Latest news with #PeterCardillo
Time of India
2 days ago
- Business
- Time of India
US stock market outlook: S&P 500, Nasdaq, Dow Jones performance to be driven by three critical factors from July 21. Details here
US stock market indexes S&P 500, Nasdaq, and Dow Jones will have testing time at Wall Street on Monday as companies' earnings season heats up. S&P 500 has climbed about 7 per cent so far this year and the critical index surged 26 per cent since April. While major companies will announce their earnings reports, investors will follow developments on the US Tariffs deadline. Looking ahead to next week, traders will be eyeing Fed Chair Jerome Powell's remarks on Tuesday at a conference in Washington. On Friday, S&P 500 dropped 0.57 points, or less than 0.1 per cent, to 6,296.79, Dow Jones Industrial Average fell 142.30 points, or 0.3 per cent, to 44,342.19 and Nasdaq composite rose 10.01 points, or less than 0.1 per cent, to 20,895.66. The Russell 2000 index of smaller companies was down by 13.68 points, or 0.6 per cent, to 2,240.01. Alphabet, Tesla, Coca-Cola Earnings Explore courses from Top Institutes in Select a Course Category Data Analytics MCA MBA Cybersecurity Leadership Design Thinking Operations Management Digital Marketing Management Others Technology Healthcare PGDM Public Policy Finance healthcare Artificial Intelligence Project Management CXO Data Science Product Management Data Science others Degree Skills you'll gain: Data Analysis & Visualization Predictive Analytics & Machine Learning Business Intelligence & Data-Driven Decision Making Analytics Strategy & Implementation Duration: 12 Weeks Indian School of Business Applied Business Analytics Starts on Jun 13, 2024 Get Details Momentum for the industrials sector and the broader market will be in focus with a heavy upcoming week of second-quarter earnings, which includes reports from more than one-fifth of the S&P 500, led by Alphabet and Tesla, the first of the "Magnificent Seven" megacap tech and growth companies to report. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Crossout: New Apocalyptic MMO Crossout Play Now Undo A number of industrials will be in the earnings spotlight as well. Aerospace and defense stocks have boosted the sector's performance this year, driven by heightened geopolitical tensions in the Middle East and Ukraine and fresh spending commitments by Germany and other nations. "Investors are gearing up for next week," said Peter Cardillo of Spartan Capital Securities, noting that major brands like Coca-Cola, Tesla and Mattel are set to report their earnings. Live Events US Tariff Announcement Beyond earnings, Wall Street will continue to focus on any developments on trade ahead of August 1, when higher U.S. tariffs on numerous trading partners are set to take effect. Traders will be looking for more clarity on Financial Times report on Friday that US President Donald Trump is pushing for a minimum tariff of 15-20 percent on European Union products in any deal with the bloc. This would mark a higher level than the 10 percent added tariff the EU -- and most other US trading partners -- are facing. US Fed Interest Rate Meet Investors will also be sensitive to news on the Federal Reserve, with Fed Chair Jerome Powell facing fresh pressure from Trump to resign as the president presses the central bank to lower interest rates. The Fed's next monetary policy meeting is July 29-30. The market has shown resilience despite "an incredible amount of uncertainty," said Eric Kuby, chief investment officer at North Star Investment Management Corp. "We continue to be surprised at how well stocks are trading given a lot of what would seem to be significant headwinds," Kuby said. FAQs Q1. What are key indexes of US Stock Market? A1. Key indexes of US Stock Market are S&P 500, Nasdaq, Dow Jones, and Russell 2000. Q2. When will US tariffs will be effective from? A2. August 1 is when higher U.S. tariffs on numerous trading partners are set to take effect.
