Latest news with #DowJonesIndustrialIndex
Business Insider
3 days ago
- Business
- Business Insider
UnitedHealth suspends outlook, Under Armour reports Q4 beat; Morning Buzz
The S&P 500 was higher near noon amid renewed optimism over a temporary trade agreement between the U.S. and China. The Dow Jones Industrial Index was the only major index in the red, as it was dragged down by UnitedHealth after news of a CEO change and a suspension of guidance amid rising medical costs. Protect Your Portfolio Against Market Uncertainty Discover companies with rock-solid fundamentals in TipRanks' Smart Value Newsletter. Receive undervalued stocks, resilient to market uncertainty, delivered straight to your inbox. Looking to commodities, the price of gold was fractionally higher, rebounding somewhat from recent losses. Oil prices were sharply higher again, continuing the commodity's recent rally after a dismal April. Get caught up quickly on the top news and calls moving stocks with these five Top Five lists. 1. STOCK NEWS: 2. WALL STREET CALLS: Peloton (PTON) upgraded at Macquarie, here's why Monness Crespi upgraded Coinbase (COIN) with Q2 guidance looking 'conservative' Caterpillar (CAT) upgraded to Outperform from Neutral at Baird Barclays double downgraded Enphase Energy (ENPH) to Underweight from Overweight while the stock was also downgraded to Underperform at BNP Paribas Exane and BMO Capital Halozyme (HALO) and J&J (JNJ) had their ratings cut following CMS draft guidance 3. AROUND THE WEB: 5. EARNINGS/GUIDANCE: Honda (HMC) reported FY25 results and provided guidance for FY26 Y-mAbs (YMAB) reported Q1 results, with EPS and revenue beating consensus Bayer (BAYRY) reported Q1 results and confirmed its outlook for 2025 Tencent Music (TME) reported Q1 results, with Executive Chairman Cussion Pang commenting, 'Our strong first-quarter performance… underscores the successful execution of our high-quality growth strategy' (JD) reported Q1 results, with CEO Sandy Xu commenting, 'We saw a strong start to the year' INDEXES: Near midday, the Dow was down 0.36%, or 152.95, to 42,257.15, the Nasdaq was up 1.56%, or 292.34, to 19,000.69, and the S&P 500 was up 0.81%, or 47.09, to 5,891.28.
Business Mayor
6 days ago
- Business
- Business Mayor
CNBC Daily Open: Trump's proposed EU tariffs didn't seem to worry investors much
U.S. President Donald Trump handles a cellphone after it rang while he was speaking on the day he signs an executive order at the White House in Washington, D.C., U.S., May 23, 2025. Kent Nishimura | Reuters If U.S. President Donald Trump follows up on his threat of 50% tariffs on the European Union, he'd be imposing higher duties on America's ally compared with the 30% on China currently. But on Sunday, Trump said he would delay tariffs on EU to July 9 from June 1 following a call with European Commission President Ursula von der Leyen. Indeed, when news of the tariffs first broke, analysts weren't convinced Trump's statement held much weight. For one, the U.S. President used the word 'recommendation' — a proposal rather than a clear directive. Trump has also walked back on more than one occasion with regard to import duties: pausing the 'reciprocal' tariffs and lowering trade barriers with China, albeit both on a temporary basis. Major U.S. and European stock indexes did not have a sharp reaction compared with Trump's initial announcement of tariffs on April 2, signaling that investors are beginning to take tariff-related announcements with a pinch of salt. The proposal of 50% tariff on the EU is primarily a 'negotiating tactic,' Barclays wrote in a Friday note. Still, markets dropped on the week — the S&P 500, Dow Jones Industrial Index