
Global shares are mixed as investors await details from the US-China trade talks
Global markets
were mixed on Monday as investors waited to see the outcome of trade talks between Washington and Beijing in London.
The futures for the S&P 500 and the Dow Jones Industrial Average were 0.1% higher.
The CAC 40 in Paris lost 0.1% to 7,797.64 and Germany's DAX edged 0.4% lower to 24,210.06.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
One of the Most Successful Investors of All Time, Warren Buffett, Recommends: 5 Books for Turning...
Blinkist: Warren Buffett's Reading List
Click Here
Undo
The British FTSE 100 was little changed at 8,836.20.
In Asian trading, Tokyo's Nikkei 225 gained 0.9% to 38,088.57 as the government reported that the Japanese economy contracted by 0.2% in the January-March quarter.
Live Events
In South Korea, the Kospi added 1.6% to 2,855.77.
Discover the stories of your interest
Blockchain
5 Stories
Cyber-safety
7 Stories
Fintech
9 Stories
E-comm
9 Stories
ML
8 Stories
Edtech
6 Stories
Chinese markets rose even though the government reported that exports slowed in May, growing 4.8% from a year earlier after jumping more than 8% in April. Exports to the United States fell 35% in May and nearly 10% in January-May in annual terms.
China also reported that consumer prices fell 0.1% in May from a year earlier, marking the fourth consecutive month of deflation.
Hong Kong's Hang Seng picked up 1.6% to 24,181.43 while the Shanghai Composite Index climbed 0.4% to 3,399.77.
Australia's markets were closed for a holiday.
On Friday, stocks gained ground on Wall Street following a better-than-expected report on the U.S. job market.
The gains were broad, with every sector in the S&P 500 rising. That solidified a second consecutive winning week for the benchmark index, which has rallied back from a slump two months ago to come within striking distance of its record high.
The S&P 500 rose 1% and the Dow industrials lost 1%. The Nasdaq gained 1.2%.
Technology stocks, with their outsized values, led the broad gains. Chipmaker Nvidia jumped 1.2% and iPhone maker Apple rose 1.6%.
Tesla rose 3.7%, regaining some of the big losses it suffered on Thursday when
Trump
and Musk sparred feverishly on social media.
Circle Internet Group, the US-based issuer of one of the most popular cryptocurrencies, rose 29.4%. That adds to its 168% gain from Thursday when it debuted on the New York Stock Exchange.
U.S. employers slowed their hiring last month, but still added a solid 139,000 jobs amid uncertainty over President Donald Trump's trade war. The closely watched monthly update reaffirmed that the job market remains resilient, despite worries from businesses and consumers about the impact of tariffs on goods going to and coming from the US and its most important trading partners.
Hopes that Trump will lower his tariffs after reaching trade deals with other countries are a main reason the S&P 500 has rallied back so furiously since dropping roughly 20% two months ago from an all-time high.
The economy is absorbing the impact from tariffs on a wide range of goods from key trading partners, along with raw materials such as steel. Heavier tariffs could hit businesses and consumers in the coming months.
The US economy contracted during the first quarter. Recent surveys by the Institute for Supply Management, a trade group of purchasing managers, found that both American manufacturing and services businesses contracted last month. On Tuesday, the Organization for Economic Cooperation and Development forecast 1.6% growth for the US economy this year, down from 2.8% last year.
The uncertainty over tariffs and their economic impact has put the Federal Reserve in a delicate position.
In other trading early Monday, US benchmark crude oil lost 21 cents to $64.37 per barrel. Brent crude, the international standard, gave up 23 cents to $66.24 per barrel.
The US dollar retreated to 144.09 Japanese yen from 144.85 yen. The euro edged higher, to $1.1426 from $1.1399.
