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Yahoo
2 days ago
- Business
- Yahoo
German markets steady as investors await inflation data
Investors on the German stock market remained cautious on Friday, as they awaited inflation figures from Germany and developments surrounding the US tariff policy. A public holiday in Germany the previous day is likely to slow trading, with many investors enjoying a long weekend. The leading German stock exchange index, the DAX, climbed 0.19% to 23,978.18 points shortly after the start of trading on Friday. The second-tier MDAX of medium-sized companies remained virtually unchanged at 30,698.45 points. The eurozone's leading index, the EURO STOXX 50, fell slightly. This followed the DAX's previous record run to almost 24,326 points in the middle of the week, after which some investors cashed in during thin holiday trading on Thursday. Observers are now focusing on economic data, with experts awaiting the May inflation figures from Germany's Federal Statistical Office at 2 pm (1200 GMT). "This information is important in view of next week's ECB [European Central Bank] Governing Council meeting," experts from the Landesbank Helaba said in their morning commentary. The ECB is set to make a decision on interest rates at the meeting on Thursday. Price data from the United States will also be released shortly after the German inflation figures. Court rulings on the US government's tariff policy have muddied the situation on the financial markets, according to the Helaba experts. "A large proportion of the tariffs have been declared invalid and blocked, but an appeals court has now reinstated the easures, for the time being. The situation remains tense," they said. Investors on Wall Street, however, were largely unfazed by the legal wrangling. 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
2 days ago
- Business
- Yahoo
European benchmarks rise while Asian shares finished lower amid uncertainty over Trump's tariffs
TOKYO (AP) — European shares rose while Asian benchmarks finished mostly lower Friday as uncertainty grew about what will happen next after a U.S. court blocked many of President Donald Trump's sweeping tariffs. France's CAC 40 rose 0.2% in early trading to 7,796.14, while Germany's DAX jumped 0.6% to 24,122.42. Britain's FTSE 100 added 0.6% to 8,771.71. U.S. shares were set to drift lower with Dow futures down 0.1% at 42,217.00. S&P 500 futures declined 0.1% to 5,914.75. Japan's benchmark Nikkei 225 lost 1.2% to finish at 37,965.10. Government data showed Tokyo core inflation, excluding fresh food, rising to a higher-than-expected 3.6% in May. Some analysts say that makes it more likely the Bank of Japan will raise interest rates. Australia's S&P/ASX 200 rose 0.3% to 8,434.70. South Korea's Kospi declined 0.8% to 2,697.67, ahead of a presidential election set for next week. Hong Kong's Hang Seng slipped 1.2% to 23,289.77, while the Shanghai Composite shed 0.5% to 3,347.49. Earlier this week, the U.S. Court of International Trade said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorize the use of tariffs. The ruling at first raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. But the tariffs remain in place for now while the White House appeals the ruling, and the ultimate outcome is still uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. The Court of Appeals for the Federal Circuit on Thursday allowed the president to temporarily continue collecting the tariffs under the emergency powers law while he appeals the trade court's decision. Un energy trading, benchmark U.S. crude rose 24 cents to $61.18 a barrel. Brent crude, the international standard, edged up 23 cents to $64.38 a barrel. In currency trading, the U.S. dollar declined to 143.96 Japanese yen from 144.12 yen. The euro cost $1.1342, down from $1.1367.
Yahoo
2 days ago
- Business
- Yahoo
FTSE 100 LIVE: European stocks rise despite appeals court temporarily reinstating Trump tariffs
The FTSE 100 (^FTSE) and European markets were higher on Friday, despite stocks in Asia slipping overnight on news that Donald Trump's tariffs have been temporarily reinstated. On Wednesday night, the US Court of International Trade blocked most of the president's sweeping trade levies, however, an appeals court has agreed to a pause in the decision. In its appeal on Thursday, the Trump administration said the decision issued by the trade court a day earlier had improperly second-guessed the president and threatened to unravel months of hard-fought trade negotiations. "The political branches, not courts, make foreign policy and chart economic policy," it said in the filing. The US Court of Appeals for the Federal Circuit, which oversees the International Trade Court, granted the Trump administration's request for a temporary administrative stay. The administration must submit its briefings by 9 June, after which the court will determine the next steps. The US dollar has been unsteady on the back of the news, and is now heading for its fifth consecutive monthly decline as investors brace for more uncertainty around trade. London's benchmark index (^FTSE) was 0.6% higher in early trade Germany's DAX (^GDAXI) rose 0.5% and the CAC (^FCHI) in Paris headed 0.1% into the green The pan-European STOXX 600 (^STOXX) was up 0.4% Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in marginally in the red. The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3477 Follow along for live updates throughout the day: The Federal Reserve said that Jerome Powell met with Donald Trump Thursday "at the president's invitation," and the White House said the president told the central bank boss that he is making a mistake by not lowering rates. The face-to-face encounter follows months of Powell criticism from Trump and pressure on the Fed to ease monetary policy. The Fed said in a statement that Powell met with the president to discuss "economic developments including for growth, employment, and inflation." Powell, according to the Fed, "did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook." The chair said he and his colleagues on the Fed's rate-setting committee will make decisions about monetary policy "based solely on careful, objective, and non-political analysis," the Fed added in its statement. The White House confirmed the Powell meeting, with press secretary Karoline Leavitt telling reporters that the Fed's summary was correct but noting that the president pushed Powell to lower rates. "The president did say that he believes the Fed chair is making a mistake by not lowering interest rates, which is