Latest news with #&P
7 days ago
- Automotive
Asian markets gain, with Japan's Nikkei up more than 3%, lifted by deal on Trump's tariffs
TOKYO -- Asian shares rallied on Wednesday, with Tokyo's benchmark Nikkei 225 index up more than 3% after Japan and the U.S. announced a deal on President Donald Trump's tariffs. The agreement as announced calls for a 15% import duty on goods imported from Japan, apart from certain products such as steel and aluminum that are subject to much higher tariffs. That's down from the 25% Trump had said would kick in on Aug. 1 if a deal was not reached. 'This Deal will create Hundreds of Thousands of Jobs — There has never been anything like it,' Trump posted on Truth Social, noting that Japan was also investing 'at my direction' $550 billion into the U.S. He said Japan would 'open' its economy to American autos and rice. Hong Kong's Hang Seng jumped 1.1% to 25,397.81, while the Shanghai Composite index gained 0.8% to 3,608.58. Australia's S&P/ASX 200 edged up 0.6% to 8,731.90 and the Kospi in South Korea edged 0.1% higher to 3,172.10. 'President Trump has signed two trade deals this week with the Philippines and Japan which is likely to keep market sentiment propped up despite deals with the likes of the EU and South Korea remaining elusive, for now at least,' Tim Waterer, chief market analyst at Kohle Capital Markets, said in a report. There was a chorus of no comments from the Japanese automakers, despite the latest announcement, including Toyota Motor Corp., Honda Motor Co and Nissan Motor Corp. Japanese companies tend to be cautious about their public reactions, and some business officials have privately remarked in off-record comments that they hesitate to say anything because Trump keeps changing his mind. The Japan Automobile Manufacturers' Association also said it had no comment, noting there was no official statement yet. Japan's Prime Minister Shigeru Ishiba welcomed the agreement as beneficial to both sides. Wall Street inched to another record on Tuesday following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much Trump's tariffs are hurting or helping them. The S&P 500 added 0.1% to the all-time high it had set the day before, closing at 6,309.62. The Dow Jones Industrial Average rose 0.4% to 44,502.44. The Nasdaq composite slipped 0.4% from its own record, to 20,892.68. General Motors dropped 8.1% despite reporting a stronger profit for the spring than analysts expected. The automaker said it's still expecting a $4 billion to $5 billion hit to its results in 2025 from higher tariffs and that it hopes to mitigate 30% of that. GM also said it will feel more pain because of tariffs in the current quarter than it did during the spring. That helped to offset big gains for some homebuilders after they reported stronger profits for the spring than Wall Street had forecast. D.R. Horton rallied 17%, and PulteGroup jumped 11.5%. That was even as both companies said homebuyers are continuing to deal with challenging conditions, including higher mortgage rates and an uncertain economy. So far, the U.S. economy seems to be powering through the uncertainty created by Trump's on-and-off tariffs. Many of Trump's proposed taxes on imports are currently on pause, and the next big deadline is Aug. 1. Talks are underway on possible trade deals with other countries that could lower the stiff proposals before they kick in. Trump said he reached a trade agreement with the Philippines following a meeting Tuesday at the White House, that will see the U.S. slightly drop its tariff rate for the Philippines without paying import taxes for what it sells there. In the bond market, Treasury yields sank as traders continue to expect the Federal Reserve to wait until September at the earliest to resume cutting interest rates. The yield on the 10-year Treasury eased to 4.34% from 4.38% late Monday. In other dealings early Wednesday, U.S. benchmark crude oil gained 14 cents to $65.45 a barrel. Brent crude, the international standard added 18 cents to $68.77 a barrel. In currency trading, the U.S. dollar inched up to 146.80 Japanese yen from 146.64 yen. The euro cost $1.1745, down from $1.1754. ___
Perth Now
7 days ago
- Business
- Perth Now
Aussie shares gain as Japan secures US trade deal
