Stock Market Today: Dow Futures Fall After Trump Unveils 50% Brazil Tariff — Live Updates
Diverting from the form letter sent to other countries, Trump used his Brazil message to criticize the country's legal case against Jair Bolsonaro, Brazil's former leader. The tariffs, Trump wrote, would be based in part on Brazil's "insidious attacks on Free Elections" and its treatment of Bolsonaro, which Trump called "an international disgrace."
Early Thursday, stock futures fell modestly, while copper prices rose after Trump said 50% duties on imports of the metal would take effect next month. Prices for the metal hit record highs Tuesday, when Trump first announced the levy.
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Yahoo
5 minutes ago
- Yahoo
FTSE 100 LIVE: Markets higher as EU agrees 15% tariff in US trade deal
The FTSE 100 (^FTSE) and European stocks marched higher on Monday morning as investors cheered a trade deal struck over the weekend between the EU and US. The deal comes ahead of the 1 August deadline set by US president Donald Trump and brings more certainty about the future of commerce between the bloc and the US for investors. The pair agreed on a 15% tax on all EU goods — half of the 30% previously threatened by Trump. They also agreed to zero tariffs on certain products. Although the deal brings more certainty to trade relations, Trump could still change its terms as it is just a "high-level" agreement at this point. It also brings higher tariffs than have historically been implemented. In addition, the US set out an agreement with Japan and is set to meet with Chinese officials on Monday to hammer out new terms for import and export levies. Stocks: Create your watchlist and portfolio Sunday's deal was announced after private talks between Trump and European Commission president Ursula von der Leyen at his Turnberry golf course in South Ayrshire. London's premier index rose 0.4% after the opening bell. Martin Sorrell's WPP (WPP.L) and asset manager ICG (ICG.L) were among the top risers in the index. The DAX (^GDAXI) in Germany jumped 0.7%. The CAC 40 (^FCHI) in Paris rose more than 1.1%. The pan-European STOXX 600 (^STOXX) gained 0.8%. The euro (GBPEUR=X) fell slightly against the pound. Coming up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to up this week: heavyweight earnings and central bank decisions Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Investor eyes are now turning to a jam-packed week on Wall Street. Heavyweight earnings highlight the most intense stretch of the season, with more than 150 S&P 500 companies set to report. Meta Platforms (META) and Microsoft (MSFT) lead off Wednesday, followed by Amazon (AMZN) and Apple (AAPL) on Thursday. HSBC (HSBA.L) also reports on Wednesday, while Shell (SHEL.L) is up on Thursday. Beyond earnings, the Federal Reserve takes centre stage. The central bank kicks off a two-day meeting Tuesday, with a decision expected Wednesday afternoon. While rates are widely expected to remain in the 4.25%-4.50% range, traders will be listening closely for any signs that policymakers are warming to a possible rate cut in September. All this is occurring alongside legal battles to open up the Fed's meetings to investor eyes, as well as Trump's general pressure on the central bank and Chair Jerome Powell. Here's the US stock futures chart US stock futures jump on EU-US deal US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance US stock futures edged higher on Monday morning as investors braced for a packed week featuring earnings from Big Tech heavyweights, a Federal Reserve meeting, inflation data, and President Trump's Aug. 1 deadline to lock in key trade deals. Futures tied to the Dow Jones Industrial Average (YM=F) were up about 0.4%, while S&P 500 futures (ES=F) gained 0.5%. Nasdaq 100 futures (NQ=F) rose 0.6%. The rally follows a strong week on Wall Street. All three major indexes posted gains Friday, with the S&P 500 closing at an all-time high for a fifth straight session. Market sentiment got a boost Sunday night after the US and European Union reached a deal to reduce tariffs to 15% on EU goods, easing tensions with one of America's largest trading partners. Trump had previously been threatening imposing 30% tariffs from Friday. Read more on Yahoo Finance Good morning! Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. Hello from London. Lucy Harley-McKeown here, gearing up to bring you the news after a very eventful weekend. The EU and US finally agreed a trade deal over the weekend ahead of the fast-approaching 1 August deadline set by president Trump. Coming up, first-half results from: Essilor Luxottica ( Heineken ( and Porsche ( Let's get to it. 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Business Insider
6 minutes ago
- Business Insider
China says it wants the world to work together to govern AI. The US, not so much.
