Kohl's shares surge over 100% amid social media fueled frenzy. Here's all you need to know
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Shares of the retailer surged as much as 105% during early trading, marking the largest one-day increase on record and returning the stock to levels last seen nearly a year ago. The stock was briefly halted due to volatility after trimming its gains and was approximately 27 per cent higher at 9:52 a.m. in New York, according to a report by Bloomberg News.
Also Read | Stocks to buy under ₹100: Experts recommend two shares to buy tomorrow
'It's all social media chatter. Remember that a highlight of the meme stock era was a dose of nostalgia for companies like GameStop and AMC,' Steve Sosnick of Interactive Brokers told Bloomberg. 'Social media chatter can become self-fulfilling," he added.
Short interest, which is the amount of shares borrowed to short, accounts for approximately 48 per cent of Kohl's float, the report said citing data from S3 Partners LLC. This figure way above than the levels reported by companies such as Apple Inc. and Tesla Inc., which have less than 3 per cent of their float borrowed to short. GameStop Corp, a prominent entity of the meme stock era, has about 20% short interest.
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Kohl's stock rose steadily from an early April low, mainly due to US President Donald Trump's escalation of tariffs on Liberation Day, gaining more than 60 per cent by yesterday's close. However, shares were still over 25 per cent lower through Monday as the retailer faced a sales decline and dealt with the repercussions of firing its chief executive officer, Ashley Buchanan, just months after he took the role.
Also Read | European shares dip as mixed earnings, trade anxiety weigh
Notably, the Dow Jones, Nasdaq Composite, and S&P 500 opened flat during the market session on Tuesday without significant movement as US investors concentrated on President Donald Trump's trade agreements with global nations and corporate earnings.
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Hindustan Times
8 minutes ago
- Hindustan Times
Explained: Donald Trump's landmark $1.35 trillion trade deal with EU before tariff deadline
In a significant breakthrough, President Donald Trump on Sunday announced that the United States and the European Union have reached a comprehensive trade deal, just days before a 30 per cent tariff on European imports was due to take effect. U.S. President Donald Trump and European Commission President Ursula von der Leyen announced a trade deal between the US and the EU.(REUTERS) After high-stakes negotiations in Scotland's Turnberry with European Commission President Ursula von der Leyen, the two leaders revealed a new trade framework aimed at averting a full-blown transatlantic trade war. The deal, according to CNN, hailed by both sides as 'powerful' and 'historic', centers around new tariffs, large-scale energy purchases, and significant investment commitments. Also read: Donald Trump turns up to play golf amid protests against his Scotland trip What does the US-EU deal include? Under the terms of the agreement, the EU will purchase $750 billion worth of US energy, marking a massive expansion in transatlantic energy cooperation. Additionally, the 27-member bloc has committed to investing $600 billion more into the US than its current levels, stated another CNBC report. The report added that in exchange, Trump has agreed to impose a 15 per cent tariff on most European imports to the US, down from the 30 per cent rate he previously announced. The deal is expected to significantly ease trade tensions between the long-time allies. A CNBC report quoted Donald Trump declaring that this was a 'very big deal, biggest of all' as he stood alongside von der Leyen. Meanwhile, the European Commission chief, speaking after the meeting, acknowledged the difficulty of the talks and said, 'It is a good deal, it is a huge deal, with tough negotiations.' Donald Trump-EU deal impact The agreement was finalized just before the August 1 deadline, after which the Trump administration had vowed to raise tariffs on most EU goods from 10 per cent to 30 per cent. Earlier in the day, US Commerce Secretary Howard Lutnick had reaffirmed that Washington would not give further extensions, calling the deadline 'firm', reported CNN. Had the talks collapsed, Brussels was prepared to launch a major counter-tariff package targeting a wide range of US exports and invoke its new Anti-Coercion Instrument, a legislative mechanism designed to push back against economic pressure. Also read: Trump says US will work with Thailand and Cambodia, adds both 'want to settle' A fractured trade relationship The US-EU trade relationship is among the world's largest, valued at nearly $1.97 trillion in 2024, including both goods and services. While the EU ran a goods trade surplus, it faced a deficit in services, resulting in an overall $58.7 billion surplus with the US. Trump repeatedly criticized the imbalance and used it to justify tougher trade terms. 'The US and EU have one of the largest trade deficits,' he had said, defending the imposition of tariffs as leverage. FAQs What is the latest trade deal Trump announced? Trump and EU President Ursula von der Leyen finalized a deal where the EU will buy $750 billion in US energy and invest $600 billion more into the country in exchange for lower tariffs. Why was this deal considered urgent? It came just days before Trump was set to increase tariffs on European imports from 10 per cent to 30 per cent on August 1. What was at stake in the US–EU trade balance? The EU had a $58 billion overall surplus with the US in 2023, mainly due to goods exports, prompting Trump to demand fairer trade terms. What other trade deals has the Trump administration secured? The administration has renegotiated NAFTA (now USMCA), reached agreements with Japan and South Korea, and imposed tariffs on China during its broader trade overhaul. What is the proposed new tariff structure? Instead of the planned 30 per cent hike, the new deal imposes a 15 per cent across-the-board tariff on most EU imports. What are the key risks or criticisms? Critics argue the deal may strain diplomatic ties, shift costs to consumers, and provoke retaliation from other trading partners not offered similar terms.

