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News18
4 days ago
- Business
- News18
World shares retreat after Alphabet, AI stocks nudge Wall Street to more records
Manila (Philippines), Jul 25 (AP) World shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. In early European trading, Germany's DAX shed 0.6 per cent to 24,152.20, while Britain's FTSE 100 slid 0.4 per cent to 9,101.41. In Paris, the CAC 40 slipped 0.3 per cent to 7,793.33. The futures for the S&P 500 and the Dow Jones Industrial Average were both up 0.1 per cent. In Asian trading, Japan's Nikkei 225 fell 0.9 per cent to 41,456.23 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15 per cent tax on imports from Japan. That's lower than the 25 per cent rate that Trump had earlier said would kick in on August 1. Data released on Friday showed the inflation rate in Japan's capital, Tokyo, rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction," ING Economics said. In South Korea, the Kospi picked up 0.2 per cent to 3,196.05, while Australia's S&P/ASX 200 shed 0.5 per cent to 8,666.90. Taiwan's Taiex edged less than 0.1 per cent lower, and in India, the Sensex fell 0.9 per cent. On Thursday, the S&P 500 added 0.1 per cent to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7 per cent to 44,693.91, while the Nasdaq composite rose 0.2 per cent to a record 21,057.96. Alphabet climbed 1 per cent after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by USD 10 billion to USD 85 billion. That helped push up other stocks in the AI industry, including a 1.7 per cent rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2 per cent drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the US". Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, US benchmark crude oil added 21 cents to USD 66.24 per barrel. Brent crude, the international standard, rose 18 cents to USD 68.54 per barrel. The US dollar rose to 147.88 Japanese yen from 147.00 yen. The euro fell to USD 1.1736 from USD 1.1750. (AP) SKS GRS GRS view comments First Published: July 25, 2025, 15:30 IST Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
CTV News
4 days ago
- Business
- CTV News
World shares retreat after Alphabet and AI stocks nudge Wall Street to more records
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, July 25, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) MANILA, Philippines — World shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. In early European trading, Germany's DAX shed 0.6% to 24,152.20, while Britain's FTSE 100 slid 0.4% to 9,101.41. In Paris, the CAC 40 slipped 0.3% to 7,793.33. The futures for S&P 500 and the Dow Jones Industrial Average both were up 0.1% In Asian trading, Japan's Nikkei 225 fell 0.9% to 41,456.23 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15% tax on imports from Japan. That's lower than the 25% rate that Trump had earlier said would kick in on Aug. 1. Data released on Friday showed the inflation rate in Japan's capital Tokyo rose 2.9% year-on-year in July, down from 3.1% in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In Chinese markets, Hong Kong's Hang Seng lost 1.1% to 25,388.35 and the Shanghai Composite index slid 0.3% to 3,593.66. Next week, U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Stockholm, Sweden, to work toward a trade deal with Beijing ahead of an Aug. 12 deadline. Trump has said a China trip 'is not too distant' as trade tensions ease. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction,' ING Economics said. In South Korea, the Kospi picked up 0.2% to 3,196.05, while Australia's S&P/ASX 200 shed 0.5% to 8,666.90. Taiwan's Taiex edged less than 0.1% lower, and in India, the Sensex fell 0.9%. On Thursday, the S&P 500 added 0.1% to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7% to 44,693.91, while the Nasdaq composite rose 0.2% to a record 21,057.96. Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by US$10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2% drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, U.S. benchmark crude oil added 21 cents to $66.24 per barrel. Brent crude, the international standard, rose 18 cents to $68.54 per barrel. The U.S. dollar rose to 147.88 Japanese yen from 147.00 yen. The euro fell to $1.1736 from $1.1750. Teresa Cerojano, The Associated Press
Japan Today
4 days ago
- Business
- Japan Today
Asian shares retreat after Alphabet and AI stocks nudge Wall Street to more records
People walk in front of an electronic stock board showing Japan's Nikkei index at a securities firm Friday, July 25, 2025, in Tokyo. (AP Photo/Eugene Hoshiko) By TERESA CEROJANO Asian shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. Japan's Nikkei 225 fell 0.9% to 41,456.23 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15% tax on imports from Japan. That's lower than the 25% rate that Trump had earlier said would kick in on Aug. 1. Data released on Friday showed the inflation rate in Japan's capital Tokyo rose 2.9% year-on-year in July, down from 3.1% in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1% to 25,381.85 and the Shanghai Composite index slid 0.4% to 3,591.79. Next week, U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Stockholm, Sweden, to work toward a deal with Beijing ahead of a tariff truce that expires on Aug. 12. Trump has said a China trip 'is not too distant' as trade tensions ease. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction,' ING Economics said. In South Korea, the Kospi picked up 0.2% to 3,196.05, while Australia's S&P/ASX 200 shed 0.5% to 8,666.90. Taiwan's Taiex edged less than 0.1% lower, and in India, the Sensex fell 0.8%. On Thursday, the S&P 500 added 0.1% to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7% to 44,693.91, while the Nasdaq composite rose 0.2% to a record 21,057.96. Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by $10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2% drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, U.S. benchmark crude oil added 51 cents to $66.54 per barrel. Brent crude, the international standard, rose 48 cents to $68.84 per barrel. The U.S. dollar was nearly unchanged at 147.01 Japanese yen. The euro rose to $1.1759 from $1.1748. © Copyright 2025 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Mint