RTHK
3 days ago
- Business
- RTHK
US stocks mixed as indexes struggle to retain records
US stocks mixed as indexes struggle to retain records A Financial Times report indicating Donald Trump was pushing for steep new tariffs on European Union products sent markets lower before they partly recovered. Photo: Reuters Wall Street stocks closed mixed on Friday, with the S&P 500 and Nasdaq struggling to log significant gains as investors awaited further corporate results and remarks by the Federal Reserve chair next week. The Dow slumped by 0.3 percent to 44,342, the S&P 500 was flat at 6,296, and the Nasdaq ended little changed at 20,895. "Investors are gearing up for next week," said Peter Cardillo of Spartan Capital Securities, noting that major brands like Coca-Cola, Tesla and Mattel are set to report their earnings. added in a note that "a lack of major developments has kept the major averages drifting sideways since falling from session highs this morning." For now, traders shrugged off a Financial Times report on Friday that US President Donald Trump is pushing for a minimum tariff of 15-20 percent on European Union products in any deal with the bloc. This would mark a higher level than the 10 percent added tariff the EU – and most other US trading partners – are facing. Markets also digested the preliminary results of a University of Michigan survey, which found that consumer sentiment crept up to the highest value in five months in July, although still substantially below its historical average. Looking ahead to next week, traders will be eyeing Fed Chair Jerome Powell's remarks on Tuesday at a conference in Washington. (AFP)
Business Times
3 days ago
- Business
- Business Times
US: Stocks mixed as indexes struggle to retain record highs
[NEW YORK] Wall Street stocks closed mixed on Friday, with the S&P 500 and Nasdaq struggling to log significant gains as investors awaited further corporate results and remarks by the Federal Reserve chair next week. The Dow Jones Industrial Average slumped by 0.3 per cent to 44,342.19, while the broad-based S&P 500 Index was flat at 6,296.79. The tech-heavy Nasdaq Composite Index crept up 0.1 per cent to 20,895.66. 'Investors are gearing up for next week,' said Peter Cardillo of Spartan Capital Securities, noting that major brands like Coca-Cola, Tesla and Mattel are set to report their earnings. added in a note that 'a lack of major developments has kept the major averages drifting sideways since falling from session highs this morning.' For now, traders shrugged off a Financial Times report Friday that US President Donald Trump is pushing for a minimum tariff of 15-20 per cent on European Union products in any deal with the bloc. This would mark a higher level than the 10 per cent added tariff the EU - and most other US trading partners - are facing. Markets also digested the preliminary results of a University of Michigan survey, which found that consumer sentiment crept up to the highest value in five months in July, although still substantially below its historical average. Looking ahead to next week, traders will be eyeing Fed Chair Jerome Powell's remarks on Tuesday at a conference in Washington. AFP
Straits Times
3 days ago
- Business
- Straits Times
US stocks mixed as indexes struggle to retain record highs
Find out what's new on ST website and app. A trader works on the floor of the New York Stock Exchange at the opening bell on July 18, 2025. NEW YORK - Wall Street stocks closed mixed on July 18, with the S&P 500 and Nasdaq struggling to log significant gains as investors awaited further corporate results and remarks by the Federal Reserve chair next week. The Dow Jones Industrial Average slumped by 0.3 per cent to 44,342.19, while the broad-based S&P 500 Index was flat at 6,296.79. The tech-heavy Nasdaq Composite Index crept up 0.1 per cent to 20,895.66. 'Investors are gearing up for next week,' said Peter Cardillo of Spartan Capital Securities, noting that major brands like Coca-Cola, Tesla and Mattel are set to report their earnings. added in a note that 'a lack of major developments has kept the major averages drifting sideways since falling from session highs this morning.' For now, traders shrugged off a Financial Times report on July 18 that US President Donald Trump is pushing for a minimum tariff of 15-20 per cent on European Union products in any deal with the bloc. This would mark a higher level than the 10 per cent added tariff the EU – and most other US trading partners – are facing. Top stories Swipe. Select. Stay informed. Singapore Critical