and Nasdaq Composite lost more than 2% during that period — as Treasury yields jumped. The sell-off in Treasurys came on the back of Trump's tax bill, which is estimated to add $2.3 trillion to the federal deficit. So, while investors appear to be coming to terms with Trump's tariffs proclamations, there's much more in the president's arsenal to keep markets jittery. What you need to know today Trump recommends 50% tariffs on EU U.S. President Donald Trump said Sunday he will delay 50% tariffs on the European Union until July 9, days after 'recommending' them to kick in from June 1. Trade freight experts said that such tariffs could 'backfire' on the U.S. and make manufacturing more expensive. The White House did not interpret the president's post as a formal statement of policy, CNBC's Eamon Javers reported. U.S. markets dropped — slightly U.S. stocks dropped Friday on Trump's tariff threats. The S&P 500 retreated 0.67%, the Dow Jones Industrial Average lost 0.61% and the Nasdaq Composite slid 1%. Those moves, however, are much smaller than the plunges of more than 4% on April 4, after Trump announced his 'reciprocal tariffs.' Asia-Pacific markets were mixed Monday. At 2 p.m. Singapore time, Japan's Nikkei 225 was up nearly 1% as shares of Nippon Steel added 2.2% following news that Trump had approved a merger between the company and U.S. Steel . Staying ahead despite export curbs Stockpiling chips, making artificial intelligence models more efficient and using homegrown semiconductors — those are some strategies Chinese technology companies Tencent and Baidu are using to keep up in the global AI race even as the U.S. tightens exports of crucial chips. Nvidia CEO Jensen Huang on Wednesday called the curbs a 'failure,' saying they are doing more damage to American businesses than to China. Xiaomi's car challenges Tesla's Less than a year after launching its first electric car, Xiaomi revealed its YU7 SUV late on Thursday. The company claimed it would have a driving range of at least 760 kilometers (472 miles) on a single charge, taking aim at the Tesla's extended-range Model Y, which advertises a range of 719 km. 'We expect Yu7 would significantly erode Tesla Model-Y's China market share,' Citi analyst Jeff Chung said in a report Sunday. [PRO] Nvidia earnings to determine markets Nvidia announces first-quarter earnings this week. The Wednesday event — alongside comments Trump seemingly shoots from the hip — will determine investor sentiment of markets for the week. Keep an eye out also for the U.S. personal consumption expenditures index for April for signs of how tariffs are affecting the prices households pay for goods and services. And finally… The cargo yard of the Qianwan United Container Terminal of Qingdao Port in Qingdao City, Shandong Province, China. Nurphoto | Getty Images Businesses are finding a workaround for tariffs — and it's entirely legal A decades-old piece of U.S. legislation known as the 'first sale rule' allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties. For instance, a Chinese manufacturer sells a T-shirt to a Hong Kong vendor for $5. That Hong Kong vendor sells it to a U.S. retailer for $10. That U.S. retailer then sells the T-shirt to consumers for $40. Under the first sale rule, the U.S. retailer can pay the import duty on the initial $5 price of the good, rather than the vendor's inflated $10, thus stripping out the cost associated with the middleman's profit. Companies appear to be leveraging that customs law. While the first sale rule is broadly applicable across products and industries, it is considered particularly useful in higher-value consumer goods and luxury products, where margins are greater.
