Seymour: Uncertainty has made international investing more interesting
Tim Seymour, founder of Seymour Asset Management, says global uncertainty has boosted international investing, with strong opportunities in India, Japan, and select Chinese tech stocks like Alibaba.
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CNBC
an hour ago
- CNBC
Gold falls as traders watch US-China trade talks in London
Gold declined on Tuesday as market participants awaited further developments from ongoing U.S.-China trade talks in London, with negotiations extending into a second day. Spot gold fell 0.5% to $3,311.16 an ounce, as of 0125 GMT. U.S. gold futures also fell 0.7% to $3,330.90. High-level trade talks between the U.S. and Chinese officials are extending into a second day, with discussions encompassing issues ranging from tariffs to rare earth restrictions. "With these key the U.S.-China trade talks still in the works, gold is trading reservedly until we see what if any progress is made between the two global superpowers," said Tim Waterer, chief market analyst at KCM Trade. U.S. President Donald Trump said his administration was "doing well" in the negotiations and noted positive reports from the talks. Last month, both sides agreed to a temporary pause tariffs, offering some relief to financial markets. "If traders come away from the U.S.-China talks this week thinking that the two nations remain on track to achieve a broader trade deal, safe-haven demand for assets such as gold could ease." Data from China showed export growth slowed to a three-month low in May as U.S. tariffs impacted shipments, while factory-gate deflation worsened to its deepest level in two years. Meanwhile, investors are now awaiting U.S. inflation data on Wednesday for more cues on the Federal Reserve's monetary policy path. "If CPI has ticked marginally higher that would be an expected result, but if it jumps then that could raise some alarm bells for investors, and any resulting flight to safety could help the gold price," Waterer said. Gold gains appeal during uncertain geopolitical and economic times and tends to do well when interest rates are low. Elsewhere, spot silver was down 0.6% to $36.51 per ounce, platinum dropped 0.8% to $1,210.46, while palladium fell 0.2% to $1,071.75.
The Hill
an hour ago
- The Hill
Asian shares are mixed as investors keep an eye on China-US trade talks
Asian shares were mixed on Tuesday as investors kept a wary eye on China-U.S. trade talks that could have a huge impact on the global economy. U.S. futures were flat and oil prices rose. A second day of talks was planned after U.S. and Chinese officials met in London on Monday for negotiations over various issues. The hope is that they can eventually reach a deal to reduce painfully high tariffs against each other. Most of the tariff hikes imposed since U.S. President Donald Trump escalated his trade war are paused to allow trade in everything from tiny tech gadgets to enormous machinery to continue. In Asian trading, Tokyo's Nikkei 225 gained 0.2% to 38,169.76, giving up early gains, while the Kospi in South Korea rose 0.3% to 2,866.66. Hong Kong's Hang Seng reversed its early advance, falling 0.4% to 24,083.58. The Shanghai Composite index dropped 0.6% to 3,379.75. In Taiwan, the Taiex surged 2.1%. Australia's S&P/ASX 200 advanced 0.7% to 8,578.50. India's Sensex was nearly unchanged. On Monday, the S&P 500 edged up just 0.1% and at 6,005.88 was within 2.3% of its record set in February. The Dow Jones Industrial Average slipped by 1 point, which is well below 0.1%, to 42,761.76. The Nasdaq composite added 0.3% to 19,591.24. Hopes that President Donald Trump will lower his tariffs after reaching trade deals with countries around the world have helped the S&P 500 has rally back after it dropped roughly 20% from its record two months ago. It's back above where it was when Trump shocked financial markets in April with his wide-ranging tariff announcement on what he called 'Liberation Day.' Some of the market's biggest moves came from the announcement of big buyout deals. Qualcomm rallied 4.1% after saying it agreed to buy Alphawave Semi in a deal valued at $2.4 billion. IonQ, meanwhile, rose 2.7% after the quantum computing and networking company said it agreed to purchase Oxford Ionics for nearly $1.08 billion. On the losing side of Wall Street was Warner Bros. Discovery, which flipped from a big early gain to a loss of 3% after saying it would split into two companies. One will get Warner Bros. Television, HBO Max and other studio brands, while the other will hold onto CNN, TNT Sports and other entertainment, sports and news television brands around the world, along with some digital products. Tesla recovered some of its sharp, recent drop. The electric vehicle company tumbled last week as Elon Musk's relationship with Trump broke apart, and it rose 4.6% Monday after flipping between gains and losses earlier in the day. The frayed relationship could end up damaging Musk's other companies that get contracts from the U.S. government, such as SpaceX. Rocket Lab, a space company that could pick up business at SpaceX's expense, rose 2.5%. In the bond market, the yield on the 10-year Treasury eased to 4.48% from 4.51% late Friday. It fell after a survey by the Federal Reserve Bank of New York found that consumers' expectations for coming inflation eased a bit in May. Economists expect a report coming on Wednesday to show inflation across the country accelerated last month to 2.5% from 2.3%. The Fed has been keeping its main interest rate steady as it waits to see how much Trump's tariffs will raise inflation and how much they will hurt the economy. A persistent increase in expectations for inflation among U.S. households could drive behavior that creates a vicious cycle that only worsens inflation. In other dealings early Tuesday, U.S. benchmark crude oil picked up 19 cents to $65.47 per barrel. Brent crude, the international standard, was up 22 cents at $67.26. The dollar slipped to 144.52 Japanese yen from 144.61 yen. The euro slipped to $1.1409 from $1.1421.
