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Business Standard
an hour ago
- Business Standard
EU delays investigation into Musk's X amid trade negotiations with US
The European Commission has delayed one of its ongoing investigations into Elon Musk's social media platform X for violating digital transparency rules, The Financial Times reported on Thursday. The delay coincides with the EU's ongoing trade discussions with the United States. The Commission, which is responsible for overseeing trade on behalf of the European Union, will not meet the deadline to conclude the probe before its summer recess. A decision on the matter is now expected after greater clarity emerges from the EU-US trade negotiations. X in breach of EU's digital content rules Last year, EU technology regulators said that X had violated the Digital Services Act (DSA) — a regulation that compels major online platforms and search engines to take stronger action against illegal content and threats to public safety. Companies found in violation can face penalties of up to 6 per cent of their global turnover. Repeat offenders could potentially be banned from operating within the EU altogether. The probe into X followed a seven-month investigation that identified issues with the platform's use of the 'blue checkmark'. The Commission said X's approach 'deceives users' and is inconsistent with established industry practices. Investigation into X remains active The Commission stated that since anyone could subscribe to obtain a 'verified' status, it undermined users' ability to freely and accurately assess the authenticity of accounts and the content they engage with. It added that there was evidence of malicious actors deliberately misusing the 'verified account' status to mislead users. ByteDance's TikTok, AliExpress and Meta Platforms are also being investigated under the DSA framework. An EU spokesperson said that the investigation into X remains open, adding that the enforcement of the legislation is independent of the current ongoing negotiations. EU-US trade tensions The delay in the investigation comes as EU trade commissioner Maros Sefcovic prepares to meet with US Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer for high-stakes tariff discussions. US President Donald Trump has threatened to impose a 30 per cent tariff on EU imports starting August 1—a move the EU deems unacceptable and damaging to trade relations between two of the world's largest economies. The EU warned of countermeasures if no agreement is reached. Bracing for a breakdown in talks, the European Commission has prepared a retaliatory tariff package targeting $83.6 billion worth of US exports, including Boeing aircraft, bourbon whiskey, and automobiles.
Economic Times
an hour ago
- Economic Times
US stock market futures today: Dow, S&P 500, Nasdaq steady as Trump–Powell drama shakes Fed, top stocks like CSX and J&J rally while Micron, ADM tumble
Wall Street futures opened on a cautious note this Wednesday, July 17, as investors weighed a fresh wave of political and economic uncertainty. While the major indexes — the Dow Jones, S&P 500, and Nasdaq — held relatively steady, the market mood remained tense following reports of Trump's alleged clash with Fed Chair Jerome Powell and his looming global tariff plans. Amid this backdrop, stocks like CSX and Johnson & Johnson surged on strong earnings, while Micron and Archer-Daniels-Midland dragged down tech and commodity-linked sectors. US Stock market today: Dow, S&P 500, Nasdaq futures muted as Trump-Powell tension builds and investors eye retail sales, Netflix earnings- US Stock market today opened on a cautious note, with futures for the Dow Jones, S&P 500, and Nasdaq showing little movement early Thursday. The mood on Wall Street remained tense as President Donald Trump reignited speculation about firing Federal Reserve Chair Jerome Powell, adding fresh political drama to an already busy earnings and economic data week. Meanwhile, investors are watching closely for June retail sales data and Netflix (NFLX) earnings, two key events that could shape near-term market sentiment. As of pre-market trading on July 17: S&P 500 ETF (SPY) is trading around $624.22 , slightly higher by +0.33% is trading around , slightly higher by Dow Jones ETF (DIA) is up about +0.52% at $442.36 is up about at Nasdaq-100 ETF (QQQ) is trading near $557.29, inching up by +0.13% In short, futures are muted but stable, reflecting cautious optimism ahead of new economic data and earnings. Dow Jones Futures (YM=F): Currently trading near 44,370 , down around 0.1% . , down around . Day's range: 44,356 – 44,474 S&P 500 Futures (ES=F): Hovering around 6,302.75 , showing little movement. , showing little movement. Day's range: 6,288.25 – 6,311.50 Nasdaq‑100 Futures (NQ=F): Up slightly at 23,087.50 , rising