Latest news with #StandardandPoor
Canada News.Net
2 days ago
- Business
- Canada News.Net
U.S. stock markets and dollar edge higher on Trump trade deal with Europe
NEW YORK, New York - U.S. stock markets made little headway Monday, despite the trade deal negotiated by U.S. President Donald Trump in Scotland on the weekend. Negotiators lined up at Trump's Scottish golf resort with Trump himself, and European Commission President Ursula von der Leyen leading the way. The deal, largely resulting in each side inflicting tariffs of 15 percent, was seen more as a win for the United States, with European shares on Monday taking a bath. The U.S. dollar rallied with the dollar index leaping more than 1 percent. The Standard and Poor's 500 and Nasdaq Composite both closed at new record highs, although gains were subdued. Following is a roundup of Monday's closing quotes for key stock indices around the world: U.S. Markets S&P 500 (^GSPC): Rose slightly to 6,389.77, up 1.13 points (0.02 percent). Dow Jones Industrial Average (^DJI): Fell to 44,837.56, down 64.36 points (0.14 percent). NASDAQ Composite (^IXIC): Gained 70.27 points (0.33 percent) to 21,178.58. NYSE Composite (^NYA): Dropped 129.17 points (0.62 percent) to 20,821.28. Russell 2000 (^RUT): Slipped 4.34 points (0.19 percent) to 2,256.73. CBOE Volatility Index (^VIX): Inched up 0.10 points (0.67 percent) to 15.03. European Markets FTSE 100 (^FTSE): Declined 38.87 points (0.43 percent) to 9,081.44. DAX (^GDAXI): Tumbled 247.14 points (1.02 percent) to 23,970.36. CAC 40 (^FCHI): Lost 33.70 points (0.43 percent) to 7,800.88. EURO STOXX 50 (^STOXX50E): Fell 14.58 points (0.27 percent) to 5,337.58. BEL 20 (^BFX): Dipped 15.35 points (0.33 percent) to 4,594.12. Asia and Pacific Markets Nikkei 225 (^N225): Sank 457.96 points (1.10 percent) to 40,998.27. Hang Seng Index (^HSI): Rose 173.78 points (0.68 percent) to 25,562.13. SSE Composite ( Edged up 4.28 points (0.12 percent) to 3,597.94. S&P/ASX 200 (^AXJO): Gained 30.80 points (0.36 percent) to 8,697.70. KOSPI (^KS11): Advanced 13.47 points (0.42 percent) to 3,209.52. TWSE (^TWII): Added 48.60 points (0.21 percent) to 23,412.98. IDX Composite (^JKSE): Jumped 71.27 points (0.94 percent) to 7,614.77. STI Index (^STI): Fell 19.92 points (0.47 percent) to 4,241.14. FTSE Bursa Malaysia KLCI (^KLSE): Slipped 4.38 points (0.29 percent) to 1,529.38. S&P/NZX 50 (^NZ50): Gained 57.28 points (0.45 percent) to 12,910.74. Canadian Markets S&P/TSX Composite (^GSPTSE): Declined 88.93 points (0.32 percent) to 27,405.42. Latin America IBOVESPA (^BVSP): Plunged 1,394.92 points (1.04 percent) to 132,129.27. IPC Mexico (^MXX): Fell 239.58 points (0.42 percent) to 57,083.56. S&P IPSA (^IPSA): Dropped sharply by 147.59 points (1.80 percent) to 8,074.31. MERVAL (^MERV): Surged 16,471.75 points (0.75 percent) to 2,213,570.25. Middle East & Africa
Business Recorder
5 days ago
- Politics
- Business Recorder
PARTLY FACETIOUS: ‘Have we ever been rated as investment grade?'
