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Business Standard
12 hours ago
- Business
- Business Standard
Wall Street Surges as Inflation Data Boosts Rate-Cut Hopes
U.S. stocks rallied with the Nasdaq, S&P 500, and Dow posting strong gains. Inflation data met expectations, fueling hopes of a Fed rate cut while airline and semiconductor stocks led sector advances. The Nasdaq surged 296.50 points (1.4%) to 21,681.90, the S&P 500 jumped 72.31 points (1.1%) to 6,445.76 and the Dow shot up 483.52 points (1.1%) to 44,458.61. Wall Street rose after Julys inflation report showed the CPI up 0.2%, matching forecasts. Annual inflation stayed at 2.7% instead of the expected 2.8%. Core CPI rose 0.3%, also in line with estimates. Core inflations annual rate hit 3.1%, above the 3% forecast. Traders now see a 94.4% chance of a Fed rate cut in September, despite the higher core number. Airline stocks substantial moved upwards, with the NYSE Arca Airline Index soaring by 9.3% to its best closing level in five months. Semiconductor stocks were significantly strong , as reflected by the 3.0% surge by the Philadelphia Semiconductor Index. Steel, housing, banking and computer hardware stocks too were considerably strong , moving higher along with most of the other major sectors. Asia-Pacific stocks moved mostly higher. Japan's Nikkei 225 Index surged by 2.2% while China's Shanghai Composite Index climbed by 0.5%. The major European markets turned in another mixed performance on the day. While the German DAX Index dipped by 0.2%, the U.K.'s FTSE 100 Index crept up by 0.2% and the French CAC 40 Index advanced by 0.7%.
Business Standard
04-08-2025
- Business
- Business Standard
Global Markets Tumble Amid Tariff Shock, Weak Jobs Data, and Sector-Wide Sell-Off
Wall Street plunged as new U.S. tariffs and dismal job growth triggered investor panic, with tech, airlines and oil services hit hardest; global markets followed suit. The Nasdaq plunged 472.32 points (2.2%) to 47,231.61, the S&P 500 tumbled 101.38 points (1.6%) to 6,238.01 and the Dow slumped 542.40 points (1.2%) to 43,588.58. Wall Street saw a sharp sell-off as investors reacted to the economic implications of President Trump's newly announced tariffs which range from 10% to 41%. A 40% tariff will target goods transshipped to dodge existing duties, surprising markets that expected a delay. Russ Mould of AJ Bell noted that investors now face the challenge of reassessing company impacts. The mood worsened following a disappointing Labor Department report showing weaker-than-expected job growth in July. Combined, these factors fueled uncertainty and risk aversion. The Labor Department reported that non-farm payrolls rose by just 73,000 in July, falling short of the 110,000 jobs expected by economists. Job growth for May and June was also revised downward by a combined 258,000 jobs. May saw only a 19,000-job increase while June added just 14,000. Meanwhile, the unemployment rate edged up to 4.2% in July, in line with forecasts. Amazons (AMZN) shares dropped steeply by 8.3% after reporting better than expected second quarter results but providing disappointing operating income guidance for the current quarter. Airline stocks turned in some of the market's worst performances, with the NYSE Arca Airline Index plummeting by 4.3%. oil service stocks were substantially weak amid a steep drop by the price of crude, as reflected by the 3.5% plunge by the Philadelphia Oil Service Index. Computer hardware, retail and banking stocks too saw significant weakness while pharmaceutical and housing stocks bucked the downtrend. Asia-Pacific stocks moved mostly lower. Japan's Nikkei 225 Index declined by 0.7% while Hong Kong's Hang Seng Index slumped by 1.1%. The major European markets too moved significantly moved downward while the French CAC 40 Index plummeted by 2.9%, the German DAX Index plunged by 2.7% and the U.K.'s FTSE 100 Index slid by 0.7%. In the bond markets, treasuries surged in reaction to the weaker than expected jobs data. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, plunged 14 bps to a three-month closing low of 4.22%.
Business Standard
14-07-2025
- Business
- Business Standard
Markets Slip Amid Tariff Tensions and Earnings Season Anticipation
U.S. indexes declined as Trump announced new tariffs on Canada; investors await key earnings reports while global markets show mixed trends. The Dow slid 279.13 points (0.6%) to 44,371.51, the Nasdaq slipped 45.14 points (0.2%) to 20,585.53 and the S&P 500 fell 20.71 points (0.3%) to 6,259.75. Former President Trump announced a 35% tariff on Canadian imports, effective August 1st, citing Canadas failure to curb fentanyl trafficking. He warned of further hikes if Canada retaliates but offered to reconsider if cooperation improves. Trump also revealed plans for blanket tariffs of 1520% on most U.S. trade partners. Despite these announcements, trading activity remained subdued amid a lack of major U.S. economic data. Traders are eyeing the upcoming earnings season, with major U.S. banks set to kick things off next week. Analysts say strong corporate outlooks could boost market confidence despite ongoing tariff concerns. Airline stocks pulled back sharply after soaring in the previous session, dragging the NYSE Arca Airline Index down by 2.7%. Biotech stocks were considerably weak, as reflected by the 1.5% loss posted by the NYSE Arca Biotechnology Index. Networking, housing and pharmaceutical stocks too turned notably weak while gold stocks moved strongly upwards along with the price of the precious metal. Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index dipped by 0.2%, while Hong Kong's Hang Seng Index increased by 0.5%. The major European markets all moved downside while the French CAC 40 Index slumped by 0.9%, the German DAX Index slid by 0.8% and the U.K.'s FTSE 100 Index fell by 0.4%. In the bond market, treasuries came under pressure after ending the previous session roughly flat. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, jumped 7.7 bps to 4.42%.
