European markets set to open lower as U.S. trade talks and earnings keep spotlight
There's just under an hour and a half to go until the final opening bell of the week, and regional indexes are currently looking poised to move into negative territory.
Futures tied to the German DAX , Italian FTSE MIB and French CAC 40 indexes were all last seen trading 0.2% lower. Those tied to London's FTSE 100 were last heading marginally lower.
Regional shares ended the Thursday session higher, as investors focused on U.S.-EU trade talks, the European Central Bank's widely anticipated interest rate hold and a flurry of corporate earnings.
— Chloe Taylor
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Los Angeles Times
an hour ago
- Los Angeles Times
Wall Street ticks higher after a rally wrapped around the world
NEW YORK — U.S. stocks ticked higher on Wednesday after a rally spurred by hopes for lower U.S. interest rates wrapped around the world. The Standard & Poor's 500 rose 0.3%, coming off its latest all-time high. The Dow Jones Industrial Average climbed 463 points, or 1%, while the Nasdaq composite added 0.1% to its own record set the day before. Treasury yields eased in the bond market as expectations reached a virtual consensus that the Federal Reserve will cut its main interest rate for the first time this year at its next meeting in September. Lower rates can boost investment prices and the economy by making it cheaper for U.S. households and businesses to borrow to buy houses, cars or equipment, though they risk worsening inflation. Stock indexes in Asia jumped in their first trading after Tuesday's better-than-expected report on U.S. inflation triggered a jump in bets that a cut to interest rates is coming. Hong Kong's Hang Seng leaped 2.6%, Japan's Nikkei 225 rallied 1.3% and South Korea's Kospi climbed 1.1%. Indexes also rose in Europe, though the moves were more modest after they already had the chance to trade on the U.S. inflation data the afternoon before. Germany's DAX returned 0.7%, and France's CAC 40 rose 0.7%. On Wall Street, stocks of companies that could benefit most from lower interest rates helped lead the way. PulteGroup climbed 5.4%, and Lennar rose 5.2% as part of a broad rally for homebuilders and others in the housing industry. Lower rates could make mortgages cheaper to get, which could spur more buying. The hopes for lower interest rates are helping to drown out criticism that the U.S. stock market has broadly grown too expensive after its big leap since hitting a low in April. One way companies can make their stock prices look less expensive is to deliver strong growth in profits, and Brinker International rose 1.6% after becoming the latest to report stronger results for the latest quarter than analysts expected. The company behind the Chili's brand said it saw more customers coming to its restaurants, and it's also making more profit off each $1 in sales. 'Chili's is officially back, baby back!' CEO Kevin Hochman said. HanesBrands climbed 3.7% after it agreed to sell itself to Gildan Activewear for $2.2 billion in cash and Gildan stock. The deal would combine North Carolinas' HanesBrands with Canada's Gildan, and Gildan's stock that trades in the United States rose 11.8%. Bullish soared in its debut on the New York Stock Exchange and rose 83.8% in its first day of trading. The cryptocurrency exchange's CEO is Tom Farley, who used to be president of the NYSE Group. On the losing end of Wall Street were grocery stores and delivery companies, which fell after Amazon said it will offer fresh groceries to customers in more than 1,000 cities and towns through same-day delivery. Kroger fell 4.4%, and DoorDash dropped 3.8%, while Amazon rose 1.4%. Cava Group sank 16.6% after the Mediterranean restaurant chain reported weaker revenue for the latest quarter than analysts expected, though its profit topped forecasts. It also cut its 2025 forecast for an important underlying measure of restaurant sales. CoreWeave lost 20.8% after the company, whose cloud platform helps customers running artificial-intelligence workloads, reported a larger loss for the latest quarter than analysts expected. All told, the S&P 500 rose 20.82 points to 6,466.58. The Dow Jones Industrial Average jumped 463.66 to 44,922.27, and the Nasdaq composite added 31.24 to 21,713.14. In the bond market, Treasury yields eased as expectations built for coming cuts to interest rates by the Fed. The yield on the 10-year Treasury fell to 4.23% from 4.29% late Tuesday and from 4.50% in mid-July. That's a notable move for the bond market. President Donald Trump has angrily been calling for cuts to help the economy, often insulting the Fed's chair personally while doing so. But the Fed has been hesitant so far because of the possibility that Trump's tariffs could make inflation much worse. Lowering rates would give inflation more fuel, potentially adding oxygen to a growing fire. That's why Fed officials have said they wanted to see more data come in about inflation before moving. On Thursday, a report will show how bad inflation was at the wholesale level across the United States. Economists expect it to show inflation accelerated a touch to 2.4% in July from 2.3% in June. Choe writes for the Associated Press. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