The local bourse has moved higher as markets react to US President Donald Trump's announcement of a trade deal with Japan. About midday on Wednesday, the benchmark S&P/ASX200 index was up 32.9 points, or 0.41 per cent, to 8,714.4, while the broader All Ordinaries had gained 36.1 points, or 0.39 per cent, to 8,976.1. In a post to Truth Social, Mr Trump announced the trade deal would result in Japan investing $76 billion into the US, lifting crude oil and Nikkei's 225 index. While the details of the trade deal were limited and there might be some disagreement from the Japanese side, its impact appeared to be positive, IG market analyst Tony Sycamore said. "Reaching an agreement there would significantly help to defuse the impact and lessen the importance of the August 1 deadline," he said on Wednesday. In Australia, iron ore miners continued to extend gains for the third session this week, bolstered by reforms to China's steel industry. The majority of miners were all in the green with BHP gaining 1.0 per cent, Rio Tinto climbing 2.2 per cent and Fortescue up 1.8 per cent. All four of the big retail banks were in the green, with CBA up 0.1 per cent, NAB edging 0.04 per cent higher, Westpac gaining 0.9 per cent and ANZ climbing 1.1 per cent. In the energy sector, Woodside had climbed 1.7 per cent after Australia's largest oil and gas producer announced second-quarter production was up two per cent from the first quarter. Woodside also announced its $16 billion Scarborough project gas project 375km off the coast of Western Australia was 86 per cent complete and on-track to deliver its first LNG cargo in the second half of 2026. Ampol had grown 3.5 per cent as the petrol company said its convenience retail business had continued its track record of growing earnings in the first half. Karoon Energy rose 0.7 per cent as the Brazil-focused oil and gas producer announced CEO Julian Fowles would depart by mid-2026. Paladin Energy was down 9.2 per cent as the uranium miner announced a 33 per cent quarter-on-quarter rise in production at its Langer Heinrich mine in Namibia. In health care, Telix Pharmaceuticals had slid 12.1 per cent as the radiopharmaceutical company announced shares worth $1 million would be released from voluntary escrow next week. The Australian dollar was buying 65.59 US cents, from 65.14 US cents about 5pm on Tuesday.
Time of India
18-07-2025
- Business
- Time of India
US stock market today: Wall Street pauses near record highs as earnings, inflation expectations take center stage
How did the US stock market perform today? Why did the S&P 500 ease after reaching a record high? Live Events Which stocks made the biggest moves? Which stocks gained the most today? Tesla (TSLA) led the way with a +3.4% jump, boosting the tech-heavy Nasdaq and overall market optimism. led the way with a jump, boosting the tech-heavy Nasdaq and overall market optimism. Charles Schwab (SCHW) also surged +3.4% , fueled by strong quarterly profit growth . also surged , fueled by strong quarterly profit growth . Norfolk Southern (NSC) climbed ~2.9–3% on news of potential merger talks. climbed on news of potential merger talks. Utilities sector stocks led S&P sectors, rallying 1.7% on average. led S&P sectors, rallying on average. Chevron and Hess saw notable gains—Chevron rose on a legal win, and Hess jumped around 7.6% . Apple (AAPL) was flat, with a modest uptick of +0.14% . was flat, with a modest uptick of . Nvidia (NVDA) edged slightly lower, down about 0.2% intraday. Which stocks are leading the market action? The biggest stock losers today based on market performance: American Express (AXP) fell around 3% after its earnings report failed to impress investors despite meeting expectations. fell around after its earnings report failed to impress investors despite meeting expectations. Netflix (NFLX) dropped about 4% , even though it posted better-than-expected earnings, as guidance and subscriber growth disappointed some traders. dropped about , even though it posted better-than-expected earnings, as guidance and subscriber growth disappointed some traders. 3M (MMM) saw a slight decline despite reporting an earnings beat, as future outlook concerns weighed on sentiment. saw a slight decline despite reporting an earnings beat, as future outlook concerns weighed on sentiment. Biotech and healthcare stocks also underperformed, with select names dipping due to weak trial updates or lukewarm guidance. also underperformed, with select names dipping due to weak trial updates or lukewarm guidance. Travel-related stocks like some cruise lines and airlines edged lower after recent rallies, likely from profit-taking. What's going on at the Fed? Is the U.S. economy still showing strength? How did earnings season shape this week's rally? What should investors watch heading into next week? How tech giants perform in the next wave of earnings More clarity