Trump Media shares rise after announcing $2 billion bitcoin buy: CNBC Crypto World
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New York Post
2 minutes ago
- New York Post
Stocks surge, euro steady after US-EU trade agreement
Global stocks rose and the euro appreciated on Monday after a trade agreement between the United States and the EU lifted sentiment and provided some clarity in a week of key policy meetings by the Federal Reserve and the Bank of Japan. The US struck a framework trade agreement with the European Union, imposing a 15% import tariff on most EU goods – half the threatened rate, a week after agreeing to a similar trade deal with Japan. Countries are scrambling to finalise trade deals ahead of an August 1 deadline set by US President Donald Trump, with talks between the US and China set for Monday in Stockholm amid expectations of another 90-day extension to the truce between the world's top two economies. 3 President Donald Trump (R) shakes hands with European Commission President Ursula von der Leyen (L) following their meeting, in Turnberry, south west Scotland on July 27, 2025. AFP via Getty Images 'A 15% tariff on European goods, forced purchases of US energy and military equipment and zero tariff retaliation by Europe, that's not negotiation, that's the art of the deal,' said Prashant Newnaha, senior Asia-Pacific rates strategist at TD Securities. 'A big win for the US.' European futures surged more than 1%, while S&P 500 futures rose 0.5% and Nasdaq futures advanced 0.6%. The euro strengthened across the board, rising against the dollar, sterling and yen. 'We have to be a bit cautious from here,' said Sim Moh Siong, currency strategist at Bank of Singapore, of the broader risk-on rally. 'A lot of good news is already in the price.' MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.32%, just shy of the almost four-year high it touched last week. Japan's Nikkei fell 1% after hitting a one-year high last week. While the baseline 15% tariff will still be seen by many in Europe as too high, compared with Europe's initial hopes to secure a zero-for-zero tariff deal, it is better than the threatened 30% rate. 3 Currency traders work near a screen showing the Korea Composite Stock Price Index (KOSPI) and the foreign exchange rate between US dollar and South Korean won, right, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Monday, July 28, 2025. AP The US-EU deal provides clarity to companies and averts a bigger trade war between the two allies that account for almost a third of global trade. 'A major tail-risk has now been defused,' said Marc Velan, head of investments at Lucerne Asset Management in Singapore. 'Markets are interpreting this as a sign of stability and predictability returning to trade policy,' he added. 'The China delay fits the same pattern: the administration is opting for controlled diplomacy over confrontation.' 3 The US struck a framework trade agreement with the European Union, imposing a 15% import tariff on most EU goods – half the threatened rate, a week after agreeing to a similar trade deal with Japan. AP Gains for China's blue-chip stocks petered out towards the midday break, while Hong Kong's Hang Seng index gained 0.5%. The Australian dollar , often seen as a proxy for risk appetite, was at $0.657, hovering around the near eight-month peak scaled last week. FED, BOJ AWAIT In an action-packed week, investors will watch out for the monetary policy meetings from the Fed and the BOJ as well as the monthly US employment report and earnings from megacap companies Apple, Microsoft and Amazon. While the Fed and the BOJ are expected to maintain rates, comments from the officials will be crucial for investors to gauge the interest rate path. The trade deal with Japan has opened the door for the BOJ to raise rates again this year. Meanwhile, the Fed is likely to be cautious on any rate cuts as officials seek more data to determine tariffs' impact on inflation before they ease rates further. But tensions between the White House and the central bank over monetary policy have increased, with Trump repeatedly lashing out at Fed Chair Jerome Powell for not cutting rates. Two of the Fed Board's Trump appointees have articulated reasons for supporting a rate cut this month. In commodities, oil prices rose after the US-EU trade agreement. Brent crude futures and US West Texas Intermediate crude both rose 0.5%. Gold prices fell on Monday to their lowest in nearly two weeks on reduced appetite for safe havens.