by about 0.1% . , rising by about . Day's range: 23,017 – 23,151.75 President Trump's public frustration with Fed Chair Jerome Powell resurfaced this week, triggering market jitters on Wednesday. Stocks sold off midday after reports circulated that Trump might fire Powell — something he's previously threatened. However, markets quickly bounced back when Trump clarified he's 'not planning' to take such action, at least for now. Still, this drama isn't new. Trump has long criticized the Fed for its handling of interest rates, urging it to cut more aggressively. According to the CME Group's FedWatch Tool, almost 100% of traders are betting that the Fed will hold rates steady at its next meeting, despite mixed signals on inflation. Investors are now left trying to balance political uncertainty with expectations for steady policy — a tricky tightrope that's keeping market moves limited ahead of major announcements. Markets briefly dipped yesterday after reports emerged that President Trump considered firing Federal Reserve Chair Jerome Powell—a move that could shake investor confidence in Fed independence. Though Trump later denied the rumor, the episode triggered a jump in Treasury yields and some dollar weakness, showing how sensitive markets are to Fed leadership uncertainty. Adding fuel to the fire, Trump also confirmed he will roll out a sweeping 'tariff barrage' starting August 1, targeting over 150 countries. This includes: 10–15% base tariffs across a wide range of imports across a wide range of imports 50% tariffs on metals like copper and steel like and A steep 30% levy on European goods Economists warn this could reignite inflation, especially after June's CPI came in hotter at +2.7% YoY, driven in part by import-sensitive goods. Dow Jones Industrial Average: -45.66 points to close at 40,078.33 to close at S&P 500 Index: +8.60 points to close at 5,602.44 to close at Nasdaq Composite: +108.91 points to close at 18,385.74 Here are the top pre-market gainers as of July 17: Company Price % Gain CSX Corp. $35.50 +6.73% (Railroad earnings boost) ANSYS (ANSS) $388.18 +3.71% (AI & enterprise software strength) Norfolk Southern (NSC) $266.88 +2.52% CarMax (KMX) $63.44 +1.68% PepsiCo (PEP) $137.50 +1.59% (Consumer staples recovery) Other early risers include Hewlett Packard Enterprise, GE Vernova, Blackstone, and Tesla. In the broader S&P 500, Johnson & Johnson also surged +6.2%, and Global Payments (GPN) rallied +6.5%, showing investor confidence in healthcare and fintech. Here are the top pre-market losers as of this morning: Company Price % Loss Archer-Daniels-Midland (ADM) $50.70 –6.11% Abbott Labs (ABT) $126.43 –4.03% Micron Technology (MU) $111.90 –3.89% U.S. Bancorp (USB) $44.00 –3.68% Union Pacific (UNP) $225.00 –2.67% Also dropping: Ford (–2.85%), Best Buy (–2.93%), APA Corp, HCA Healthcare, and Enphase Energy. These declines suggest cyclicals, semiconductors, and banks are under pressure from macro fears and tariff anxiety. Major Wall Street banks posted strong trading revenue: Goldman Sachs, JPMorgan, Morgan Stanley, Bank of America, and Citigroup collectively generated nearly $34 billion in Q2 trading revenue — up around 17% year-over-year collectively generated nearly in Q2 trading revenue — up around Daily news from FT noted a resurgence in investment banking, with top firms outperforming expectations on trading gains U.S. retail sales and consumer sentiment data will be released later today. Any weakness here could heighten concern about the strength of the economy amid rising tariffs. data will be released later today. Any weakness here could heighten concern about the strength of the economy amid rising tariffs. Netflix reports earnings after the closing bell. Expect tech sector volatility depending on subscriber growth and revenue guidance. Another critical market driver Thursday is the release of June retail sales — a direct look at how American consumers are spending. Economists expect a slight rebound in spending after a dip in May, where early purchases ahead of potential tariff-driven price hikes caused a short-term pullback. Major banks reporting earnings this week, including JPMorgan Chase, Bank of America, and Citigroup, all suggested that consumers are still relatively healthy. However, any softness in June's numbers could raise concerns about consumer resilience in the face of inflation and policy uncertainty. Netflix (NFLX) will report quarterly earnings after the bell Thursday, marking the first of the big tech names to post results this season. Shares of Netflix have surged in 2025, riding high on optimism around new content launches and global subscriber growth. The market will be watching Netflix's performance closely, especially its subscriber growth, ad-supported tier expansion, and international revenue trends. The results could set the mood