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Business Times
23-05-2025
- Business
- Business Times
US: Stocks fall on revived Trump trade war worries
[NEW YORK] Wall Street stocks fell on Friday (May 23) on renewed trade war fears as US President Donald Trump's latest tariff threats offset improvements in the US bond market. Trump threatened 25 per cent tariffs on Apple and other smartphone manufacturers whose devices are not built in the United States. The president also vowed to slap a 50 per cent tariff on imports from the European Union, citing a lack of progress in trade negotiations with the bloc. 'Trump basically has renewed tariffs fears,' said Peter Cardillo of Spartan Capital Securities. 'It's a down day.' Major US indices spent the entire session in the red, with the Dow Jones Industrial Average finishing down 0.6 per cent at 41,603.07. The broad-based S&P 500 dropped 0.7 per cent to 5,802.82, while the tech-rich Nasdaq Composite Index dropped 1 per cent to 18,737.21. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Trump's latest tariff statements conclude a week in which trade issues had earlier taken a back seat to congressional debate on Trump's sweeping tax cut measures. The bill, which narrowly passed the House of Representatives on Thursday, now goes to the Senate. US Treasury yields had spiked earlier in the week amid concerns the bill will increase US debt. But yields retreated on Friday in a sign demand for US issues had improved. Among individual companies, Apple fell 3 per cent on Friday following Trump's tariff threat. AFP
Business Times
14-05-2025
- Business
- Business Times
US: Stocks mostly rise ahead of retail sales data
[NEW YORK] Wall Street stocks finished mostly higher on Wednesday following a choppy session as markets look ahead to key US retail sales and inflation data. Analysts described the indecisive session as reflective of a quiet day for macroeconomic news after markets soared on Monday on a favourable US-China trade announcement before mostly extending those gains on Tuesday. 'Investors are just taking a little bit of a pause after yesterday's strong gains and we're waiting for tomorrow's macro news,' said Peter Cardillo of Spartan Capital Securities. The Dow Jones Industrial Average finished down 0.2 per cent at 42,051.06. The broad-based S&P 500 edged up 0.1 per cent to 5,892.58, while the tech-rich Nasdaq Composite Index gained 0.7 per cent to 19,146.81. After stocks tumbled in early April following sweeping tariff actions announced by US President Donald Trump, the market has rebounded as Trump has retreated from many of the actions. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Analysts have mixed views on whether the market could still go much higher. Those perspectives were outlined in a note from CFRA Research's Sam Stovall, who concluded that, based on the breadth of recent stock market gains, 'CFRA sees additional upside ahead.' Among individual companies, Boeing added 0.8 per cent after reaching a large airplane deal with Qatar Airways. Under a deal announced by Trump, Qatar Airways will acquire up to 210 Boeing 787 Dreamliner and 777X aircraft. Markets are looking ahead to reports on Thursday on wholesale prices and retail sales for April, as well as earnings from retail behemoth Walmart. AFP
RTHK
14-05-2025
- Business
- RTHK
US stocks mostly rise ahead of retail sales data
US stocks mostly rise ahead of retail sales data Wall Street investors are awaiting US retail sales and inflation data. Photo: AFP Wall Street stocks finished mostly higher on Wednesday following a choppy session as markets look ahead to key US retail sales and inflation data. Analysts described the indecisive session as reflective of a quiet day for macroeconomic news after markets soared Monday on a favourable US-China trade announcement before mostly extending those gains on Tuesday. "Investors are just taking a little bit of a pause after yesterday's strong gains and we're waiting for tomorrow's macro news," said Peter Cardillo of Spartan Capital Securities. The Dow Jones finished down 0.2 percent at 42,051. The S&P 500 edged up 0.1 percent to 5,892, while the Nasdaq gained 0.7 percent to 19,146. After stocks tumbled in early April following sweeping tariff actions announced by US President Donald Trump, the market has rebounded as Trump has retreated from many of the actions. Analysts have mixed views on whether the market could still go much higher. Those perspectives were outlined in a note from CFRA Research's Sam Stovall, who concluded that, based on the breadth of recent stock market gains, "CFRA sees additional upside ahead." Among individual companies, Boeing added 0.8 percent after reaching a large airplane deal with Qatar Airways. Under a deal announced by Trump, Qatar Airways will acquire up to 210 Boeing 787 Dreamliner and 777X aircraft. Markets are looking ahead to reports on Thursday on wholesale prices and retail sales for April, as well as earnings from retail behemoth Walmart. (AFP)