4 days ago
- Business
- Mint
Asian shares retreat after Alphabet, AI stocks nudge Wall Street to more records
Manila, Jul 25 (AP) Asian shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. Japan's Nikkei 225 fell 0.7 per cent to 41,511.09 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15 per cent tax on imports from Japan. That's lower than the 25 per cent rate that Trump had earlier said would kick in on August 1. Data released on Friday showed the inflation rate in Japan's capital Tokyo rose 2.9 per cent year-on-year in July, down from 3.1 per cent in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1 per cent to 25,383.07 and the Shanghai Composite index slid 0.3 per cent to 3,593.38. On Thursday, China and the European Union issued a joint call to action on climate change during an otherwise tense bilateral summit in Beijing riven with major disagreements over trade and the war in Ukraine. Next week, US Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Stockholm, Sweden, to work toward a deal with Beijing ahead of a tariff truce that expires on August 12. Trump has said a China trip 'is not too distant' as trade tensions ease. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction,' ING Economics said. In South Korea, the Kospi picked up 0.3 per cent to 3,199.91, while Australia's S&P/ASX 200 shed 0.4 per cent to 8,673.80. Taiwan's Taiex dropped 0.1 per cent and in India, the Sensex fell 0.1 per cent. On Thursday, the S&P 500 added 0.1 per cent to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7 per cent to 44,693.91, while the Nasdaq composite rose 0.2 per cent to a record 21,057.96. Alphabet climbed 1 per cent after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by USD 10 billion to USD 85 billion. That helped push up other stocks in the AI industry, including a 1.7 per cent rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2 per cent drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the US.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, US benchmark crude oil added 13 cents to USD 66.16 per barrel. Brent crude, the international standard, rose 12 cents to USD 68.48 per barrel. The US dollar edged higher to 147.21 Japanese yen from 147.00. The euro fell to USD 1.1737 from USD 1.1748. (AP) GRS GRS
4 days ago
- Business
Asian shares retreat after Alphabet and AI stocks nudge Wall Street to more records
MANILA, Philippines -- Asian shares retreated on Friday after Wall Street inched to more records as gains for Alphabet and artificial-intelligence stocks helped offset a steep tumble for EV-maker Tesla. Japan's Nikkei 225 fell 0.7% to 41,511.09 after two days of gains following President Donald Trump's announcement of a trade deal that would place a 15% tax on imports from Japan. That's lower than the 25% rate that Trump had earlier said would kick in on Aug. 1. Data released on Friday showed the inflation rate in Japan's capital Tokyo rose 2.9% year-on-year in July, down from 3.1% in June. Japanese government efforts to moderate inflation are working, though underlying Tokyo price pressures remain elevated, ING Economics said in a commentary. It expects the Bank of Japan to hold interest rates steady at its July 30-31 meeting, but said the central bank would likely raise its forecast for inflation. In the Chinese markets, Hong Kong's Hang Seng shed 1.1% to 25,383.07 and the Shanghai Composite index slid 0.3% to 3,593.38. On Thursday, China and the European Union issued a joint call to action on climate change during an otherwise tense bilateral summit in Beijing riven with major disagreements over trade and the war in Ukraine. Next week, U.S. Treasury Secretary Scott Bessent has said he will meet with Chinese officials in Stockholm, Sweden, to work toward a deal with Beijing ahead of a tariff truce that expires on Aug. 12. Trump has said a China trip 'is not too distant' as trade tensions ease. 'One big question for markets is whether the tariff ceasefire is extended. We expect that an agreement will be attainable, but, in the interim, markets will watch closely to see if there are adjustments to current tariff rates in either direction,' ING Economics said. In South Korea, the Kospi picked up 0.3% to 3,199.91, while Australia's S&P/ASX 200 shed 0.4% to 8,673.80. Taiwan's Taiex dropped 0.1% and in India, the Sensex fell 0.1%. On Thursday, the S&P 500 added 0.1% to its all-time high set the day before, closing at 6,363.35. The Dow Jones Industrial Average fell 0.7% to 44,693.91, while the Nasdaq composite rose 0.2% to a record 21,057.96. Alphabet climbed 1% after the company behind Google and YouTube delivered a fatter profit for the latest quarter than analysts expected. It's leaning more into artificial-intelligence technology and said it's increasing its budget for AI chips and other investments this year by $10 billion to $85 billion. That helped push up other stocks in the AI industry, including a 1.7% rise for Nvidia. The chip company was the strongest single force lifting the S&P 500 because it's the largest on Wall Street in terms of value. But an 8.2% drop for Tesla kept the market in check. Elon Musk's electric-vehicle company reported results for the spring that were roughly in line with or above analysts' expectations, and Musk is trying to highlight Tesla's moves into AI and robotaxis. The focus, though, remains on how Musk's foray into politics is turning off potential customers, and he said several rough quarters may be ahead as 'we're in this weird transition period where we'll lose a lot of incentives in the U.S.' Stocks have broadly been rallying for weeks on hopes that President Donald Trump will reach trade deals with other countries that will lower his stiff proposed tariffs, along with the risk that they could cause a recession and drive up inflation. In other dealings on Friday, U.S. benchmark crude oil added 13 cents to $66.16 per barrel. Brent crude, the international standard, rose 12 cents to $68.48 per barrel. The U.S. dollar edged higher to 147.21 Japanese yen from 147.00. The euro fell to $1.1737 from $1.1748. ___
