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Time of India
11 hours ago
- Business
- Time of India
Infosys, Wipro ADRs surge up to 3% as Wall Street major indices discount Israel-Iran tensions
As major indices on the Wall Street surged on Monday, the American Depository Receipts (ADRs) of India's frontline IT companies Infosys and Wipro rallied up to 3%. While the Infosys ADRs gained 2.2% to hit the day's high of $18.82, Wipro ADRs were up at $3.05, rising by 3%. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Elegant New Scooters For Seniors In 2024: The Prices May Surprise You Mobility Scooter | Search Ads Learn More Undo The mood remained upbeat with Dow 30 trading at 42,602.20, gaining 404.44 points or 0.96% around 9 pm India time, the S&P 500 was higher by 64.85 points or 1.08% at 6,041.82. The Nasdaq Composite was at 19,706.80, rising by 300.02 points or 1.55%. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. US stocks rose in early trade as calm returned on the Street after a volatile end to last week. The benchmark crude oil prices fell sharply, calming nerves on global Street. The US WTI futures were trading at $70.34 per bbl, falling by $2.64 or 3.62% while Brent Oil contracts on the COMEX were trading around $71.63 per bbl, correcting by $2.60 or 3.50%. Live Events Earlier today, the domestic IT pack led bulls' march helping India's heartbeat indices end their two sessions losing streak. While the BSE Sensex closed the session at 81,796.15, gaining by 677.55 points or 0.84% while the broader Nifty finished at 24,946.50, rising by 227.90 points or 0.92%. The Nifty IT index closed with gains of 1.6% with all 10 stocks closing in the green. Tier-2 stock Mphasis was the top gainer at 2.3% and was followed by Persistent Systems , Oracle Financial Services Software (OFSS) and Tech Mahindra which were up 2%, each. Others including Coforge , HCL Technologies , Tata Consultancy Services (TCS), Infosys, Wipro and LTI Mindtree gained between 1.9% and 0.5%. This was notwithstanding growing escalations between Israel and Iran. Despite the continued hostilities, markets are cautiously optimistic that the conflict might not spill over further, allowing oil prices to stabilise. Israel launched strikes on Iranian nuclear and military sites late last week, prompting a surge of over 7% in oil prices on Friday. Iran, a key oil producer under Western sanctions, responded with a new wave of missile attacks on Israel early Monday.
Economic Times
11 hours ago
- Business
- Economic Times
Infosys, Wipro ADRs surge up to 3% as Wall Street major indices discount Israel-Iran tensions
As major indices on the Wall Street surged on Monday, the American Depository Receipts (ADRs) of India's frontline IT companies Infosys and Wipro rallied up to 3%. ADVERTISEMENT While the Infosys ADRs gained 2.2% to hit the day's high of $18.82, Wipro ADRs were up at $3.05, rising by 3%. The mood remained upbeat with Dow 30 trading at 42,602.20, gaining 404.44 points or 0.96% around 9 pm India time, the S&P 500 was higher by 64.85 points or 1.08% at 6,041.82. The Nasdaq Composite was at 19,706.80, rising by 300.02 points or 1.55%. US stocks rose in early trade as calm returned on the Street after a volatile end to last week. The benchmark crude oil prices fell sharply, calming nerves on global US WTI futures were trading at $70.34 per bbl, falling by $2.64 or 3.62% while Brent Oil contracts on the COMEX were trading around $71.63 per bbl, correcting by $2.60 or 3.50%.Earlier today, the domestic IT pack led bulls' march helping India's heartbeat indices end their two sessions losing streak. While the BSE Sensex closed the session at 81,796.15, gaining by 677.55 points or 0.84% while the broader Nifty finished at 24,946.50, rising by 227.90 points or 0.92%. ADVERTISEMENT The Nifty IT index closed with gains of 1.6% with all 10 stocks closing in the green. Tier-2 stock Mphasis was the top gainer at 2.3% and was followed by Persistent Systems, Oracle Financial Services Software (OFSS) and Tech Mahindra which were up 2%, each. Others including Coforge, HCL Technologies, Tata Consultancy Services (TCS), Infosys, Wipro and LTI Mindtree gained between 1.9% and 0.5%. ADVERTISEMENT This was notwithstanding growing escalations between Israel and Iran. Despite the continued hostilities, markets are cautiously optimistic that the conflict might not spill over further, allowing oil prices to launched strikes on Iranian nuclear and military sites late last week, prompting a surge of over 7% in oil prices on Friday. Iran, a key oil producer under Western sanctions, responded with a new wave of missile attacks on Israel early Monday. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Yahoo
06-06-2025
- Business
- Yahoo
Stock Market Today: Market higher after jobs numbers; Tesla recoups a bit
Stock Market Today: Market higher after jobs numbers; Tesla recoups a bit originally appeared on TheStreet. In the first hour of trading stocks are sharply higher. At last check the Dow 30 were up 1.1%, the S&P 500 added 1.02%, the Nasdaq Composite tacked on 1.19% and the Russell 2000 moved up 1.23%. The stronger-than-expected jobs numbers are prompting the market move. The S&P has ticked up past 6000 for the first time since late February. Tesla shares rebounded a bit, 4.2% at last check, from the drubbing they took yesterday as the schism between CEO Elon Musk and President Donald Trump burst wider. Yesterday, the big news was that Best Buddies Elon Musk and President Trump had broken up. That sent markets into a topsy-turvy tailspin, knocking 14% off of Tesla's () share price. People seem surprised? But today is a new day and Trump and Musk are, or are not, scheduled to have a phone call following a cooling-off period overnight. Time will tell. The big news today is jobs! And the news is good for workers. The U.S. Bureau of Labor Statistics reported this morning that payroll employment increased by 139,000 in May, leaving the unemployment rate unchanged at 4.2%. This was better than expected, though it does show some softening over prior months' growth. Investors are cheering the news, with stock market futures rallying before the market open. S&P 500 futures are now up nearly 0.8% from yesterday's close and 0.4% since the release of this