on Fed's stance in upcoming meetings Inflation indicators and employment data FAQs: (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel The S&P 500 touched a new all-time high on Friday before pulling back slightly, as investors reacted to a fresh round of corporate earnings and new U.S. economic data. By midday, the S&P 500 was trading just 0.1% higher, showing signs of caution even as the index aims to end the week on a positive note. The Nasdaq Composite also gained 0.1%, while the Dow Jones Industrial Average fell by 59 points, or 0.2%, weighed down by a post-earnings drop in American Express, which slid 3%.For the week, all three major indexes remain on track for gains, with the S&P 500 up 0.8%, the Nasdaq ahead by 1.8%, and the Dow adding 0.2%.slipped approximately 0.54%, weighed down by modest declines in industrial and financial S&P 500's initial jump was driven by optimism around earnings and economic data. However, as traders digested the details, the market cooled. Despite hitting record territory, concerns around individual earnings reports and broader economic signals created a mixed trading Express, a key component of the Dow, saw its shares fall 3% post-earnings, dragging the 30-stock index lower. Meanwhile, Netflix, even after reporting stronger-than-expected earnings, saw its stock drop 4%, showing how investors are reacting cautiously, even to good one of the session's biggest losers, dropping over, despite posting a second-quarter earnings beat and raising its full-year revenue guidance. Analysts pointed to Netflix's high valuation and noted that its results simply weren't enough to satisfy 'elevated expectations.' The stock, already up more than 40% year-to-date, faced pressure as investors hoped for a more bullish fell sharply, down, despite surpassing earnings and revenue estimates. While consumer spending remained resilient—rising 7% year-over-year—executives noted a slight pullback in discretionary areas like travel. The company left its full-year guidance unchanged, which some investors saw as too conservative given current the flip side,gained nearlyafter posting a. The brokerage benefited from increased trading activity driven by market volatility linked to tariff-related heavyweightalso posted solid gains, rising more thanafter beating second-quarter earnings and raising its full-year outlook—helped by stable demand and cost controls.A surprise standout was, which rose overfollowing the passage of the, a groundbreaking stablecoin regulation bill. Analysts at Seaport Research raised their price target from, calling Circle the 'purest stablecoin play' in the market. Since its IPO last month, Circle's stock has surged overOther notable movers:(+4.7%) and(+6.4%) surged following crypto-related legislative news, andspiked aroundin premarket trading on acquisition newsThese gains reflect broad strength across sectors today—tech and velocity boosts from Tesla and crypto, plus energy and utilities pushing continued its rally, inching up another 0.3%, maintaining its upward momentum that's helped lift the tech-heavy Nasdaq. Tesla also saw a solid 3% gain, while Alphabet and Amazon edged PepsiCo and United Airlines jumped earlier in the week after both beat earnings estimates, reflecting strong consumer demand and operational efficiency. Big banks like JPMorgan and Goldman Sachs also posted impressive numbers, adding support to the overall market far, around 60 companies in the S&P 500 have released second-quarter earnings. According to data, 86% of them have surpassed analyst expectations, giving bulls more reason to stay while the broader market held steady, these names faced pressure due to earnings reactions or sector-specific Governor Christopher Waller made headlines with his strongest call yet for a July rate cut. Speaking in New York, Waller argued the central bank should lower its policy rate by 125–150 basis points, bringing it down to 3%. He said any inflation stemming from Trump's tariffs would likely be temporary and shouldn't prevent seen as a potential successor to Fed Chair Jerome Powell, added in a Friday interview that if President Trump offered him the top Fed job, he would accept—though he clarified that Trump 'has not contacted me.'Yes, the latest economic data suggests the U.S. economy remains resilient. Strong GDP growth projections and signs of cooling inflation have helped reinforce investor confidence.'It's a risk-on environment,' said Ken Mahoney, CEO at Mahoney Asset Management. He added, 'While there's chatter about Fed rate cuts, the reality is more