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CNBC
4 days ago
- Business
- CNBC
European stocks set to extend gains as world awaits Trump-Putin meeting
After three consecutive days of gains, the pan-European Stoxx 50 looks set to rise again today, with futures tied to the index last seen trading 0.6% higher. Those tied to the German DAX, France's CAC 40 and London's FTSE 100 are also all up by around 0.6%. Market participants will be watching news out of the highly anticipated meeting between U.S. President Donald Trump and his Russian counterpart Vladimir Putin, with hopes building that a resolution on the war in Ukraine can be reached. — Chloe Taylor A woman stands inside a store of Danish international jewellery company Pandora in Copenhagen, Denmark. Ida Marie Odgaard | Afp | Getty Images Danish jewelry brand Pandora on Friday posted a slightly weaker-than-expected rise in second-quarter sales and maintained its full-year outlook despite flagging continued weakness in China. Revenues rose 8% on an organic basis to 7.08 billion Danish kroner ($1.10 billion) in the three-month period, just shy of the 7.12 billion Danish kroner forecast by LSEG analysts. China recorded the largest decline in organic sales, down 15%, while the U.S. accelerated 12%. Pandora said performance in China "continues to be challenged" and announced an anticipated doubling of store closures in the country to 100 this year. The company nevertheless reiterated its full-year forecast for organic sales growth of 7% to 8% and an operating profit margin of at least 24%, including the impact of U.S. tariffs. — Karen Gilchrist
CNBC
7 days ago
- Business
- CNBC
Asia markets set to open higher, tracking Wall Street gains amid Fed cut hopes
A woman walks past an electronic board showing the Nikkei 225 index on the Tokyo Stock Exchange along a street in central Tokyo on July 22, 2025. Kazuhiro Nogi | Afp | Getty Images Asia-Pacific markets are expected to open mostly higher, tracking gains on Wall Street after the latest U.S. inflation data lifted the possibility that the Federal Reserve could cut interest rates next month. Happy mid-week from Singapore. Asia markets are set for a mostly higher open. Japan's Nikkei 225 was set to open higher, with the futures contract in Chicago at 43,325, while its counterpart in Osaka last traded at 43,280, against the index's last close of 42,718.17. Futures for Hong Kong's Hang Seng index stood at 25,144, pointing to a higher open compared with the HSI's last close of 24,969.68. However, Australia's S&P/ASX 200 was set to start the day lower with futures tied to the benchmark at 8,852, compared with the index's last close of 8,880.8. — Lee Ying Shan Traders work on the floor of the New York Stock Exchange on August 11, 2025. NYSE The S&P 500 rose 0.8% on Tuesday to hit a new intraday high. Stock chart icon S&P 5D chart During the session, the S&P 500 surpassed its prior high from July 31. A closing high would be the S&P's 16th of the year. Earlier in the morning, the Nasdaq Composite also hit a new intraday high. A record close would be the benchmark's 19th of the year. — Nick Wells, Lisa Kailai Han
CNBC
10-07-2025
- Business
- CNBC
Asia-Pacific markets are set to trade higher, tracking Wall Street gains
Asia-Pacific markets are set to trade higher, tracking Wall Street gains after the S&P 500 and Nasdaq Composite hit new records as investors seem to shake off tariff concerns. The S&P 500 notched a new all-time closing high on Thursday. The broad market benchmark rose 0.27% and closed at 6,280.46. The Nasdaq Composite also closed at a record high for the second day in a row, gaining 0.09% to end at 20,630.67. The Dow Jones Industrial Average added 192.34 points, or 0.43%, to finish at 44,650.64. — Lisa Kailai Han Romain Costaseca | Afp | Getty Images Bitcoin climbed to new all-time high of $113,863.31 on Thursday, building on its previous record reached just a day earlier, as investors jumped into risk assets and liquidated short positions. Over the past 24 hours, $318 million in short liquidations have occurred across centralized exchanges, according to CoinGlass. Altcoins, or cryptocurrencies other than bitcoin, joined the rally for a second day after many investors had started to lose hope that they would show signs of life this year. Bitcoin has traded in a tight range for several weeks despite billions of dollars flowing into bitcoin exchange traded funds, which has helped the price stay above the $100,000 level for more than 60 consecutive days. Public companies have also been on a bitcoin buying spree and outpaced bitcoin ETF inflows in the second quarter. Read the full story here. — Tanaya Macheel
CNBC
22-06-2025
- Business
- CNBC
Dow futures slide 200 points as oil rises following U.S. bombing of Iran: Live updates