'Hallelujah!' 'Hallelujah is Hebrew and can be broken down into two words – halel means joyous song, praise, and Yah is a shortened form of Yahweh or Jehovah, Allah.' 'Why did you do that?' 'Do what? I merely translated…' 'Why did you translate the Hebrew Yahweh into the Muslim Allah?' 'Dear me, learn to distinguish between Judaism as a religion and Zionism as a policy of a state that justifies genocide and…' 'It's hard given what Israel is doing, but anyway that's not why I said Hallelujah.' 'I know why you said it. Because we have been upgraded by Standard and Poor's from CCC (substantial risk) to B- (highly speculative) which, as per the definition on their website, retains us in the junk category.' 'I believe we would need six more upgrades to get out of the junk category and into the investment grade category.' 'Have we ever been rated as investment grade?' 'Never, I believe the highest rating we got was B+.' 'There you go so we need only two more upgrades to reach the historic high.' 'Why do you keep the bar so low?' 'Why do you take it up so high – I mean to me, it means that you are succumbing to hopelessness and last I heard this is not the Islamic way and…' 'I was merely trying to point out to the SPs that it's rather a long road and…' 'SPs?' 'Same Pagers – we need to aim higher than the historic high, and we need…' 'OK, but remember one thing. In a world gone crazy…' 'Yes, but there is change – the under 40s in the West including the US, and President Trump's support base are all challenging the Israel First Policy of successive US administrations…' 'That has not changed policy yet, that would require another twenty to thirty years, when these under 40s take over the reins of government and…' 'Hamm and you have Germany that allowed the US to blow up the Nordstream pipeline that had supplied cheap Russian fuel to German industries resulting in German deindustrialization, you have Ursula Von Der Layen, a German heading the European Union, hell-bent to compel member states to borrow hundreds of billions to set up a defence industry capable of fighting Russia, and…' 'Hatred does more harm to the hater than the hatee I reckon, and especially when there is unreasoning hatred….' 'I heard the cabinet collectively hates The Man Who Must Remain…' 'Good that you mentioned collective, because the 2016 Supreme Court verdict in the Mustafa Impex case insisted that the cabinet instead of the prime minister can take a decision…' 'Don't be facetious.' 'Hallelujah.' Copyright Business Recorder, 2025
Canada News.Net
5 days ago
- Business
- Canada News.Net
Wall Street climbs again, U.S. dollar bounces higher
NEW YORK, New York - U.S. stock markets made solid ground Friday, sending all the key indices out with weekly gains. The Standard and Poor's 500 climbed to another all-time high. "The bull market lives on, supported largely by favorable fundamentals," Terry Sandven, chief equity strategist at U.S. Bank Wealth Management, told CNBC Friday. "Inflation is stable, interest rates are range-bound and earnings are trending higher, and that presents a favorable backward drop for stocks to trend higher. We still look for a risk-on bias to be intact as we move through this earnings season," Sandven said. Key U.S. Index Performances Standard and Poor's 500 (^GSPC): The broad-market benchmark rose 25.29 points, or 0.40 percent, closing at 6,388.64, supported by gains in tech and financial sectors. Trading volume reached 2.959 billion shares. Dow Jones Industrial Average (^DJI): The blue-chip index climbed 208.01 points, or 0.47 percent, settling at 44,901.92, with 367.553 million shares traded. NASDAQ Composite (^IXIC): The tech-heavy index advanced 50.36 points, or 0.24 percent, to 21,108.32, as heavyweight tech stocks saw mixed movements. Trading volume hit 10.07 billion shares. Market Drivers Investors welcomed strong earnings reports from major U.S. banks and tech firms, while easing inflation concerns bolstered sentiment. The Federal Reserve's recent signals of a potential pause in rate hikes also contributed to the upward momentum. Outlook Analysts expect markets to remain sensitive to upcoming economic data, including next week's jobs report and consumer spending figures. Any surprises could influence the Fed's policy path and market direction. Global Forex Markets Show Mixed Movements as Dollar Gains Against Major Currencies The foreign exchange market traded Friday with the U.S. dollar strengthening against several major currencies, while the euro and British pound faced selling pressure amid shifting economic