Business Standard
11-07-2025
- Business
- Business Standard
Wall Street Rises Despite Trump's Tariff Threats; Airline and Steel Stocks Lead Gains
Markets closed higher as investors focused on economic data and earnings reports, shrugging off Trump's copper tariff announcement and global trade tension. The Dow climbed 192.34 points (0.4%) to 44,650.64, the Nasdaq inched up 19.33 points (0.1%) to 20,630.66 and the S&P 500 rose 17.20 points (0.3%) to 6,280.46. Despite lingering uncertainty over Donald Trumps trade policies, Wall Street closed higher. Trump announced a 50% tariff on copper starting August 1 via Truth Social, raising concerns. He also shared letters to multiple world leaders outlining further tariff plans. However, investors seem to be discounting his unpredictable announcements. Analysts suggest markets are now refocusing on economic data and corporate performance instead. The Labor Department released a report showing first-time claims for U.S. unemployment benefits unexpectedly edged modestly lower in the week ended July 5th. The report said initial jobless claims dipped to 227,000, a decrease of 5,000 from the previous week's revised level of 232,000. Airline stocks substantially moved upwards, with the NYSE Arca Airline Index soaring by 7.8% to its best closing level in four months. Delta Air Lines (DAL) led the sector higher, spiking by 12% after reporting better than expected earnings for the June quarter and reinstating its full-year profit outlook. Steel stocks were significantly strong, as reflected by the 1.8% jump by the NYSE Arca Steel Index. Biotechnology, energy and financial stocks too saw notable strength while software and networking stocks moved to the downside. Asia Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index fell by 0.4%, while China's Shanghai Composite Index climbed by 0.5%. The major European markets also ended the day mixed while the German DAX Index decreased by 0.4%, the French CAC 40 Index rose by 0.3% and the U.K.'s FTSE 100 Index jumped by 1.2%. In the bond market, treasuries recovered from early weakness to end the day roughly flat. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, inched up by less than a basis point to 4.34% after reaching a high of 4.37%.
Business Standard
30-06-2025
- Business
- Business Standard
Wall Street Rallies on U.S. China Trade Optimism but Pulls Back on Canada Tensions
Markets surged early on hopes of global trade progress, with strong retail and airline gains but trimmed gains after Trump ended Canada talks over digital tax. The Dow jumped 432.43 points or 1.0% at 43,819.27, the Nasdaq climbed 105.55 points or 0.5% to 20,273.46 and the S&P 500 rose 32.05 points or 0.5% to 6,173.07. Optimism over a new U.S.-China trade agreement sparked an early rally on Wall Street, with both sides confirming details of a framework to implement the Geneva deal. The U.S. pledged to lift restrictive measures, while China agreed to review export-controlled items. Commerce Secretary Lutnick added that trade deals with ten more nations are expected soon. However, markets fell sharply after President Trump announced an end to talks with Canada over its digital tax, warning of upcoming tariffs. The Commerce Department released a closely watched report that included the Federal Reserve's preferred readings on consumer price inflation. The report showed consumer prices in the U.S. crept up in line with expectations in the month of May while the report also showed core consumer prices rose by slightly more than expected. University of Michigan too released a report showing consumer sentiment in the U.S. improved by slightly more than expected in the month of June. Retail stocks turned in a strong performance, driving the Dow Jones U.S. Retail Index up by 1.8% to its best closing level in over four months. Airline stocks displayed considerable strength , as reflected by the 1.5% gain posted by the NYSE Arca Airline Index. Gold stocks moved sharply lower along with the price of the precious metal, dragging the NYSE Arca Gold Bugs Index down by 4.0%. Asia-Pacific stocks turned in another mixed performance. Japan's Nikkei 225 Index shot up by 1.4%, while China's Shanghai Composite Index slid by 0.7%. The major European markets all moved to the upside on the day. The French CAC 40 Index surged by 1.8%, the German DAX Index jumped by 1.6% and the U.K.'s FTSE 100 Index climbed by 0.7%. In the bond market, treasuries gave back ground after trending higher over the past several sessions. As a result, the yield on the benchmark ten-year note which moves opposite of its price, rose 3 bps to 4.28%.
