US: Dow hits record high at open on rate-cut optimism, UnitedHealth boost
The Dow Jones Industrial Average rose 248.7 points, or 0.55 per cent, at the open to 45,159.91.
The S&P 500 rose 8.8 points, or 0.14 per cent, at the open to 6,477.38, while the Nasdaq Composite dropped 1.3 points, or 0.01 per cent, to 21,709.336 at the opening bell. REUTERS
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Straits Times
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- Straits Times
Brazil is open for business, Lula says at Chinese factory opening
Sign up now: Get ST's newsletters delivered to your inbox FILE PHOTO: Brazil's President Luiz Inacio Lula da Silva poses for a picture after an interview with Reuters at the Alvorada Palace, in Brasilia, Brazil, August 6, 2025. REUTERS/Adriano Machado/File Photo SAO PAULO - Brazilian President Luiz Inacio Lula da Silva said on Friday that foreign companies that want to do business in Brazil are welcome, speaking at the opening ceremony for a factory for Chinese automaker GWM in the state of Sao Paulo. "Count on the Brazilian government. Whoever wants to leave, leave. Whoever wants to come, we welcome you with open arms," Lula said at the ceremony. During his speech, Lula criticized the 50% tariffs on Brazilian goods imposed by U.S. President Donald Trump, and said that his country is facing an "unnecessary turbulence." Lula said in an interview with Reuters earlier this month that he would initiate a conversation at the BRICS group of developing nations, which includes China, about how to tackle Trump's tariffs. The leftist leader noted that in the past automakers Ford and Mercedes have decided to scale back their operations in Brazil, but celebrated the arrival of other companies, like China's GWM . Brazil is always open to negotiating business, he stressed. GWM's Brazilian arm has capacity to produce 50,000 vehicles per year and is expected to generate more than 2,000 jobs in the future when it begins exporting vehicles to Latin America, according to a press release. Brazil's auto exports are expected to grow 38.4% in 2025 compared to 2024, reaching 552,000 units, data from automakers association Anfavea showed last week. REUTERS
Business Times
2 hours ago
- Business Times
US: Stocks mostly lower after mixed data
[NEW YORK] Wall Street stocks finished mostly lower on Friday (Aug 15) with chip companies under pressure as markets digested mixed US economic data. US retail sales climbed 0.5 per cent in July to US$726.3 billion from June, in line with analyst expectations and a solid performance after numerous tariff announcements by President Donald Trump. But the Federal Reserve's index for industrial production edged down in July, while the University of Michigan's consumer sentiment survey fell for the first time in four months. The Dow Jones Industrial Average eked out a 0.1 per cent gain at 44,946.12, after earlier hitting an intraday all-time high. But the broad-based S&P 500 dropped 0.3 per cent to 6,449.8, while the tech-rich Nasdaq Composite Index slid 0.4 per cent to 21,622.57. Steve Sosnick of Interactive Brokers said Friday's reports amounted to a 'difficult combination' of data that the market took in stride. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up 'When the news is good, (stocks) react really positively,' he said. 'And when the news isn't good, they just go down a little.' Several semiconductor companies traded lower following a disappointing outlook from Applied Materials, which tumbled 14.1 per cent as it warned of lower revenues in the current quarter while it navigates 'near-term uncertainties' in economic conditions. Trump also announced plans to set tariffs on semiconductors in the coming weeks. Lam Research, KLA and Micron Technology all finished sharply lower. But UnitedHealth Group surged 12 per cent after Warren Buffett's Berkshire Hathaway disclosed an equity stake in the insurer, which has been beset with government investigations into its billing practices. AFP

Straits Times
3 hours ago
- Straits Times
US stocks mostly lower after mixed data
Sign up now: Get ST's newsletters delivered to your inbox Traders working on the floor of the New York Stock Exchange, in New York City, on Aug 15. NEW YORK - Wall Street stocks finished mostly lower on Aug 15 with chip companies under pressure as markets digested mixed US economic data. US retail sales climbed 0.5 per cent in July to US$726.3 billion (S$930 billion) from June, in line with analyst expectations and a solid performance after numerous tariff announcements by President Donald Trump. But the Federal Reserve's index for industrial production edged down in July, while the University of Michigan's consumer sentiment survey fell for the first time in four months. The Dow Jones Industrial Average eked out a 0.1 per cent gain at 44,946.12, after earlier hitting an intraday all-time high. But the broad-based S&P 500 dropped 0.3 per cent to 6,449.80, while the tech-rich Nasdaq Composite Index slid 0.4 per cent to 21,622.57. Mr Steve Sosnick, of Interactive Brokers, said the Aug 15 reports amounted to a 'difficult combination' of data that the market took in stride. 'When the news is good, (stocks) react really positively,' he said. Top stories Swipe. Select. Stay informed. Singapore Ong Beng Seng fined $30k in case linked to ex-minister Iswaran after judge cites judicial mercy Singapore Why was Ong Beng Seng fined instead of jailed? Key points from the case Singapore ICA to review Ong Beng Seng's PR status after he is fined for abetting obstruction of justice Singapore Drug trafficker gets death sentence commuted after President Tharman grants clemency Asia Former China envoy to Singapore Sun Haiyan reappears after reported questioning Life Founder of Singapore Symphony Orchestra Choo Hoey dies at 90 Singapore Hawkers at Bukit Canberra Hawker Centre will not need to provide free meals under new contracts 'And when the news isn't good, they just go down a little.' Several semiconductor companies traded lower following a disappointing outlook from Applied Materials, which tumbled 14.1 per cent as it warned of lower revenues in the current quarter while it navigates 'near-term uncertainties' in economic conditions. Mr Trump also announced plans to set tariffs on semiconductors in the coming weeks. Lam Research, KLA and Micron Technology all finished sharply lower. But UnitedHealth Group surged 12 per cent after Warren Buffett's Berkshire Hathaway disclosed an equity stake in the insurer, which has been beset with government investigations into its billing practices. AFP