At this weekend's World Artificial Intelligence Conference in Shanghai, boxing robots thrilled the crowd. But the real heavyweight bout is between the US and China over the future of AI. The theme of the Shanghai conference, which was organized in part by the Chinese government and lasts until Monday, is "global solidarity in the AI era." In his keynote address, Chinese Premier Li Qiang called for a new global organization to coordinate responses to AI advancements. "Overall, global AI governance is still fragmented. Countries have great differences, particularly in terms of areas such as regulatory concepts, institutional rules," he said, speaking in Chinese. "We should strengthen coordination to form a global AI governance framework that has broad consensus as soon as possible." Li's pitch contrasted with comments made by US President Donald Trump earlier in the week. On Wednesday, the US president released his " AI Action Plan" and signed three executive orders. All of them, Trump said, were designed to free AI companies from regulatory burdens. "From this day forward, it'll be a policy of the United States to do whatever it takes to lead the world in artificial intelligence," he said before signing his executive orders. Trump's doctrine will likely benefit American AI companies. Many of them, like OpenAI, Meta, and Google DeepMind, submitted recommendations to the president and praised the new policies. However, it's an open question whether forgoing stricter regulations in the United States will benefit humanity. AI industry leaders have long warned about the threats AI could pose — everything from disinformation and economic inequality to total loss of all human control. In 2023, a group of prominent AI scientists, including OpenAI CEO Sam Altman, Google DeepMind CEO Demis Hassabis, and Anthropic CEO Dario Amodei, signed a one-sentence statement calling for AI regulation. "Mitigating the risk of extinction from AI should be a global priority alongside other societal-scale risks such as pandemics and nuclear war," it said. Altman said last year that AI could have a "negative impact way beyond the realm of one country." He said the tech should be regulated by an "international agency looking at the most powerful systems and ensuring reasonable safety testing." One way to do that is through an agreed-upon global framework similar to the Nuclear Nonproliferation Treaty, which is enforced by the United Nations and which all but four countries have signed. The UN tech chief, Doreen Bogdan-Martin, told the AFP on Saturday that the world urgently needed a global deal to regulate AI. "We have the EU approach. We have the Chinese approach. Now we're seeing the US approach. I think what's needed is for those approaches to dialogue," she said. The Trump administration, however, is likely to hinder any such international agreement. Beyond its own effort to loosen restrictions at home, it has largely dismissed other global collaborations in favor of its America First policy. At the Shanghai conference, Geoffrey Hinton, a computer scientist known as the Godfather of AI, said international cooperation on AI would be difficult. He said few countries agree on basics like how misinformation should be policed. He said there was one subject, however, on which the whole world seems aligned: Humans should not let AI supersede their control. "So on that particular issue, it should be easy to get international collaboration," he said at the conference, adding, however, that it "may be difficult with the current US administration." "But rational countries will collaborate on that," he said.
Bloomberg
7 minutes ago
- Bloomberg
BMW, Mercedes Dodge Trade Shock With €4 Billion Tariff Reprieve
By and Stefan Nicola Save BMW AG, Mercedes-Benz Group AG and other European automakers are getting a €4 billion ($4.7 billion) earnings lift from the trade deal the European Union struck with the US, according to Bloomberg Intelligence. European auto stocks rose on Monday over news that the rate on car imports from the EU would be lowered to 15% from 27.5%. BMW and Mercedes are also benefiting from tariff exemptions for about 185,000 cars they export annually from their American factories, BI analyst Michael Dean said in a note.