sentiment. Friday's Key Currency Movements EUR/USD (Euro to US Dollar): The euro dipped slightly to 1.1744, down 0.02 percent as traders weighed European Central Bank policy expectations. USD/JPY (US Dollar to Japanese Yen): The dollar rose 0.41 percent to 147.59 yen, amid widening US-Japan yield differentials. USD/CAD (US Dollar to Canadian Dollar): The greenback climbed 0.55 percent to 1.3707, supported by weaker oil prices and a dovish Bank of Canada stance. GBP/USD (British Pound to US Dollar): Sterling fell sharply by 0.53 percent to 1.3433, pressured by disappointing UK retail sales data. USD/CHF (US Dollar to Swiss Franc): The dollar was nearly flat at 0.7948, edging down just 0.02 percent in cautious trading. AUD/USD (Australian Dollar to US Dollar): The Aussie declined 0.41 percent to 0.6562, after earlier hitting a multi-month high of 0.6633, reflecting risk-off sentiment in Asian markets. NZD/USD (New Zealand Dollar to US Dollar): The kiwi slipped 0.23 percent to 0.6013, tracking broader commodity currency weakness. Market Drivers The dollar's gains came as investors adjusted positions ahead of next week's Federal Reserve meeting, where policymakers are expected to maintain higher-for-longer interest rates. Meanwhile, the yen's slide reignited intervention concerns, with Tokyo officials warning against "excessive volatility." Technical Analysis: "The EUR/USD is testing key support at 1.1720; a break lower could signal further downside." Global Markets Close Mixed on Friday as Key Indices Show Varied Performance Global stock markets ended the week with a mixed performance on Friday, as major indices saw fluctuations amid ongoing economic uncertainty. Canadian Markets North of the U.S. border, the S&P/TSX Composite Index (^GSPTSE) gained 122.09 points, or 0.45 percent, closing at 27,494.35, with 189.981 million shares exchanged. The rally was led by energy and materials stocks as commodity prices stabilized. European Markets The FTSE 100 (^FTSE) in London dipped slightly, closing at 9,120.31, down 18.06 points or 0.20 percent. Meanwhile, Germany's DAX (^GDAXI) fell 78.43 points or 0.32 percent to 24,217.50. France's CAC 40 (^FCHI) bucked the trend, gaining 16.30 points or 0.21 percent to 7,834.58. The broader Euro Stoxx 50 (^STOXX50E) edged down 3.04 points or 0.06 percent to 5,352.16, while Belgium's BEL 20 (^BFX) lost 7.85 points or 0.17 percent, closing at 4,609.47. Asia and Pacific Markets Asian markets were mostly lower, with Hong Kong's Hang Seng (^HSI) dropping sharply by 278.83 points or 1.09 percent to 25,388.35. Singapore's STI (^STI) declined 11.99 points or 0.28 percent to 4,261.06. Australia's S&P/ASX 200 (^AXJO) fell 42.50 points or 0.49 percent to 8,666.90, while the All Ordinaries (^AORD) dropped 45.10 points or 0.50 percent to 8,934.30. However, Indonesia's IDX Composite (^JKSE) rose 12.60 points or 0.17 percent to 7,543.50, and New Zealand's NZX 50 (^NZ50) gained 48.33 points or 0.38 percent, closing at 12,853.46. Malaysia's KLSE (^KLSE) slipped 6.56 points or 0.43 percent to 1,533.76. India's Sensex (^BSESN) slid 721.08 points or 0.88 percent to 81,463.09. South Korea's KOSPI (^KS11) inched up 5.60 points or 0.18 percent to 3,196.05. Taiwan's TWSE (^TWII) dipped slightly by 9.35 points or 0.04 percent to 23,364.38. Japan's Nikkei 225 (^N225) dropped 370.11 points or 0.88 percent to 41,456.23. China's Shanghai Composite ( fell 12.07 points or 0.33 percent to 3,593.66. Middle East Markets Mideast markets were mostly closed on Friday and will re-open on Sunday. African Markets
Canada News.Net
6 days ago
- Business
- Canada News.Net
U.S. stocks have meandering day Thursday, Dow drops more than 300 points
NEW YORK, New York - U.S. stocks were on the defensive Thursday. The Dow Jones index corrected its recent hefty gains, finishing with a more than 300 points loss, while the Nasdaq Composite and Standard and Poor's 500 edged up, after hitting earlier intraday all-time highs. Better-than-expected results from Alphabet boosted market sentiment. "Given the size and influence of big tech and [artificial intelligence], I think the Alphabet results were a nice little tailwind for a market that's constantly asking the question of whether all the AI spend is going to have have solid return on investment]or whether this can continue," Ross Mayfield, investment strategist at Baird, told CNBC Thursday. "At least at the beginning of earnings season here, Alphabet provided a nice data point that the answer is positive," he said. 