Latest from Emarat News
Mint
2 minutes ago
- Business
- Mint
Wall St Week Ahead-Earnings, inflation data confront resilient US stocks rally
(Repeats SCHEDULED COLUMN originally published on July 11, no changes) US stock investors shrug off Trump's latest tariff plans Analysts pared forecasts for profits in June quarter Earnings coming up from big US banks, Netflix, 3M, J&J US consumer price data due Tuesday, retail sales Thursday NEW YORK, July 11 (Reuters) - A rally that has taken U.S. stocks to record highs will be tested in the coming week by the kick-off of corporate earnings season and a key inflation report as investors hope to learn more about the economic fallout from tariffs. The S&P 500 is little changed so far this week, but the benchmark stock index has surged 26% since April to all-time high levels. Stocks this week largely shrugged off President Donald Trump's threats of more aggressive tariffs on over 20 countries set to take effect August 1. Trump also announced plans for higher levies on copper, pharmaceuticals and semiconductors. "Investors are looking toward the end of the year into next year where fundamentals are better, and they are willing to look through some short-term uncertainty as they get there," said Chris Fasciano, chief market strategist at Commonwealth Financial Network. After a strong first-quarter reporting season helped lift stocks, analyst estimates for second-quarter results have weakened. S&P 500 companies are expected to have increased profits by 5.8% from the year-earlier period, down from an expectation of a 10.2% gain on April 1, according to LSEG IBES. The percentage of S&P 500 companies beating consensus estimates rose to 78% in the first quarter after the rate had declined the prior three quarters, Ned Davis Research analysts said. "Another reading in the upper 70s would suggest that companies have a grasp not only on tariffs, but also on the broader macro environment," the Ned Davis analysts said in a note. Reports from banks will dominate the week, including results from JPMorgan Chase, Bank of America and Goldman Sachs. Among the other major companies reporting next week are Netflix, Johnson & Johnson and 3M . In focus will be whether executives indicate if they are able to forecast and make decisions in areas such as capital investment and hiring despite the still-shifting trade backdrop, Fasciano said. "The uncertainty hasn't gone away, but I'm curious to see how much of the uncertainty they feel they have a better understanding of in terms of longer-term plans," Fasciano said. The impact of tariffs will also be at issue with the consumer price index for June, due on Tuesday, which will shed light on inflation trends. CPI is expected to increase 0.3% on a monthly basis, an acceleration from the prior month, according to economists polled by Reuters. A busy week of economic data will also be highlighted by monthly retail sales on Thursday. Investors are eager for the Federal Reserve to resume interest rate cuts, but central bank officials have cited worries that tariffs will drive inflation higher as reasons for holding off on changing monetary policy. The S&P 500 is up nearly 7% in 2025, just over halfway through the year. In the latest sign of positive stock momentum, Nvidia Corp this week became the first publicly traded company to hit $4 trillion in market value, fueled by a massive run for AI chipmaker's stock price. Stocks have rebounded after plunging in April following Trump's "Liberation Day" announcement of sweeping global tariffs. This past Wednesday was expected to be a key deadline, marking the end of Trump's pause on many of the harsh "reciprocal" tariffs he unveiled in April. This week, he launched an array of levies, many scheduled to take effect on August 1. Still, most investors appear to be banking on the U.S. avoiding higher tariff rates as Washington strikes deals in coming weeks with trading partners such as Japan and South Korea, said Anthony Saglimbene, chief market strategist at Ameriprise Financial. "That's what the market has built in," Saglimbene said. "If we don't get that, then I think there is probably some risk that we would see some higher near-term volatility if the White House actually implements some of these aggressive tariff measures." text_section_type="notes">Wall St Week Ahead runs every Friday. For the daily stock market report, please click (Reporting by Lewis Krauskopf; Editing by Alden Bentley and David Gregorio)
Daily Mirror
2 minutes ago
- Lifestyle
- Daily Mirror
People who hang laundry with pegs urged to reconsider this summer