Traders work on the floor of the New York Stock Exchange (NYSE) in New York City on June 18, 2025. Timothy A. Clary | Afp | Getty Images Stock futures fell ahead of Monday's session after the United States entered Israel's war against Iran over the weekend by striking three nuclear sites, a move by President Donald Trump that raised oil prices and risked a bigger conflict in the Middle East. Futures tied to the Dow Jones Industrial Average fell by 159 points, or 0.4%. S&P 500 futures shed 0.4% and Nasdaq 100 futures lost 0.5%. The U.S. launched attacks Saturday at Iranian sites in Fordo, Isfahan and Natanz, surprising investors who were expecting more diplomacy to possibly take place after Trump said on Friday that he would make a decision to attack Iran "within the next two weeks," according to the White House. Oil prices have already spiked in recent weeks following the increased tensions in the Middle East. On Sunday night, U.S. crude oil futures rose another 3.8% to nearly $77 a barrel. "When you have conflict, you have an overreaction — a knee jerk reaction — which tends to be an exaggeration, that can last up to two to three weeks," said Jay Woods, chief global strategist at Freedom Capital Markets. "With Ukraine, the S&P 500 sold off 6% and oil spiked dramatically." Trump said in a Saturday evening speech from the White House after the attacks, that "there will be either peace, or there will be tragedy for Iran far greater than we have witnessed over the last eight days." Now traders braced for Iran's retaliation. The country could target U.S. personnel in nearby bases or close the Strait of Hormuz, which would majorly disrupt global oil flows. A prolonged blocking of the strait could boost oil prices above $100 per barrel. In a Sunday interview, with Fox News, U.S. Secretary of State Marco Rubio called for the Chinese government to step in and prevent Iran from closing the key trade route. China remains Iran's most important oil customer. "Now with the US fully engaged in the conflict, the baseline for oil prices has shifted to the mid $80s range per barrel entering stage two from one-side regional conflict to US managed conflict," said Ahmad Assiri of Pepperstone. "Even if Iran doesn't physically close the strait or attack oil tanks, the mere increase in probability from about 5% to around 15% will itself create a premium in crude prices." The S&P 500 lost 0.15% last week for its second negative week in a row. Despite this soft patch, the benchmark closed Friday about 3% from a record. The spike in oil prices and a greater war in the Middle East adds another threat to the stock market and the economy, already dealing with a rushed remaking of global trade by Trump this year.
Business Mayor
25-05-2025
- Business
- Business Mayor
Japan's core inflation climbs to 3.5%, highest in more than 2 years
Global Economy May 23, 2025 TOPSHOT – Customers enter an electronics shop in the Akihabara district of Tokyo on January 12, 2024. Richard A. Brooks | Afp | Getty Images Japan's core inflation accelerated to 3.5% in April, government data showed Friday, bolstered in part by surging rice prices, as the central bank considers pausing its rate hike posture to assess the impact of U.S. tariffs. The core inflation figure, which strips out prices for fresh food, was higher than expectations of 3.4%, according to economists polled by Reuters, rising from 3.2% in the previous month and marking the highest level since January 2023. Headline inflation climbed 3.6% from a year ago, steady from the prior month and staying above the Bank of Japan's 2% target for more than three years. Bank of Japan Governor Kazuo Ueda has signaled his stance on intending to raise rates given price trends, while also citing the need to monitor closely the effects of U.S. tariffs. Rice prices in Japan have doubled over the year. The average price in 1,000 supermarkets across the country reportedly continued to hit record highs, with prices for a 5-kilogram bag of rice hiking by 54 yen from the previous week to 4,268 yen ($29.63) as of May 11. The country's prime minister, Shigeru Ishiba, has reportedly pledged to lower rice prices to below 4,000 yen ($28) per 5-kilogram bag, staking his job on the line. The core inflation is expected to ease in the coming months due to lower crude oil prices and the yen's appreciation, said Masato Koike, economist at Sompo Institute Plus. As seen during Trump's first administration, an oversupply of food stemming from the U.S. tariffs could lead to lower food prices, said Koike, adding that the resumption of government subsidies for electricity and gas bills in the summer will also create downward pressure on inflation. The Japanese yen strengthened 0.15% to 143.80 against the U.S. dollar following the release, while the benchmark Nikkei 225 rose modestly. Marcel Thieliant, head of Asia-Pacific at Capital Economics, anticipates the persistent strength in inflation will convince the BOJ to hike interest rates again in October. Japan currently faces a 10% baseline tariff that U.S. President Donald Trump imposed on most trade partners, alongside a 24% 'reciprocal' tariff, which is set to come into effect in July, unless the country manages to strike a deal with the U.S. The country is also one of the hardest hit by Trump's 25% levy on auto, steel and aluminum products. The bilateral negotiation, however, appears to be in a standoff. Japanese senior officials have requested that Washington remove all tariffs on Tokyo, emphasizing that the country will not rush into any deal that puts the country's interests at risk. READ SOURCE
