A Niche Plastics Ingredient Becomes a Trade War Bargaining Chip
Welcome to our guide to the commodities markets powering the global economy. Today, Singapore-based reporter Nicholas Lua explains why trade war watchers should be paying more attention to one particular hydrocarbon.
When the world's two biggest economies go head-to-head, collateral damage is inevitable — just ask China's petrochemicals executives.
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Yahoo
36 minutes ago
- Yahoo
Stock market today: S&P 500, Dow, Nasdaq mixed as US and China reboot trade talks
US stocks were mixed on Monday as investors looked to renewed US-China trade talks for signs either side is willing to dial down tensions and reach a tariff deal. The S&P 500 (^GSPC) rose 0.1% after the benchmark edged above 6,000 to notch its highest close since February. The Dow Jones Industrial Average (^DJI) fell 0.4% while the tech-heavy Nasdaq Composite (^IXIC) drifted up 0.4%. The focus is on high-level US-China trade talks that began in London on Monday, after a phone call between President Trump and Chinese President Xi last week. Read more: The latest on Trump's tariffs The stakes are high amid warnings that tariff barriers will harm economies worldwide — the US in particular. Investors are looking for a revival of the momentum shown in the Geneva pact in mid-May. Relations have soured since then, with the US and China accusing each other of not keeping to the trade truce and ratcheting up pressures in other areas. For now, markets appear to have shaken off the volatility that has plagued markets following Trump's early-April tariff hikes. Stocks ended last week on a high note, as encouraging jobs data helped ease fears of a recession fueled by his policy overhaul. The economic highlight this week is May US consumer inflation print due on Friday, with the wholesale inflation report ushering it in on Thursday. On the corporate front, Apple (AAPL) kicks off its big annual WWDC developers conference on Monday. Wall Street is watching for more insight into the company's AI plans, though not on the lines of last year's splashy announcements. Meanwhile, investors are keeping a wary eye on escalating tensions in Los Angeles after Trump sent in the National Guard to deal with anti-deportation protests. Circle's stock (CRCL) surged for a third day in a row on Monday following its blockbuster IPO last week. Shares of the stablecoin issuer gained more than 15% to trade near $122 per share, raising the company's market cap to roughly $24 billion. The move follows gains on Thursday and Friday, when the stock rose as much as 200% shortly after its long-anticipated public market debut. Stocks edged higher on Monday amid hopes that US-China trade talks will ease tariff tensions and eventually lead to a permanent deal between the two leading economies. The S&P 500 (GSPC) rose to just above the flat line, after the broad benchmark closed on Friday at its highest level since February. The Dow Jones Industrial Average (^DJI) gained 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) edged 0.2% higher. High-level trade talks between Beijing and Washington began in London on Monday. This follows a phone call between President Trump and Chinese leader Xi Jinping last week. Apple's annual Worldwide Developers Conference (WWDC) kicks off in Cupertino, Calif., today. While investors may get another taste of artificial intelligence features, including AI-powered Siri, Apple isn't expected to deliver any big announcements. The company will likely showcase new features and designs for iOS, iPadOS, macOS, and watchOS. There's always a chance it will debut a new piece of hardware too. Apple (AAPL) stock rose 0.5% in premarket trading ahead of the event. Read our tech editor's preview of everything to expect from Apple WWDC 2025. Robinhood (HOOD) stock slipped 4% after it didn't make it into the benchmark S&P 500 index as some speculated it might. S&P Dow Jones Indices did not make any changes to S&P 500 membership as part of its quarterly rebalancing. Reuters reports: Read more here. Shares of Warner Bros. Discovery (WBD) rose more than 6% in premarket trading on Monday after the media company said it would split into two companies. Warner Bros. will separate its studios and streaming business, which includes HBO Max, and its cable television networks, including CNN. The split is expected to be completed by mid-2026. Reuters reports: Read more here. Economic data: New York Fed one-year inflation expectations (May); Wholesale trade sales month-over-month (April) Earnings: Casey's (CASY) Here are some of the biggest stories you may have missed overnight and early this morning: All eyes on AI as Apple takes the stage for WWDC A quieter summer is coming for stocks: Wall Street experts Hopes for US-China thaw as trade talks resume Senate GOP to lay out major revisions to Trump's tax bill Resilient economy to limit summer pullback in stocks: MS, Goldman Meta is set to throw billions at startup that leads in AI data China exports to US fall by most since 2020 despite tariff truce Here are some top stocks trending on Yahoo Finance in premarket trading: Robinhood (HOOD) stock fell 5% before the bell on Monday after the S&P Dow Jones Indices made no changes to the S&P 500 in its quarterly rebalancing. Tesla (TSLA) stock also dropped on Monday in premarket trading after CEO Elon Musk criticized President Trump's tax bill. Strategy (MSTR) stock rose on Monday by 2%. A SEC filing revealed the company had purchased 705 bitcoin during the period