Taiwan Stock Gauge Surges by Record After US Tariff Reprieve
Taiwan stocks surged by a record on Thursday, tracking a global rebound after President Donald Trump announced a pause on higher tariffs.
The benchmark Taiex jumped more than 9.3%, with Taiwan Semiconductor Manufacturing Co. and MediaTek Inc. among the biggest boosts as they rose by their 10% daily limit.
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Yahoo
41 minutes ago
- Yahoo
US stock futures fall after Israel attacks Iran
(Reuters) -U.S. stock index futures dropped on Friday after Israel's military strike on Iran escalated tensions in the oil-rich Middle East and battered risk sentiment across global markets. Israel's widescale strikes against Iran's nuclear facilities were aimed at preventing Tehran from building an atomic weapon. Iran has promised a harsh response and retaliated by launching 100 drones. The escalation of tensions in the Middle East - a major oil-producing region - sent oil prices surging more than 6% and U.S. energy stocks rose in tandem, with Chevron and Exxon advancing nearly 3% in premarket trading. The strikes come just days ahead of a planned sixth round of nuclear talks between Iran and the United States. Tensions had been building as U.S. President Donald Trump's efforts to reach a nuclear deal with Iran appeared to be deadlocked. U.S. Secretary of State Marco Rubio called the Israeli offensive a "unilateral action" and said Washington was not involved. At 04:32 a.m. ET, Dow E-minis were down 505 points, or 1.17%, S&P 500 E-minis were down 70.5 points, or 1.17%, and Nasdaq 100 E-minis were down 309.25 points, or 1.41%. A 1.6% slump in Russell futures pointed to sharp declines for domestically focused stocks. Airline stocks dipped as the surge in crude prices raised concerns about higher fuel costs. Delta Air Lines was down 3.9%, United Airlines dropped 4.8%, Southwest Airlines lost 2.5% and American Airlines declined 3.9%. Defense stocks rose, with Lockheed Martin up 4.7%, RTX Corporation up 5.5%, Northrop Grumman up 4.2% and L3harris Technologies up 4.3%. The S&P 500 still remains just 1.8% below its record high reached earlier this year, following stellar monthly gains in May driven by upbeat corporate earnings and a softening in Trump's trade stance. The tech-heavy Nasdaq is about 2.8% off its record closing high reached in December last year. Investors are now focused on the Federal Reserve's meeting scheduled next week where policymakers are expected to keep interest rates unchanged. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Newsweek
an hour ago
- Newsweek
California High-Speed Rail Shares Update on 'Momentous Achievements'
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. The California High-Speed Rail Authority has released new information on construction progress and ongoing job creation across the state this week, describing the latest infrastructure milestones as "momentous achievements." In an update on Thursday, the largest high-speed rail project in the country said 53 of the 93 structures required for the first phase had finished construction. Why It Matters California's high-speed rail project has attracted political scrutiny from President Donald Trump, who criticized the state's rail efforts and threatened to eliminate federal funding. Originally approved by voters in a 2008 ballot initiative, the track seeks to connect two of California's most important cities—Los Angeles and San Francisco—via the Central Valley, linking with several smaller areas that have historically not benefited from transport infrastructure. The project has been delayed several times and required additional federal funding in 2019. Trump has branded it a "waste" and a "green disaster." What To Know The California High-Speed Rail Authority has announced the completion of 53 structures and almost 70 miles of guideway between Merced and Bakersfield since construction began. The finished structures include the 4,741-foot San Joaquin River Viaduct in Fresno and the Hanford Viaduct in Kings County, which the authority described as the largest structure in the Central Valley for high-speed rail. "These are momentous achievements," Ian Choudri, the CEO of the California High-Speed Rail Authority, said in a news release. "Combining feats of engineering, complex logistical and legal coordination, and, on average, the labor of more than 1,700 workers in the field every day, mostly in Fresno, Kings, and Tulare Counties," he continued. "In total, 53 structures and 69 miles of guideway have been completed." An Amtrak conductor walking alongside a train on a platform at the San Jose Diridon station in California on October 25, 2024. An Amtrak conductor walking alongside a train on a platform at the San Jose Diridon station in California on October 25, 2024. Getty Images In a 14-page letter to the Federal Railroad Administration, Choudri also disputed allegations that the project had made "minimal progress" and rejected claims that there would be a $7 billion funding gap that could damage future progress. Choudri referenced California Governor Gavin Newsom's proposed extension of the Cap-and-Invest program, which is expected to provide at least $1 billion annually through to 2045. The city of Millbrae and the California High-Speed Rail Authority recently resolved a legal dispute that had threatened to delay new station construction. Terms finalized in the agreement guarantee Millbrae land-use oversight and integration of high-speed rail with systems such as BART, Caltrain and SamTrans. The authority said more than 15,300 construction jobs had been created since the project's initiation, with the majority filled by Central Valley residents. What People Are Saying Ian Choudri, the CEO of the California High-Speed Rail Authority, said in a June 12 news release: "Termination of the Cooperative Agreements is unwarranted and unjustified … The Authority's work has already reshaped the Central Valley. We have built many of the viaducts, overpasses, and underpasses on which the first 119 miles of high-speed rail track will run." Millbrae Mayor Anders Fung said in an April news release: "This is a momentous milestone for Millbrae. This historic settlement represents our commitment to realizing our true potential—where high-quality public transit integrates with housing and economic development to energize the future of a thriving city." What Happens Next "Construction progresses every day on the California high-speed rail project," the authority said in its update, adding that "30 additional structures are currently under construction between Madera, Fresno, Kings, and Tulare counties."