CNBC
6 days ago
- Business
- CNBC
CNBC Daily Open: Trump's proposed EU tariffs didn't seem to worry investors much
If U.S. President Donald Trump follows up on his threat of 50% tariffs on the European Union, he'd be imposing higher duties on America's ally compared with the 30% on China currently. But on Sunday, Trump said he would delay tariffs on EU to July 9 from June 1 following a call with European Commission President Ursula von der Leyen. Indeed, when news of the tariffs first broke, analysts weren't convinced Trump's statement held much weight. For one, the U.S. President used the word "recommendation" — a proposal rather than a clear directive. Trump has also walked back on more than one occasion with regard to import duties: pausing the "reciprocal" tariffs and lowering trade barriers with China, albeit both on a temporary basis. Major U.S. and European stock indexes did not have a sharp reaction compared with Trump's initial announcement of tariffs on April 2, signaling that investors are beginning to take tariff-related announcements with a pinch of salt. The proposal of 50% tariff on the EU is primarily a "negotiating tactic," Barclays wrote in a Friday note. Still, markets dropped on the week — the S&P 500, Dow Jones Industrial Index and Nasdaq Composite lost more than 2% during that period — as Treasury yields jumped. The sell-off in Treasurys came on the back of Trump's tax bill, which is estimated to add $2.3 trillion to the federal deficit. So, while investors appear to be coming to terms with Trump's tariffs proclamations, there's much more in the president's arsenal to keep markets jittery. Trump recommends 50% tariffs on EUU.S. President Donald Trump said Sunday he will delay 50% tariffs on the European Union until July 9, days after "recommending" them to kick in from June 1. Trade freight experts said that such tariffs could "backfire" on the U.S. and make manufacturing more expensive. The White House did not interpret the president's post as a formal statement of policy, CNBC's Eamon Javers reported. U.S. markets dropped — slightly U.S. stocks dropped Friday on Trump's tariff threats. The S&P 500 retreated 0.67%, the Dow Jones Industrial Average lost 0.61% and the Nasdaq Composite slid 1%. Those moves, however, are much smaller than the plunges of more than 4% on April 4, after Trump announced his "reciprocal tariffs." Asia-Pacific markets were mixed Monday. At 2 p.m. Singapore time, Japan's Nikkei 225 was up nearly 1% as shares of Nippon Steel added 2.2% following news that Trump had approved a merger between the company and U.S. Steel. Staying ahead despite export curbsStockpiling chips, making artificial intelligence models more efficient and using homegrown semiconductors — those are some strategies Chinese technology companies Tencent and Baidu are using to keep up in the global AI race even as the U.S. tightens exports of crucial chips. Nvidia CEO Jensen Huang on Wednesday called the curbs a "failure," saying they are doing more damage to American businesses than to China. Xiaomi's car challenges Tesla'sLess than a year after launching its first electric car, Xiaomi revealed its YU7 SUV late on Thursday. The company claimed it would have a driving range of at least 760 kilometers (472 miles) on a single charge, taking aim at the Tesla's extended-range Model Y, which advertises a range of 719 km. "We expect Yu7 would significantly erode Tesla Model-Y's China market share," Citi analyst Jeff Chung said in a report Sunday. [PRO] Nvidia earnings to determine marketsNvidia announces first-quarter earnings this week. The Wednesday event — alongside comments Trump seemingly shoots from the hip — will determine investor sentiment of markets for the week. Keep an eye out also for the U.S. personal consumption expenditures index for April for signs of how tariffs are affecting the prices households pay for goods and services. Businesses are finding a workaround for tariffs — and it's entirely legal A decades-old piece of U.S. legislation known as the "first sale rule" allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties. For instance, a Chinese manufacturer sells a T-shirt to a Hong Kong vendor for $5. That Hong Kong vendor sells it to a U.S. retailer for $10. That U.S. retailer then sells the T-shirt to consumers for $40. Under the first sale rule, the U.S. retailer can pay the import duty on the initial $5 price of the good, rather than the vendor's inflated $10, thus stripping out the cost associated with the middleman's profit. Companies appear to be leveraging that customs law. While the first sale rule is broadly applicable across products and industries, it is considered particularly useful in higher-value consumer goods and luxury products, where margins are greater.