Hashtags

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


Time of India
20 minutes ago
- Time of India
'India projected to maintain fastest growth rate': World Bank holds FY26 growth at 6.3%; global growth rate forecast cut to 2.3%
India will remain the fastest-growing major economy in 2025–26 with a projected GDP expansion of 6.3%, the World Bank said in its latest Global Economic Prospects report, while warning that rising global trade barriers and weaker demand from key export partners are likely to dampen external sector momentum. The projection for India remains unchanged from the World Bank's April estimate but marks a downward revision from the earlier January forecast of 6.7%. The multilateral lender cited subdued industrial growth and soft export demand as key reasons for the downgrade, though construction, services and rural consumption were seen holding steady, PTI reported. 'India is projected to maintain the fastest growth rate among the world's largest economies,' the World Bank stated, noting that even with the pressures on trade, the Indian economy's fundamentals remain relatively strong. The global outlook, however, was more pessimistic. The World Bank cut its forecast for global GDP growth in 2025 to 2.3%, down from 2.7% in January. It described this as the weakest performance in 17 years outside of full-blown recessions, attributing the slowdown to policy uncertainty and fragmentation in trade relations—particularly amid heightened tariff actions by the US under President Donald Trump. The Bank also said that average global growth in the first seven years of the 2020s could be the slowest since the 1960s if current conditions persist. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo Around 70% of global economies saw their forecasts revised down across all regions and income levels. For India, the World Bank expects GDP growth to accelerate slightly to an average of 6.6% over FY27–28, aided by a rebound in exports, especially in services, and continued momentum in construction and consumption. Last week, the Reserve Bank of India retained its GDP forecast for FY26 at 6.5%, citing macroeconomic resilience amid global headwinds. World Bank analysts added that resolving current trade disputes—potentially by halving tariff levels—could raise global growth by 0.2 percentage points over 2025 and 2026. They advised developing economies to diversify trade and pursue broader liberalization to counter the fallout from protectionist measures. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now


Mint
28 minutes ago
- Mint
Donald Trump is pushing cash for all American babies. What are ‘Trump Accounts'? Explained
US President Donald Trump wants to make a significant but limited investment in newborn babies through his 'Big Beautiful Bill'. On Monday, the president touted a provision in his tax cut bill that proposes opening investment accounts for all American babies born during Trump's current term as President. These accounts have been dubbed "Trump Accounts", and families of all income levels could receive them. The 'Trump Accounts' pilot program is included in the 'One Big Beautiful Bill'. Simply put, these are new tax-exempt investment accounts to benefit all American children. An earlier version of the bill called them MAGA Accounts, referring to the president's Make America Great Again campaign slogan. During a roundtable on Monday, Trump said, "For every US citizen born after December 31, 2024, before January 1, 2029, the federal government will make a one-time contribution of $1,000 into a tax-deferred account that will track the overall stock accounts will be private property controlled by the child's guardians. This provision means that every US citizen born between the start of 2025 and the end of 2028 would receive $1,000 initially from the federal government in a tax-deferred account. The accounts would, over the course of a child's first 18 years, be linked to a mutual fund or index fund tied to the performance of the stock market. The initiative further allows parents to contribute additionally — up to $5,000 tax-free each year to "Trump Accounts". The money would only be accessible to the child upon reaching adult status at 18. At age 18, children could withdraw the money to put toward a down payment for a home, education or to start a small business. If the money is used for other purposes, it'll be taxed at a higher rate. The full balance would be available at age 30, USA Today reported. With about 3.6 million babies born in the US each year, the cost could exceed $3 billion annually, the Washington Post reported. Republicans have yet not released any cost estimates for the program. Amid criticism from several people, including former aide Elon Musk, Trump is trying hard to get his 'Big, Beautiful' tax and spending bill approved by the Senate. On Monday, Trump worked the phones and took to social media to try to sway Republican holdouts on his multi-trillion-dollar tax bill. Trump further promoted the program as a pro-family, pro-child initiative at a time when his administration and congressional Republicans are facing criticism over cuts that the tax, spending and immigration bill would make to programs like Medicaid and the Supplemental Nutrition Assistance Program. It's feared that the tax and spending cut package will add more than $3 trillion to the US national debt over the next decade. The House of Representatives approved the bill by one vote last month. It now faces opposition from both moderates and ultra-conservatives in the Senate. Many in favour of this provision say that it doesn't distinguish between the rich and the poor. The Trump program is similar to 'baby bond' programs run in California, Connecticut and Washington, D.C, according to the Washington Post. The report says that while those local programs were created to reduce the wealth gap by supporting children in need or lower-income families, Trump accounts will be made available to Americans regardless of their socioeconomic status. Moreover, USA Today reported that the program serves as a counter to Democratic arguments that the bill helps the nation's wealthiest Americans. Meanwhile, a statement from the White House said, "The One Big Beautiful Bill will change the lives of middle-class families across America" — 'together with historic tax cuts, an increased child tax credit, higher wages, and monumental economic growth.' President Trump said on Monday that the mega bill would 'make it possible for countless American children to have a strong start at life at no cost to the American taxpayer.' Meanwhile, Dell CEO Michael Dell said, "With these accounts, children will be much more likely to graduate from college, to start a business, to buy a home, and achieve lifelong financial stability.' Amid the buzz over "Trump Accounts", Donald Trump gathered corporate leaders at the White House Monday to highlight a provision in his tax bill that would deposit $1,000 into an investment account for babies born in the next few years. Dell Technologies, Salesforce, Uber and Goldman Sachs were among the companies the White House said would be participating. 'They'll really be getting a big jump on life, especially if we get a little bit lucky with some of the numbers and the economy," the US President said.