Drying your laundry outdoors is one of the best things about summer and the warmer weather. However, many people are making a mistake when it comes to drying their clothes Soaking up the summer sun whilst hanging out your washing seems like a dream but a common blunder could wreak havoc on your favourite threads. Renowned fashion brand Superdry has flagged up a laundry howler that many of us are making, which may be inadvertently shortening the life of our clothes. According to the style gurus, when it's time to dry certain items, forget about clothes pegs. And while the power of nature is great for drying clothes (sunlight can also keep items white and kill bacteria), it can also harm clothes through "wear and tear caused by heat exposure", reports the Express. They cautioned against the use of pegs: "Take caution when using clothes pegs, as they can leave unsightly and potentially permanent pressure marks on delicate fabrics. To protect delicate items, avoid using clothes pegs altogether, and be careful not to leave items outside in the wind, as they could be blown away." They also shared a nifty tip for a dazzling white finish: "Additionally, you can enhance the whitening effect further by lightly spritzing clothes with white vinegar before hanging them outdoors, helping the sun to keep your whites looking fresh. However, some fabrics will become stiff if dried in this way, especially those made from natural fibres like cotton. To avoid this, trying partly drying outside and finish off with a few minutes in the tumble dryer." You can also gently pull garments into shape to remove creases before hanging out or placing on the drying rack – which will additionally reduce the amount of ironing needed, making life easier. Laundry experts at Vileda second this advice. Moreover, they have shared more detailed guidance on the best methods for hanging specific items of clothing so they won't get damaged on the line: Trousers: - The best way to hang trousers is to fold them over the clothesline at the waistband. This helps to reduce creasing. Jumpers: Avoid hanging jumpers by the shoulders, as this can cause stretching and misshaping. Instead, fold your jumper lengthwise and drape both sides evenly over the line. Dresses: You can fold the dress in half lengthwise and hang it over the line like a pair of trousers. Sweatshirts: Treat sweaters the same way as jumpers, folding them in half lengthwise and draping them over the line.
Daily Mirror
2 minutes ago
- Sport
- Daily Mirror
Nick Kyrgios slams Iga Swiatek and Jannik Sinner – 'Not a good look'
Wimbledon winner Iga Swiatek and men's finalist Jannik Sinner both served doping suspensions and Nick Kyrgios thinks tennis has a problem due to their success in London Nick Kyrgios says Iga Swiatek and Jannik Sinner reaching the Wimbledon finals not long after serving doping bans is not a good look for the sport. Swiatek demolished Amanda Anisimova in Saturday's women's singles final before Sinner takes on Carlos Alcaraz in the men's version on Sunday. Sinner failed two drug tests yet was cleared of any wrongdoing by the International Tennis Integrity Agency, who accepted his explanation of unintentional contamination. The world No.1 tested positive for low levels of a metabolite of clostebol, which is a banned steroid that can be used to build muscle mass, but Sinner claimed it was the result of contamination from his physio. Swiatek, meanwhile, served a one-month suspension after testing positive for a banned heart medication in August. She tested positive for trimetazidine, a medication that can increase blood flow and improve endurance, which the Polish star said was caused by a contaminated supply of melatonin, which she uses to help with jet lag and sleep issues. Kyrgios has been extremely vocal on the subject in the past and has spoken out again ahead of the Wimbledon finals. 'At the end of the day, the decision has been made, and it's kind of in the past,' he told the i. 'Do I think it's a good look for the sport that Swiatek and Sinner are in the final at Wimbledon after serving a ban? I don't think it's a good look for the sport. 'And I think people could agree. But I'm not going to sit there and talk about that [on commentary] in the final. They've been playing some incredible tennis. 'Sinner, he served a ban, which do I agree with? No. But he came back and he's been playing some excellent tennis. He didn't look like he missed a beat, and he looked like he improved during that period of time, which is still incredible, regardless of why he was banned.' Writing on X after hearing Sinner's ban, Kyrgios wrote: "Ridiculous... whether it was accidental or planned. You get tested twice with a banned (steroid) substance... you should be gone for two years. Your performance was enhanced. Massage cream... yeah nice." Sinner's explanation was that he tested positive for clostebol because his physiotherapist Giacomo Naldi had been using an over-the-counter spray to treat a cut on his own hand. The case sparked a debate around doping, with some angry that Sinner got off lightly, given his suspension fell between tournaments. But Sinner admitted earlier in Wimbledon that he hadn't experienced any backlash a year on. 'I think people kind of have forgotten already a little bit what happened,' he said. 'Of course, in the beginning it was a bit different. People saw me in different ways. But I think they all saw that I'm a very clean player. I never [had the] intention to do anything bad.'
