Latest news with #S&P500E-Mini
Yahoo
07-08-2025
- Business
- Yahoo
Stocks Climb Before the Open on Chip Tariff Relief and Ukraine Truce Hopes
September S&P 500 E-Mini futures (ESU25) are up +0.81%, and September Nasdaq 100 E-Mini futures (NQU25) are up +0.78% this morning as U.S. President Donald Trump's 100% tariff threat on chip exporters included exemptions for firms investing in the U.S., while hopes for a truce in Russia's war with Ukraine further boosted sentiment. President Trump announced late Wednesday a roughly 100% tariff on semiconductors entering the U.S., but noted that tech firms like Apple investing in domestic manufacturing would be exempt from the duties. Mr. Trump said that 'if you're building in the United States of America, there's no charge.' Also aiding sentiment, the Kremlin confirmed that Presidents Donald Trump and Vladimir Putin are set to hold summit talks in the coming days, fueling hopes for a potential truce in Russia's war with Ukraine. Increasing speculation that the Federal Reserve will resume rate cuts in September is also buoying sentiment as U.S. reciprocal tariffs took effect against dozens of countries a minute past midnight Washington time on Thursday. In a social-media post, Mr. Trump said, 'Billions of dollars in tariffs are now flowing into the United States of America.' More News from Barchart Supermicro's Earnings Selloff Explained: Should You Buy SMCI Stock Now? Amazon's $36M Bet on Quantum Computing: What Investors Need to Know AMD Stock Slips After Q2 Earnings, But Here's Why It's a Buying Opportunity Markets move fast. Keep up by reading our FREE midday Barchart Brief newsletter for exclusive charts, analysis, and headlines. Investors now look ahead to U.S. jobless claims data for further insight into the health of the labor market. In yesterday's trading session, Wall Street's three main equity benchmarks closed higher. Apple (AAPL) climbed over +5% and was the top percentage gainer on the Dow following reports that the tech titan is set to announce a fresh $100 billion investment in the U.S. in an effort to avoid steep tariffs on iPhones. Also, Arista Networks (ANET) surged more than +17% and was the top percentage gainer on the S&P 500 after the company reported stronger-than-expected Q2 results and issued solid Q3 revenue guidance. In addition, Shopify (SHOP) soared over +21% and was the top percentage gainer on the Nasdaq 100 after the company posted upbeat Q2 results. On the bearish side, Super Micro Computer (SMCI) plummeted more than -18% and was the top percentage loser on the S&P 500 after the AI server maker reported downbeat FQ4 results and provided disappointing FQ1 guidance. 'There are a lot of narratives to keep track of in today's investing environment, but earnings remain the main catalyst for stocks. While pullbacks are possible — particularly due to macro-related influences and poor seasonality trends — those pullbacks will likely prove to be buying opportunities,' said Bret Kenwell at eToro. Minneapolis Fed President Neel Kashkari said on Wednesday that a slowing of the U.S. economy could warrant an interest rate cut in the near term, and he still sees two cuts by the end of the year. Also, Fed Governor Lisa Cook described the July jobs report as 'concerning' and suggested it may mark a turning point for the U.S. economy. 'These revisions are somewhat typical of turning points,' Cook said. In addition, San Francisco Fed President Mary Daly said that policymakers will likely need to adjust interest rates in the coming months to prevent further labor market weakness. Meanwhile, U.S. rate futures have priced in a 93.2% chance of a 25 basis point rate cut and a 6.8% chance of no rate change at September's monetary policy meeting. Today, investors will focus on U.S. Initial Jobless Claims data, which is set to be released in a couple of hours. Economists expect this figure to be 221K, compared to last week's number of 218K. U.S. Unit Labor Costs and Nonfarm Productivity preliminary data will also be closely watched today. Economists forecast Q2 Unit Labor Costs to be +1.6% q/q and Nonfarm Productivity to be +1.9% q/q, compared to the first-quarter numbers of +6.6% q/q and -1.5% q/q, respectively. U.S. Wholesale Inventories data will be released today. Economists expect the final June figure to be +0.2% m/m, compared to -0.3% m/m in May. U.S. Consumer Credit data will be released today as well. Economists expect this figure to be $7.40 billion in June, compared to the previous figure of $5.10 billion. In addition, market participants will parse comments today from Atlanta Fed President Raphael Bostic. On the earnings front, notable companies like Eli Lilly (LLY), Gilead (GILD), ConocoPhillips (COP), Constellation Energy (CEG), Vistra Energy (VST), and Monster Beverage (MNST) are set to report their quarterly figures today. According to Bloomberg Intelligence, S&P 500 companies are on track to post a 9.1% increase in Q2 profits from a year earlier, well above analysts' forecast of 2.8%. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.215%, down -0.35%. The Euro Stoxx 50 Index is up +1.14% this morning as upbeat earnings from some of the region's biggest companies outweighed weak economic data. Sentiment was further boosted after the Kremlin confirmed that Presidents Donald Trump and Vladimir Putin are set to hold summit talks in the coming days, fueling hopes for a potential truce in Russia's war with Ukraine. Insurance and travel stocks outperformed on Thursday. Data released on Thursday showed that German monthly industrial production saw its steepest decline in nearly a year in June, heightening concerns that Europe's largest economy may have contracted more sharply last quarter than previously estimated. Separately, data showed that Germany's goods exports to the U.S. fell further in June, as the effects of tariffs on the country's export-driven economy continued to take a toll. Meanwhile, investors await the Bank of England's monetary policy decision due later in the session, with the central bank widely expected to cut its benchmark rate by 25 basis points to 4.00%. On the trade front, Switzerland's president departed Washington without announcing any progress in reducing the 39% tariff imposed by President Trump on her country. In corporate news, Ap Moller-Maersk A/S ( rose over +2% after the shipping group boosted its full-year profit guidance. Also, Allianz SE ( climbed more than +5% on solid quarterly results. In addition, Henkel ( gained over +1% after the company posted better-than-expected Q2 results and raised the lower end of its adjusted EBIT margin forecast. Germany's Exports, Germany's Imports, and Germany's Industrial Production data were released today. The German June Exports rose +0.8% m/m, stronger than expectations of +0.5% m/m. The German June Imports rose +4.2% m/m, stronger than expectations of +1.0% m/m. The German June Industrial Production fell -1.9% m/m, weaker than expectations of -0.4% m/m. Asian stock markets today closed in the green. China's Shanghai Composite Index (SHCOMP) closed up +0.16%, and Japan's Nikkei 225 Stock Index (NIK) closed