The Hindu
38 minutes ago
- The Hindu
U.S., E.U. reach an 'across the board' agreement on tariffs
The United States and the European Union reached a tariff deal Sunday (July 27, 2025) after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen. A White House deadline was days away for imposing punishing import taxes on the 27-member E.U., which is America's leading global trading partner. 'It was a very interesting negotiation. I think it's going to be great for both parties,' Mr. Trump said. The make-or-break talks were meant to head off trade penalties — and promised retaliation from Europe — that could have sent shock waves through economies around the globe. Mr. Trump and Ms. Von der Leyen held private talks at one of Mr. Trump's golf courses in Scotland, then emerged a short time later saying they had reached an 'across the board' agreement. In remarks before the session, Mr. Trump pledged to change what he characterised as 'a very one-sided transaction, very unfair to the United States.' 'I think the main sticking point is fairness,' he said while also noting, 'We've had a hard time with trade with Europe, a very hard time.' Ms. Von der Leyen had said the U.S. and E.U. combined have the world's largest trade volume, encompassing hundreds of millions of people and trillions of dollars. Trump said the stakes involved meant of making a deal, 'We should give it a shot.' Ms. Von der Leyen said Mr. Trump was 'known as a tough negotiator and dealmaker' which caused the president to interject with 'but fair." She said that, if they are successful, 'I think it would be the biggest deal each of us has ever struck.' For months, Mr. Trump has threatened most of the world with large tariffs in hopes of shrinking major U.S. trade deficits with many key trading partners. More recently, he had hinted that any deal with the EU would have to 'buy down' the currently scheduled tariff rate of 30%. The Republican president pointed to a recent U.S. agreement with Japan that set tariff rates for many goods at 15% and suggested the E.U. could agree to something similar. Asked if he would be willing to accept tariff rates lower than that, Mr. Trump said 'no.' As for the threat of retaliation from the Europeans, he said: 'They'll do what they have to do.' Their meeting came after Mr. Trump played golfed for the second straight day at his Turnberry course, this time with a group that included sons Eric and Donald Jr. The President's five-day visit to Scotland is built around golf and promoting properties bearing his name. A small group of demonstrators at the course waved American flags and raised a sign criticizing British Prime Minister Keir Starmer, who plans his own Turnberry meeting with Mr. Trump on Monday. Other voices could be heard cheering and chanting 'Trump! Trump!' as he played nearby. On Tuesday, Mr. Trump will be in Aberdeen, in northeastern Scotland, where his family has another golf course and is opening a third next month. The President and his sons plan to help cut the ribbon on the new course. Joining Ms. Von der Leyen were Maros Sefcovic, the E.U.'s chief trade negotiator; Björn Seibert, the head of Ms. Von der Leyen's Cabinet; Sabine Weyand, the commission's directorate-general for trade, and Tomas Baert, head of the trade and agriculture at the EU's delegation to the US. The deadline for the Mr. Trump administration to begin imposing tariffs has shifted in recent weeks but was now firm, the administration insisted. 'No extensions, no more grace periods. August 1, the tariffs are set, they'll go into place, Customs will start collecting the money and off we go," US Commerce Secretary Howard Lutnick told 'Fox News Sunday.' He added, however, that even after that 'people can still talk to President Trump. I mean, he's always willing to listen.' Without an agreement, the EU said it was prepared to retaliate with tariffs on hundreds of American products, ranging from beef and auto parts to beer and Boeing airplanes. If Mr. Trump eventually made good on his threat of tariffs against Europe, it could meant that everything from French cheese and Italian leather goods to German electronics and Spanish pharmaceuticals would be more expensive in the United States. The U.S. and Britain, meanwhile, announced a trade framework in May and a larger agreement last month during the Group of Seven meeting in Canada. Mr. Trump says that deal is concluded and that he and Mr. Starmer will discuss other matters — though the White House has suggested it still needs some polishing.


Time of India
an hour ago
- Time of India
Fresh polling reveals a dramatic shift among key voters, raising big questions for 2026
President Donald Trump 's approval rating has sunk to its lowest level of his second term, according to a new Gallup poll , as Americans grow increasingly divided over his handling of immigration, the economy, and the federal budget. The Gallup survey, conducted July 7-21, puts Trump 's job approval at 37 percent, down from 47 percent at the start of the year. Fifty-eight percent disapprove, marking one of the steepest drops in his presidency. Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Data Science Finance Digital Marketing Healthcare healthcare Leadership Data Science Product Management Operations Management Project Management Data Analytics CXO MBA Management Degree Artificial Intelligence MCA Design Thinking Cybersecurity others Others Public Policy Technology Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details The numbers highlight a sharp shift among independent voters , whose approval has fallen to 29 percent, a 17-point decline since January. That figure is the lowest Gallup has recorded for independents in either of Trump's terms. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo 'About six months into the second Trump administration, the president's approval rating has stabilized in the mid-40s,' said Spencer Kimball, executive director of Emerson College Polling. 'While his disapproval has steadily increased about a point each month since the inauguration and now stands at 47 percent.' An Emerson College poll conducted from July 21 to 22 found Trump at 46 percent approval and 47 percent disapproval, largely unchanged from June. Trump scored highest on immigration, with 45 percent approving and 46 percent disapproving, and lowest on the economy, where just 41 percent approve and 51 percent disapprove. Live Events A Fox News poll taken July 18-21 mirrored those numbers, showing 46 percent approval and 54 percent disapproval. Republicans remain solidly behind the president, with nearly 9 in 10 backing him, but independents and Democrats overwhelmingly disapprove. Trump's weak marks come as his administration faces scrutiny over immigration enforcement and recent tariff policies. Public confidence in his economic leadership has slipped sharply amid fears of slowing growth. Gallup reports just 19 percent of Americans approve of his handling of the federal budget, the lowest on any major issue tested. Despite the dip, Trump retains near-unanimous backing among Republicans and strong support on border security, where Fox News found 56 percent of voters approve of his approach. The erosion of independent support could have big implications for the 2026 midterm elections . Historically, second-term presidents tend to see their approval rebound after early turbulence.