infrastructure in S'pore under attack by cyber espionage group: Shanmugam Singapore What is UNC3886, the group that attacked Singapore's critical information infrastructure? Singapore Alleged Kpod peddler filmed trying to flee raid in Bishan charged with 6 offences Asia Indonesia court jails former trade minister for 4½ years in sugar graft case Singapore Singapore police in contact with Indonesian authorities over baby trafficking allegations Singapore NTU upholds zero grade for student accused of using AI in essay; panel found 14 false citations or data Singapore 7-year-old girl, cabby taken to hospital after vehicle pile-up in City Hall area Singapore Former NUH male nurse charged after he allegedly molested man at hospital Markets also digested the preliminary results of a University of Michigan survey, which found that consumer sentiment crept up to the highest value in five months in July, although still substantially below its historical average. Looking ahead to next week, traders will be eyeing Fed Chair Jerome Powell's remarks on July 22 at a conference in Washington. AFP
The Advertiser
6 days ago
- Business
- The Advertiser
Wall Street gains as Nvidia jumps, results in focus
The Nasdaq and the S&P 500 have crept up to new record highs on the back of gains in Nvidia while investors assessed a largely in-line inflation report and bank results that kicked off the second-quarter earnings season. A Labor Department report showed US consumer prices rose as expected on a monthly basis in June. Annually, the prices rose 2.7 per cent compared with an estimated 2.6 per cent rise. The core figure, which excludes volatile food and energy components, rose 0.2 per cent on a monthly basis and 2.9 per cent from a year earlier but the gains were below estimates. "There's little evidence that some of the tariff inflation is beginning to creep in," said Peter Cardillo, chief market economist at Spartan Capital Securities. "So, (the) bottom line (is), the tariff inflationary aspect still needs to be monitored." The odds of a July rate cut have almost become nil while markets pricing for a reduction in September lowered slightly to about 56 per cent, according to CME FedWatch. In early trading on Tuesday, the S&P 500 gained 15.68 points, or 0.25 per cent, to 6,284.24, and the Nasdaq Composite rose 142.25 points, or 0.69 per cent, to 20,782.58. The Dow Jones Industrial Average fell 101.39 points, or 0.24 per cent, to 44,353.40. The Nasdaq and the S&P 500 were boosted by AI-chip leader Nvidia, which surged 5.0 per cent after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, with Advanced Micro Devices surging 8.0 per cent and Super Micro Computer rising 5.0 per cent. The Philadelphia Semiconductor Index was up 2.1 per cent. Wall Street kicked off second-quarter earnings with big banks in the spotlight. JPMorgan Chase slipped 1.0 per cent despite boosting its 2025 net interest income outlook while Wells Fargo shares tumbled 5.0 per cent, even as its quarterly profit climbed on lower loan-loss reserves. Meanwhile, BlackRock set a new record with $US12.53 trillion ($A19.12 trillion) in assets under management amid hopes for trade deals and interest-rate cuts but its shares dropped 6.2 per cent. The KBW Bank index hit a two-week low and was last down 1.1 per cent. Citigroup rose 1.0 per cent after the lender's profit jumped in the second quarter as its traders brought in a windfall from turbulent markets. Despite US President Donald Trump's renewed tariff threats - this time aimed at Russia - markets largely brushed off the rhetoric, focusing instead on a breakthrough from negotiations with US trade partners. Hopes were buoyed after Trump signalled a willingness to talk following his weekend warning of 30 per cent tariffs on the European Union and Mexico from August 1. At least four Fed officials including Board Governor Michael Barr are scheduled to speak later in the day, potentially offering fresh clues on the central bank's next steps. Among other movers, Trade Desk surged 11.4 per cent after the software firm was set to join the benchmark S&P 500 index . Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.08-to-1 ratio on the Nasdaq. The S&P 500 posted 19 new 52-week highs and two new lows while the Nasdaq Composite recorded 53 new highs and 27 new lows. The Nasdaq and the S&P 500 have crept up to new record highs on the back of gains in Nvidia while investors assessed a largely in-line inflation report and bank results that kicked off the second-quarter earnings season. A Labor Department report showed US consumer prices rose as expected on a monthly basis in June. Annually, the prices rose 2.7 per cent compared with an estimated 2.6 per cent rise. The core figure, which excludes volatile food and energy components, rose 0.2 per cent on a monthly basis and 2.9 per cent from a year earlier but the gains were below estimates. "There's little evidence that some of the tariff inflation is beginning to creep in," said Peter Cardillo, chief market economist at Spartan Capital Securities. "So, (the) bottom line (is), the tariff inflationary aspect still needs to be monitored." The odds of a July rate cut have almost become nil while markets pricing for a reduction in September lowered slightly to about 56 per cent, according to CME FedWatch. In early trading on Tuesday, the S&P 500 gained 15.68 points, or 0.25 per cent, to 6,284.24, and the Nasdaq Composite rose 142.25 points, or 0.69 per cent, to 20,782.58. The Dow Jones Industrial Average fell 101.39 points, or 0.24 per cent, to 44,353.40. The Nasdaq and the S&P 500 were boosted by AI-chip leader Nvidia, which surged 5.0 per cent after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, with Advanced Micro Devices surging 8.0 per cent and Super Micro Computer rising 5.0 per cent. The Philadelphia Semiconductor Index was up 2.1 per cent. Wall Street kicked off second-quarter earnings with big banks in the spotlight. JPMorgan Chase slipped 1.0 per cent despite boosting its 2025 net interest income outlook while Wells Fargo shares tumbled 5.0 per cent, even as its quarterly profit climbed on lower loan-loss reserves. Meanwhile, BlackRock set a new record with $US12.53 trillion ($A19.12 trillion) in assets under management amid hopes for trade deals and interest-rate cuts but its shares dropped 6.2 per cent. The KBW Bank index hit a two-week low and was last down 1.1 per cent. Citigroup rose 1.0 per cent after the lender's profit jumped in the second quarter as its traders brought in a windfall from turbulent markets. Despite US President Donald Trump's renewed tariff threats - this time aimed at Russia - markets largely brushed off the rhetoric, focusing instead on a breakthrough from negotiations with US trade partners. Hopes were buoyed after Trump signalled a willingness to talk following his weekend warning of 30 per cent tariffs on the European Union and Mexico from August 1. At least four Fed officials including Board Governor Michael Barr are scheduled to speak later in the day, potentially offering fresh clues on the central bank's next steps. Among other movers, Trade Desk surged 11.4 per cent after the software firm was set to join the benchmark S&P 500 index . Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.08-to-1 ratio on the Nasdaq. The S&P 500 posted 19 new 52-week highs and two new lows while the Nasdaq Composite recorded 53 new highs and 27 new lows. The Nasdaq and the S&P 500 have crept up to new record highs on the back of gains in Nvidia while investors assessed a largely in-line inflation report and bank results that kicked off the second-quarter earnings season. A Labor Department report showed US consumer prices rose as expected on a monthly basis in June. Annually, the prices rose 2.7 per cent compared with an estimated 2.6 per cent rise. The core figure, which excludes volatile food and energy components, rose 0.2 per cent on a monthly basis and 2.9 per cent from a year earlier but the gains were below estimates. "There's little evidence that some of the tariff inflation is beginning to creep in," said Peter Cardillo, chief market economist at Spartan Capital Securities. "So, (the) bottom line (is), the tariff inflationary aspect still needs to be monitored." The odds of a July rate cut have almost become nil while markets pricing for a reduction in September lowered slightly to about 56 per cent, according to CME FedWatch. In early trading on Tuesday, the S&P 500 gained 15.68 points, or 0.25 per cent, to 6,284.24, and the Nasdaq Composite rose 142.25 points, or 0.69 per cent, to 20,782.58. The Dow Jones Industrial Average fell 101.39 points, or 0.24 per cent, to 44,353.40. The Nasdaq and the S&P 500 were boosted by AI-chip leader Nvidia, which surged 5.0 per cent after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, with Advanced Micro Devices surging 8.0 per cent and Super Micro Computer rising 5.0 per cent. The Philadelphia Semiconductor Index was up 2.1 per cent. Wall Street kicked off second-quarter earnings with big banks in the spotlight. JPMorgan Chase slipped 1.0 per cent despite boosting its 2025 net interest income