
US stocks end mostly up as markets eye trade talks
NEW YORK: Wall Street stocks edged higher Monday as US and Chinese representatives held high-stakes trade talks and markets looked ahead to key economic data.
Trade representatives for the world's two biggest economies plan a second day of talks on Tuesday following an opening round on Monday.
Although there were no breakthroughs, the market has welcomed the negotiations.
"There's hopes that they're inching closer to some sort of a deal," said Peter Cardillo of Spartan Capital Securities.
The Dow Jones Industrial Average finished flat at 42,761.76.
The broad-based S&P 500 climbed 0.10 per cent to 6,005.88, while the tech-rich Nasdaq Composite Index added 0.30 per cent at 19,591.24.
Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer are leading the US delegation, while China's team included Commerce Minister Wang Wentao and China International Trade Representative Li Chenggang.
Among individual companies, Apple fell 1.20 per cent after company executives emphasised its artificial intelligence efforts at the tech giant's annual developers conference, including allowing app makers to directly access a device's AI capabilities.
Apple has lagged some rivals in introducing AI-advancing updates to its Siri voice assistant and other programmes.
Warner Brothers Discovery finished down 3.00 per cent after unveiling a plan to split itself into two companies to better position for the streaming era.
The entertainment giant will break itself into two publicly traded companies: one covering "Streaming & Studios" and the other "Global Networks."
The shift, designed to enable each venture to "maximise its potential," is expected to be completed by mid-2026, the company said.
This week's agenda includes releases on consumer and producer prices, key benchmarks on inflation.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
10 minutes ago
- The Star
From rides to learning: Thai elephant camps reinvent themselves to survive
BANGKOK: Thailand's renowned elephant camps are battling to survive as the country's economic downturn and dwindling tourist numbers threaten their very existence. These iconic attractions, particularly concentrated in Chiang Mai province, are being forced to dramatically reinvent themselves to keep both elephants and staff alive. Mae Taeng Elephant Park, one of the region's most established camps, exemplifies the struggle facing the industry. - Photo: The Nation/ANN The facility has responded by expanding its educational arm, "Hug Elephant," which has been operating for a decade alongside traditional elephant riding and shows. "We've had to completely rethink our approach," explains Thanabhumi Asoketrakoon, corporate communications manager at Mae Taeng Elephant Park. "The traditional model simply isn't sustainable in the current climate. Educational tourism takes centre stage The camp's educational programme offers visitors a five-station experience priced at 1,650 baht, including mahout clothing. Guests learn about elephant care whilst participating in activities such as preparing health supplements, making herbal soap, feeding, and bathing the animals. The programme features carefully selected elephants comfortable with human interaction, including Phu Pink, a young elephant celebrity with 150,000 social media followers who once participated in a challenge with Jackson Wang. "We focus on education rather than entertainment," Thanabhumi notes. "Visitors dress as mahouts and learn about elephant behaviour, diet, and care practices." Multiple crises compound challenges The industry faces a perfect storm of challenges that have devastated visitor numbers: Natural Disasters: Flooding in October and earthquakes reduced tourist arrivals by 50 per cent. Seasonal Variations: Peak season runs from October to March, with September being particularly challenging—dubbed the "month of hunger" by operators and guides. Economic Pressures: Poor economic conditions mean fewer people can afford leisure travel. Haze Pollution: Annual air quality issues, though this year's early rains provided relief. Covid-19 Legacy: The pandemic nearly forced closures, with operators selling homes and cars to survive. Astronomical operating costs Perhaps most daunting are the daily expenses. Each elephant requires 500 baht worth of food daily, consuming 10 per cent of their body weight in grass, corn stalks, and other vegetation. With 62 elephants across both facilities (13 at Hug Elephant, 49 at Mae Taeng), monthly food costs alone reach 300,000-400,000 baht. "Elephants must eat every day," Thanabhumi emphasises. "These costs increase annually, regardless of visitor numbers." - Photo: The Nation/ANN Strategic adaptation and international outreach The camps have adopted a multi-pronged survival strategy: Tourism Promotion: Participating in Tourism Authority of Thailand events to revive the Chinese market, which comprises 70 per cent of their clientele. International Expansion: Establishing booths in nearly 10 countries, including Singapore, Malaysia, Taiwan, and the Philippines, to connect with tour agents. Local Partnerships: Collaborating with Chiang Mai's tourism industry council and business associations for mutual support. Cultural Diplomacy: This June, the camp will host weddings for three American couples on elephant-back, featuring US media coverage and Thai embassy representatives—a "soft power" initiative showcasing Thai culture