Latest news with #AldenBentley
Yahoo
24-04-2025
- Business
- Yahoo
Trading Day: Stocks rally for third day as earnings optimism trumps tariffs confusion
NEW YORK (Reuters) - TRADING DAY Making sense of the forces driving global markets. By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below. I'd love to hear from you, so please reach out to me with comments at If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in the markets. 1. China pushes for tariff cancellation to end US trade war 2. US durable goods orders soar on aircraft bookings inMarch 3. US labor market holds steady despite darkening cloudsfrom tariffs 4. Fed officials argue for patience while gauging tariffimpact 5. Bank of England's Bailey says he is focused on thegrowth hit from tariffs 6. China has scope to ramp up stimulus, fix property woes,IMF says 7. Trump trade war spreads more gloom across businessesacross the world Today's Key Market Moves 1. The S&P 500 closes up 2.02%, the Nasdaq Composite ends2.74% higher and Dow Jones Industrial Average rises 1.23%. 2. The dollar falls 0.6% against the yen, trading at 142.52. The euro rises 0.7%. 3. Gold closes up 1.85%. 4. The 10-year Treasury note yield falls 7.6 basis points to4.311%. 5. Brent crude oil falls 0.4% to $66.38 a barrel. 6. The pan-European STOXX 600 index rises 0.36%, whileEurope's broad FTSEurofirst 300 index rises 0.40%. 7. MSCI's broadest index of Asia-Pacific shares outsideJapan closes down 0.33%, while Japan's Nikkei rises 0.49%. Stocks rally for third day, earnings optimism trumps tariffs confusion While Thursday marked Wall Street's third rally in a row, given three topsy-turvy weeks of tariff headlines, and the ugly selloff four sessions ago, it is premature to declare "confidence is back!" The S&P 500 is up six-plus percent since Tuesday, but is still down about 10% from its record close on February 19 and down more than 3% since U.S. President Donald Trump's ill-received April 2 "Liberation Day" tariff news conference. But some okay earnings reports have stabilized the mood of investors, if not of business which has yet to feel the full brunt of whatever tariff regime is left on the books. ServiceNow's shares jumped 14.8% on profit that was better than expected due to resilient demand for AI-powered software. The release of Alphabet earnings after the market close could provide more information on how AI investments are paying off. Beijing said the U.S. should remove all "unilateral tariff measures" against China "if it truly wanted" to solve the trade issue. It also said there have been no economic and trade negotiations between the two countries, which Trump refuted. So the confusion continues. The White House on Wednesday signaled it was open to reducing sweeping tariffs on China, floating a reduction in the rate to 50% to 60% from the 145% Trump decreed in the initial walk back of aggressive levies on most other trading partners. About 73.9% of the 157 companies in the S&P 500 that have reported first-quarter earnings to date have exceeded analyst expectations even amid tariff uncertainty, according to LSEG data. Even so, businesses across multiple industries are saying they're increasing prices and uncertain about the outlook because of Trump's trade policies. The dollar pulled back following an interlude of trade optimism on Wednesday, but not all the way to its lows during the worst of the backlash against U.S. assets. Treasuries held up amid hopes that any tariff war won't be as bad as it could have been, so yields fell but remained in range established during the bond and dollar rout. Market concerns around a meaningful retreat of foreign buyers were partly assuaged this week, as Treasury auction allocation data on Wednesday showed solid foreign demand for a 10-year auction earlier this month, when the bond market was selling off amid tariff-induced volatility. What could move markets tomorrow? * University of Michigan final US sentiment survey for April * US earnings: AbbVie, Phillips 66, Schlumberger Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Sign in to access your portfolio
Reuters
24-04-2025
- Business
- Reuters
TRADING DAY Stocks rally for third day as earnings optimism trumps tariffs confusion
NEW YORK, April 24 (Reuters) - TRADING DAY Making sense of the forces driving global markets. here. By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below. I'd love to hear from you, so please reach out to me with comments at opens new tab. If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in the markets. China pushes for tariff cancellation to end US trade war US durable goods orders soar on aircraft bookings in March US labor market holds steady despite darkening clouds from tariffs Fed officials argue for patience while gauging tariff impact Bank of England's Bailey says he is focused on the growth hit from tariffs China has scope to ramp up stimulus, fix property woes, IMF says Trump trade war spreads more gloom across businesses across the world Today's Key Market Moves The S&P 500 closes up 2.02%, the Nasdaq Composite ends 2.74% higher and Dow Jones Industrial Average rises 1.23%. The dollar falls 0.6% against the yen , trading at 142.52. The euro rises 0.7%. Gold closes up 1.85%. The 10-year Treasury note yield falls 7.6 basis points to 4.311%. Brent crude oil falls 0.4% to $66.38 a barrel. The pan-European STOXX 600 (.STOXX), opens new tab index rises 0.36%, while Europe's broad FTSEurofirst 300 index (.FTEU3), opens new tab rises 0.40%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab closes down 0.33%, while Japan's Nikkei (.N225), opens new tab rises 0.49%. Stocks rally for third day, earnings optimism trumps tariffs confusion While Thursday marked Wall Street's third rally in a row, given three topsy-turvy weeks of tariff headlines, and the ugly selloff four sessions ago, it is premature to declare "confidence is back!" The S&P 500 is up six-plus percent since Tuesday, but is still down about 10% from its record close on February 19 and down more than 3% since U.S. President Donald Trump's ill-received April 2 "Liberation Day" tariff news conference. But some okay earnings reports have stabilized the mood of investors, if not of business which has yet to feel the full brunt of whatever tariff regime is left on the books. ServiceNow's shares jumped 14.8% on profit that was better than expected due to resilient demand for AI-powered software. The release of Alphabet earnings after the market close could provide more information on how AI investments are paying off. Beijing said the U.S. should remove all "unilateral tariff measures" against China "if it truly wanted" to solve the trade issue. It also said there have been no economic and trade negotiations between the two countries, which Trump refuted. So the confusion continues. The White House on Wednesday signaled it was open to reducing sweeping tariffs on China, floating a reduction in the rate to 50% to 60% from the 145% Trump decreed in the initial walk back of aggressive levies on most other trading partners. About 73.9% of the 157 companies in the S&P 500 that have reported first-quarter earnings to date have exceeded analyst expectations even amid tariff uncertainty, according to LSEG data. Even so, businesses across multiple industries are saying they're increasing prices and uncertain about the outlook because of Trump's trade policies. The dollar pulled back following an interlude of trade optimism on Wednesday, but not all the way to its lows during the worst of the backlash against U.S. assets. Treasuries held up amid hopes that any tariff war won't be as bad as it could have been, so yields fell but remained in range established during the bond and dollar rout. Market concerns around a meaningful retreat of foreign buyers were partly assuaged this week, as Treasury auction allocation data on Wednesday showed solid foreign demand for a 10-year auction earlier this month, when the bond market was selling off amid tariff-induced volatility. What could move markets tomorrow? University of Michigan final US sentiment survey for April US earnings: AbbVie, Phillips 66, Schlumberger Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Yahoo
23-04-2025
- Business
- Yahoo
Trading Day: Wall Street extends rebound as trade war fears subside
NEW YORK (Reuters) - Making sense of the forces driving global markets By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below. I'd love to hear from you, so please reach out to me with comments at If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets. 1. White House would consider cutting China tariffs as partof talks, source says 2. Bessent says China tariffs are not sustainable as USsignals willingness to de-escalate 3. Americans sour on Trump's handling of the economy,Reuters/Ipsos poll finds 4. Investors relieved Musk will refocus on Tesla, but worryabout brand damage 5. Citadel's Griffin says Trump needs to be careful aboutTreasuries' brand 6. Wall St rallies on tariff optimism, Trump eases Powellthreats 7. Tariffs restrain US business activity, boost askingprices for products Today's Key Market Moves * The S&P 500 closes up 1.79%, the Nasdaq Composite ends2.61% higher and Dow Jones Industrial Average rises 1.22%. * The dollar rises 1.2% against the yen, trading at 143.28,near an eight-day high. The euro falls 0.84%. * Gold closes down 2.6%. * The 10-year Treasury note yield eases 0.8 basis point to4.3812%. * Brent crude oil falls 2% to $66.05 a barrel. * The pan-European STOXX 600 index rises 1.78%, whileEurope's broad FTSEurofirst 300 index rises 1.75%. * MSCI's broadest index of Asia-Pacific shares outside Japancloses 1.99% higher, while Japan's Nikkei rises 1.89%. Wall Street extends rebound as trade war fears subside The bounce in U.S. stocks gained momentum on Wednesday as the Trump administration turned down the heat on its trade war with China that has so rattled markets, while the president distanced himself from his own calls for the immediate termination of Federal Reserve chair Jerome Powell. At one point Wall Street's indexes were up more than 3%, with the S&P 500 hitting a two-week high, after a Wall Street Journal report cited a senior White House official as saying that U.S. tariffs on China were likely to come down to between roughly 50% and 60%. There was talk of short covering even as investors were loathe to buy into a full-recovery scenario. They remain distrustful after the selloff on U.S. President Donald Trump's on-again, off-again tariff declarations since April 2 earned the Nasdaq a bear-market label, the S&P 500 nearly so, and sent investors rushing out of dollar-based assets like Treasury bonds, which had been trusted safe-havens. Late Tuesday, Trump dialed back his attacks on the Fed chief, which helped futures build on a recovery. "I have no intention of firing him," Trump said at the Oval Office. "I would like to see him be a little