RTHK
14-05-2025
- Business
- RTHK
US stocks mostly rise ahead of retail sales data
US stocks mostly rise ahead of retail sales data Wall Street investors are awaiting US retail sales and inflation data. Photo: AFP Wall Street stocks finished mostly higher on Wednesday following a choppy session as markets look ahead to key US retail sales and inflation data. Analysts described the indecisive session as reflective of a quiet day for macroeconomic news after markets soared Monday on a favourable US-China trade announcement before mostly extending those gains on Tuesday. "Investors are just taking a little bit of a pause after yesterday's strong gains and we're waiting for tomorrow's macro news," said Peter Cardillo of Spartan Capital Securities. The Dow Jones finished down 0.2 percent at 42,051. The S&P 500 edged up 0.1 percent to 5,892, while the Nasdaq gained 0.7 percent to 19,146. After stocks tumbled in early April following sweeping tariff actions announced by US President Donald Trump, the market has rebounded as Trump has retreated from many of the actions. Analysts have mixed views on whether the market could still go much higher. Those perspectives were outlined in a note from CFRA Research's Sam Stovall, who concluded that, based on the breadth of recent stock market gains, "CFRA sees additional upside ahead." Among individual companies, Boeing added 0.8 percent after reaching a large airplane deal with Qatar Airways. Under a deal announced by Trump, Qatar Airways will acquire up to 210 Boeing 787 Dreamliner and 777X aircraft. Markets are looking ahead to reports on Thursday on wholesale prices and retail sales for April, as well as earnings from retail behemoth Walmart. (AFP)
Business Recorder
09-05-2025
- Business
- Business Recorder
Wall St rises after US-Britain trade deal
NEW YORK: Wall Street's main indexes climbed more than 1% each on Thursday as investors assessed a new trade agreement between the United States and Britain, the first such trade deal the US has signed after President Donald Trump paused tariffs last month. Britain agreed to lower its tariffs to 1.8% from 5.1% and provide greater access to US goods as part of the deal, while a 10% baseline tariff on goods imported from the UK into the US remains in place. Airline stocks jumped after the US-UK agreement exempted plane parts made by Rolls-Royce from tariffs, with the S&P Passenger Airlines Index up 5.3%. US Commerce Secretary Howard Lutnick said the UK would buy $10 billion of Boeing aircraft, sending the planemaker's shares up 3.5%. Trump said he expects substantive negotiations between the US and Beijing on the trade front this weekend. He also said tariffs on Chinese imports could not get higher than 145%. 'This is what the market has been looking for... some sort of a breakthrough. This does not put to rest some of the uncertainties regarding the trade war effects, but it's a start,' said Peter Cardillo, chief market economist at Spartan Capital Securities. At 11:56 a.m. ET, the Dow Jones Industrial Average rose 516.11 points, or 1.26%, to 41,630.08, the S&P 500 gained 68.03 points, or 1.21%, to 5,699.31, and the Nasdaq Composite gained 280.94 points, or 1.58%, to 18,019.10. Energy stocks led gains among the S&P 500's 11 sectors with a 2.4% rise, tracking a jump in crude prices. The domestically focused Russell 2000 small-cap index added 2% and touched a more than one-month high. Most megacap and growth stocks were higher, with Tesla leading gains with a 4.7% rise. Semiconductor stocks inched 1.9% higher, building on the previous session's gains after a spokesperson said the Trump administration was planning to rescind and modify a rule that curbed the export of sophisticated artificial-intelligence chips. The US Federal Reserve held interest rates steady on Wednesday and flagged heightened risks of inflation and unemployment, further clouding the economic outlook for the world's largest economy. Traders now see a rate cut only by September and are pricing in a total of 73 basis points of lowering by 2025-end, according to data compiled by LSEG.