internationally. - Photo: The Nation/ANN Community impact and social responsibility The operation supports 300 employees, including restaurant staff and the Karen long-neck village community. Men work as mahouts, raft guides, and drivers, whilst women serve as housekeepers and cooks. The camp provides housing, utilities, and rice for 4,000 baht monthly. Before Covid-19, the facility welcomed up to 2,700 visitors daily during peak periods. Currently, they average 200 visitors on weekdays and 700-1,200 during high season. - Photo: The Nation/ANN Diversification and innovation The camps continue operating traditional activities alongside new offerings. Mae Taeng maintains elephant shows and rides, plus non-elephant activities like ox-cart rides and bamboo rafting on the Mae Taeng River. The educational programme has proven particularly successful with international visitors from Taiwan, Singapore, Malaysia, Europe, America, Australia, the Middle East, and Israel. Recent years have seen increased visitors from South Korea, Spain, France, and Italy. Thai visitors comprise only 10 per cent of guests, primarily elephant enthusiasts or corporate groups. The camp attempts to attract more domestic tourists through "elephant influencers" and special pricing for Thai elephant followers. - Photo: The Nation/ANN Looking forward As Thailand's tourism industry slowly recovers, these adaptations may prove crucial for survival. The shift from entertainment to education represents a fundamental change in how elephant tourism operates, potentially setting new standards for the industry. "We're not just trying to survive," Thanabhumi concludes. "We're trying to create a sustainable model that benefits elephants, employees, and the community whilst providing meaningful experiences for visitors." The question remains whether these innovative approaches will be sufficient to weather the ongoing economic challenges and changing tourist expectations in post-pandemic Thailand. - The Nation/ANN


The Star
44 minutes ago
- The Star
Ghana hosts forum on China-Africa cooperation in EV manufacturing
ACCRA, June 10 (Xinhua) -- The 2025 China-Africa Automotive Development Forum was held Tuesday in Ghana to discuss opportunities for China-Africa cooperation in electric vehicle (EV) production. The forum, co-hosted by the Confucius Institute of the Kwame Nkrumah University of Science and Technology and Hubei University of Automotive Technology, took place in Kumasi, the West African country's second-largest city. Themed "Intelligent Manufacturing of Lightweight EVs," the forum brought together experts, policymakers, investors, and engineers from China and African countries to discuss the necessity and feasibility of EV development in Africa's automotive industry in the future. Li Yang, minister-counselor of the Chinese Embassy in Ghana, said Africa always remains a priority in China's overall diplomatic strategy, as it is an emerging continent that drives global economic growth. "Regardless of changes in the international landscape, China's commitment to Africa remains unwavering, and China's dedication to jointly advancing industrialization with Ghana remains persistent," Li said. Seth Mahu, director in charge of renewable energy at the Ghanaian Ministry of Energy and Green Transition, said in a statement that Ghana has laid the groundwork for the manufacture of EVs with policy support. "Partnership with China through technology transfer, joint ventures, and training can accelerate our progress exponentially. This forum must be a bridge between Ghana and China to share ideas on implementation, ambition, and achievement," Mahu added.

Barnama
2 hours ago
- Barnama
1st Meeting Of China-US Economic, Trade Consultation Mechanism Opens In London, Attracting Global Attention
WORLD U.S. Treasury Secretary Scott Bessent and Chinese vice premier He Lifeng pose for a photo with U.S. Trade Representative Jamieson Greer, U.S. Secretary of Commerce Howard Lutnick, Chinese Commerce Minister Wang Wentao, and China's International Trade Representative and Vice Minister of Commerce Li Chenggang, in London, Britain June 9, 2025. United States Treasury/Handout via REUTERS LONDON, June 10 (Bernama-Xinhua) -- The first meeting of the China-US economic and trade consultation mechanism opened here on Monday, attracting global attention. Chinese Vice Premier He Lifeng, also a member of the Political Bureau of the Communist Party of China Central Committee, attended the meeting with US representatives, Xinhua news agency reported. Business leaders welcomed the meeting, expecting win-win outcomes. "Only through mutual respect can we achieve win-win cooperation," said Yang Ming, CEO of Westwell Holdings (Hong Kong) Ltd, a Chinese artificial intelligence (AI) technology company. Attend the ongoing London Tech Week events, Yang said she wished to see normalised economic and trade relations restored between the two nations, calling on both governments to strengthen collaboration in AI and join forces to create new frontiers in global innovation. OBE Chief Executive Officer at London & Partners Laura Citron told Xinhua that stable trade relationships between the biggest economies in the world would always be a good thing for the global economy, adding that London as a city is a very outward-facing trading economy. "We're very keen to see strong and predictable trade relationships between the U.S. and China," she said. -- BERNAMA-XINHUA