up +0.65%. China's Shanghai Composite Index closed slightly higher today as upbeat trade data from the country helped extend the recent rally despite fresh U.S. tariff threats. Rare earth stocks gained ground on Thursday. Customs data released on Thursday showed that China's export growth unexpectedly picked up pace in July, marking the fastest increase since April, indicating that U.S. tariffs haven't slowed China's export engine, even as trade with the U.S. has declined. The trade data reinforces investor confidence that China's growth will hold up, supporting the Politburo's decision last week to refrain from additional stimulus measures. Investors are also waiting for clarity on whether the tariff truce between Beijing and Washington will be extended ahead of the August 12th deadline. U.S. President Donald Trump said on Tuesday that he was 'getting very close to a deal' with China to extend the truce. At the same time, Mr. Trump said on Wednesday that he may impose additional tariffs on Chinese goods, similar to the 25% levies placed on India over its purchases of Russian oil, depending on what happens. The U.S. president also said a tariff of around 100% would be imposed on semiconductor chips imported from countries that do not manufacture in the U.S. or plan to, though analysts noted the move would have only a limited impact on Chinese chipmakers and could even speed up domestic production. Investor attention is now on China's inflation data, scheduled for release on Saturday, for further clues about domestic demand and the overall state of the economy. The Chinese July Trade Balance stood at $98.24B, weaker than expectations of $105.20B. The Chinese July Exports rose +7.2% y/y, stronger than expectations of +5.4% y/y. The Chinese July Imports rose +4.1% y/y, stronger than expectations of -1.0% y/y. Japan's Nikkei 225 Stock Index closed higher today, tracking overnight gains on Wall Street. Utilities, financial, and technology stocks outperformed on Thursday. Preliminary data from the Cabinet Office released on Thursday showed that Japan's leading economic indicators index, which gauges the economic outlook for a few months ahead based on data such as job offers and consumer sentiment, rose to a 3-month high in June. Meanwhile, a new divergence in interpretations of the U.S.-Japan trade deal emerged on Thursday, as Japan's chief negotiator, Ryosei Akazawa, traveled to Washington to push for the implementation of a promise to reduce the car import tariff to 15%. Akazawa said earlier this week that 'there will be no stacking' of new 15% tariffs on top of existing levies, but Japanese media reports said that Washington would not exempt Tokyo from an order imposing 15% across-the-board tariffs on top of existing duties. In other news, foreign investors bought a net 193 billion yen worth of Japanese stocks in the week ended August 2nd, marking the smallest weekly total in six weeks. In corporate news, Sony Group rose over +4% after the game and camera maker lifted its annual operating profit guidance. Also, Shiseido surged about +11% after the company reported a 21.3% increase in core operating profit for the first half of the year. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -4.77% to 25.15. The Japanese June Leading Index stood at 106.1, stronger than expectations of 106.0. Pre-Market U.S. Stock Movers Apple (AAPL) rose over +3% in pre-market trading after announcing a $100 billion U.S. investment that could exempt it from President Trump's threatened tariff on chip imports. Duolingo (DUOL) soared more than +25% in pre-market trading after the language-learning app posted upbeat Q2 results and raised its full-year bookings guidance. DraftKings (DKNG) climbed over +7% in pre-market trading after the online gaming company reported better-than-expected Q2 revenue. Fortinet (FTNT) tumbled more than -20% in pre-market trading after the cybersecurity company issued weak Q3 revenue guidance. Airbnb (ABNB) slid over -5% in pre-market trading after projecting slower growth for the second half of the year. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Thursday - August 7th Eli Lilly (LLY), Gilead (GILD), ConocoPhillips (COP), Constellation Energy (CEG), Brookfield (BN), Parker-Hannifin (PH), Motorola (MSI), Vistra Energy (VST), Canadian Natural (CNQ), Monster Beverage (MNST), Flutter Entertainment (FLUT), Sempra Energy (SRE), Cheniere Energy (LNG), Becton Dickinson (BDX), Atlassian Corp Plc (TEAM), Block (XYZ), Datadog (DDOG), Wheaton Precious Metals (WPM), The Trade Desk (TTD), Take-Two (TTWO), Kenvue (KVUE), Consolidated Edison (ED), Martin Marietta Materials (MLM), Targa Resources (TRGP), Microchip (MCHP), Live Nation Entertainment (LYV), Sun Life Financial (SLF), Warner Bros Discovery (WBD), Restaurant Brands Int (QSR), Pinterest (PINS), Expedia (EXPE), Godaddy Inc (GDDY), BCE Inc (BCE), Pembina Pipeline (PBA), Insmed (INSM), Insulet (PODD), US Foods (USFD), Twilio (TWLO), Erie Indemnity (ERIE), Natera Inc (NTRA), Ralph Lauren (RL), Zimmer Biomet (ZBH), Gen Digital (GEN), Alliant Energy (LNT), Evergy (EVRG), Sharkninja (SN), Warner Music (WMG), Somnigroup International (SGI), YPF Sociedad Anonima (YPF), Nuscale Power (SMR), Nebius NV (NBIS), Hyatt (H), Solventum (SOLV), Maplebear (CART), Chime Financial (CHYM), Texas Roadhouse (TXRH), MP Materials (MP), Ascendis Pharma AS (ASND), Wynn Resorts (WYNN), Akamai (AKAM), Doximity (DOCS), Celsius (CELH), Viatris (VTRS), MACOM Tech (MTSI), Kratos Defense&Security (KTOS), ADS (WMS), EPAM Systems (EPAM), Open Text (OTEX), Nova (NVMI), Dropbox (DBX), Genpact (G), Globus Medical (GMED), Starwood Property (STWD), Stepstone (STEP), Elanco Animal Health (ELAN), UWM Holdings (UWMC), Millicom (TIGO), Karman Holdings (KRMN), Installed Building (IBP), Crocs (CROX), Post (POST), Main Street Capital (MAIN), Nexstar (NXST), D Wave Quantum (QBTS), Construction Partners (ROAD), Sezzle (SEZL), ESCO Technologies (ESE), B2Gold (BTG), Jfrog (FROG), Acushnet Holdings (GOLF), Victory Capital (VCTR), Americold Realty (COLD), SoundHound AI (SOUN), Onto Innovation (ONTO), IAMGold (IAG), Zai Lab (ZLAB), ACI Worldwide (ACIW), Adtalem Education (ATGE), Assured Guaranty (AGO), Maximus (MMS), Arcosa (ACA), Cytokinetics Inc (CYTK), Granite Construction (GVA), PTC Therapeutics (PTCT). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on Sign in to access your portfolio
Yahoo
25-07-2025
- Business
- Yahoo
S&P Futures Gain on Cautious Optimism Over Trade Deals