CNBC
6 days ago
- Business
- CNBC
CNBC Daily Open: Investors don't feel as threatened by Trump's tariffs
If U.S. President Donald Trump follows up on his threat of 50% tariffs on the European Union, he'd be imposing higher duties on America's ally compared with the 30% it imposes on China currently. But on Sunday, Trump said he would delay tariffs on EU to July 9 from June 1 following a call with European Commission President Ursula von der Leyen. Indeed, when news of the tariffs first broke, analysts weren't convinced Trump's statement held much weight. For one, the U.S. President used the word "recommendation" — a proposal rather than a declaration of intent. Trump has also walked back on more than one occasion with regard to import duties: pausing the "reciprocal" tariffs and lowering trade barriers with China, albeit both on a temporary basis. Major U.S. and European stock indexes did not have a sharp reaction compared with Trump's initial announcement of tariffs on April 2, signaling that investors are beginning to take tariff-related announcements with a pinch of salt. The proposal of 50% tariff on the EU is primarily a "negotiating tactic," Barclays wrote in a Friday note. Still, markets dropped on the week — the S&P 500, Dow Jones Industrial Index and Nasdaq Composite lost more than 2% during that period — as Treasury yields jumped. The sell-off in Treasurys came on the back of Trump's tax bill, which is estimated to add $2.3 trillion to the federal deficit. So, while investors appear to be coming to terms with Trump's tariffs proclamations, there's much more in the president's arsenal to keep markets jittery. Trump recommends 50% tariffs on EUU.S. President Donald Trump said Sunday he will delay 50% tariffs on the European Union until July 9, days after "recommending" them to kick in from June 1. Trade freight experts said that such tariffs could "backfire" on the U.S. and make manufacturing more expensive. The White House did not interpret the president's post as a formal statement of policy, CNBC's Eamon Javers reported. Markets dropped — slightly U.S. stocks dropped Friday on Trump's tariff threats. The S&P 500 retreated 0.67%, the Dow Jones Industrial Average lost 0.61% and the Nasdaq Composite slid 1%. Those moves, however, are much smaller than the plunges of more than 4% on April 4, after Trump announced his "reciprocal tariffs." Similarly, Europe's Stoxx 600 index fell 0.93%, milder than it did after Trump's Liberation Day." Apple to pay 25% tariff: TrumpTrump said in a social media post Friday that Apple will have to pay a tariff of 25% or more for iPhones made outside the U.S. Wall Street analysts estimate that moving iPhone production to the U.S. would make the smartphone at least 25% more expensive. However, analysts said it would probably make more sense for Apple to eat the cost rather than move production stateside. U.S. Steel and Nippon Steel mergerOn Friday, Trump cleared the merger of U.S. Steel and Nippon Steel, saying in a post on Truth Social that the deal will "create at least 70,000 jobs, and add $14 Billion Dollars to the U.S. Economy." Former U.S. President Joe Biden blocked Nippon Steel from purchasing U.S. Steel for $14.9 billion in January, citing national security concerns. Shares of U.S. Steel surged 21.2% on the news. [PRO] Nvidia earnings to determine marketsNvidia announces first-quarter earnings this week. The Wednesday event — alongside comments Trump seemingly shoots from the hip — will determine investor sentiment of markets for the week. Keep an eye out also for the U.S. personal consumption expenditure index for April for signs of how tariffs are affecting the prices households pay for goods and services. Companies turn to AI to navigate Trump tariff turbulence Several tech firms told CNBC say they're deploying artificial intelligence to visualize businesses' global supply chains — from the materials that are used to form products, to where those goods are being shipped from — and understand how they're affected by Trump's reciprocal tariffs. Last week, Salesforce said it had developed a new import specialist AI agent that can "instantly process changes for all 20,000 product categories in the U.S. customs system and then take action on them" as needed, to help navigate changes to tariff systems. Uncertainty from the U.S. tariff measures "actually probably presents AI's moment to shine," Zack Kass, a futurist and former head of OpenAI's go-to-market strategy, told CNBC's Silvia Amaro at the Ambrosetti Forum in Italy last month.
