Latest news with #DAX
Zawya
12 hours ago
- Business
- Zawya
Stocks inch up, dollar struggles under weight of Trump tariffs, Fed uncertainty
SINGAPORE - Global stocks edged higher and the dollar was pinned near a three-year low on Wednesday as investors pondered the prospect of U.S. interest rate cuts and the scramble for trade deals ahead of President Donald Trump's July 9 deadline for tariffs. Trump said he was not considering extending the deadline for countries to negotiate trade deals with the United States, and cast doubts again that an agreement could be reached with Japan, although he expects a deal with India. The European Union's trade chief is also expected to hold negotiations this week in Washington to avert higher U.S. tariffs. Europe's STOXX 600 edged up 0.1%, and Germany's DAX climbed 0.3% in early trading. Across the Atlantic, futures tracking the S&P 500 pointed to a higher open after the benchmark index eased from its record high in the previous session. MSCI's broadest index of Asia-Pacific shares outside Japan witnessed a choppy session earlier in the day and was last up 0.1%. However, trade ambiguities weighed on Japanese stocks that lost 0.5%. "You've seen it with other trade negotiations that they take years if you want to do them properly," said Matthias Scheiber, senior portfolio manager and the head of the multi-asset solutions team at Allspring Global Investments. "It's not something you negotiate within a week. I think that's also what the U.S. is realizing now. If the tariffs get ramped up again and the situation sours, short-term, we can definitely see some volatility." Data on Tuesday showed the U.S. labour market remained resilient with a rise in job openings for May, sharpening the focus on the payrolls report due on Thursday as investors try to gauge when the Federal Reserve is likely to cut rates next. Fed Chair Jerome Powell, under fire from Trump to cut rates immediately, reiterated that the U.S. central bank plans to "wait and learn more" about the impact of tariffs on inflation before lowering interest rates. Traders are pricing in about 64 basis points of cuts this year from the Fed, with the odds of a move in July at 21%. The dollar index, which measures the U.S. currency against six rivals, hovered near its lowest since early 2022 and was last at 96.705. Analysts have said that any signs of labour market weakness could further weigh on the greenback. TRUMP'S BILL Investor focus over the last few days has pivoted to the progress of Trump's massive tax-and-spending bill, which is expected to add $3.3 trillion to the national debt, slash taxes and reduce social safety net programmes. The legislation heads to the House of Representatives for possible final approval after U.S. Senate Republicans passed it by the narrowest of margins. The bill has stoked fiscal worries, but the reaction was relatively muted in bond markets after it passed the Senate. Aninda Mitra, head of Asia macro strategy at BNY Investment Institute, said the legislation solidifies a steady deterioration of the fiscal position and the debt trajectory of the U.S. government. "The near-term impact is mostly in the price, but the uncertainty factor could keep term premia elevated. We don't think long-term yields will fall back materially in the 6-12 month horizon." Uncertainties about the outlook on public finances, trade and interest rates have caused investors to flee U.S. assets and look for alternatives. This was evident in the U.S. dollar's 10% loss, its worst first-half performance since the 1970s. In commodities, spot gold slipped 0.2% to $3,331 per ounce, after surging 1% in the previous session. The yellow metal is up 27% this year on safe-haven flows.