September S&P 500 E-Mini futures (ESU25) are trending up +0.13% this morning as investors remain cautiously optimistic that the U.S. may strike more trade deals ahead of President Donald Trump's August 1st deadline. The European Union and the U.S. are reportedly close to finalizing a trade agreement that would place 15% tariffs on most imports from the bloc. President Trump hinted at the potential deal on Thursday, stating, 'We're in the process of probably making a very good deal with [the EU] too. They want to make a deal very badly.' In addition, Mr. Trump said that trade partners with the U.S. could reduce tariff rates set to take effect next week by reaching agreements similar to the one secured with Japan. More News from Barchart 2 Recession-Proof Dividend Stocks to Buy for the Second Half of 2025 UnitedHealth Stock Spirals Lower Again. Don't Buy the Dip. This Self-Driving Car Stock Is Surging on a Major Nvidia Boost Get exclusive insights with the FREE Barchart Brief newsletter. Subscribe now for quick, incisive midday market analysis you won't find anywhere else. In yesterday's trading session, Wall Street's major indices closed mixed. Alphabet (GOOGL) rose over +1% after the Google parent reported stronger-than-expected Q2 results, boosted by demand for AI products. Also, West Pharmaceutical Services (WST) jumped more than +22% and was the top percentage gainer on the S&P 500 after the maker of injectable medicines posted upbeat Q2 results and raised its full-year guidance. In addition, T-Mobile US (TMUS) climbed over +5% and was the top percentage gainer on the Nasdaq 100 after the company reported better-than-expected Q2 results and boosted its full-year guidance for postpaid net customer additions. On the bearish side, Tesla (TSLA) slumped more than -8% and was the top percentage loser on the Nasdaq 100 after CEO Elon Musk cautioned about tough times ahead for the company as incentives such as the EV tax credit phase out in the U.S. The Labor Department's report on Thursday showed that the number of Americans filing for initial jobless claims in the past week unexpectedly fell -4K to a 3-month low of 217K, compared with the 227K expected. Also, the U.S. July S&P Global services PMI climbed to 55.2, stronger than expectations of 53.0. At the same time, the U.S. S&P Global manufacturing PMI fell to 49.5 in July, weaker than expectations of 52.7. In addition, U.S. June new home sales rose +0.6% m/m to 627K, weaker than expectations of 649K. 'There are still few signs of major cracks in the labor market,' said Chris Larkin at E*Trade from Morgan Stanley. 'And if that picture remains intact, the Fed has one less reason to cut interest rates.' U.S. rate futures have priced in a 97.4% chance of no rate change and a 2.6% chance of a 25 basis point rate cut at the upcoming monetary policy meeting. Also, expectations for rate cuts later this year were trimmed to less than two following the jobless claims data. Meanwhile, President Trump clashed with Fed Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the expenses tied to renovating two historic buildings at its headquarters and reiterating his push for lower interest rates. Today, investors will focus on U.S. Durable Goods Orders and Core Durable Goods Orders data, set to be released in a couple of hours. Economists expect June Durable Goods Orders to plunge -10.4% m/m and Core Durable Goods Orders to edge up +0.1% m/m, compared to the prior figures of +16.4% m/m and +0.5% m/m, respectively. On the earnings front, notable companies like HCA Healthcare (HCA), Charter Communications (CHTR), Natwest Group (NWG), and Phillips 66 (PSX) are set to report their quarterly figures today. According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +3.2% increase in quarterly earnings for Q2 compared to the previous year, slightly above the pre-season forecast of +2.8%. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.421%, up +0.29%. The Euro Stoxx 50 Index is down -0.35% this morning as investors digest disappointing corporate earnings reports and await updates on EU-U.S. trade negotiations before U.S. President Donald Trump's tariff deadline next week. Financial and mining stocks led the declines on Friday. The benchmark index is on track to notch a weekly loss. A survey released on Friday showed that German business sentiment improved less than expected in July, as firms expressed greater satisfaction with current business conditions. Separately, data showed that Britain's monthly retail sales partially rebounded in June, providing a glimmer of optimism for the struggling economy. In addition, European Central Bank data showed that bank lending in the Eurozone expanded at the quickest pace in two years in June, continuing a steady recovery driven by lower borrowing costs and a stabilization in the economy. Investor focus remains on whether the European Union will be able to finalize a trade deal with the U.S. ahead of Trump's August 1st deadline. Reports emerged earlier this week that the EU and the U.S. are making headway on a deal that would impose a 15% tariff on most EU imports. Trump hinted at a possible agreement with the EU on Thursday, stating, 'We're in the process of probably making a very good deal with [the EU] too. They want to make a deal very badly.' Meanwhile, an ECB poll showed on Friday that Eurozone companies are contending with a slowing economy and heightened competition from China as U.S. tariffs dampen confidence and push competitors to explore new markets. In corporate news, Puma Se ( plunged over -15% after the German sportswear brand slashed its full-year guidance. Also, Valeo ( slid more than -7% after the French car parts supplier lowered its annual sales forecast. U.K. Retail Sales, U.K. Core Retail Sales, France's Consumer Confidence, and Germany's Ifo Business Climate Index were released today. U.K. June Retail Sales rose +0.9% m/m and +1.7% y/y, weaker than expectations of +1.2% m/m and +1.8% y/y. U.K. June Core Retail Sales rose +0.6% m/m and +1.8% y/y, weaker than expectations of +1.2% m/m and +2.0% y/y. The French July Consumer Confidence came in at 89, stronger than expectations of 88. The German July Ifo Business Climate Index stood at 88.6, weaker than expectations of 89.0. Asian stock markets today closed in the red. China's Shanghai Composite Index (SHCOMP) closed down -0.33%, and Japan's Nikkei 225 Stock Index (NIK) closed down -0.88%. China's Shanghai Composite Index ended lower today, pausing its recent rally, as investors took profit ahead of the closely watched Politburo meeting and a new round of U.S.-China trade talks next week. Liquor and consumer stocks led the declines on Friday. Despite the day's pullback, the benchmark index logged its fifth straight weekly gain, marking its longest winning streak since the rally that began in February 2024. Chinese stocks have been climbing in recent weeks, as sentiment was boosted by Beijing's measures to rein in excessive competition and overcapacity, as well as signs of improving U.S.