more active in terms of his idea to lower interest rates." Trump had threatened to remove Powell, who is widely viewed as a stabilizing force in the market, just as his chaotic trade policy most required a disciplined Fed. It also helped that Tesla shares jumped almost 6% after CEO Elon Musk said he would significantly scale back his work with the Trump administration to devote more time to running his companies. Even so, the electric carmaker posted a 71% plunge in quarterly net profit. The market seems to welcome any distraction from Trump headlines, if only so it can focus on earnings as the first quarter reporting season gets into full swing. Boeing shares also surged after the planemaker reported a smaller-than-expected quarterly loss. The dollar found a footing, rising to an eight-day high versus the yen and a seven-day high on the euro. The benchmark 10-year Treasury note tried to rally, pushing the yield down to its lowest since April 8, but faded with the yield off just 0.6 bp in late trade. What could move markets tomorrow? * South Korea GDP (Q1) * Japan foreign stocks and bonds investment * Tokyo CPI (April) * U.S. earnings: Merck, Procter & Gamble, Bristol-MyersSquibb, Alphabet * U.S. seven-year Treasury note auction * U.S. durable goods orders (March) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. (By Alden Bentley; Editing by Nia Williams) Sign in to access your portfolio
Reuters
23-04-2025
- Business
- Reuters
TRADING DAY Wall Street extends rebound as trade war fears subside
NEW YORK, April 23 (Reuters) - Making sense of the forces driving global markets By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below. I'd love to hear from you, so please reach out to me with comments at opens new tab. If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets. White House would consider cutting China tariffs as part of talks, source says Bessent says China tariffs are not sustainable as US signals willingness to de-escalate Americans sour on Trump's handling of the economy, Reuters/Ipsos poll finds Investors relieved Musk will refocus on Tesla, but worry about brand damage Citadel's Griffin says Trump needs to be careful about Treasuries' brand Wall St rallies on tariff optimism, Trump eases Powell threats Tariffs restrain US business activity, boost asking prices for products Today's Key Market Moves The S&P 500 closes up 1.79%, the Nasdaq Composite ends 2.61% higher and Dow Jones Industrial Average rises 1.22%. The dollar rises 1.2% against the yen , trading at 143.28, near an eight-day high. The euro falls 0.84%. Gold closes down 2.6%. The 10-year Treasury note yield eases 0.8 basis point to 4.3812%. Brent crude oil falls 2% to $66.05 a barrel. The pan-European STOXX 600 (.STOXX), opens new tab index rises 1.78%, while Europe's broad FTSEurofirst 300 index (.FTEU3), opens new tab rises 1.75%. MSCI's broadest index of Asia-Pacific shares outside Japan (.MIAPJ0000PUS), opens new tab closes 1.99% higher, while Japan's Nikkei (.N225), opens new tab rises 1.89%. Wall Street extends rebound as trade war fears subside The bounce in U.S. stocks gained momentum on Wednesday as the Trump administration turned down the heat on its trade war with China that has so rattled markets, while the president distanced himself from his own calls for the immediate termination of Federal Reserve chair Jerome Powell. At one point Wall Street's indexes were up more than 3%, with the S&P 500 hitting a two-week high, after a Wall Street Journal report cited a senior White House official as saying that U.S. tariffs on China were likely to come down to between roughly 50% and 60%. There was talk of short covering even as investors were loathe to buy into a full-recovery scenario. They remain distrustful after the selloff on U.S. President Donald Trump's on-again, off-again tariff declarations since April 2 earned the Nasdaq a bear-market label, the S&P 500 nearly so, and sent investors rushing out of dollar-based assets like Treasury bonds, which had been trusted safe-havens. Late Tuesday, Trump dialed back his attacks on the Fed chief, which helped futures build on a recovery. "I have no intention of firing him," Trump said at the Oval Office. "I would like to see him be a little more active in terms of his idea to lower interest rates." Trump had threatened to remove Powell, who is widely viewed as a stabilizing force in the market, just as his chaotic trade policy most required a disciplined Fed. It also helped that Tesla (TSLA.O), opens new tab shares jumped almost 6% after CEO Elon Musk said he would significantly scale back his work with the Trump administration to devote more time to running his companies. Even so, the electric carmaker posted a 71% plunge in quarterly net profit. The market seems to welcome any distraction from Trump headlines, if only so it can focus on earnings as the first quarter reporting season gets into full swing. Boeing (BA.N), opens new tab shares also surged after the planemaker reported a smaller-than-expected quarterly loss. The dollar found a footing, rising to an eight-day high versus the yen and a seven-day high on the euro . The benchmark 10-year Treasury note tried to rally, pushing the yield down to its lowest since April 8, but faded with the yield off just 0.6 bp in late trade. What could move markets tomorrow? Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, opens new tab, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias.
