US stock market today: Wall Street holds steady after inflation data; Nasdaq jumps 0.2%
US stocks steadied on Wednesday as a new inflation report suggested President Donald Trump's sweeping tariffs have not significantly driven up prices—at least for now. The S&P 500 inched up by less than 0.1% in early trading, while the Dow Jones Industrial Average dipped 23 points and the Nasdaq composite rose 0.2% at initial minutes of trading.
Tired of too many ads? go ad free now
The calm in equities came despite fresh signs of inflation, as a Labor Department report showed a slight monthly rise that was milder than economists had forecast. The bond market responded more clearly, with Treasury yields falling on the data.
Global equities also gained, boosted by news that the United States and China had agreed on a framework to continue trade negotiations. The consensus follows a fragile truce reached in Geneva last month and was reaffirmed during two days of talks in London.
France's CAC 40 rose 0.3%, Germany's DAX gained 0.1%, and the UK's FTSE 100 advanced nearly 0.2%. In Asia, Japan's Nikkei jumped 0.6% as wholesale inflation slowed, and South Korea's Kospi surged 1.2%, lifted by easing tariff fears and confidence in new President Lee Jae-myung's market-friendly policies.
Trump's earlier tariff hikes had triggered a 20% market drop just two months ago. The current rally reflects investor hopes that his administration will lower duties following new trade agreements.
Still, some analysts expressed skepticism over the substance of the US-China talks. 'If markets were expecting substance, they got process instead,' said Stephen Innes of SPI Asset Management, describing the London talks as reaffirming existing commitments.
US Commerce Secretary Howard Lutnick, however, remained upbeat, telling reporters in London the discussions with China were going 'really, really well.'
Tired of too many ads? go ad free now
Oil prices edged higher, with benchmark US crude up 24 cents to $65.22 a barrel and Brent rising 17 cents to $67.04. The dollar gained slightly against the yen but edged down versus the euro.
Markets appear to be in a holding pattern, watching for clearer signals from both trade negotiators and the Federal Reserve, which remains cautious on interest rate moves amid lingering inflation and tariff uncertainty.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
India Today
29 minutes ago
- India Today
Might go up: Trump signals hike in auto tariffs for more US production
U.S. President Donald Trump on Thursday warned he may soon hike auto tariffs, arguing that could prod carmakers to speed U.S. investments."I might go up with that tariff in the not-too-distant future," Trump said at a White House event. "The higher you go, the more likely it is they will build a plant here."Automakers have been pressing the White House to reduce the 25% tariffs Trump imposed on autos. The Detroit Three automakers have criticised a deal that would cut tariffs on British car imports but not on Canadian or Mexican Trump cited a series of recent investment announcements, including GM saying this week that it plans to invest $4 billion in three U.S. plants and move some SUV production from Mexico. He also noted a $21 billion Hyundai investment announced in March including a new U.S. steel plant."They wouldn't have invested 10 cents if we didn't have tariffs, including for manufacturing American steel, which is doing great," Trump said last month that cars assembled in Mexico and exported to the U.S. will face an average tariff of 15%, not 25% because Washington is giving automakers reductions for the value of U.S. are facing increasing cost pressures stemming from tariffs. In recent weeks, Ford Motor F.N and Subaru of America 7270.T have hiked prices on some models due to higher costs from Trump's tariffs. In May, Ford estimated tariffs would cost it about $1.5 billion in adjusted said last month it had a current tariff exposure of between $4 billion and $5 billion, including about $2 billion on the more affordable vehicles GM imports from South Korea, where it makes entry-level Chevrolet and Buick InMust Watch
Mint
an hour ago
- Mint
Donald Trump to set unilateral tariff rates for trading partners within two weeks, ‘Can take it or leave it'
United States President Donald Trump on June 11 said he intends to send letters to trading partners within the next week or two setting unilateral tariff rates, according to a Bloomberg report. The move will come ahead of a July 9 deadline to reimpose higher duties on severeal countries, it added. Speaking to reporters, Donald Trump said, 'At a certain point, we're just going to send letters out. And I think you understand that, saying this is the deal, you can take it or leave it.' When reporters questioned if countries would get more time to make trade deals before the higher tariffs start, the US president said he would be open to it, but 'But I don't think we're gonna have that necessity'. While Donald Trump had initially said he would engage in talks with each country, the US strategy has since moved towards prioritising key economic partners with the administration acknowledging that it lacks the capacity to negotiate dozens of individual deals, the report said. While deals with China and the United Kingdom have had extensive discussions and 'near' completion, Trump's team is working to secure bilateral deals with India, Japan, South Korea and the European Union. Also speaking to reporters on June 11, US Commerce Secretary Howard Lutnick said that a deal with the EU is likely to be among the last to be completed, expressing frustration with conducting talks with a 27-nation bloc. At present it is unclear if Donald Trump will follow through with his intent as he has often set two-week deadlines only for dates to be postponed or for the matter to be dropped, the report noted. Notably, on May 29, a reporter invited Donald Trump ire by asking his opinion on Wall Street dubbing his tariffs plan as TACO i.e. Trump Always Chickens Out — mocking the US president's frequent tariff impositions and subsequent reductions, followed by waivers. A visibly offended Donald Trump went on a defensive rant: 'Don't ever say what you said. To me, that's the nastiest question.' In April, the US president announced higher tariffs for dozens of trading partners, and then paused action for 90 days. Then, on May 16, Donald Trump said he would be setting tariff rates for US trading partners 'over the next two to three weeks'. Till date (June 11 last), the only trade framework the US has reached is with the UK, along with a shaky tariff truce with China. First coined by The Financial Times' Robert Armstrong, the term 'TACO' has been picked up for use by Wall Street traders, who see large sell-offs each time Donald Trump's tariffs are announced, followed by recovery when the demand is cut down or removed. (With inputs from Bloomberg)
Hindustan Times
an hour ago
- Hindustan Times
Boeing shares fall 4.2 per cent after deadly Air India plane crash in Ahmedabad
The crash of an Air India 787-8 Dreamliner jet minutes after taking off on Thursday led to Boeing shares falling about 4.2 per cent on Thursday reported Reuters. Shares of Spirit AeroSystems, a key supplier, and GE Aerospace, which makes engines for the jet, also fell about 2 per cent each. Also Read: Air India plane crash: CCTV footage shows bone-chilling video of fatal incident The deadly crash, which has led to 241 confirmed deaths out of the 242 passengers, comes ahead of the Paris Air Show next week where Boeing would participate. The crash, which is one of the worst in aviation history has damaged Boeing's reputation further, after its planes were involved in several other crashes this year. Also Read: Moments of terror: Locals run for cover after Air India flight crash in Ahmedabad Boeing has been involved in three high-profile accidents involving the 737 MAX aircraft in recent years, including two fatal crashes. The Air India plane that crashed in the city of Ahmedabad is more than a decade old. Also Read: Donald Trump breaks silence on Ahmedabad plane crash, says Air India accident 'worst in aviation history' It first flew in late 2013 and was delivered to Air India in January 2014. Since then, it accumulated more than 41,000 flight hours, including 420 hours during 58 flights in May and 165 hours during 21 flights in June, according to Cirium, an aviation data analytics firm. The widebody 787 planes, one of the most modern passenger aircraft in service, have never had a fatal crash until the Air India incident. They were grounded in 2013 due to battery issues, but no one was reported injured. Boeing as well as the airline Air India have stated that they will fully cooperate with an investigation into the cause of the crash.