-China trade relations. Meanwhile, Chinese Vice Premier He Lifeng is set to meet U.S. Treasury Secretary Scott Bessent in Stockholm next week for a new round of economic and trade talks. Mr. Bessent reiterated on Thursday that trade with China is in a 'good place' and that Washington is now positioned to begin discussions with Beijing on rebalancing the Chinese economy. Investors are also looking to the country's Politburo meeting next week, where policymakers will deliberate on economic policies for the second half of the year. Ahead of these key events, investors will parse China's industrial profits data for June, due this weekend, for clues on how domestic firms are navigating ongoing trade uncertainty. In corporate news, Lingbao Gold Group Co. climbed over +5% in Hong Kong after the gold mining group projected a jump in first-half profits. Japan's Nikkei 225 Stock Index ended lower today as some investors took profit following a strong two-day rally triggered by the country's trade agreement with the U.S. Chip and chemical stocks led the declines on Friday. Still, the benchmark index posted strong weekly gains. Data released on Friday showed that core consumer inflation in Tokyo eased in July but remained high enough to keep the Bank of Japan's normalization on track. Separately, BOJ data showed that a key gauge of Japan's service-sector inflation slowed in June but also remained elevated. In addition, data from the Cabinet Office showed that Japan's May leading economic indicators index, which gauges the economic outlook for a few months ahead based on data such as job offers and consumer sentiment, was revised downward. Meanwhile, Reuters reported on Friday that the U.S.-Japan trade agreement paves the way for the BOJ to potentially hike interest rates again this year, a move the central bank may begin signaling by presenting a less gloomy view on the economic outlook in its quarterly report at next week's policy meeting. In other news, overseas investors purchased a net 571.9 billion yen ($3.88 billion) of Japanese equities in the week ended July 19th, marking a fourth consecutive week of inflows, supported by a softer yen and a rally in AI-related tech stocks, despite rising concerns ahead of the upper house election. In corporate news, Mitsubishi Motors slumped over -7% after the automaker posted an 84% drop in Q1 operating profit. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed down -4.03% to 22.17. The Japanese July Tokyo Core CPI rose +2.9% y/y, weaker than expectations of +3.0% y/y. The Japanese June Corporate Services Price Index rose +3.2% y/y, in line with expectations. The Japanese May Leading Index came in at 104.8, weaker than expectations of 105.3. Pre-Market U.S. Stock Movers Intel (INTC) slumped over -5% in pre-market trading after the chipmaker posted an unexpected quarterly loss and issued below-consensus Q3 adjusted EPS guidance. Deckers Outdoor (DECK) surged nearly +12% in pre-market trading after the company posted upbeat FQ1 results and provided solid FQ2 EPS guidance. Newmont Goldcorp (NEM) rose more than +1% in pre-market trading after the gold miner reported stronger-than-expected Q2 results. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Friday - July 25th HCA Healthcare (HCA), Aon (AON), Charter Communications (CHTR), Natwest Group (NWG), Phillips 66 (PSX), Booz Allen Hamilton (BAH), Centene (CNC), Saia (SAIA), AutoNation (AN), OneMain Holdings (OMF), Moog (MOGa), Lear (LEA), Gentex (GNTX), Flagstar Financial (FLG), Sensient Technologies (SXT), Portland General Electric (POR), First Hawaiian (FHB), Trinet Grou (TNET), Stellar Bancorp (STEL), Lakeland Financial (LKFN), Virtus (VRTS), Virtus (VRTS), Gorman-Rupp (GRC), Southside (SBSI), Central Pacific Financial (CPF), Wabash National (WNC), GrafTech (EAF). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. 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Yahoo
16-07-2025
- Business
- Yahoo
S&P Futures Muted With Focus on Key U.S. PPI Data and More Big Bank Earnings, Fed Speak on Tap
September S&P 500 E-Mini futures (ESU25) are trending down -0.09% this morning as investors digest the latest tariff headlines, while also awaiting crucial U.S. producer inflation data, quarterly reports from more big banks, and remarks from Federal Reserve officials. U.S. President Donald Trump signaled on Tuesday that tariffs on pharmaceuticals could be implemented by the end of the month, with similar measures on semiconductors possibly following. 'Probably at the end of the month, and we're going to start off with a low tariff and give the pharmaceutical companies a year or so to build, and then we're going to make it a very high tariff,' he told reporters. Trump also stated that letters informing smaller countries of their U.S. tariff rates would be sent out soon, adding that his administration would likely impose a tariff of 'a little over 10%' on those nations. In addition, the president predicted that he could finalize 'two or three' trade agreements with countries before his so-called reciprocal tariffs take effect on August 1st, noting that a deal with India was among the most likely. Dear Nvidia Stock Fans, Mark Your Calendars for July 16 Seeking Passive Income? This 'Strong Buy' Dividend Stock Yields 8.6%. How to Buy Tesla for a 13% Discount, or Achieve a 26% Annual Return Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! In yesterday's trading session, Wall Street's major indexes closed mixed. State Street (STT) slumped over -7% and was the top percentage loser on the S&P 500 after Q2 results showed the company didn't reduce expenses as much as analysts had expected and reported a decline in net interest income. Also, Wells Fargo (WFC) slid more than -5% after the San Francisco lender cut its full-year net interest income guidance. In addition, Newmont (NEM) dropped over -5% following the resignation of Chief Financial Officer Karyn Ovelmen. On the bullish side, Advanced Micro Devices (AMD) climbed more than +6%, and Nvidia (NVDA) rose over +4% to lead gainers in the Dow after the companies said they will resume some chip sales to China. The U.S. Bureau of Labor Statistics report released on Tuesday showed that consumer prices rose +0.3% m/m in June, in line with expectations. On an annual basis, headline inflation picked up to +2.7% in June from +2.4% in May, slightly stronger than expectations of +2.6%. Also, the core CPI, which excludes volatile food and fuel prices, rose +0.2% m/m and +2.9% y/y in June, weaker than expectations of +0.3% m/m and +3.0% y/y. In addition, the Empire State manufacturing index unexpectedly rose to 5.50 in July, stronger than expectations of -8.30. 'The big question for the inflation picture is tariffs. It's taking some time for tariffs to show up in the data, but it's highly likely that a tariff-driven inflation reckoning is coming,' said Skyler Weinand at Regan Capital. 'The Fed will want to watch the next several inflation and jobs reports before it makes any moves on rates.' Richmond Fed President Tom Barkin said on Tuesday that the latest inflation data showed signs of building price pressures, and that more were on the way. Barkin added that it remains unclear how much of the tariffs companies could pass along to consumers, who may struggle to absorb additional price increases. Also, Boston Fed President Susan Collins said she still believes the central bank can afford to be patient when considering interest rate cuts. 