USA Today
08-04-2025
- Politics
- USA Today
Despite controversies, Dodgers say visiting Trump White House 'a really good experience'
Despite controversies, Dodgers say visiting Trump White House 'a really good experience' Show Caption Hide Caption World Series champions LA Dodgers visit White House The Los Angeles Dodgers visited the White House to celebrate their 2024 World Series win against the New York Yankees. WASHINGTON — Winning the World Series and earning the celebratory trip to the White House to see the president still isn't getting old for the Los Angeles Dodgers, even as they've won two championships in the past five years. Manager Dave Roberts, for instance, particularly enjoyed his first peek at the Oval Office, which Dodgers players and staff rolled through, single file, after getting feted by President Donald Trump. "I actually got a chance to take a photo in front of the Declaration of Independence," Roberts said Monday of the national treasure hanging in the Oval Office. "For myself, who's a History major, that's a picture I'm going to cherish for a long time." History, such as it is these days, was wedged into virtually every minute before and after the Dodgers were toasted in the East Room. With Trump holding steady on controversial tariffs that have roiled global markets, the Dow Jones Industrial Index was down 709 points, or nearly 2%, as the Dodgers' ceremony concluded around noon. About an hour after regaling the Dodgers, Trump took a meeting with Israeli Prime Minister Benjamin Netanyahu, to talk both tariffs and, as Trump put it, the significant "help" afforded the ally in its war in Gaza. And as the Dodgers got ready to stretch and warm up for their Monday night game at Nationals Park, the Supreme Court sided with Trump lawyers and placed on hold a judge's order that the Trump administration must bring back to the United States a Maryland father it had mistakenly deported to El Salvador. Unprecedented times, indeed. Trump and his administration's part in policies that a significant portion of the Dodgers fan base finds odious – and even resulted in the scrubbing of Dodgers trailblazer Jackie Robinson's accomplishments from a government web site – made this trip a loaded proposition. Yet unlike 2019, when current Dodgers superstar Mookie Betts and roughly half the 2018 champion Boston Red Sox skipped a trip to Trump's White House, the Dodgers – save injured star Freddie Freeman – were all present and accounted for. Even those who had chafed against Trump in the past. "They don't agree with the decision to go," says Dodgers playoff hero Kiké Hernández of disillusioned fans, "but they have the right to have an opinion." Hernández had criticized Trump after his treatment of Puerto Rico in his first term. He was among the handful of Dodgers Trump made a point to depart the dais and shake hands during the 25-minute ceremony. So, too, was Betts, whom Trump lauded for his ability; the president seemed to hold that handshake a beat longer than those with Hernández, Max Muncy and, of course, the great Shohei Ohtani. "A nice touch," says Betts. "He kind of recognized a lot of us in that situation and I think it kind of shows it wasn't just one man that won that 2024 World Series. It was a collective unit." Betts on Friday confirmed his attendance on the White House trip and told reporters then he was in a no-win situation that "comes with the territory, being Black in America in a situation like this. It's a tough spot to be in. No matter what I choose, somebody is gonna be pissed." Monday, he stressed the solidarity with teammates. "As long as I'm there with the boys and they're with me, no matter where we are, we have to celebrate this accomplishment. It was good," says Betts. "These are the stories we'll get to tell when we're done playing. Years from now we'll call each other, see each other and talk about this. "These are essentially the people we kind of do life with. You definitely have to be there with them and have fun with them no matter where you are." Trump certainly lapped it up, laying out details of the Dodgers' playoff run while interspersing his freestyle comments in between, often remarking on being surrounded by such physical talent. "These are the best-looking people I've ever seen," he said after shaking Clayton Kershaw's hand. Kershaw, the future Hall of Famer, was tasked with reading prepared comments on behalf of the players, a slightly awkward spot for him since injuries prevented him from pitching in the playoff drive. Freeman, their Game 1 grand slam hero, was the intended speaker, but he was back in California rehabbing his ankle injury, so it was left to the franchise scion. "I know there's been a lot of stuff about should the Dodgers go and all this stuff," Kershaw said Monday afternoon. "But at the end of the day, getting to go to the White House, getting to see the Oval Office, getting to meet the President of the United States, that's stuff that you can't lose sight of, no matter what you believe. "I was super honored to get to go today. It was an incredible opportunity and I'm glad we got to be a part of it." By evening, the Dodgers were back to the business of baseball, even if they and their owners might've been lighter in the pocket with the stock market's wild roller-coaster ride. History, as Roberts well knows, will render a verdict on this swath of time. With that in mind, was an Oval Office trip worth it? "Coming out of it I think we all felt really good about it," Roberts said. "We wanted to go there to again recognize our '24 team. There's a lot of people in our organization that were there that have different backgrounds, different races, genders and all that stuff, and we were all there. "I thought it was a really good experience."
