U.S. benchmark crude oil lost 67 cents to $65.28 per barrel, while Brent crude, the international standard, gave up 65 cents to $68.56 per barrel. The U.S. dollar rose to 147.55 Japanese yen from 147.38 yen. The euro gained to $1.1701 from $1.1696.
15 hours ago
- Business
Wall Street dips in premarket but remains near record highs as another raft of earnings pours in
Wall Street dipped in premarket trading Tuesday, but indexes remained near record highs on another big day for corporate earnings reports. Futures for the S&P 500 lost 0.1% before the bell, while futures for the Dow Jones Industrial Average and Nasdaq were each off 0.2%. Homebuilders were the early winners, with D.R. Horton climbing nearly 7% after easily surpassing Wall Street's third-quarter sales and profit expectations. PulteGroup also topped analysts' forecasts, rising 1.7%, while Lennar rode the wave of optimism and was up 2.1%. General Motors shed 3.6% in the early going after the automaker reported that its profit and revenue declined from the previous quarter. GM maintained its full-year guidance from May, however that forecast was cut as the company braced for a potential impact from auto tariffs as high as $5 billion in 2025. Shares of Coca-Cola Co. were largely unchanged after the soda giant beat Wall Street profit expectations but fell a tad short on revenue projections. Coke said that its pricing rose 6% for the April-June period, making up for the 1% decline in case volumes both globally and in North America. Elsewhere, in Europe at midday, Germany's DAX lost 1.1%, the CAC 40 in Paris gave up 0.9% and Britain's FTSE 100 was nearly unchanged. In Asian trading, Japan's benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition's loss of its upper house majority in Sunday's election. The Nikkei 225 shed 0.1% to 39,774.92. Analysts said the market initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback. But the election's outcome has added to political uncertainty and left his government without the heft needed to push through legislation. A breakthrough in trade talks with the U.S. might win Ishiba a reprieve, but so far there's been scant sign of progress in negotiating away the threat of higher tariffs on Japan's exports to the U.S. beginning Aug. 1. 'Relief may be fleeting. Ishiba's claim to leadership now rests on political duct tape, and history isn't on his side. The last three LDP leaders who lost the upper house didn't last two months,' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere, Hong Kong's Hang Seng rose 0.5% to 25,130.03, while the Shanghai Composite index advanced 0.6% to 3,581.86. South Korea's Kospi sank 1.3% to 3,169.94, with investors concerned over next week's deadline for making a deal with U.S. President Donald Trump or facing 25% tariffs on all the country's exports to the U.S. Many of Trump's stiff proposed tariffs are paused after he extended the deadline to Aug. 1 to allow more time to reach potential trade deals that could lower those rates. Australia's S&P/ASX 200 added 0.1% to 8,677.20. India's Sensex was flat. In Thailand, the SET sank 1.1% after the government named Vitai Ratanakorn as the new future governor of the central bank. He is viewed as likely to be less independent than the current governor, raising concerns about the bank's independence, analysts said. In energy trading, U.S. benchmark crude oil lost 61 cents to $65.34 per barrel, while Brent crude, the international standard, gave up 65 cents to $68.56 per barrel.
Arab Times
18 hours ago
- Business
- Arab Times
World markets mixed, Japan's shares dip after election leaves Ishiba's future in doubt
BANGKOK, July 22, (AP): World shares were mixed on Tuesday after U.S. stock indexes inched to more records at the start of a week of profit updates from big U.S. companies. Germany's DAX lost 0.5% to 24,186.14 and the CAC 40 in Paris gave up 0.4% to 7,768.46. Britain's FTSE 100 edged 0.1% lower, to 9,009.34. The futures for the S&P 500 and the Dow Jones Industrial Average were virtually unchanged. In Asian trading, Japan's benchmark surged and then fell back as it reopened from a holiday Monday following the ruling coalition's loss of its upper house majority in Sunday's election. The Nikkei 225 shed 0.1% to 39,774.92. Analysts said the market initially climbed as investors were relieved that Prime Minister Shigeru Ishiba vowed to stay in office despite the setback . But the election's outcome has added to political uncertainty and left his government without the heft needed to push through legislation. A breakthrough in trade talks with the US might win Ishiba a reprieve, but so far there's been scant sign of progress in negotiating away the threat of higher tariffs on Japan's exports to the US beginning Aug 1. "Relief may be fleeting. Ishiba's claim to leadership now rests on political duct tape, and history isn't on his side. The last three LDP leaders who lost the upper house didn't last two months,' Stephen Innes of SPI Asset Management said in a commentary. Elsewhere, Hong Kong's Hang Seng rose 0.4% to 25,082.78, while the Shanghai Composite index advanced 0.6% to 3,581.86. South Korea's Kospi sank 1.3% to 3,169.94, with investors concerned over the Aug. 1 deadline for making a deal with U.S. President Donald Trump or facing 25% tariffs on all the country's exports to the US. Australia's S&P/ASX 200 added 0.1% to 8,677.20. India's Sensex gained 0.1%, while In Thailand, the SET sank 1.1% after the government named Vitai Ratanakorn as the new future governor of the central bank. He is viewed as likely to be less independent than the current governor, raising concerns about the bank's independence, analysts said. Vitai will replace Sethaput Suthiwartnarueput, when his term as governor ends in September.
CNBC
a day ago
- Business
- CNBC
European stocks set for another lower open as tariff uncertainty dents sentiment
Shomos Uddin | Moment | Getty Images Good morning from London, and welcome to CNBC's live blog covering all the action and business news in European financial markets on Tuesday. Futures data from IG suggest a negative start to the new trading week for European bourses, with London's FTSE 100 seen opening 0.3% lower, France's CAC 40 down 0.3%, Germany's DAX down 0.4%, and Italy's FTSE MIB 0.4% lower. European bourses have been on edge since U.S. President Donald Trump announced earlier in July that he would impose a 30% tariff on goods imported from the EU starting Aug. 1. The EU said it hopes to strike a trade deal before then but an agreement remains elusive. The bloc's policymakers are reportedly considering retaliatory measures if a deal can't be reached. U.S. Treasury Secretary Scott Bessent said Monday that implementing high tariff rates on countries starting Aug. 1 "will put more pressure on those countries to come with better agreements." — Holly Ellyatt Traders work on the floor at the New York Stock Exchange in New York City, U.S., July 21, 2025. Brendan McDermid | Reuters U.S. stock futures were little changed early Tuesday after the S&P 500 and Nasdaq Composite hit fresh records in Monday's trading session. The S&P 500 rose about 0.1% and the Nasdaq Composite advanced nearly 0.4% yesterday, with both indexes hitting new all-time intraday highs and closing at records, aided by a pre-earnings jump in Alphabet. The Dow underperformed and ended the day marginally lower. Meanwhile, Asia-Pacific stocks traded mixed overnight, with Japanese stocks reopening higher after the ruling coalition lost its majority in the upper house over the weekend. — Holly Ellyatt