nuanced. Historically, markets tend to perform better without cuts. But with inflation easing and GDP growth holding, there's a valid case for a different outcome this time.'Earnings were a key driver of the weekly rally. With a high percentage of companies beating expectations, confidence in corporate fundamentals remains strong. Investors were encouraged by the strength of sectors ranging from consumer goods to airlines and S&P 500's 0.8% weekly gain reflects that positive sentiment, even if Friday's moves were muted. The Nasdaq's 1.8% rise was boosted by mega-cap techs, while the Dow's modest 0.2% gain shows mixed reactions in industrials and more companies continue to report earnings, attention will shift to forward guidance and commentary around inflation, consumer demand, and potential Fed policy. With rate cut discussions still in play and economic data continuing to roll in, markets could remain themes for next week will include:Investors are still in a 'wait and see' mode, but so far, the combination of strong earnings, economic stability, and tech leadership is keeping the rally strong earnings and solid U.S. economic data boosted investor giants like Tesla, Nvidia, Alphabet, and Amazon supported the Nasdaq's gains.
The Advertiser
17-07-2025
- Business
- The Advertiser
Wall St edges up on strong retail sales, economic data
Wall Street's main indexes have inched up, supported by upbeat results from PepsiCo and strong economic data that pointed to a healthy consumer. Retail sales rebounded more than expected in June, rising 0.6 per cent. Meanwhile, initial jobless claims for the last week came in at 221,000, below the anticipated 235,000, pointing to steady job growth in July. "The fact that consumers are still buying is a strong vote of confidence for earnings going forward," said Adam Sarhan, chief executive of 50 Park Investments. "However, things can change if the tariff situation comes in starting August 1. But for now, a stronger consumer is good for the market." Investors already navigated a whirlwind of inflation signals this week - producer prices flatlined in June - but a jump in consumer inflation had already dashed hopes for more aggressive Fed rate cuts. In early trading on Thursday, the Dow Jones Industrial Average rose 149.32 points, or 0.34 per cent, to 44,404.10, the S&P 500 gained 5.90 points, or 0.09 per cent, to 6,269.60 and the Nasdaq Composite gained 22.49 points, or 0.11 per cent, to 20,752.98. PepsiCo jumped 6.6 per cent as upbeat forecasts - fueled by strong demand for energy drinks and healthier sodas - helped offset concerns about a dip in annual core profit. Majority of S&P sectors logged gains. Consumer staples led the pack with a 0.6 per cent rise. US chipmakers edged up after TSMC, the world's main producer of advanced AI chips, posted a record quarterly profit, saying demand for artificial intelligence was getting stronger. US-listed shares of TSMC gained 3.2 per cent, Marvell inched up 0.2 per cent and Nvidia added 0.8 per cent. Wall Street also watched Netflix ahead of its quarterly results after the market's close. Its shares were up 0.4 per cent. United Airlines flagged a hit to its third-quarter earnings from operational snags at Newark airport. However, its shares were up three per cent. Wall Street briefly experienced extreme volatility on Wednesday after reports surfaced that President Donald Trump was considering firing Federal Reserve Chair Jerome Powell. Although Trump swiftly denied the reports, his ongoing criticism of the central bank and hints at possible action kept investors on edge about the Fed's independence. Currently, traders see a 54.3 per cent chance of cutting in September, while a July move is almost completely off the table, according to CME's FedWatch tool. Fed Governor Adriana Kugler signaled that rate cuts are off the table for now, warning that Trump-era tariffs are starting to push up consumer prices - and that tight monetary policy is crucial to keep inflation fears from taking hold. Meanwhile, attention also remained on looming tariffs, with an August 1 deadline threatening higher levies for many US trading partners. Trump told Real America's Voice on Wednesday that the US is closing in on a deal with India and may soon reach an agreement with Europe as well. