Japanese, Korean Stocks Gain After Trump's New Tariff Deadline
The yen was fractionally stronger after dropping about 1% overnight. The won gained.
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Yahoo
29 minutes ago
- Yahoo
Stock Market News for Jul 15, 2025
U.S. stocks closed higher on Monday, with the Nasdaq closing at a fresh record high, as President Donald Trump's tariff threats kept investors on edge while they waited for key economic data and the start of the earnings season. All three major indexes ended in positive territory. The Dow Jones Industrial Average (DJI) rose 0.2% or 88.14 points, to close at 44,459.65 points. The S&P 500 edged up 0.1%, or 8.81 points, to finish at 6,268.56 points. Communication services and financial stocks were the biggest gainers, while material stocks were the worst performers. The Financials Select Sector SPDR (XLF) gained 0.8%, while the Communication Services Select Sector SPDR (XLC) added 1%. The Materials Select Sector SPDR (XLB) lost 0.6%. Seven of the 11 sectors of the benchmark index ended in positive territory. The tech-heavy Nasdaq added 0.3%, or 54.80 points, to end at 20,640.33 points, hitting a fresh all-time closing high. The fear-gauge CBOE Volatility Index (VIX) was up 4.88% to 17.20. A total of 15.43 billion shares were traded on Monday, lower than the last 20-session average of 17.62 billion. Stocks ended mostly higher on Monday despite Trump's tariff threats over the weekend. Trump announced on Saturday that he would impose 30% tariffs on the European Union and Mexico starting Aug 1. Investors have been closely monitoring any developments on the tariff front after EU leaders hinted at negotiating with the Trump administration this month to reach a deal that would lower the duties. The optimism kept losses in check on Monday as investors believe that the high tariffs will ultimately be negotiated down before Aug 1. Trump's renewed tariff threats come just days ahead of the key inflation reading. The consumer price index reading, which will be released on Tuesday, will give investors a clearer picture of how Trump's tariffs, which are already in effect, are impacting the economy. The second-quarter earnings season, which kicks off later this week, and investors are eagerly waiting to assess the financial outlook of the major companies after the new tariffs go into effect. Major banks, including JPMorgan Chase & Co. (JPM), Citigroup Inc. (C) and Wells Fargo & Company (WFC) are scheduled to report their quarterly results on Tuesday. Also, Bank of America Corporation (BAC) and The Goldman Sachs Group, Inc (GS) will report their quarterly results later this week. Goldman Sachs has a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. No major economic data was released on Monday. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Goldman Sachs Group, Inc. (GS) : Free Stock Analysis Report Bank of America Corporation (BAC) : Free Stock Analysis Report Wells Fargo & Company (WFC) : Free Stock Analysis Report JPMorgan Chase & Co. (JPM) : Free Stock Analysis Report Citigroup Inc. (C) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research 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
Yahoo
37 minutes ago
- Yahoo
US tariffs on Brazil could hit Embraer revenue like COVID-19, says CEO
SAO PAULO (Reuters) -The 50% tariff that U.S. President Donald Trump plans to impose on Brazilian exports starting in August could have an impact on the revenues of planemaker Embraer similar to that of the COVID pandemic, its CEO said on Tuesday. Chief Executive Francisco Gomes Neto told reporters that the tariffs could trigger canceled orders, deferred deliveries, lower investments and possible job cuts. He said a 50% tariff would be essentially a trade embargo on commercial jets, making exports to U.S. airlines "unfeasible." Sign in to access your portfolio
Fast Company
37 minutes ago
- Fast Company
Defense Department to spend $1 billion on ‘offensive' hacking: What that means—and the major risk involved
The Department of Defense plans to spend $1 billion on 'offensive cyber operations' over the next four years, Tech Crunch reported. The funding comes from a provision tucked into President Donald Trump's massive 940-page One Big Beautiful Bill, which was recently passed and signed into law on July 4. The mega bill also increases overall defense spending from lasy year's fiscal 2024 levels of $873 billion, or 12.9% of the federal budget, per USAFacts a nonprofit initiative to make government data more understandable. According to the report, the bill does not specify what the 'offensive cyber operations' are, or what software would qualify for funding; however, it does stipulate the funding will go to enhancing and improving the U.S. Indo-Pacific Command (INDOPACOM), based in Hawaii, which is the responsible for defending and promting U.S. interests in the Pacific and Asia, including China. International Institute for Strategic Studies (IISS), senior cyber advisor Marcus Willet has described offensive cyber operations as those which 'most often entail influencing, misleading or otherwise cognitively affecting a competitor or adversary by, for example, planting false information. But they can also be used for disablement.' Adding,'Offensive cyber operations are of increasing significance in international affairs and bring with them a range of strategic risks.' Democrat Sen. Ron Wyden of Oregon, who sits on the Senate Select Committee on Intelligence said that the funding comes as the same time the Trump administration has cut other defensive cybersecurity programs—including slashing the staff and budget for the the U.S. cybersecurity agency CISA—which Wyden said has 'left our country wide open to attack by foreign hackers,' according to the report. 'Vastly expanding U.S. government hacking is going to invite retaliation — not just against federal agencies, but also rural hospitals, local governments and private companies who don't stand a chance against nation-state hackers,' Wyden told TechCrunch.