'Continued overall solid economic conditions enable the Fed to take the time to carefully assess the wide range of incoming data,' Collins said. Meanwhile, U.S. rate futures have priced in a 97.4% chance of no rate change and a 2.6% chance of a 25 basis point rate cut at July's monetary policy meeting. After the latest inflation data, traders priced in lower odds that the Fed will cut rates more than once this year, with the chances of a September move now viewed as only slightly above 50%. Second-quarter corporate earnings season picks up steam, with investors awaiting reports today from major U.S. banks such as Bank of America (BAC), Morgan Stanley (MS), and Goldman Sachs (GS) as well as notable companies like Johnson & Johnson (JNJ), Progressive (PGR), and United Airlines Holdings (UAL). According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +2.8% increase in quarterly earnings for Q2 compared to the previous year, marking the smallest rise in two years. On the economic data front, all eyes are focused on the U.S. Producer Price Index, which is set to be released in a couple of hours. Economists, on average, forecast that the U.S. June PPI will stand at +0.2% m/m and +2.5% y/y, compared to the previous figures of +0.1% m/m and +2.6% y/y. The U.S. Core PPI will also be closely monitored today. Economists expect June figures to be +0.2% m/m and +2.7% y/y, compared to May's numbers of +0.1% m/m and +3.0% y/y. U.S. Industrial Production and Manufacturing Production data will be reported today. Economists anticipate Industrial Production to rise +0.1% m/m and Manufacturing Production to be unchanged m/m in June, compared to the May figures of -0.2% m/m and +0.1% m/m, respectively. U.S. Crude Oil Inventories data will be released today as well. Economists expect this figure to be -1.800M, compared to last week's value of 7.070M. In addition, market participants will be looking toward speeches from Richmond Fed President Tom Barkin, Cleveland Fed President Beth Hammack, Fed Governor Michael Barr, and New York Fed President John Williams. Later today, the Fed will release its Beige Book survey of regional business contacts, which provides an update on economic conditions in each of the 12 Fed districts. The Beige Book is published two weeks before each meeting of the policy-setting Federal Open Market Committee. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.478%, down -0.29%. The Euro Stoxx 50 Index is down -0.32% this morning as investors digest a fresh batch of corporate earnings reports and remain focused on trade issues. Technology stocks plunged on Wednesday, pressured by a more than -8% drop in ASML Holding N.V. ( after the world's largest supplier of chip-making equipment lowered its growth forecast for next year, citing trade tensions. Automobile stocks also slumped. Data from the Office for National Statistics released on Wednesday showed that Britain's annual inflation rate unexpectedly rose to its highest level in over a year in June, likely prompting policymakers at the Bank of England to remain cautious despite a sluggish economy. Separately, final data from statistics agency Istat confirmed on Wednesday that Italy's annual inflation rate rose to 1.7% in June from 1.6% in the previous month. In addition, data showed that Europe's exports to the U.S. fell for the second straight month in May following a first-quarter surge, but remained above year-ago levels. Meanwhile, investors await clarity on U.S.-EU trade talks, as the bloc prepared retaliatory measures in case negotiations with Washington break down. Trump threatened a 30% tariff on most EU imports from August 1st over the weekend, a rate that analysts warn could push the Eurozone to the brink of recession. In other corporate news, Renault ( plummeted over -16% after the automaker cut its full-year guidance and named a new interim chief executive officer. U.K.'s CPI, U.K.'s Core CPI, Italy's CPI, and Eurozone's Trade Balance data were released today. U.K. June CPI rose +0.3% m/m and +3.6% y/y, stronger than expectations of +0.2% m/m and +3.4% y/y. U.K. June Core CPI rose +0.4% m/m and +3.7% y/y, stronger than expectations of +0.2% m/m and +3.5% y/y. The Italian June CPI rose +0.2% m/m and +1.7% y/y, in line with expectations. Eurozone May Trade Balance came in at 16.2B euros, stronger than expectations of 13.9B euros. Asian stock markets today closed in the red. China's Shanghai Composite Index (SHCOMP) closed down -0.03%, and Japan's Nikkei 225 Stock Index (NIK) closed down -0.04%. China's Shanghai Composite Index ended slightly lower today as concerns persisted over trade relations with the United States. U.S. President Donald Trump on Tuesday stated that the country would fight China 'in a very friendly fashion.' Morgan Stanley economists said in a note that, in their base case, they assume 'the U.S. tariff rate on China would stay unchanged at 30% — but the recent escalation of U.S. tariffs on other economies is likely to further dampen global trade momentum.' Separately, Citi analysts said that the Trump administration's focus on national security and strategic priorities is likely to keep U.S.-China relations strained. Meanwhile, China's earnings season could also pose a risk to the fragile rebound in onshore stocks. Analysts said that the country's corporate earnings growth likely slowed or stagnated in the second quarter as the U.S. ratcheted up trade tariffs, with guidance expected to be cautious amid intensifying price wars and a likely slowdown in economic growth in the second half of 2025. In other news, UBS lifted its 2025 China GDP growth forecast to 4.7% from 4%, but noted it expects a likely contraction in exports, continued property market weakness, and slowing consumption growth in the second half of the year. The latest batch of economic data from the country highlighted weak consumer demand at home and weakness in the property sector, potentially raising pressure on policymakers to roll out additional stimulus measures. Investor focus is now on the upcoming Politburo meeting, which is expected to guide economic policy for the remainder of the year. Japan's Nikkei 225 Stock Index closed just below the flatline today as worries over the upcoming Upper House election and the fate of trade talks with the U.S. kept sentiment subdued. Real estate and financial stocks led the declines on Wednesday. At the same time, chip-related stocks outperformed amid positive sentiment surrounding the easing of U.S. restrictions on chip exports to China. A Reuters Tankan poll showed on Wednesday that Japanese manufacturers' business confidence rose slightly in July and is expected to improve further in the months ahead, despite ongoing concerns over U.S. tariffs, supported by a rebound in the semiconductor sector. Meanwhile, investors are cautiously awaiting the outcome of the upper house election scheduled for July 20th. A potential defeat for the ruling Liberal Democratic Party and its coalition partner Komeito in the election could strengthen opposition parties that have vowed to reduce or eliminate the sales tax. Japanese government bond yields surged to record highs in recent sessions as investors priced in the potential for increased fiscal spending following this weekend's election. On the trade front, the outlook for the trade deal between the U.S. and Japan remains uncertain even as the August 1st deadline draws near. Local media reported that Prime Minister Shigeru Ishiba is planning to meet with U.S. Treasury Secretary Scott Bessent in Tokyo on Friday. In corporate news, Toho surged over +10% after the creator of the 'Godzilla' movie franchise boosted its full-year net profit guidance. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +3.06% to 24.27. Pre-Market U.S. Stock Movers ASML Holding N.V. (ASML) slumped over -8% in pre-market trading after the Dutch supplier of chip-making equipment said it could no longer guarantee growth in 2026 due to rising uncertainty stemming from President Trump's tariffs. The warning weighed on U.S. semiconductor equipment makers, with Applied Materials (AMAT) and Lam Research (LRCX) falling over -3% in pre-market trading. Global Payments (GPN) climbed more than +6% in pre-market trading after the Financial Times reported that activist hedge fund Elliott Management had built a 'sizeable' stake in the payments processing company. Palantir Technologies (PLTR) gained about +0.6% in pre-market trading after Mizuho upgraded the stock to Neutral from Underperform. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Wednesday - July 16th Johnson & Johnson (JNJ), Bank of America (BAC), Morgan Stanley (MS), Goldman Sachs (GS), Progressive (PGR), Prologis (PLD), PNC Financial (PNC), Kinder Morgan (KMI), M&T Bank (MTB), United Airlines Holdings (UAL), First Horizon National (FHN), Rexford Inl Rty (REXR), Commerce Bancshares (CBSH), Synovus (SNV), Alcoa (AA), First Industrial RT (FR), Home BancShares (HOMB), SL Green (SLG), AAR (AIR), Banner (BANR), Monarch (MCRI), Triumph Bancorp (TFIN), Great Southern Bancorp (GSBC), South Plains Financial (SPFI), Martin Midstream (MMLP). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Yahoo
18-06-2025
- Business
- Yahoo
Stock Index Futures Gain as Investors Await Fed Rate Decision, Middle East in Focus
June S&P 500 E-Mini futures (ESM25) are up +0.29%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.36% this morning, pointing to a slightly higher open on Wall Street after yesterday's drop, while investors await the Federal Reserve's policy decision and updated projections, as well as Chair Jerome Powell's remarks. Investors also await updates on whether the U.S. plans to become directly involved in the conflict in the Middle East. The conflict between Israel and Iran entered a sixth day on Wednesday, showing no signs of easing. U.S. President Donald Trump demanded Iran's unconditional surrender on Tuesday and threatened a potential strike against the country's leader. In yesterday's trading session, Wall Street's main stock indexes closed lower. Solar stocks cratered after Senate Republicans outlined revisions to President Trump's tax-and-spending bill that would phase out solar, wind, and energy tax credits by 2028, with Sunrun (RUN) plummeting over -40%, and Enphase Energy (ENPH) tumbling more than -23% to lead losers in the S&P 500. Also, Lennar (LEN) slumped over -4% after the homebuilder posted weaker-than-expected FQ2 adjusted EPS. In addition, T-Mobile US (TMUS) slid over -4% after Bloomberg reported that shareholder SoftBank Group sold 21.5 million shares of the wireless network operator to finance its AI initiatives. On the bullish side, Jabil Circuit (JBL) climbed more than +8% and was the top percentage gainer on the S&P 500 after the supplier of electronic parts posted upbeat FQ3 results and raised its full-year revenue guidance. Economic data released on Tuesday showed that U.S. retail sales slumped -0.9% m/m in May, weaker than expectations of -0.5% m/m, while core retail sales, which exclude motor vehicles and parts, unexpectedly fell -0.3% m/m, weaker than expectations of +0.2% m/m. Also, U.S. May industrial production fell -0.2% m/m, weaker than expectations of no change m/m, while manufacturing production rose +0.1% m/m, in line with expectations. In addition, the U.S. import price index was unchanged m/m in May, stronger than expectations of -0.2% m/m. 'Investors should still expect some volatility in economic data due to lingering effects of trade policy. The economy and the consumer are holding up for now, but there are signs of vulnerability. That could present risks in the second half of the year — particularly if we see a further slowdown in jobs or spending,' said Bret Kenwell at eToro. Today, all eyes are focused on the Federal Reserve's monetary policy decision later in the day. The Federal Open Market Committee is widely expected to keep the Fed funds rate unchanged in a range of 4.25% to 4.50%. Market watchers will follow Chair Jerome Powell's post-policy meeting press conference for hints on what could ultimately prompt the central bank to make a move on interest rates and when that might happen. The Fed's quarterly 'dot plot' in its Summary of Economic Projections, which shows FOMC members' forecasts regarding the path of interest rates, will also be closely watched. Economists expect the Fed's rate forecasts to remain largely unchanged – two cuts this year, followed by additional policy rate reductions in 2026. A survey conducted by 22V Research revealed that the current tariff environment would lead to 25 basis points of cuts this year. 'Investors believe that if the dot plot stays at two cuts, it will be because the inflation forecast doesn't move up,' said Dennis DeBusschere, founder of 22V. On the economic data front, investors will focus on U.S. Initial Jobless Claims data, which is set to be released in a couple of hours. Economists expect this figure to be 246K, compared to last week's number of 248K. U.S. Building Permits (preliminary) and Housing Starts data will also be reported today. Economists forecast May Building Permits at 1.420M and Housing Starts at 1.350M, compared to the prior figures of 1.422M and 1.361M, respectively. U.S. Crude Oil Inventories data will be released today as well. Economists foresee this figure standing at -2.300M, compared to last week's value of -3.644M. Meanwhile, the U.S. stock markets will be closed tomorrow in observance of the Juneteenth federal holiday. The markets will reopen on Friday. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.385%, down -0.11%. The Euro Stoxx 50 Index is down -0.02% this morning as investors digest regional inflation data and look ahead to the Fed's interest rate decision. Investors also continued to monitor the conflict between Israel and Iran, which entered its sixth day, with concerns intensifying about more direct U.S. involvement in the conflict. Healthcare stocks lost ground on Wednesday, while defense and bank stocks outperformed. Final data from Eurostat confirmed on Wednesday that the Eurozone's annual inflation rate eased to 1.9% in May from 2.2% in April, falling below the European Central Bank's target for the first time since September 2024. Separately, data showed that U.K. inflation eased slightly in May but remained well above the Bank of England's target, making it unlikely to influence BOE rate setters. Meanwhile, Sweden's central bank lowered its key policy rate by 25 basis points to 2.00% on Wednesday and noted there was a slight possibility of additional easing later this year if economic weakness continues and inflation declines further. Investor focus now turns to the BOE's monetary policy decision on Thursday, with the central bank