China's Long Bonds Join Global Drop as US Trade Tensions Ease
Futures on China's 30-year government securities fell as much as 0.7% on Wednesday to head for the longest run of losses since the contracts were launched in April 2023. Yields on similar-maturity debt in the cash market were on track to rise for a sixth straight session after climbing one basis point to 1.92%.
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US, EU trade talks boosted by Trump's agreement with Japan
By Philip Blenkinsop and Trevor Hunnicutt BRUSSELS/WASHINGTON (Reuters) -The European Union and the U.S. are heading for a potential trade deal that includes a 15% U.S. baseline tariff on EU goods and possible exemptions, two European diplomats said on Wednesday, potentially moving President Donald Trump closer to securing another major trade agreement hours after he unveiled one with Japan. European negotiators were hoping to reach an agreement to dodge the 30% tariff rate Trump has said he would impose on imports from the 27-nation bloc on August 1. The rate, which could also extend to cars, would mirror the framework agreement the U.S. has struck with Japan, which Trump announced late on Tuesday. The deal could include exemptions for some EU goods, the diplomats said. As talks continued, the European Commission said it would press on with potential counter-measures in case a deal was not reached. EU member states were set to vote on 93 billion euros of counter-tariffs on U.S. goods on Thursday, European diplomats said. A broad majority of members support using anti-coercion instruments if there is no deal, they said. Trump was hoping for a boost from the complicated deal reached with Japan, the largest foreign investor in the U.S., which included a $550 investment and loan pledges from Japan and its commitment to buy 100 Boeing airplanes and boost purchases of U.S. agricultural products. Tariffs on Japan's auto sector will drop from 27.5% to 15% as part of the agreement, reviving hopes for a similar deal for EU cars. Asian and European stock markets rallied as investors cheered that agreement, but U.S. stocks showed a more modest rise and earnings reports were gloomy. U.S. businesses making everything from chips to steel reported downbeat results on Wednesday, revealing how the Trump administration's chaotic trade policy has hurt profits, added to costs, upended supply chains and weighed on consumer confidence. Trump said late on Tuesday that other countries would be coming for talks this week and governments were scrambling to close trade deals before next week's deadline that the White House has repeatedly pushed back under pressure from markets and intense lobbying by industry. AUTO TARIFFS Automobile stocks led the climb of European shares after the Japan deal spurred hopes that the U.S. was budging over tariffs on EU cars. EU officials have previously said Washington has shown little sign of doing so. U.S. Treasury Secretary Scott Bessent said in an interview with Bloomberg Television that Japan received the 15% rate on auto tariffs "because they were willing to provide this innovative financing mechanism" that he did not think other countries could replicate. Trump, however, has appeared open to a range of options as the U.S. negotiates trade deals. "I will only lower tariffs if a country agrees to open its market," Trump wrote in a social media post on Wednesday. In addition to talks in Washington, the European Trade Commissioner Maros Sefcovic planned to speak with U.S. Commerce Secretary Howard Lutnick on Wednesday from Brussels. Sign in to access your portfolio
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Existing-Home Sales Fall More Than Expected as Prices Hit June Record, NAR Data Show
Existing home sales in the US decreased more than projected in June as prices reached a record high 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
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Why Thermo Fischer Stock Is Rising Wednesday
Thermo Fisher Scientific Inc. (NYSE:TMO) on Wednesday reported second-quarter 2025 adjusted earnings of $5.36 per share, beating the street view of $5.23. Quarterly sales of $10.86 billion increased 3% year-over-year, beating the analyst consensus estimate of $10.68 billion. Organic revenue growth was 2%. 'The agility of our organization, powered by the PPI Business System, allowed us to effectively adapt to current market conditions, actively manage our cost base and deliver strong operational results in the second quarter,' said Marc Casper, chairman, president and CEO of Thermo Fisher Scientific. The company said, 'PPI is helping us adjust our supply chains in the tariff environment and to actively manage our cost base.' Also Read: Management Change: Thermo Fisher Scientific announced Stephen Williamson, senior vice president and CFO, has decided to retire from the company, effective March 31, 2026. The company's board of directors appointed Jim Meyer, vice president of financial operations, to succeed Williamson as CFO, effective March 1, 2026. Guidance: During an earnings conference call, Thermo Fisher Scientific forecasts 2025 revenue of $43.6 billion-$44.2 billion, compared to prior guidance of $43.3 billion-$44.2 billion and the consensus of $43.71 billion. View more earnings on TMO The company expects adjusted earnings of $22.22-$22.84 per share, compared to prior guidance of $21.76-$22.84 and consensus of $22.33. The company adds that the U.S.-China tariff situation has improved significantly compared to prior assumptions. Last week, Thermo Fisher Scientific announced an expansion of its strategic partnership with Sanofi SA (NASDAQ:SNY) to enable additional U.S. drug product manufacturing. The terms of the deal were not disclosed. Under the agreement, Thermo Fisher will acquire Sanofi's steriles manufacturing site in Ridgefield, New Jersey, and continue to manufacture a portfolio of therapies for Sanofi. In addition, Thermo Fisher will expand use of the site to meet the growing demand from pharma and biotech customers for U.S. manufacturing capacity. The Ridgefield site is a sterile fill-finish and packaging facility with over 200 employees who will join Thermo Fisher following the completion of the transaction. The transaction is expected to be completed in the second half of 2025. Upon completion of the transaction, Sanofi's Ridgefield facility will become part of Thermo Fisher's pharma services business within its Laboratory Products and Biopharma Services segment. Price Action: TMO stock is up 13.2% at $483.94 at the last check on Wednesday. Read Next:Photo: Shutterstock UNLOCKED: 5 NEW TRADES EVERY WEEK. Click now to get top trade ideas daily, plus unlimited access to cutting-edge tools and strategies to gain an edge in the markets. Get the latest stock analysis from Benzinga? THERMO FISHER SCIENTIFIC (TMO): Free Stock Analysis Report This article Why Thermo Fischer Stock Is Rising Wednesday originally appeared on © 2025 Benzinga does not provide investment advice. All rights reserved. Sign in to access your portfolio