of May 26 to June 1 at an aggregate purchase price of $75.1M. Wall Street strategists are growing optimistic about US stocks, with forecasters at Morgan Stanley (MS) and Goldman Sachs Group (GS) the latest to suggest resilient economic growth would limit any pullback over the summer. Bloomberg reports: Read more here. Circle's stock (CRCL) surged for a third day in a row on Monday following its blockbuster IPO last week. Shares of the stablecoin issuer gained more than 15% to trade near $122 per share, raising the company's market cap to roughly $24 billion. The move follows gains on Thursday and Friday, when the stock rose as much as 200% shortly after its long-anticipated public market debut. Stocks edged higher on Monday amid hopes that US-China trade talks will ease tariff tensions and eventually lead to a permanent deal between the two leading economies. The S&P 500 (GSPC) rose to just above the flat line, after the broad benchmark closed on Friday at its highest level since February. The Dow Jones Industrial Average (^DJI) gained 0.1%, while the tech-heavy Nasdaq Composite (^IXIC) edged 0.2% higher. High-level trade talks between Beijing and Washington began in London on Monday. This follows a phone call between President Trump and Chinese leader Xi Jinping last week. Apple's annual Worldwide Developers Conference (WWDC) kicks off in Cupertino, Calif., today. While investors may get another taste of artificial intelligence features, including AI-powered Siri, Apple isn't expected to deliver any big announcements. The company will likely showcase new features and designs for iOS, iPadOS, macOS, and watchOS. There's always a chance it will debut a new piece of hardware too. Apple (AAPL) stock rose 0.5% in premarket trading ahead of the event. Read our tech editor's preview of everything to expect from Apple WWDC 2025. Robinhood (HOOD) stock slipped 4% after it didn't make it into the benchmark S&P 500 index as some speculated it might. S&P Dow Jones Indices did not make any changes to S&P 500 membership as part of its quarterly rebalancing. Reuters reports: Read more here. Shares of Warner Bros. Discovery (WBD) rose more than 6% in premarket trading on Monday after the media company said it would split into two companies. Warner Bros. will separate its studios and streaming business, which includes HBO Max, and its cable television networks, including CNN. The split is expected to be completed by mid-2026. Reuters reports: Read more here. Economic data: New York Fed one-year inflation expectations (May); Wholesale trade sales month-over-month (April) Earnings: Casey's (CASY) Here are some of the biggest stories you may have missed overnight and early this morning: All eyes on AI as Apple takes the stage for WWDC A quieter summer is coming for stocks: Wall Street experts Hopes for US-China thaw as trade talks resume Senate GOP to lay out major revisions to Trump's tax bill Resilient economy to limit summer pullback in stocks: MS, Goldman Meta is set to throw billions at startup that leads in AI data China exports to US fall by most since 2020 despite tariff truce Here are some top stocks trending on Yahoo Finance in premarket trading: Robinhood (HOOD) stock fell 5% before the bell on Monday after the S&P Dow Jones Indices made no changes to the S&P 500 in its quarterly rebalancing. Tesla (TSLA) stock also dropped on Monday in premarket trading after CEO Elon Musk criticized President Trump's tax bill. Strategy (MSTR) stock rose on Monday by 2%. A SEC filing revealed the company had purchased 705 bitcoin during the period of May 26 to June 1 at an aggregate purchase price of $75.1M. Wall Street strategists are growing optimistic about US stocks, with forecasters at Morgan Stanley (MS) and Goldman Sachs Group (GS) the latest to suggest resilient economic growth would limit any pullback over the summer. Bloomberg reports: Read more here.
Wall Street Journal
39 minutes ago
- Wall Street Journal
Trump Gives U.S. Negotiators Room to Lift Export Controls on China
Ahead of U.S.-China talks in London, President Trump authorized Treasury Secretary Scott Bessent's team to negotiate away recent restrictions on the sale of a wide variety of technology and other products to China, according to people familiar with the matter. It's a novel strategy, underscoring the impact of China's rare-earth controls on U.S. industries. 'Historically, export controls have never been used as leverage for trade negotiations,' said Kevin Wolf, a partner at Akin Gump Strauss Hauer & Feld who specializes in international trade. 'There is no precedent for this.'
Bloomberg
an hour ago
- Bloomberg
Stock Movers: Warner Brothers Discovery, Qualcomm, Starbucks
On this episode of Stock Movers: - Warner Brothers Discovery (WBD) shares rise after the company said it will split its streaming and studios business and its TV networks operations by the middle of next year. The streaming and studios company will include Warner Brothers Television, the Motion Picture Group, DC Studios, HBO, and HBO Max. - Qualcomm (QCOM) shares rise after the company reached an agreement to buy Alphawave for $2.4 billion. The offer equates to about 183 pence per share for Alphawave -- a 96% premium to the company's share price on March 31, the last trading day before Alphawave and Qualcomm disclosed the talks. - Starbucks (SBUX) shares rise after the company announced price cuts for a slew of its tea-based beverages at its stores across China. It's the latest campaign to appeal to Chinese consumers for non-coffee offerings during summer.