CNBC
19 hours ago
- Business
- CNBC
European markets set to open higher as traders assess global trade, economic outlook
General view of the City of London skyline, the capital's financial district, in October. Sopa Images | Lightrocket | Getty Images Welcome to CNBC's live blog covering all the action in European financial markets on Wednesday, as well as the latest regional and global business news, data and earnings. Futures data from IG suggests European markets will open higher, with London's FTSE looking set to open 0.2% higher at 8,804, Germany's DAX 0.4% higher at 23,803, France's CAC 40 up 0.5% at 7,702 and Italy's FTSE MIB up 0.6% at 39,841. The positive start expected in Europe comes as global markets assess the status of trade talks and the prospect of deals before U.S. President Donald Trump's 90-day reprieve from higher import duties expires on July 9. Traders are also digesting the latest comments from U.S. Federal Reserve Chair Jerome Powell, who said the central bank would have already cut interest rates if it weren't for U.S. President Donald Trump's tariff initiatives. Trump has repeatedly criticized Powell for the central bank's rate policy. U.S. stock futures were little changed overnight, after investors began the second half with a reduced appetite for technology stocks. Singapore stocks hit a record high overnight amid mixed trading in the Asia-Pacific region. — Holly Ellyatt European Central Bank President Christine Lagarde arriving for the morning session at the ECB Forum on Central Banking 2025 in Penha Longa Resort on July 1 in Sintra, Portugal. Horacio Villalobos | Corbis News | Getty Images European traders will be keeping an eye on more action from the European Central Bank forum in Sintra, Portugal, on Wednesday, with ECB President Christine Lagarde due to address policymakers today. CNBC has interviewed a number of central bank governors and officials at the forum, including ECB Chief Economist Philip Lane, Portugal's central bank Governor Mario Centeno and q It's widely expected that the ECB will lower its key rate, the deposit facility rate, in September, after data released Tuesday showed the euro zone inflation rate hit the central bank's 2% target. On the data front, unemployment figures are due from Spain, Italy and the wider European region. There are no major earnings reports in Europe on Wednesday. — Holly Ellyatt
Malaysia Sun
a day ago
- Business
- Malaysia Sun
Malaysia's regulator seeks feedback on digital asset exchange enhancements
Xinhua 01 Jul 2025, 21:45 GMT+10 KUALA LUMPUR, July 1 (Xinhua) -- The Securities Commission Malaysia has published a consultation paper to seek public feedback on proposed enhancements to its regulatory framework for Digital Asset Exchange (DAX). The regulator said in a statement that the proposals aimed to enhance competitiveness of Malaysia's regulated digital asset market, improve investor protection and strengthen the resilience and integrity of DAX operators. Since the introduction of the DAX framework in 2019, the commission has observed steady growth in Malaysia's digital asset industry with 2024 being the highest total trading value of 13.9 billion ringgit (3.32 billion U.S. dollars), an increase of 2.6 times from 2023. According to the statement, the public consultation period will run through Aug. 11, 2025.
Canada News.Net
a day ago
- Business
- Canada News.Net
U.S. stick markets diverge Tuesday, Dow ends 400 points ahead
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central bank signals, and macroeconomic data. While U.S. blue chips rallied, tech stocks stumbled, and European markets saw uneven trading. Meanwhile, emerging markets in Latin America and the Middle East posted strong gains. Wall Street: Dow Rises 400 Points, Nasdaq Drops 167 Points Canada - TSX Closes 164.79 Points Higher TSX Composite (^GSPTSE): +164.79 (+0.62 percent) to 26,857.11 Europe: DAX Drops, FTSE Edges Higher FTSE 100 (^FTSE): +24.37 (+0.28 percent) to 8,785.33 DAX (^GDAXI): -236.32 (-0.99 percent) to 23,673.29 CAC 40 (^FCHI): -3.32 (-0.04 percent) to 7,662.59 EURO STOXX 50 (^STOXX50E): -20.81 (-0.39 percent) to 5,282.43 BEL 20 (^BFX): +20.76 (+0.46 percent) to 4,496.78 Asia and Pacific: Nikkei Tumbles, Taiwan Outperforms 🌏 Asia and Pacific Nikkei 225 (^N225): 39,986.33 │ -501.06 (-1.24%) (Japan slumps) Hang Seng (^HSI): 24,072.28 │ -211.87 (-0.87%) TWSE (^TWII): 22,553.72 │ +297.70 (+1.34%) (Top gainer) S&P/ASX 200 (^AXJO): 8,541.10 │ -1.20 (-0.01%) All Ordinaries (^AORD): 8,772.00 │ -1.00 (-0.01%) (Australia flat) NZX 50 (^NZ50): 12,734.53 │ +131.71 (+1.05%) (New Zealand jumps) KOSPI (^KS11): 3,089.65 │ +17.95 (+0.58%) Sensex (^BSESN): 83,697.29 │ +90.83 (+0.11%) IDX (^JKSE): 6,915.36 │ -12.32 (-0.18%) KLSE (^KLSE): 1,541.53 │ +8.57 (+0.56%) (Malaysia gains) Middle East & Africa: Strong Gains in Egypt, South Africa EGX 30 (^CASE30): +108.70 (+0.33 percent) to 32,707.20 (Cairo) TA-125 (^ +2.53 (+0.08 percent) to 3,025.03 (Tel Aviv) Top 40 USD (^ +70.87 (+1.32 percent) to 5,439.60 (Johannesburg) Latin America: Argentina's MERVAL Soars Bovespa (^BVSP): +694.84 (+0.50 percent) to 139,549.44 IPC Mexico (^MXX): +362.94 (+0.63 percent) to 57,813.82 MERVAL (^MERV): +36,268.62 (+1.82 percent) to 2,031,093.12 (Best performer globally) Currencies & Global Benchmarks U.S. Dollar Index ( -0.21 (-0.22 percent) to 96.66 Euro Index (^XDE): +0.23 (+0.19 percent) to 118.03 MSCI Europe (^125904-USD-STRD): +2.70 (+0.11 percent) to 2,419.61 Key Takeaways Tech Weighs on Nasdaq: Rising yields hit megacap tech, dragging the index down. Asia Divergence: Taiwan (+1.34%) and NZ (+1.05%) offset Japan's (-1.24%) slump. EM Shine: Argentina's MERVAL (+1.82%) and South Africa (+1.32%) surged.