widely expected to leave its key interest rate unchanged at 4.25%. In corporate news, Airbus SE ( rose over +2% after the planemaker lifted the upper end of its dividend payout target ahead of a business update. European Central Bank Governing Council member Fabio Panetta said on Wednesday that the central bank would maintain a flexible approach to monetary policy decisions amid a backdrop where the conflict between Israel and Iran adds to the risks posed by Washington's trade policy. U.K.'s CPI, U.K.'s Core CPI, Eurozone's CPI, and Eurozone's Core CPI data were released today. U.K. May CPI has been reported at +0.2% m/m and +3.4% y/y, compared to expectations of +0.2% m/m and +3.3% y/y. U.K. May Core CPI came in at +0.2% m/m and +3.5% y/y, in line with expectations. Eurozone May CPI arrived at unchanged m/m and +1.9% y/y, in line with expectations. Eurozone May Core CPI stood at unchanged m/m and +2.3% y/y, in line with expectations. Asian stock markets today closed in the green. China's Shanghai Composite Index (SHCOMP) closed up +0.04%, and Japan's Nikkei 225 Stock Index (NIK) closed up +0.90%. China's Shanghai Composite Index closed just above the flatline today as investors were underwhelmed by the opening of the annual Lujiazui Forum, which offered few new policy signals. Sentiment also remained cautious as Israel and Iran exchanged new missile strikes, extending their conflict into a sixth consecutive day. Technology stocks advanced on Wednesday after China's securities regulator unveiled plans to establish a new segment on Shanghai's tech-focused STAR market aimed at hosting pre-profit growth firms and supporting innovation. The watchdog also said that China will promote the development of science and technology bonds to foster innovation. Also, Li Yunze, the head of China's financial regulator, said that China's financial opening and expanding consumer market benefit the nation and provide improved asset allocation opportunities for global investors. Meanwhile, the country's foreign exchange regulator pledged to maintain stability in the yuan exchange rate and guard against external shocks and risks. With few policy surprises emerging from the forum, investors now turn their attention to the upcoming July Politburo meeting for clearer guidance on economic support. In other news, state media Securities Times reported on Wednesday that China will distribute the remainder of its consumer goods trade-in funds in an orderly manner, and the central government is currently directing local governments to utilize the funds at a steady pace. In corporate news, Li Auto slid over -4% in Hong Kong after Chinese media reported that Meituan founder Wang Xing, a major shareholder in the EV maker, further reduced his stake in the company. Japan's Nikkei 225 Stock Index closed higher today, hitting its highest level in four months. Video game and brokerage stocks led the gains on Wednesday. However, the benchmark index's gains were limited by geopolitical tensions, as investors grew increasingly concerned about the prospect of a more direct U.S. military involvement in the Middle East. Meanwhile, investors also digested a slew of weak economic data from the country that reinforced expectations that the impact of U.S. President Trump's tariffs could limit the Bank of Japan's ability to raise rates. Data from the Ministry of Finance released on Wednesday showed that Japan's exports fell in May for the first time in eight months as major automakers like Toyota were impacted by sweeping U.S. tariffs. Also, Japan's imports dropped in May at the sharpest pace since January 2024. In another sign of waning demand and sentiment potentially linked to the uncertainty, separate data showed that Japan's monthly core machinery orders tumbled in April, marking the weakest reading since April 2020. The data came a day after the BOJ held its policy rate steady amid trade uncertainty, and Governor Kazuo Ueda delivered cautious remarks about the outlook, further delaying expectations for the next rate hike. It remains unclear whether Japan's efforts to secure an exemption from higher U.S. tariffs will succeed. Japanese Prime Minister Shigeru Ishiba said on Tuesday that his country has yet to reach a comprehensive tariff agreement with the U.S., as some disagreements between the two nations remain. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +1.10% to 24.91. The Japanese May Trade Balance came in at -637.6B yen, stronger than expectations of -893.0B yen. The Japanese May Exports arrived at -1.7% y/y, stronger than expectations of -3.8% y/y. The Japanese May Imports stood at -7.7% y/y, weaker than expectations of -6.7% y/y. The Japanese April Core Machinery Orders came in at -9.1% m/m and +6.6% y/y, stronger than expectations of -9.3% m/m and +4.0% y/y. Pre-Market U.S. Stock Movers Circle Internet Group (CRCL) gained more than +3% in pre-market trading after the Senate passed the Genius Act, legislation aimed at regulating stablecoins. Hasbro (HAS) rose nearly +1% in pre-market trading after the Wall Street Journal reported that the toy maker had cut about 3% of its global workforce. La-Z-Boy (LZB) fell over -1% in pre-market trading after the furniture maker posted weaker-than-expected FQ4 adjusted EPS and issued soft FQ1 revenue guidance. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Wednesday - June 18th Korn Ferry (KFY), GMS (GMS), Smith & Wesson (SWBI), Aurora Cannabis (ACB), Euroseas (ESEA). On the date of publication, Oleksandr Pylypenko did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Globe and Mail
02-05-2025
- Business
- Globe and Mail
Stock Index Futures Gain as China Mulls Trade Talks, U.S. Jobs Report in Focus
June S&P 500 E-Mini futures (ESM25) are up +0.30%, and June Nasdaq 100 E-Mini futures (NQM25) are up +0.17% this morning as sentiment got a boost after China said it is assessing the possibility of trade talks with the U.S., with the focus now shifting to the key U.S. payrolls report. China's Commerce Ministry stated on Friday that it had observed senior U.S. officials repeatedly voicing their readiness to engage with Beijing on tariffs, and called on Washington to demonstrate 'sincerity' toward China. 