for upcoming earnings from Apple, Microsoft, Google (Alphabet), and Amazon — all key drivers of this year's tech rally. Beyond Netflix, Thursday also brings key earnings from Taiwan Semiconductor Manufacturing Company (TSMC) and PepsiCo (PEP). TSMC, a major chip supplier for Apple and others, is expected to give important insight into the global semiconductor supply chain and tech demand. PepsiCo, on the other hand, will provide clues on consumer staples spending and inflation pressures on household goods. These early earnings will help shape expectations for the broader earnings season, especially as companies face tighter margins, changing consumer behavior, and unpredictable policy now, Wall Street is moving cautiously. The Trump–Powell tension and aggressive tariff strategy are raising red flags for investors, especially with inflation already heating up. While some sectors like railroads, healthcare, and AI-driven tech are doing well, others like banks, consumer goods, and semiconductors are taking a are watching closely for signs that trade policy could derail the soft-landing narrative. As it stands, the US stock market is holding near record highs — but it's walking a tightrope. Political risk, uncertain economic data, and high valuations are keeping traders cautious. With inflation data sending mixed messages and the Fed unlikely to budge in the near term, much will depend on how companies perform this quarter. And with Trump once again turning his attention to the Federal Reserve, Wall Street will likely keep one eye on earnings and the other on political headlines coming out of Washington. Q1: What is the latest update on the stock market today? Dow, S&P 500, and Nasdaq futures are mostly flat amid Trump-Powell tensions and earnings watch. Q2: Why are investors watching Netflix earnings today? Netflix is the first Big Tech name to report, and its results may set the tone for tech stocks.
Time of India
an hour ago
- Time of India
Sterlite Technologies collaborates with Hygenco for Maharashtra's first green hydrogen plant for optical fibre
Sterlite Technologies Ltd . (STL) has collaborated with Hygenco for Maharashtra's first green hydrogen and green oxygen production facility for optical fibre , the company announced on Thursday. The planned green hydrogen and green oxygen project, centred in Chhatrapati Sambhaji Nagar , Maharashtra, will supply green gases to STL's glass preform facility. Explore courses from Top Institutes in Select a Course Category Degree others Management MBA Leadership Healthcare Cybersecurity Data Science PGDM Public Policy healthcare Design Thinking Others CXO Product Management Operations Management Finance Technology MCA Data Science Artificial Intelligence Project Management Data Analytics Digital Marketing Skills you'll gain: Data-Driven Decision-Making Strategic Leadership and Transformation Global Business Acumen Comprehensive Business Expertise Duration: 2 Years University of Western Australia UWA Global MBA Starts on Jun 28, 2024 Get Details With this collaboration in sustainable manufacturing , Sterlite Tech is set to become one of the world's first optical fibre manufacturers to deploy 100% green hydrogen in its production processes. The move aims to support the company's goal to achieve Net Zero by 2030. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like When the Camera Clicked at the Worst Possible Time Read More Undo The collaborator Hygenco will build, own and operate the green hydrogen manufacturing facility, ensuring a reliable and commercially viable supply for 20 years. "By leveraging 100% green hydrogen for its glass preform manufacturing, STL is setting a new global benchmark for decarbonization in the optical fibre industry. Our collaboration with Hygenco exemplifies our commitment towards sustainability and operational excellence," Rahul Puri, CEO - Optical Networking Business, STL said on the successful commissioning of the green hydrogen plant. Live Events With its collaboration with Hygenco, STL aims to reduce carbon emissions by ~30% annually. "Green Hydrogen has the potential to be a game-changer in India's journey towards sustainability. Our long-term engagement with STL represents a bold step forward in decarbonising industrial processes. We are proud to enable STL to lead the global optical fibre industry into a new era of green manufacturing," said Amit Bansal, CEO, Hygenco Green Energies Pvt. Ltd. Sterlite Technologies Ltd is a global optical and digital solutions company providing advanced offerings to build 5G, Rural, FTTx, Enterprise and Data Centre networks. Hygenco develops scaled up commercially attractive green hydrogen and green ammonia assets. The company is determined to invest US$2.5 billion over next 3 years and targets to commission 10 GW of green hydrogen and ammonia assets by 2030.