a day ago
- Business
Global shares mostly lower a day after US markets continued improbable rally
MANILA, Philippines -- Global shares are mostly lower Tuesday a day after U.S. stocks continued a stunning recovery from a springtime sell-off of roughly 20%. Britain's FTSE 100 gained 0.72% to 8,798.91, while Germany's DAX shed 0.4% to 23,809.62. In Paris, the CAC 40 dropped 0.5% to 7,629.65. After another big day for U.S. markets, futures for the S&P shed 0.2% and that for the Dow Jones Industrial Average edged 0.1% lower. In Asian trading, Japan's Nikkei 225 fell 1.2% to 39,986.33 despite positive results of the central bank's quarterly Tankan survey which showed a better than expected improvement in business sentiment among large manufacturers. The Shanghai Composite index added 0.4% to 3,457.75 after China's official manufacturing purchasing managers index, or PMI, rose to a three-month high of 49.7 in June while the PMI for services and other non-manufacturing businesses also rose to a three-month high of 50.5. Hong Kong's stock market was closed on Tuesday. South Korea's KOSPI Composite Index rose 0.6% to 3,089.65. The government reported that exports bounced back in June, helped by strong demand for semiconductors, ships and health products. 'Automobile and automotive parts exports also gained. Strong electric vehicle exports to the EU and solid used-car exports partially offset the decline of U.S. exports. However, we expect auto exports to remain soft due to tariffs and increased production in the U.S.,' Min Joo Kang of ING Economics said in a report. Australia's S&P/ASX 200 edged down 0.1% to 8,541.10. Thailand's SET jumped 1.7% after Thailand's Constitutional Court has suspended Prime Minister Paetongtarn Shinawatra from office pending an investigation over a leaked phone call with a senior Cambodian leader. The PSEi in Manila, Philippines, added 0.9% to 6,423.85 On Monday, Wall Street resumed its upward climb. The S&P 500 rose 0.5%. It has staged a stunning recovery from its springtime sell-off of roughly 20%. The Dow added 0.6% and the Nasdaq composite gained 0.5%. Stocks got a boost after Canada said it would rescind a planned tax on U.S. technology firms and trade talks with the United States resumed. On Friday, U.S. President Donald Trump had said he was suspending those talks to retaliate for the tax, calling it 'a direct and blatant attack on our country.' U.S. stocks have bounced back on hopes that Trump will reach deals with other countries to lower his painful high tariffs and avert trade wars that could stifle the economy and send inflation higher. Many of Trump's announced tariffs have been postponed and are due to kick back into effect on July 9. The U.S. stock market recovery could raise the risk Trump will resume escalating tariffs, similar to what happened in 2018-2019, according to strategists at Deutsche Bank led by Parag Thatte and Binky Chadha. On Wall Street, Oracle's 4% rise was one of the strongest forces lifting the S&P 500. CEO Safra Catz said the tech giant 'is off to a strong start' in its fiscal year and that it signed multiple large cloud services agreements, including one that could contribute over $30 billion in annual revenue two fiscal years from now. GMS' stock jumped 11.7% after the supplier of specialty building products said it agreed to sell itself to a Home Depot subsidiary in a deal that would pay $110.00 per share in cash. That would give it a total value of roughly $5.5 billion, including debt. In other dealings early Tuesday, benchmark U.S. crude oil lost 4 cents to $65.07 per barrel, while Brent crude, the international standard, fell 7 cents to $66.80 per barrel. The U.S. dollar dipped to 142.86 Japanese yen from 144.04 yen. The euro rose to $1.1822 from $1.1787.