CNBC
3 minutes ago
- CNBC
CNBC Daily Open: This week's the Olympics for market watchers
Choose a front-row seat and grab your popcorn. These five days will basically be the Olympics for market watchers: And looming over all those financial and macroeconomic events is U.S. President Donald Trump's August 1 deadline for his new tariffs. As Kim Forrest, founder at Bokeh Capital, said, "What isn't happening in this week?" Here's the ideal scenario for investors. The Magnificent Seven companies reporting earnings this week and the U.S. economy secure gold at their respective events. (The Fed is expected to keep rates unchanged — whether this qualifies the central bank for a medal is up for debate). Big trading partners of the U.S., such as South Korea and India, secure a deal with the White House and join the European Union and Japan at the podium, while Beijing extends its tariff suspension with Washington. If those events happen, U.S. stocks will probably have legs clear hurdle after hurdle — and the S&P 500 can continue topping record announces a trade agreement with the European Union. Most European goods, including cars, exported to the U.S. will face a 15% tariff, Trump said Sunday. The bloc also agreed to purchase $750 billion worth of U.S. energy, he added. Samsung inks a $16.5 billion contract with Tesla. While the South Korean firm didn't disclose the counterparty in its regulatory filing, Tesla CEO Elon Musk confirmed that it will manufacture the automaker's "next-generation AI6 chip." Perfect week for the S&P 500. The broad-based index rose Friday to close at a high — its fifth record in a row last week. The Nasdaq Composite and Dow Jones Industrial Average also advanced. Asia-Pacific shares were mixed Monday. The Fed is ready to start lowering rates, Trump said. On Friday, the U.S. president said Fed Chair Jerome Powell told him "the country is doing well," which Trump took to mean "he's going to start recommending lower rates." Futures markets disagree. [PRO] Winners of Hong Kong's crypto framework. The island's bill, which takes effect Friday, formalizes the process for financial companies to issue and manage stablecoins. Two online brokerages which offer crypto trading stand to benefit, analysts said. Trump's tariff deal offers scant relief for Japan automakers as bigger threat looms Japanese automakers may have sidestepped crushing U.S. tariffs, but the reprieve may offer little comfort. Their position in the global market is being eroded by Chinese automakers even as they face persistent structural challenges domestically. Still, analysts acknowledge that Trump's finalized tariff rate brings at least one benefit: some predictability.
Yahoo
20 minutes ago
- Yahoo
Key takeaways from the EU-US trade deal
EU head Ursula von der Leyen and US President Donald Trump on Sunday struck a deal on tariffs, just days before the August 1 deadline when Trump had threatened to impose steep levies on European goods had an agreement not been reached. These are the key takeaways from the deal: EU chief Ursula von der Leyen clinched an agreement Sunday with US President Donald Trump to avoid crippling tariffs from hitting the bloc, with both leaders hailing a 'good deal'. The stakes were high with a looming August 1 deadline and $1.9 trillion transatlantic trading relationship on the line. Many European businesses will breathe a sigh of relief after the leaders agreed the 27-country bloc will face a baseline levy of 15 percent instead of a threatened 30 percent – but the deal will not satisfy everyone. Here is what we know so far: What did EU, US agree on? Both sides confirmed there will be a 15-percent across-the-board rate on a majority of EU goods – the same level secured by Japan this month – with bilateral tariff exemptions on some products. Read moreTrump announces 'massive' trade deal with Japan, 15 percent tariff on exports The deal will bring relief for the bloc's auto sector, employing around 13 million people – and hit by Trump with 25-percent tariffs, on top of a pre-existing 2.5 percent. 'Obviously, it is good news for the car industry. So Germany will be happy. And all the EU members with auto supply chains, they go from 27.5 to 15 percent,' said Jacob Funk Kirkegaard of the Peterson Institute For International Economics. A 15-percent levy will remain 'costly' for German automakers, 'but it is manageable', said trade geopolitics expert Elvire Fabry at the Jacques Delors Institute. While 15 percent is much higher than pre-existing US tariffs on European goods – averaging 4.8 percent – it mirrors the status quo, with companies currently facing an additional flat rate of 10 percent imposed by Trump since April. The EU also committed to buy $750 billion of liquefied natural gas, oil and nuclear fuels from the United States – split equally over three years – to replace Russian energy sources. And it will pour $600 billion more in additional investments in the United States. Trump said EU countries – which recently pledged to ramp up their defence spending within NATO – would be purchasing 'hundreds of billions of dollars' worth of military equipment'. Are there exemptions? Von der Leyen said the 15-percent rate applied across most sectors, including semiconductors and pharmaceuticals – a critical export for Ireland, which the bloc has sought to protect. Trump in April launched probes that could lead to significantly steeper tariffs on the two key sectors, warning this month he could slap 200-percent levies on drugs. Brussels and Washington agreed a bilateral tariff exemption for key goods including aircraft, certain chemicals, semiconductor equipment, certain agricultural products and critical raw materials, von der Leyen said. The EU currently faces 50-percent tariffs on its steel exports to the United States, but von der Leyen said a compromise on the metal had been reached with Trump. 'Between us, tariffs will be cut and a quota system will be put in place,' she said. It is understood that European steel would be hit with 50-percent levies only after a certain amount of the metal arrived in the United States, but no details were initially provided on the mechanism. What happens next? The deal needs to be approved by EU member states, whose ambassadors will meet first thing Monday morning for a debrief from the European Commission. And there are still technical talks to come, since the agreement needs to be fully fleshed out. Von der Leyen described the deal as a 'framework' agreement. 'Details have to be sorted out, and that will happen over the next weeks,' she said. In particular, she said there has yet to be a final decision on alcohol, critical since France and The Netherlands have been pushing for carve-outs for wine and beer respectively. 'This is something which has to be sorted out in the next days,' von der Leyen said. (FRANCE 24 with AFP)