Newsweek
an hour ago
- Newsweek
Map Shows Where Foreign Citizens Are Buying Homes In US
Based on facts, either observed and verified firsthand by the reporter, or reported and verified from knowledgeable sources. Newsweek AI is in beta. Translations may contain inaccuracies—please refer to the original content. International homebuyers are losing interest in purchasing properties in the U.S., according to a new study by with warm-weather markets suffering the most from this retreat—though Miami remains the most sought-after destination in the country. An expert spoke with Newsweek about what's driving the numbers. Why It Matters Foreign nationals represent a very small percentage of all homebuyers in the U.S., but their activities still bring dozens of billions of dollars to the country's housing market. According to 2024 data from the National Association of Realtors (NAR), foreign buyers made 1.3 percent of 4.06 million existing-home sales last year, for a total of $42 billion, which was about 2 percent of the total $2.1 trillion of the dollar volume of existing-home sales that same year. A majority of these foreign buyers lived in the U.S. (57 percent), while 45 percent bought the property for use as a vacation home, rental, or both. Dwindling interest among international buyers—especially Canadians, who represent the majority of foreign nationals purchasing homes in the U.S., suggest that the U.S. housing market has become less appealing, partially because of Donald Trump's aggressive trade policies which have targeted the U.S. neighbor and the country's biggest trading partners. This is very bad news for U.S. sellers, who are already struggling with rising inventory and falling sales, as buyers are kept on the sidelines by historically elevated mortgage rates and sky-high prices. What To Know study, published earlier this month, shows that interest in buying a residential property in the U.S. fell in all countries that can be considered the top foreign customers in the world for American homes. Between January and March, according to Canadians represented the biggest share of foreign home shoppers in the U.S., making up 34.7 percent of international traffic, followed by the U.K. (5.7 percent), Mexico (5.4 percent), Germany (3.8 percent), and Australia (3.2 percent). These numbers represent the people who showed interest in buying a home in the U.S., not those who concluded a purchase in the country. We find these same nationalities in NAR's 2024 data about international home buyers. According to the group, 13 percent of foreign buyers in 2024 were from Canada, while 11 percent came from China, 11 percent from Mexico, 10 percent from India, and 4 percent from Colombia. Together, these buyers put over $21 billion in the U.S. housing market last year. This year, based on their diminished interest in the first quarter of 2025, their investment is likely to be a little smaller. Online traffic from Canadian buyers, reported, plunged by 40.7 percent to 34.7 percent from the last quarter of 2024 to the first quarter of 2025. This retreat, according to economist Jiayi Xu, conceded exactly "with the implementation of U.S. tariffs on imported goods and a shift in U.S.-Canada relations," she told Newsweek. Canada was among the first U.S. trading partners to be hit by the Trump administration's sweeping tariffs earlier this year, and it is now facing a 50 percent tariff on its steel and aluminum imported to the U.S. as well as a 10 percent levy on some energy products. "These factors may have contributed to reduced interest among Canadians in purchasing homes or relocating to the U.S.," Xu said. But it is not just tariffs that have antagonized Canadian buyers. Trump's rhetoric about annexing the U.S. neighbor and turning into the "51st state" has angered many in Canada, who are now reconsidering even whether they should vacation south of the border. No Other Country Filling In For Canada "The drop in the share of Canadian home shoppers from 40.7 percent in Q1 2024 to 34.7 percent in Q1 2025 is primarily due to fewer Canadians purchasing homes in the US, rather than growing demand from other nationalities," Xu told Newsweek. "There is no significant increase in interest from other countries," she added. "In short, the decline is driven by reduced activity from Canada itself—not by increased competition from other countries." Interest among Mexican homebuyers, which remains relatively high, has also slightly fallen from 5.8 percent to 5.4 percent between Q1 2024 and Q1 2025, found. The country is facing similar tariffs as those applied to Canada. Florida Is Both Biggest Loser and Biggest Winner "The Sunshine State, which has long been a magnet for out-of-state movers with its sunny skies and relatively low taxes, has experienced some of the biggest drops in the share of international views from would-be buyers," Xu said. The most dramatic plunge in interest among Canadian buyers was reported in Naples, Florida, which until recently had been the most popular destination for Canadians looking to buy a second home in a warm destination. Between October and December 2024, more than 73 percent of international traffic to Naples came from Canada. This number has now fallen to 59.6 percent in the first quarter of 2025, down 13.5 percent. Other Florida cities suffered drops: North Port saw a fall in Canadian traffic of 13 percentage points during the same time, while Cape Coral reported a dip of 10.8 percentage points and Tampa one of 10.1 percentage points. Florida, however, still has the number one metropolitan area Canadian home shoppers are looking into: Miami. "Miami stands out for its year-round sunshine, beautiful beaches and vibrant lifestyle," Xu said. "In addition to its cultural diversity and global appeal, Miami's tax-friendly environment and thriving luxury real estate market continue to attract international home buyers seeking both investment opportunities and a high quality of life." Miami had the highest share of traffic from international buyers in the country in the first quarter of the year, at 8.7 percent, followed by New York (4.9 percent), Los Angeles (4.6 percent), Orlando (2.9 percent), Dallas (2.8 percent), Houston (2.6 percent), Tampa (2.5 percent) and Phoenix (2.3 percent). "New York is known for its concentration of global business opportunities, world-renowned universities, and established luxury real estate, while Los Angeles appeals with its thriving entertainment industry, cultural diversity, and sunny climate," Xu explained. "Both markets offer strong long-term investment potential and large immigrant communities that offer international buyers a welcoming and culturally connected environment." Three cities in the West—San Francisco, San Diego and Las Vegas—fell off the top 20 markets that interested international buyers the most, mainly because of their ongoing affordability issues.