data. Gold and crude oil are both higher this morning, although each had a different reaction to the U.S. economic news. Crude oil rallied on economic strength, while gold initially spiked lower, then recouped. Do you know what's not doing as well? The bond market. U.S. treasuries are lower across the curve, sending yields, which move in the opposite direction of prices, higher. Why are investors selling bonds if the news was so good? The president and others have been calling for the Federal Reserve to lower interest rates. A strong economy suggests that those cuts may not be needed. Chairman Jerome Powell may choose to stay the course and any rate cuts could be pushed out toward year-end. Which stocks should you be watching today? Over on TheStreet Pro, Sarge Guilfoyle reports that Lululemon () and DocuSign () are getting pounded after their earnings reports highlighted poor guidance. Broadcom () provided stronger-than-expected guidance but is now trading around 3% lower. Here's a chart of Broadcom for the past five trading days, including after-hours action, shown in grey. Stock Market Today: Market higher after jobs numbers; Tesla recoups a bit first appeared on TheStreet on Jun 6, 2025 This story was originally reported by TheStreet on Jun 6, 2025, where it first appeared. 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
Economic Times
23-05-2025
- Business
- Economic Times
Apple shares fall 4% after Trump threatens to impose 25% tariff. Here's why
Live Events (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Apple share prices on Friday fell 4% to hit a low of $193.46 reacting to US President Donald Trump's threat that his government would impose a new 25% levy against the iPhone maker if the handsets sold in the US are made also ratcheted up the US trade war further saying that a 50% tariff on the European Union would also be slapped, lamenting that negotiations with the EU "are going nowhere,". Trump on Truth Social said that he is recommending "a straight 50% Tariff on the European Union, starting on June 1, 2025."The announcement sparked a sell-off on Wall Street with Dow 30 declining by 0.94% or 391.47 points to 41,467.60 in the initial trade. S&P 500 also fell by 64.68 points and 1.11% around 10:15 AM ET and traded at 5,777.33. Nasdaq Composite was the worst hit at 18,663.90, falling by 261.83 points or 1.38%.Other major stocks like Microsoft Corporation, NVIDIA Corporation, Amazon, Alphabet and Meta were also down by up to 2%.If the new duties come into effect, they would dramatically hike the current US baseline levy of 10 percent, and raise economic tensions between the world's biggest economy and its largest trading bloc, a Reuters report a separate message, the president said Apple had failed to move iPhone production to the United States despite his repeated requests, and he threatened new duties of "at least" 25 percent if they did not VIX volatility index, known as Wall Street's "fear gauge," was up 18.5 % at around 9:30 am local time in New had to pause reciprocal tariffs on April 9, following a week into its implementation on April 2 which he referred to as the 'Liberation Day'. Prior to this, he had imposed a 25% tariff of steel and aluminium Trump administration is in discussions with more than a dozen governments, including the European Union, in an effort to forge trade agreements before global tariffs are reinstated in early May 12, both the US and China arrived at an agreement on tariffs and paused tit-for-tat tariffs for 90 this, some foreign officials have expressed concern that the US has not clearly outlined its demands, making them reluctant to offer major concessions amid fears that President Trump could reimpose tariffs unpredictably.
Time of India
23-05-2025
- Business
- Time of India
Apple shares fall 4% after Trump threatens to impose 25% tariff. Here's why
Apple share prices on Friday fell 4% to hit a low of $193.46 reacting to US President Donald Trump's threat that his government would impose a new 25% levy against the iPhone maker if the handsets sold in the US are made elsewhere. Trump also ratcheted up the US trade war further saying that a 50% tariff on the European Union would also be slapped, lamenting that negotiations with the EU "are going nowhere,". Trump on Truth Social said that he is recommending "a straight 50% Tariff on the European Union, starting on June 1, 2025." by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Secure Your Child's Future with Strong English Fluency Planet Spark Learn More Undo The announcement sparked a sell-off on Wall Street with Dow 30 declining by 0.94% or 391.47 points to 41,467.60 in the initial trade. S&P 500 also fell by 64.68 points and 1.11% around 10:15 AM ET and traded at 5,777.33. Nasdaq Composite was the worst hit at 18,663.90, falling by 261.83 points or 1.38%. Other major stocks like Microsoft Corporation, NVIDIA Corporation, Amazon, Alphabet and Meta were also down by up to 2%. If the new duties come into effect, they would dramatically hike the current US baseline levy of 10 percent, and raise economic tensions between the world's biggest economy and its largest trading bloc, a Reuters report said. Live Events In a separate message, the president said Apple had failed to move iPhone production to the United States despite his repeated requests, and he threatened new duties of "at least" 25 percent if they did not comply. The VIX volatility index, known as Wall Street's "fear gauge," was up 18.5 % at around 9:30 am local time in New York. Trump had to pause reciprocal tariffs on April 9, following a week into its implementation on April 2 which he referred to as the 'Liberation Day'. Prior to this, he had imposed a 25% tariff of steel and aluminium imports. The Trump administration is in discussions with more than a dozen governments, including the European Union, in an effort to forge trade agreements before global tariffs are reinstated in early July. On May 12, both the US and China arrived at an agreement on tariffs and paused tit-for-tat tariffs for 90 days. Notwithstanding this, some foreign officials have expressed concern that the US has not clearly outlined its demands, making them reluctant to offer major concessions amid fears that President Trump could reimpose tariffs unpredictably.