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the NYSE and by a 2.03-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 38 new highs and 11 new lows. Wall Street's main indexes have inched up, supported by upbeat results from PepsiCo and strong economic data that pointed to a healthy consumer. Retail sales rebounded more than expected in June, rising 0.6 per cent. Meanwhile, initial jobless claims for the last week came in at 221,000, below the anticipated 235,000, pointing to steady job growth in July. "The fact that consumers are still buying is a strong vote of confidence for earnings going forward," said Adam Sarhan, chief executive of 50 Park Investments. "However, things can change if the tariff situation comes in starting August 1. But for now, a stronger consumer is good for the market." Investors already navigated a whirlwind of inflation signals this week - producer prices flatlined in June - but a jump in consumer inflation had already dashed hopes for more aggressive Fed rate cuts. In early trading on Thursday, the Dow Jones Industrial Average rose 149.32 points, or 0.34 per cent, to 44,404.10, the S&P 500 gained 5.90 points, or 0.09 per cent, to 6,269.60 and the Nasdaq Composite gained 22.49 points, or 0.11 per cent, to 20,752.98. PepsiCo jumped 6.6 per cent as upbeat forecasts - fueled by strong demand for energy drinks and healthier sodas - helped offset concerns about a dip in annual core profit. Majority of S&P sectors logged gains. Consumer staples led the pack with a 0.6 per cent rise. US chipmakers edged up after TSMC, the world's main producer of advanced AI chips, posted a record quarterly profit, saying demand for artificial intelligence was getting stronger. US-listed shares of TSMC gained 3.2 per cent, Marvell inched up 0.2 per cent and Nvidia added 0.8 per cent. Wall Street also watched Netflix ahead of its quarterly results after the market's close. Its shares were up 0.4 per cent. United Airlines flagged a hit to its third-quarter earnings from operational snags at Newark airport. However, its shares were up three per cent. Wall Street briefly experienced extreme volatility on Wednesday after reports surfaced that President Donald Trump was considering firing Federal Reserve Chair Jerome Powell. Although Trump swiftly denied the reports, his ongoing criticism of the central bank and hints at possible action kept investors on edge about the Fed's independence. Currently, traders see a 54.3 per cent chance of cutting in September, while a July move is almost completely off the table, according to CME's FedWatch tool. Fed Governor Adriana Kugler signaled that rate cuts are off the table for now, warning that Trump-era tariffs are starting to push up consumer prices - and that tight monetary policy is crucial to keep inflation fears from taking hold. Meanwhile, attention also remained on looming tariffs, with an August 1 deadline threatening higher levies for many US trading partners. Trump told Real America's Voice on Wednesday that the US is closing in on a deal with India and may soon reach an agreement with Europe as well. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the NYSE and by a 2.03-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 38 new highs and 11 new lows. Wall Street's main indexes have inched up, supported by upbeat results from PepsiCo and strong economic data that pointed to a healthy consumer. Retail sales rebounded more than expected in June, rising 0.6 per cent. Meanwhile, initial jobless claims for the last week came in at 221,000, below the anticipated 235,000, pointing to steady job growth in July. "The fact that consumers are still buying is a strong vote of confidence for earnings going forward," said Adam Sarhan, chief executive of 50 Park Investments. "However, things can change if the tariff situation comes in starting August 1. But for now, a stronger consumer is good for the market." Investors already navigated a whirlwind of inflation signals this week - producer prices flatlined in June - but a jump in consumer inflation had already dashed hopes for more aggressive Fed rate cuts. In early trading on Thursday, the Dow Jones Industrial Average rose 149.32 points, or 0.34 per cent, to 44,404.10, the S&P 500 gained 5.90 points, or 0.09 per cent, to 6,269.60 and the Nasdaq Composite gained 22.49 points, or 0.11 per cent, to 20,752.98. PepsiCo jumped 6.6 per cent as upbeat forecasts - fueled by strong demand for energy drinks and healthier sodas - helped offset concerns about a dip in annual core profit. Majority of S&P sectors logged gains. Consumer staples led the pack with a 0.6 per cent rise. US chipmakers edged up after TSMC, the world's main producer of advanced AI chips, posted a record quarterly profit, saying demand for artificial intelligence was getting stronger. US-listed shares of TSMC gained 3.2 per cent, Marvell inched up 0.2 