US Futures Edge Higher as Trade Talks Continue: Markets Wrap
Major currencies were slightly higher against the dollar in early Asia trading, while stock futures showed gains for Japan's benchmark, a decline in Hong Kong and little change in Australia. Oil was down about 1%.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Hill
a minute ago
- The Hill
Asian shares trade mostly higher after stocks on Wall Street extend losses
TOKYO (AP) — Asian shares were mostly higher in muted trading Wednesday, after discouraging signs about the U.S. economy sent Wall Street shares declining, and Investors are sifting through a slew of corporate earnings reports to assess how businesses may have been affected by U.S. President Donald Trump's tariffs. Among Japanese companies, automakers Honda Motor Co. and Toyota Motor Corp. will report fiscal first quarter results this week, as will electronics and entertainment company Sony Corp. Japan's benchmark Nikkei 225 rose 0.6% to 40,777.45. Australia's S&P/ASX 200 added 0.6% to 8,822.90. South Korea's Kospi lost 0.3% to 3,187.57. Hong Kong's Hang Seng rose 0.2% to 24,947.57, while the Shanghai Composite gained 0.3% to 3,627.54. U.S. futures were up 0.3%. On Tuesday, the S&P 500 fell 0.5% to 6,299.19, coming off a whipsaw stretch where it went from its worst day since May to its best since May. The Dow Jones Industrial Average dropped 0.1% to 44,111.74, and the Nasdaq composite fell 0.7% to 20,916.55. A weaker-than-expected report on activity for U.S. businesses in services industries like transportation and retail added to worries that Trump's tariffs may be hurting the economy. But conversely such indicators raise hopes the Federal Reserve may cut interest rates. That along with a stream of stronger-than-expected profit reports from U.S. companies helped to keep losses in check. The S&P 500 remains within 1.4% of its record. The pressure is on companies to report bigger profits after the U.S. stock market surged to record after record from a low point in April. The big rally fueled criticism that the broad market had become too expensive. For stock prices to look like better bargains, companies could produce bigger profits, or interest rates could fall. The latter may happen in September, when the Fed has its next policy meeting. Expectations have built sharply for a rate cut at that meeting since a report on the U.S. job market on Friday came in much weaker than economists expected. Lower interest rates would make stocks look less expensive, while also giving the overall economy a boost. The potential downside is that they could push inflation higher. Treasury yields sank sharply after Friday's release of the jobs report, and they haven't recovered. The yield on the 10-year Treasury eased to 4.19% from 4.22% late Monday and from 4.39% just before the release of the jobs report. That's a significant move for the bond market. In energy trading, benchmark U.S. crude rose 41 cents to $65.57 a barrel. Brent crude, the international standard, added 42 cents to $68.06 a barrel. In currency trading, the U.S. dollar dipped to 147.34 Japanese yen from 147.61 yen. The euro cost $1.1583, up from $1.1579.
Business Upturn
2 minutes ago
- Business Upturn
Why are Gokaldas Exports shares falling 15% despite good Q1 results? Explained
By Aditya Bhagchandani Published on August 6, 2025, 09:48 IST Shares of Gokaldas Exports Ltd declined 5.82% to ₹705.10 in early trading on Wednesday, extending Tuesday's sharp fall. The stock had already plunged 8.74% in the previous session following concerns over potential US tariffs on Indian goods, triggered by remarks from US President Donald Trump. Despite delivering strong financial results for the quarter ended June 2025, investor sentiment remained muted. The company reported a 52.6% year-on-year jump in consolidated net profit to ₹41.5 crore, with revenue rising 2.6% YoY to ₹966.8 crore. Operating metrics were robust, with EBITDA increasing 30% to ₹97.3 crore and margins expanding to 10.2% from 8.1% in Q1 FY25. The continued stock decline appears to be driven by macro concerns, particularly fears of trade friction with the US, rather than company-specific fundamentals. With today's fall, the stock has slipped to the lower end of its 52-week range (₹700.10 – ₹1,262.15), dragging the market capitalization down to ₹51,570 crore. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Ahmedabad Plane Crash Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
CNBC
2 minutes ago
- CNBC
India's central bank keeps rates steady at 5.5% as Trump ratchets up tariff threats
India's central bank kept its policy rate steady at 5.5% Wednesday in the face of rising tariff threats from U.S. President Donald Trump. The move was in line with expectations from economists polled by Reuters, and comes after the Reserve Bank of India delivered an outsized cut of 50 basis points at its last meeting in June. During its last meeting, RBI Governor Sanjay Malhotra said that given the 50-basis-point cut, there was limited room for monetary policy to support growth, and as such, the RBI would switch its stance to "neutral" from "accommodative." This means that the Monetary Policy Committee, which is the RBI's key decision-making body, will carefully assess the "incoming data and the evolving outlook to chart out the future course of monetary policy," Malhotra said. Analysts at Bank of America said in a July 28 note that the RBI "took away the punchbowl from the markets" by delivering an early, aggressive cut. They expect the central bank to pause for now, and further policy support will only be deployed if there is a major shift in the macroeconomic outlook. However, the BofA analysts left the door open for a possible rate cut later this year — likely in the fourth quarter of 2025 — once the GDP growth outlook becomes clearer. India's latest inflation reading still looks supportive for a rate cut, with the headline inflation rate in June hitting a fresh six-year low of 2.1%. Meanwhile, India's economy expanded at a faster-than-expected annual rate of 7.4% in the quarter ended March, sharply higher than the 6.7% growth forecast by economists in a Reuters poll. That quarter marked the end of India's 2024-25 fiscal year, which registered an overall economic growth of 6.5%, in line with the government's estimate. The RBI's latest move comes as India navigates rising tensions with the U.S. over its trade ties with Russia. On Monday, Trump criticized India for purchasing Russian oil and weapons, threatening higher tariffs and an unspecified "penalty."