Time of India
28 minutes ago
- Time of India
Musk-Trump spat entangles MAGA prince JD Vance
Musk-Trump spat: The fallout between Donald Trump and Elon Musk has ignited a MAGA civil war, with JD Vance caught in the crossfire. Musk's call for Trump's impeachment and suggestion of Vance as a replacement has reportedly fueled Trump's paranoia. Vance now walks a tightrope, balancing loyalty to Trump with his Silicon Valley connections, as Trump demands unwavering allegiance. Tired of too many ads? Remove Ads Vance, the MAGA prince in Trump's cross hairs Tired of too many ads? Remove Ads Vance does a tightrope walk Tired of too many ads? Remove Ads In a presidency already defined by internal volatility and external shockwaves, the recent falling out between President Donald Trump and tech mogul Elon Musk marks a significant rupture in the power structure. But the MAGA civil war , which flared up with an open spat between Trump and Musk on social media is still smouldering even though Musk has deleted the controversial posts he aimed at Trump. Vice-President JD Vance has emerged as a target in the Trump-Musk Michael Wolff, who has written several books on Trump, has said on the Daily Beast Podcast that Trump is getting paranoid after Musk turned Vance into an existential threat to his power. During their explosive spat last week, Musk called for Trump's impeachment and urged that Vance take his place. Wolff, the best-selling Trump biographer, suggests that Musk's demand struck fear into Trump and made him even more suspicious of is a fascinating political figure. Once a critic of Trump, he pivoted hard during his Senate run, aligning himself fully with the MAGA movement and earning Trump's coveted endorsement. His 'Hillbilly Elegy' background gives him working-class appeal, while his Silicon Valley experience (as a venture capitalist funded by Peter Thiel, a tech billionaire) makes him a rare bridge between conservative populism and tech-world Musk, Vance may represent the ideal vessel: loyal to Trumpism's nationalist message but not bound to Trump's personal baggage. This may explain why he would reportedly float Vance's name as a successor, or alternative, to says that Trump has always been ambivalent about Vance, an 'unlikely Republican' whose 'hardcore support is in the tech bro community". Trump chose Vance as his running mate, Wolff said, in part because Musk made his backing of Trump, worth hundreds of millions of dollars, conditional on that in Trump's world, loyalty is everything. The president would view any attempt to discuss succession as an act of betrayal. If Vance is perceived, rightly or wrongly, as fit to replace Trump, he risks being sidelined from Trump's inner circle. According to Wolff, Trump now wants to put Vance through a 'loyalty test' — a familiar ritual for those within the MAGA president's high-profile fallout with Musk -- a 'central pillar' of the tech world's incursion into right-wing politics -- leaves him vulnerable and will push him to scrutinize his Vice President ever more closely, Wolff said. 'He will set up what we will see as a set of tests that Vance is going to have to endure and pass,' Wolff told host Joanna Coles. '(Vance has) got to profess his absolute loyalty to Trump, or he will just be marginalized within the administration.'In a statement to the Daily Beast, White House Communications Director Steven Chung slammed Wolff as 'a blithering idiot who has been widely discredited due to his blatant lies and fabrications".'He is an imbecile of the highest order and his Trump Derangement Syndrome-addled brain has caused him to lead a miserable existence devoid of reality,' he continued. 'Nothing he says is the truth and he resorts to outlandish falsehoods in order to stay relevant since Father Time has passed him by 20 years ago.'For Vance, it's a tightrope walk. If he alienates Trump, he will be sidelined from everything important in Trump's inner circle. If he distances himself from Musk, he could lose his future prospects and a significant stream of Silicon Valley-aligned a podcast appearance with comedian Theo Von posted on Saturday, Vance said, 'First of all I'm the Vice President to President Trump; my loyalties are always going to be with the President. Elon is an incredible entrepreneur. I think DOGE was really good. The effort to root out waste, fraud, and abuse in our country was really good.''I hope that eventually Elon kind of comes back into the fold. Maybe that's not possible now because he's gone so nuclear. I hope it is,' Vance tried to downplay Musk's blistering attacks as an "emotional guy" who got frustrated. "Look, it happens to everybody," Vance said during the podcast. "I've flown off the handle way worse than Elon Musk did in the last 24 hours."Vance told Von that as Musk for days was calling on social media for Congress to kill Trump's "Big Beautiful Bill," the president was "getting a little frustrated, feeling like some of the criticisms were unfair coming from Elon, but I think has been very restrained because the president doesn't think that he needs to be in a blood feud with Elon Musk." "I actually think if Elon chilled out a little bit, everything would be fine," he the interview, Von showed Vance Musk's claim that Trump's administration hasn't released all the records related to sex abuser Jeffrey Epstein because Trump is mentioned in them. Vance responded to that, saying, "Absolutely not. Donald Trump didn't do anything wrong with Jeffrey Epstein." "This stuff is just not helpful," Vance said in response to another post shared by Musk calling for Trump to be impeached and replaced with Vance. "It's totally insane. The president is doing a good job."If Wolff's claims are accurate, the implications go beyond tabloid drama. Trump can increasingly feel lonely and cornered as he alienates his close aides. What's worse for him, he can also end up losing support of certain sections of his MAGA base as the emergence of Musk and Vance means there are now other popular conservative leaders too.