Eater
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Miami Herald
3 hours ago
- Miami Herald
‘Get your back office together': 6 tips from the Herald's Black business event
What does it take for a Black-owned business to succeed in South Florida? Three Miami business leaders spoke Tuesday night at Miami Gardens' Co-Space for 'Building Black Businesses,' a Miami Herald discussion on how local entrepreneurs can launch small businesses or elevate existing ventures. Suzan McDowell, the founder of Circle of One Marketing; Aamir Taylor, the owner of Italian Vice, a frozen treats business; and Matthew Pigatt, the director of small business and membership services at the Miami-Dade Chamber of Commerce, spoke about what small business owners can do to succeed. Here are some of the key takeaways from the discussion: McDowell believes in the importance of being so good at something that people will advocate for you, even in your absence. 'Part of marketing is when somebody in this room is in another room that I'm not in and somebody brings up my name,' she said. 'It's a part of marketing. It's what people are saying about you.' Taylor agreed with that approach, especially thinking back to when he started his Italian ice business five years ago. 'I'm my marketer,' he said. 'I was in front of every single person. I'm serving every single person. So that was my goal, was to put smiles on people's faces and to be my own marketing. So when you see my Instagram, you're gonna see me. You're going to see me, probably in almost every single picture. You're gonna see my staff.' Pigatt emphasized the need for business owners to have their paperwork in order. 'Get your back office together,' Pigatt said. 'That means your financials, taxes, not reporting a loss every single year, making sure you can look at a profit and produce a profit and loss statement, your SunBiz is up to date and that you're not owing taxes.' 'These are the fundamentals, and in having all those things in a folder — all your certifications, your business plan, your [standard operating procedure] — those things help tremendously and help build a business.' Taylor said there were several organizations, including the Miami-Dade Chamber, that helped him out with that when he first started. 'I had a lot of help from Miami Bayside Foundation. They started me off in one of my first loans. The Miami Foundation, another one,' he said. 'A big company that helped me a lot was aīre ventures. They were called Opportunity Connect when I first started, but aīre ventures, they helped me a lot with financials, bookkeeping, learning my business and things of that nature.' McDowell said business owners don't necessarily need a big budget for social media. One way to get out there is to take videos of your work and share them. 'We post flyers, because sometimes you've got to get information out,' she said. 'But videos — somebody needs to be taking a video. You post it, and then that's how you're going to get engagement. It's videos of people doing things, doing regular things.' Taylor has received grants from organizations like the Miami Foundation and acknowledged that they can help small business owners excel. But he recommends that entrepreneurs use the money wisely and don't grow dependent on them. 'Once you apply for your grants and loans, don't ever expect them,' Taylor said. 'Don't ever wait on them. Because you can get a grant today, and you might not get that grant money for eight months after they tell you that you got the grant.' Taylor recommends that entrepreneurs establish good personal credit so that they can eventually use and build business credit. 'Make sure you have your credit in place [by] building your personal credit first, but that's something that you want to almost try to get away from,' he said. 'You need to start thinking about business credit. ... Getting your personal credit up to where it needs to be, you can walk into a bank, no problems.' The Miami-Dade Chamber offers AI training, and Pigatt said that using AI can help small business owners in a big way. 'You can look up business use cases for ChatGPT, marketing use cases for ChatGPT, and people will break down these use cases,' he said. 'When you see how other people are using it, then you can see how you use it for yourself.' McDowell said her staff recently encouraged her to use ChatGPT to help write a business proposal. 'It gave me a wonderful proposal, and now we got the account,' she said. 'So it's really there to make your life easier. But I don't think AI is ever going to be able to duplicate me or you or any of us.' Taylor said he uses AI to help craft email responses when the situation calls for it. 'Responding to emails we're all dealing with, disgruntled customers, just using AI to respond to emails in a nice, smooth manner. You know, there's people that ask me to do events and stuff like that, and I don't like to turn anything down, but I need to be able to make a certain amount of money,' he said. 'To be able to let people down in a nice way and respond to people in a nice way, I think that's what it helps me with, personally.'