Yahoo
23-04-2025
- Business
- Yahoo
Trading Day: Wall Street extends rebound as trade war fears subside
NEW YORK (Reuters) - Making sense of the forces driving global markets By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below. I'd love to hear from you, so please reach out to me with comments at If you have more time to read today, here are a few articles I recommend to help you make sense of what happened in markets. 1. White House would consider cutting China tariffs as partof talks, source says 2. Bessent says China tariffs are not sustainable as USsignals willingness to de-escalate 3. Americans sour on Trump's handling of the economy,Reuters/Ipsos poll finds 4. Investors relieved Musk will refocus on Tesla, but worryabout brand damage 5. Citadel's Griffin says Trump needs to be careful aboutTreasuries' brand 6. Wall St rallies on tariff optimism, Trump eases Powellthreats 7. Tariffs restrain US business activity, boost askingprices for products Today's Key Market Moves * The S&P 500 closes up 1.79%, the Nasdaq Composite ends2.61% higher and Dow Jones Industrial Average rises 1.22%. * The dollar rises 1.2% against the yen, trading at 143.28,near an eight-day high. The euro falls 0.84%. * Gold closes down 2.6%. * The 10-year Treasury note yield eases 0.8 basis point to4.3812%. * Brent crude oil falls 2% to $66.05 a barrel. * The pan-European STOXX 600 index rises 1.78%, whileEurope's broad FTSEurofirst 300 index rises 1.75%. * MSCI's broadest index of Asia-Pacific shares outside Japancloses 1.99% higher, while Japan's Nikkei rises 1.89%. Wall Street extends rebound as trade war fears subside The bounce in U.S. stocks gained momentum on Wednesday as the Trump administration turned down the heat on its trade war with China that has so rattled markets, while the president distanced himself from his own calls for the immediate termination of Federal Reserve chair Jerome Powell. At one point Wall Street's indexes were up more than 3%, with the S&P 500 hitting a two-week high, after a Wall Street Journal report cited a senior White House official as saying that U.S. tariffs on China were likely to come down to between roughly 50% and 60%. There was talk of short covering even as investors were loathe to buy into a full-recovery scenario. They remain distrustful after the selloff on U.S. President Donald Trump's on-again, off-again tariff declarations since April 2 earned the Nasdaq a bear-market label, the S&P 500 nearly so, and sent investors rushing out of dollar-based assets like Treasury bonds, which had been trusted safe-havens. Late Tuesday, Trump dialed back his attacks on the Fed chief, which helped futures build on a recovery. "I have no intention of firing him," Trump said at the Oval Office. "I would like to see him be a little more active in terms of his idea to lower interest rates." Trump had threatened to remove Powell, who is widely viewed as a stabilizing force in the market, just as his chaotic trade policy most required a disciplined Fed. It also helped that Tesla shares jumped almost 6% after CEO Elon Musk said he would significantly scale back his work with the Trump administration to devote more time to running his companies. Even so, the electric carmaker posted a 71% plunge in quarterly net profit. The market seems to welcome any distraction from Trump headlines, if only so it can focus on earnings as the first quarter reporting season gets into full swing. Boeing shares also surged after the planemaker reported a smaller-than-expected quarterly loss. The dollar found a footing, rising to an eight-day high versus the yen and a seven-day high on the euro. The benchmark 10-year Treasury note tried to rally, pushing the yield down to its lowest since April 8, but faded with the yield off just 0.6 bp in late trade. What could move markets tomorrow? * South Korea GDP (Q1) * Japan foreign stocks and bonds investment * Tokyo CPI (April) * U.S. earnings: Merck, Procter & Gamble, Bristol-MyersSquibb, Alphabet * U.S. seven-year Treasury note auction * U.S. durable goods orders (March) Opinions expressed are those of the author. They do not reflect the views of Reuters News, which, under the Trust Principles, is committed to integrity, independence, and freedom from bias. Trading Day is also sent by email every weekday morning. Think your friend or colleague should know about us? Forward this newsletter to them. They can also sign up here. (By Alden Bentley; Editing by Nia Williams)