per cent and Nvidia added 0.8 per cent. Wall Street also watched Netflix ahead of its quarterly results after the market's close. Its shares were up 0.4 per cent. United Airlines flagged a hit to its third-quarter earnings from operational snags at Newark airport. However, its shares were up three per cent. Wall Street briefly experienced extreme volatility on Wednesday after reports surfaced that President Donald Trump was considering firing Federal Reserve Chair Jerome Powell. Although Trump swiftly denied the reports, his ongoing criticism of the central bank and hints at possible action kept investors on edge about the Fed's independence. Currently, traders see a 54.3 per cent chance of cutting in September, while a July move is almost completely off the table, according to CME's FedWatch tool. Fed Governor Adriana Kugler signaled that rate cuts are off the table for now, warning that Trump-era tariffs are starting to push up consumer prices - and that tight monetary policy is crucial to keep inflation fears from taking hold. Meanwhile, attention also remained on looming tariffs, with an August 1 deadline threatening higher levies for many US trading partners. Trump told Real America's Voice on Wednesday that the US is closing in on a deal with India and may soon reach an agreement with Europe as well. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the NYSE and by a 2.03-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 38 new highs and 11 new lows. Wall Street's main indexes have inched up, supported by upbeat results from PepsiCo and strong economic data that pointed to a healthy consumer. Retail sales rebounded more than expected in June, rising 0.6 per cent. Meanwhile, initial jobless claims for the last week came in at 221,000, below the anticipated 235,000, pointing to steady job growth in July. "The fact that consumers are still buying is a strong vote of confidence for earnings going forward," said Adam Sarhan, chief executive of 50 Park Investments. "However, things can change if the tariff situation comes in starting August 1. But for now, a stronger consumer is good for the market." Investors already navigated a whirlwind of inflation signals this week - producer prices flatlined in June - but a jump in consumer inflation had already dashed hopes for more aggressive Fed rate cuts. In early trading on Thursday, the Dow Jones Industrial Average rose 149.32 points, or 0.34 per cent, to 44,404.10, the S&P 500 gained 5.90 points, or 0.09 per cent, to 6,269.60 and the Nasdaq Composite gained 22.49 points, or 0.11 per cent, to 20,752.98. PepsiCo jumped 6.6 per cent as upbeat forecasts - fueled by strong demand for energy drinks and healthier sodas - helped offset concerns about a dip in annual core profit. Majority of S&P sectors logged gains. Consumer staples led the pack with a 0.6 per cent rise. US chipmakers edged up after TSMC, the world's main producer of advanced AI chips, posted a record quarterly profit, saying demand for artificial intelligence was getting stronger. US-listed shares of TSMC gained 3.2 per cent, Marvell inched up 0.2 per cent and Nvidia added 0.8 per cent. Wall Street also watched Netflix ahead of its quarterly results after the market's close. Its shares were up 0.4 per cent. United Airlines flagged a hit to its third-quarter earnings from operational snags at Newark airport. However, its shares were up three per cent. Wall Street briefly experienced extreme volatility on Wednesday after reports surfaced that President Donald Trump was considering firing Federal Reserve Chair Jerome Powell. Although Trump swiftly denied the reports, his ongoing criticism of the central bank and hints at possible action kept investors on edge about the Fed's independence. Currently, traders see a 54.3 per cent chance of cutting in September, while a July move is almost completely off the table, according to CME's FedWatch tool. Fed Governor Adriana Kugler signaled that rate cuts are off the table for now, warning that Trump-era tariffs are starting to push up consumer prices - and that tight monetary policy is crucial to keep inflation fears from taking hold. Meanwhile, attention also remained on looming tariffs, with an August 1 deadline threatening higher levies for many US trading partners. Trump told Real America's Voice on Wednesday that the US is closing in on a deal with India and may soon reach an agreement with Europe as well. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the NYSE and by a 2.03-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 38 new highs and 11 new lows.