outlook while Wells Fargo shares tumbled 5.0 per cent, even as its quarterly profit climbed on lower loan-loss reserves. Meanwhile, BlackRock set a new record with $US12.53 trillion ($A19.12 trillion) in assets under management amid hopes for trade deals and interest-rate cuts but its shares dropped 6.2 per cent. The KBW Bank index hit a two-week low and was last down 1.1 per cent. Citigroup rose 1.0 per cent after the lender's profit jumped in the second quarter as its traders brought in a windfall from turbulent markets. Despite US President Donald Trump's renewed tariff threats - this time aimed at Russia - markets largely brushed off the rhetoric, focusing instead on a breakthrough from negotiations with US trade partners. Hopes were buoyed after Trump signalled a willingness to talk following his weekend warning of 30 per cent tariffs on the European Union and Mexico from August 1. At least four Fed officials including Board Governor Michael Barr are scheduled to speak later in the day, potentially offering fresh clues on the central bank's next steps. Among other movers, Trade Desk surged 11.4 per cent after the software firm was set to join the benchmark S&P 500 index . Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.08-to-1 ratio on the Nasdaq. The S&P 500 posted 19 new 52-week highs and two new lows while the Nasdaq Composite recorded 53 new highs and 27 new lows. The Nasdaq and the S&P 500 have crept up to new record highs on the back of gains in Nvidia while investors assessed a largely in-line inflation report and bank results that kicked off the second-quarter earnings season. A Labor Department report showed US consumer prices rose as expected on a monthly basis in June. Annually, the prices rose 2.7 per cent compared with an estimated 2.6 per cent rise. The core figure, which excludes volatile food and energy components, rose 0.2 per cent on a monthly basis and 2.9 per cent from a year earlier but the gains were below estimates. "There's little evidence that some of the tariff inflation is beginning to creep in," said Peter Cardillo, chief market economist at Spartan Capital Securities. "So, (the) bottom line (is), the tariff inflationary aspect still needs to be monitored." The odds of a July rate cut have almost become nil while markets pricing for a reduction in September lowered slightly to about 56 per cent, according to CME FedWatch. In early trading on Tuesday, the S&P 500 gained 15.68 points, or 0.25 per cent, to 6,284.24, and the Nasdaq Composite rose 142.25 points, or 0.69 per cent, to 20,782.58. The Dow Jones Industrial Average fell 101.39 points, or 0.24 per cent, to 44,353.40. The Nasdaq and the S&P 500 were boosted by AI-chip leader Nvidia, which surged 5.0 per cent after unveiling plans to resume sales of its H20 AI chip to China. Other chipmakers also advanced, with Advanced Micro Devices surging 8.0 per cent and Super Micro Computer rising 5.0 per cent. The Philadelphia Semiconductor Index was up 2.1 per cent. Wall Street kicked off second-quarter earnings with big banks in the spotlight. JPMorgan Chase slipped 1.0 per cent despite boosting its 2025 net interest income outlook while Wells Fargo shares tumbled 5.0 per cent, even as its quarterly profit climbed on lower loan-loss reserves. Meanwhile, BlackRock set a new record with $US12.53 trillion ($A19.12 trillion) in assets under management amid hopes for trade deals and interest-rate cuts but its shares dropped 6.2 per cent. The KBW Bank index hit a two-week low and was last down 1.1 per cent. Citigroup rose 1.0 per cent after the lender's profit jumped in the second quarter as its traders brought in a windfall from turbulent markets. Despite US President Donald Trump's renewed tariff threats - this time aimed at Russia - markets largely brushed off the rhetoric, focusing instead on a breakthrough from negotiations with US trade partners. Hopes were buoyed after Trump signalled a willingness to talk following his weekend warning of 30 per cent tariffs on the European Union and Mexico from August 1. At least four Fed officials including Board Governor Michael Barr are scheduled to speak later in the day, potentially offering fresh clues on the central bank's next steps. Among other movers, Trade Desk surged 11.4 per cent after the software firm was set to join the benchmark S&P 500 index . Declining issues outnumbered advancers by a 1.09-to-1 ratio on the NYSE and by a 1.08-to-1 ratio on the Nasdaq. The S&P 500 posted 19 new 52-week highs and two new lows while the Nasdaq Composite recorded 53 new highs and 27 new lows.