Mint
2 minutes ago
- Business
- Mint
The EU is delaying retaliatory tariffs on U.S. goods, in hopes of reaching a deal by Aug. 1
BRUSSELS (AP) — The EU will suspend retaliatory tariffs on U.S. goods scheduled to take effect Monday in hopes of reaching a trade deal with the Trump administration by the end of the month. ″This is now the time for negotiations,″ European Commission President Ursula von der Leyen told reporters in Brussels on Sunday, after President Donald Trump sent a letter announcing new tariffs of 30% on goods from the EU and Mexico starting Aug. 1. The EU — America's biggest trading partner and the world's largest trading bloc — had been scheduled to impose ″countermeasures″ starting Monday at midnight Brussels time (6 p.m. EDT). The EU negotiates trade deals on behalf of its 27 member countries. Von der Leyen said those countermeasures would be delayed until Aug. 1, and that Trump's letter shows ″that we have until the first of August″ to negotiate. European leaders have urged Trump and von der Leyen to give negotiations more time. ″We have always been clear that we prefer a negotiated solution,″ she said. If they can't reach a deal, she said that ″we will continue to prepare countermeasures so we are fully prepared.″ Standing alongside Indonesian President Prabowo Subianto, von der Leyen said the trade tensions with the U.S. show the importance of ''diversifying our trade relationships.'' Trump has said his global tariffs would set the foundation for reviving a U.S. economy that he claims has been ripped off by other nations for decades. Trump in his letter to the European Union said the U.S. trade deficit was a national security threat. U.S. trade partners have faced months of uncertainty and on-and-off threats from Trump to impose tariffs, with deadlines sometimes extended or changed. The tariffs could have ramifications for nearly every aspect of the global economy. The value of EU-U.S. trade in goods and services amounted to 1.7 trillion euros ($2 trillion) in 2024, or an average of 4.6 billion euros a day, according to EU statistics agency Eurostat. Europe's biggest exports to the U.S. were pharmaceuticals, cars, aircraft, chemicals, medical instruments and wine and spirits.
Mint
2 minutes ago
- Entertainment
- Mint
Sitaare Zameen Par BO Collection Day 24: Aamir Khan's film inches closer to ₹200 crore mark, mints THIS amount
Sitaare Zameen Par Box Office Collection Day 24: Aamir Khan's sports drama reached its fourth weekend on Sunday and has successfully managed to attract audience to the box office on its 24th day. Aamir Khan's emotional powerhouse, which is the 'spiritual' successor to Taare Zameen Par, marked 177.78 percent increase in domestic business on Saturday and did a business of ₹ 2.5 crore in India on Day 23. According to film industry tracker Sacnilk, the Bollywood's remake of the 2018 Spanish film 'Champions', earned an estimated ₹ 1.48 crore India net on its twenty-fourth day for all languages. Sitaare Zameen Par had an overall 34.61% Hindi occupancy on Sunday. Evening Shows: yet to be ascertained Night Shows: yet to be ascertained Among the places where Sitaare Zameen Par had the maximum occupancy on Sunday include Chennai (65%), followed by Hyderabad, (47.50%), Pune (47%), Bengaluru (46.50%), Lucknow (38.50%), NCR (38%), and Mumbai 36.50%). As RS Prasanna directorial movie moves closer to ₹ 250 crore mark, it minted ₹ 242.50 crore gross at the worldwide box office in 23 days. In the overseas market the movie, which premiered in theatres on June 20, collected ₹ 54 crore gross. It collected ₹ 79 lakh in Tamil and ₹ 44 lakh in Telegu. Made on a budget of ₹ 80 crore, Sitaare Zameen Par is currently the sixth highest grossing Indian movie of the year, according to IMDb.