Perth Now
17-07-2025
- Business
- Perth Now
Wall St edges up on strong retail sales, economic data
Wall Street's main indexes have inched up, supported by upbeat results from PepsiCo and strong economic data that pointed to a healthy consumer. Retail sales rebounded more than expected in June, rising 0.6 per cent. Meanwhile, initial jobless claims for the last week came in at 221,000, below the anticipated 235,000, pointing to steady job growth in July. "The fact that consumers are still buying is a strong vote of confidence for earnings going forward," said Adam Sarhan, chief executive of 50 Park Investments. "However, things can change if the tariff situation comes in starting August 1. But for now, a stronger consumer is good for the market." Investors already navigated a whirlwind of inflation signals this week - producer prices flatlined in June - but a jump in consumer inflation had already dashed hopes for more aggressive Fed rate cuts. In early trading on Thursday, the Dow Jones Industrial Average rose 149.32 points, or 0.34 per cent, to 44,404.10, the S&P 500 gained 5.90 points, or 0.09 per cent, to 6,269.60 and the Nasdaq Composite gained 22.49 points, or 0.11 per cent, to 20,752.98. PepsiCo jumped 6.6 per cent as upbeat forecasts - fueled by strong demand for energy drinks and healthier sodas - helped offset concerns about a dip in annual core profit. Majority of S&P sectors logged gains. Consumer staples led the pack with a 0.6 per cent rise. US chipmakers edged up after TSMC, the world's main producer of advanced AI chips, posted a record quarterly profit, saying demand for artificial intelligence was getting stronger. US-listed shares of TSMC gained 3.2 per cent, Marvell inched up 0.2 per cent and Nvidia added 0.8 per cent. Wall Street also watched Netflix ahead of its quarterly results after the market's close. Its shares were up 0.4 per cent. United Airlines flagged a hit to its third-quarter earnings from operational snags at Newark airport. However, its shares were up three per cent. Wall Street briefly experienced extreme volatility on Wednesday after reports surfaced that President Donald Trump was considering firing Federal Reserve Chair Jerome Powell. Although Trump swiftly denied the reports, his ongoing criticism of the central bank and hints at possible action kept investors on edge about the Fed's independence. Currently, traders see a 54.3 per cent chance of cutting in September, while a July move is almost completely off the table, according to CME's FedWatch tool. Fed Governor Adriana Kugler signaled that rate cuts are off the table for now, warning that Trump-era tariffs are starting to push up consumer prices - and that tight monetary policy is crucial to keep inflation fears from taking hold. Meanwhile, attention also remained on looming tariffs, with an August 1 deadline threatening higher levies for many US trading partners. Trump told Real America's Voice on Wednesday that the US is closing in on a deal with India and may soon reach an agreement with Europe as well. Advancing issues outnumbered decliners by a 1.49-to-1 ratio on the NYSE and by a 2.03-to-1 ratio on the Nasdaq. The S&P 500 posted 13 new 52-week highs and two new lows, while the Nasdaq Composite recorded 38 new highs and 11 new lows.