putting us at an economic disadvantage to China and other countries," she said, adding Trump has been very vocal about his views publicly as well. Stocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment surveyThe Federal Reserve said that Jerome Powell met with Donald Trump Thursday "at the president's invitation," and the White House said the president told the central bank boss that he is making a mistake by not lowering rates. The face-to-face encounter follows months of Powell criticism from Trump and pressure on the Fed to ease monetary policy. The Fed said in a statement that Powell met with the president to discuss "economic developments including for growth, employment, and inflation." Powell, according to the Fed, "did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook." The chair said he and his colleagues on the Fed's rate-setting committee will make decisions about monetary policy "based solely on careful, objective, and non-political analysis," the Fed added in its statement. The White House confirmed the Powell meeting, with press secretary Karoline Leavitt telling reporters that the Fed's summary was correct but noting that the president pushed Powell to lower rates. "The president did say that he believes the Fed chair is making a mistake by not lowering interest rates, which is putting us at an economic disadvantage to China and other countries," she said, adding Trump has been very vocal about his views publicly as well. Stocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment survey
CNBC
2 days ago
- Business
- CNBC
European stock markets set for a positive open amid U.S. tariff uncertainty
European stock markets are expected to open in positive territory on Friday. Futures contracts for the Stoxx Europe 600 index point to a 0.1% gain at the open. Meanwhile, the U.K.'s FTSE 100 , is set to open 0.2% higher, France's CAC 40 could add 0.1% and Germany's DAX is seen opening flat at the start of the trading day. In Italy, shares of Metriks AI will trade for the first time on the stock exchange under the ticker MTK. The company provides artificial intelligence and analytical services and services to its clients. — Ganesh Rao
Nahar Net
3 days ago
- Business
- Nahar Net
Markets welcome court ruling against Trump's tariffs as shares, US dollar and oil gain
by Naharnet Newsdesk 29 May 2025, 12:50 Financial markets welcomed a U.S. court ruling that blocks President Donald Trump from imposing sweeping tariffs on imports under an emergency-powers law. U.S. futures jumped early Thursday and oil prices rose more than $1. The U.S. dollar rose against the yen and euro. The court found the 1977 International Emergency Economic Powers Act, which Trump has cited as his basis for ordering massive increases in import duties, does not authorize the use of tariffs. The White House immediately appealed and it was unclear if Trump would abide by the ruling in the interim. The long term outcome of legal disputes over tariffs remains uncertain. But investors appeared to take heart after the months of turmoil brought on by Trump's trade war. The future for the S&P 500 was up 1.5% while that for the Dow Jones Industrial Average gained 1.2%. In early European trading, Germany's DAX gained 0.5% to 24,160.75. The CAC 40 in Paris jumped 0.9% to 7,860.67. Britain's FTSE was nearly unchanged at 8,722.63. Japan's Nikkei 225 index jumped 1.9% to 38,432.98. American's largest ally in Asia has been appealing to Trump to cancel the tariffs he has ordered on imports from Japan and to also stop 25% tariffs on steel, aluminum and autos. The ruling also pushed the dollar sharply higher against the Japanese yen. It was trading at 145.40 yen early Thursday, up from 144.87 yen late Wednesday. A three-judge panel ruled on several lawsuits arguing Trump exceeded his authority, casting doubt on trade policies that have jolted global financial markets, frustrated trade partners and raised uncertainty over the outlook for inflation and the global economy. Many of Trump's double-digit tariff hikes are paused for up to 90 days to allow time for trade negotiations, but the uncertainty they cast over global commerce has stymied businesses and left consumers wary about what lies ahead. "Just when traders thought they'd seen every twist in the tariff saga, the gavel dropped like a lightning bolt over the Pacific," Stephen Innes of SPI Asset Management said in a commentary. The ruling was, at the least, "a brief respite before the next thunderclap," he said. Elsewhere in Asia, Hong Kong's Hang Seng added 1.3% to 23,561.86, while the Shanghai Composite index gained 0.7% to 3,363.45. Australia's S&P/ASX 200 gained 0.2% to 8,409.80. In South Korea, which like Japan relies heavily on exports to the U.S., the Kospi surged 1.9% to 2,720.64. Shares also were helped by the Bank of Korea's decision to cut its key interest rate to 2.5% from 2.75%, to ease pressure on the economy. Taiwan's Taiex edged 0.1% lower, and India's Sensex lost 0.2%. On Wednesday, U.S. stocks cooled, with the S&P 500 down 0.6% but still within 4.2% of its record after charging higher amid hopes that the worst of the turmoil caused by Trump's trade war may have passed. It had been roughly 20% below the mark last month. The Dow industrials lost 0.6% and the Nasdaq composite fell 0.5%. Trading was relatively quiet ahead of a quarterly earnings release for Nvidia, which came after markets closed. The bellwether for artificial intelligence overcame a wave of tariff-driven turbulence to deliver another quarter of robust growth thanks to feverish demand for its high-powered chips that are making computers seem more human. Nvidia's shares jumped 6.6% in afterhours trading. Like Nvidia, Macy's stock also swung up and down through much of the day, even though it reported milder drops in revenue and profit for the latest quarter than analysts expected. Its stock ended the day down 0.3%. The bond market showed relatively little reaction after the Federal Reserve released the minutes from its latest meeting earlier this month, when it left its benchmark lending rate alone for the third straight time. The central bank has been holding off on cuts to interest rates, which would give the economy a boost, amid worries about inflation staying higher than hoped because of Trump's sweeping tariffs. In other dealings early Thursday, the yield on the 10-year Treasury rose to 4.52% from 4.47% late Wednesday. U.S. benchmark crude oil gained $1.06 to $62.90 per barrel. Brent crude, the international standard, added $1.00 to $65.32 per barrel. The euro slipped to $1.1280 from $1.1292.