CNBC
2 hours ago
- CNBC
CNBC Daily Open: 'Good reports' from U.S.-China talks could push S&P 500 to new high, analysts say
Trade negotiators from the U.S. and China have met in London, and talks are expected to continue Tuesday, a source familiar with the situation told CNBC's Megan Casella. It seems that coaxing China to relax its rare earths export curbs is at the top of America's agenda, according to a CNBC interview with U.S. National Economic Council Director Kevin Hassett. If China's actions late last week — when it seemingly gave Western automakers concessions regarding those minerals — are any indication, Beijing could be willing to accede to the request. The world's second-biggest economy would demand reciprocity. On June 2, Beijing bristled at Washington's tighter grip on exports of chip design software to China. It's a good thing, then, that Washington also appears to be in a conciliatory mood. "Our expectation is that … immediately after the handshake, any export controls from the U.S. will be eased," Hassett said on CNBC's "Squawk Box." Indeed, Trump has reportedly authorized Treasury Secretary Scott Bessent's team to lift those curbs, according to The Wall Street Journal, and has described receiving "good reports" from the U.S. contingent. If the U.S.-China talks go well, there's a chance the S&P 500, only around 2% off its February high as of Tuesday morning Singapore time, could reach a new peak, noted the JPMorgan trading desk. That'd be something to cheer, of course. But it's slightly disappointing that the S&P could have continued scaling heights from February, or at least broken its closing high much earlier in the year, if not for truculent trade policy from the White House — which, as is evident from the meeting between U.S. and China, governments are still trying to undo. U.S.-China talks set to go into Day 2U.S. President Donald Trump's top trade officials met Chinese counterparts in London on Monday for talks aimed at resolving their trade dispute — particularly with regard to mineral exports. Discussions are set to continue Tuesday. Late last week, in an apparent olive branch, China seemed to offer U.S. and European auto giants something of a reprieve regarding its exports of rare earth elements. Markets inch up globallyU.S. stocks edged up Monday. The S&P 500 added 0.09%, the Dow Jones Industrial Average was mostly flat, and the Nasdaq Composite rose 0.31%. Asia-Pacific markets rose Tuesday. South Korea's Kospi index was up 0.38% at 1:30 p.m. Singapore time. Analysts from Macquarie Group say they think the country's stock market will rally and enter a bull market on the back of "expansionary fiscal policy" from the new government. A new 'Liquid Glass' look for Apple's iOSApple held its annual Worldwide Developers Conference keynote on Monday. At the event, the company announced a redesign to its iOS system called "Liquid Glass," a virtual glass look that was inspired by the Vision Pro and the most significant redesign of its operating system since 2013. Investors were underwhelmed by the announcements — which lacked developments on the AI front — and sent shares down 1.2%. UK in a 'Goldilocks' moment: Nvidia CEO "The U.K. is in a Goldilocks circumstance," Nvidia CEO Jensen Huang said Monday on a panel with British Prime Minister Keir Starmer and Investment Minister Poppy Gustafsson. "You can't do machine learning without a machine — and so the ability to build these AI supercomputers here in the U.K. will naturally attract more startups," Huang said, though he added that the country lacks homegrown AI infrastructure. [PRO] New record for S&P soon?The S&P 500 ticked higher on Monday and continues to chip away at the gap to a new record high. The broad-based index is just 2% below its record close set in February. Several events in the days ahead could prove to be the catalyst that vaults it over the top, according to the JPMorgan trading desk. China's homegrown coffee giants are brewing up a U.S. expansion Chinese beverage chains are redefining coffee culture in the country — and now they're trying to win over customers in the U.S. and beyond. Luckin Coffee, China's largest coffee chain, has expanded aggressively in China and overtaken Starbucks on the mainland, with more than twice as many outlets. After venturing into Singapore, Hong Kong and Malaysia, Luckin is set to take its biggest leap yet with plans to open a branch in lower Manhattan. "New York is probably culturally the best testing ground for an international brand to expand into, especially a Chinese one," said Bernstein senior analyst Danilo Gargiulo, citing the city's diversity and large base of young consumers. "But it's also the most saturated, one of the most competitive markets."