'The U.S. has recently sent messages to China through relevant parties, hoping to start talks with China. China is currently evaluating this,' the ministry added. However, disappointing earnings from Apple and Amazon limited gains in stock index futures. Apple (AAPL) fell over -2% in pre-market trading after the iPhone maker reported weaker-than-expected FQ2 sales in China. Also, (AMZN) slid more than -2% in pre-market trading after the world's largest online retailer provided a below-consensus Q2 operating income forecast. In yesterday's trading session, Wall Street's major indices closed in the green, with the S&P 500 and Dow notching 4-week highs and the Nasdaq 100 posting a 5-week high. Microsoft (MSFT) surged over +7% and was the top percentage gainer on the Dow after the world's largest software maker reported stronger-than-expected FQ3 results and provided an upbeat FQ4 revenue growth forecast for the Azure cloud unit. Also, Meta Platforms (META) climbed more than +4% after the maker of Facebook and Instagram posted upbeat Q1 results. In addition, Nvidia (NVDA) gained over +2% after Bloomberg reported that the U.S. was considering a possible relaxation of restrictions on the chipmaker's sales to the United Arab Emirates. On the bearish side, Becton Dickinson & Co. (BDX) tumbled more than -18% and was the top percentage loser on the S&P 500 after cutting its annual adjusted EPS guidance. Also, Qualcomm (QCOM) slumped over -8% and was the top percentage loser on the Nasdaq 100 after the mobile chip designer provided a tepid FQ3 revenue forecast. Economic data released on Thursday showed that the U.S. ISM manufacturing index fell to a 5-month low of 48.7 in April, though it came in above expectations of 48.0. Also, U.S. March construction spending unexpectedly fell -0.5% m/m, weaker than expectations of +0.2% m/m and the largest decline in 6 months. In addition, the number of Americans filing for initial jobless claims in the past week rose +18K to a 2-month high of 241K, compared with the 224K expected. Meanwhile, U.S. rate futures have priced in a 93.2% probability of no rate change and a 6.8% chance of a 25 basis point rate cut at next week's FOMC meeting. On the earnings front, notable companies like Exxon Mobil (XOM), Chevron (CVX), Cigna (CI), and Apollo Global Management (APO) are slated to release their quarterly results today. According to Bloomberg Intelligence, companies in the S&P 500 are expected to post an average +6.7% increase in quarterly earnings for Q1 compared to the previous year. Today, all eyes are focused on the U.S. monthly payroll report, which is set to be released in a couple of hours. Economists, on average, forecast that April Nonfarm Payrolls will come in at 138K, compared to the March figure of 228K. U.S. Average Hourly Earnings data will also be closely watched today. Economists expect April figures to be +0.3% m/m and +3.9% y/y, compared to the previous numbers of +0.3% m/m and +3.8% y/y. U.S. Factory Orders data will be released today. Economists foresee this figure coming in at +4.4% m/m in March, compared to the previous number of +0.6% m/m. The U.S. Unemployment Rate will be reported today as well. Economists forecast that this figure will remain steady at 4.2% in April. In the bond market, the yield on the benchmark 10-year U.S. Treasury note is at 4.202%, down -0.69%. The Euro Stoxx 50 Index is up +1.35% this morning as signs of a possible easing in U.S.-China trade tensions boosted sentiment, while investors digest a wave of corporate earnings reports and key economic data from the region. Mining and bank stocks led the gains on Friday. The benchmark index is on track to end the week higher. Preliminary data from Eurostat released on Friday showed that the Eurozone's headline inflation remained slightly above the European Central Bank's target in April, while underlying inflation picked up more than expected, likely causing concern among some ECB policymakers. Separately, a survey showed that Eurozone manufacturing output expanded at the quickest rate in just over three years in April, despite overall factory activity staying in contraction territory, as the region's three largest economies showed signs of improvement. In corporate news, Shell Plc ( rose over +3% after the oil major posted better-than-expected Q1 profit and announced a $3.5 billion share buyback. Also, Danske Bank A/S ( gained more than +2% after Denmark's biggest lender reported stronger-than-expected Q1 profit and reaffirmed its full-year profit guidance. In addition, Airbus SE ( climbed over +4% after the planemaker posted upbeat quarterly results and reaffirmed its full-year guidance. Eurozone's Manufacturing PMI, Eurozone's CPI (preliminary), Eurozone's Core CPI (preliminary), and Eurozone's Unemployment Rate were released today. Eurozone April Manufacturing PMI stood at 49.0, stronger than expectations of 48.7. Eurozone April CPI came in at +2.2% y/y, stronger than expectations of +2.1% y/y. Eurozone April Core CPI arrived at +2.7% y/y, stronger than expectations of +2.5% y/y. Eurozone March Unemployment Rate was 6.2%, weaker than expectations of 6.1%. Japan's Nikkei 225 Stock Index (NIK) closed up +1.04%, while mainland China's financial markets were closed for a holiday. Japan's Nikkei 225 Stock Index closed higher today on positive comments from the nation's chief trade negotiator. A weaker yen also boosted appetite for Japanese stocks. In addition, optimism surrounding potential trade talks between China and the U.S. bolstered sentiment across the region. Pharmaceutical and chemical stocks led the gains on Friday. The benchmark index posted its seventh consecutive session of gains, marking its longest winning streak since August 2023. It also notched a third consecutive weekly gain. Japan's top trade representative, Ryosei Akazawa, stated on Thursday that he aims to reach a trade agreement with the U.S. in June, with the high-stakes bilateral talks anticipated to speed up in mid-May. His remarks followed the conclusion of the latest round of talks in Washington. Meanwhile, Japan's Finance Minister Katsunobu Kato said the country's U.S. Treasury holdings could be a card in its trade talks with Washington. 'Whether or not we use that card is a different decision,' he added. On the economic front, government data released on Friday showed that Japan's unemployment rate unexpectedly edged up in March. In corporate news, Yamato Holdings climbed over +5% after the package delivery services provider issued strong full-year operating profit guidance. The Nikkei Volatility Index, which takes into account the implied volatility of Nikkei 225 options, closed up +1.87% to 26.74. The Japanese March Unemployment Rate was 2.5%, weaker than expectations of 2.4%. China's Shanghai Composite Index was closed today for the Labor Day holiday. Mainland China's financial markets will reopen on Tuesday, May 6th. Pre-Market U.S. Stock Movers Apple (AAPL) fell over -2% in pre-market trading after the iPhone maker reported weaker-than-expected FQ2 sales in China. (AMZN) slid more than -2% in pre-market trading after the world's largest online retailer provided a below-consensus Q2 operating income forecast. You can see more pre-market stock movers here Today's U.S. Earnings Spotlight: Friday - May 2nd Exxon Mobil (XOM), Chevron (CVX), Eaton (ETN), Cigna (CI), Apollo Global Management (APO), Natwest Group (NWG), Imperial Oil (IMO), DuPont De Nemours (DD), Cboe Global (CBOE), T Rowe (TROW), Brookfield Renewable (BEP), Westlake Chemical (WLK), Magna Intl (MGA), Franklin Resources (BEN), nVent Electric (NVT), The AES (AES), Fluor (FLR), United States Cellular (USM), Brookfield Business (BBU), Madison Square Garden Sports (MSGS), Piper Sandler (PIPR), Telephone&Data Systems (TDS), Cinemark (CNK), Brightspring Health Services (BTSG), Atmus Filtration Tech (ATMU), The Wendy's Co (WEN), Amneal Pharma (AMRX), Terex (TEX), Arbor (ABR), Criteo Sa (CRTO), Patria Investments (PAX), Perella Weinberg Partners (PWP), WisdomTree (WT), Xenia Hotels & Resorts (XHR), Interface (TILE).