🔹 U.S. Markets S&P 500 (^GSPC): 6,363.35 ▲ +4.44 (+0.07 percent) Dow Jones (^DJI): 44,693.91 ▼ -316.38 (-0.70 percent) Nasdaq (^IXIC): 21,057.96 ▲ +37.94 (+0.18 percent) NYSE Composite (^NYA): 20,853.42 ▼ -68.42 (-0.33 percent) NYSE American (^XAX): 6,072.89 ▼ -4.96 (-0.08 percent) Russell 2000 (^RUT): 2,252.13 ▼ -31.00 (-1.36 percent) U.S. Dollar Edges Higher as Markets Await Key Economic Data The U.S. dollar showed modest strength against major currencies in Thursday's trading session, while the British pound held steady in cautious trading ahead of key economic data releases. Key Currency Movements EUR/USD: The euro inched up 0.04 percent to 1.1751, struggling to find momentum amid mixed Eurozone economic signals. USD/JPY: The dollar gained 0.04 percent against the yen, trading at 147.05 as Bank of Japan policy uncertainty weighed on the Japanese currency. USD/CAD: The greenback rose 0.09 percent to 1.3645 versus the Canadian dollar as oil price fluctuations influenced the commodity-linked loonie. GBP/USD: Sterling held flat at 1.3504, showing no change as traders awaited UK retail sales data. USD/CHF: The dollar edged up 0.02 percent to 0.7952 against the Swiss franc in quiet safe-haven trading. AUD/USD: The Australian dollar gained 0.05 percent to 0.6592, supported by improved risk sentiment in Asian markets. NZD/USD: The New Zealand dollar also rose 0.05 percent to 0.6030, mirroring its Aussie counterpart's movements. Market Drivers Forex markets remained in a holding pattern Thursday as traders awaited Friday's crucial U.S. PCE inflation data - the Federal Reserve's preferred price gauge. The dollar's modest gains reflected: Analyst Outlook "Currency markets are clearly in wait-and-see mode," said Maria Chen, senior FX strategist at Global Markets Capital. "The dollar's slight firming suggests markets are pricing in a potentially hawkish Fed, but we need to see tomorrow's inflation numbers for clearer direction." Up Next: All eyes turn to Friday's U.S. core PCE price index and Eurozone inflation figures for fresh trading catalysts. Global Markets Close Mixed on Thursday; Nikkei Surges Again Global equities showed a split performance on Thursday. Asian markets were strong, led by Japan's Nikkei 225, while European and some emerging markets saw modest declines. 🔹Canadian Markets 🔹 UK and European Markets FTSE 100 (^FTSE): 9,138.37 ▲ +76.88 (+0.85 percent) DAX (^GDAXI): 24,295.93 ▲ +55.11 (+0.23 percent) CAC 40 (^FCHI): 7,818.28 ▼ -32.15 (-0.41 percent) Euro Stoxx 50 (^STOXX50E): 5,355.20 ▲ +10.95 (+0.20 percent) BEL 20 (^BFX): 4,617.32 ▲ +21.10 (+0.46 percent) 🔹 Asia and Pacific Markets Nikkei 225 (^N225): 41,826.34 ▲ +655.02 (+1.59 percent) (Japan) Hang Seng (^HSI): 25,667.18 ▲ +129.11 (+0.51 percent) (Hong Kong) Shanghai Comp. ( 3,605.73 ▲ +23.43 (+0.65 percent) (China) KOSPI (^KS11): 3,190.45 ▲ +6.68 (+0.21 percent) (South Korea) TWSE (^TWII): 23,373.73 ▲ +55.06 (+0.24 percent) (Taiwan) S&P/ASX 200 (^AXJO): 8,709.40 ▼ -27.80 (-0.32 percent) (Australia) All Ordinaries (^AORD): 8,979.40 ▼ -22.00 (-0.24 percent) (Australia) STI Index (^STI): 4,273.05 ▲ +41.77 (+0.99 percent) (Singapore) S&P/NZX 50 (^NZ50): 12,814.17 ▲ +9.04 (+0.07 percent) (New Zealand) Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India) IDX Composite (^JKSE): 7,530.90 ▲ +61.67 (+0.83 percent) (Indonesia) KLSE (^KLSE): 1,540.32 ▲ +10.53 (+0.69 percent) (Malaysia) 🔹 Latin American Markets Sensex (^BSESN): 82,184.17 ▼ -542.47 (-0.66 percent) (India) Bovespa (^BVSP): 133,807.59 ▼ -1,560.67 (-1.15 percent) (Brazil) IPC Mexico (^MXX): 57,035.90 ▲ +557.00 (+0.99 percent) (Mexico) S&P IPSA (^IPSA): 8,141.82 ▲ +1.12 (+0.01 percent) (Chile) MERVAL (^MERV): 2,135,086.50 ▲ +51,409.38 (+2.47 percent) (Argentina) 🔹 Middle East Markets TA-125 (^ 3,115.02 ▼ -37.44 (-1.19 percent) (Israel) EGX 30 (^CASE30): 34,125.10 ▲ +321.80 (+0.95 percent) (Egypt) 🔹 African Markets 🔸 Market Summary
Canada News.Net
23-07-2025
- Business
- Canada News.Net
Wall Street makes hay on Trump trade deals
NEW YORK, New York - U.S. stocks rose sharply Wednesday as investors and traders started to come round to the benefits of recent trade deals secured by President Trump. Following the trade deal negotiated with the Philippines earlier in the week, Trump on Wednesday announced what he called a "massive" trade deal with Japan,. "So far, the tariff strategy Trump is pursuing looks very inspired, generating serious income, resulting in major investments in the U.S. to avoid the tariffs, and has yet to cause the disruptions and inflation that the naysayers said were certain," Louis Navellier, founder and chief investment officer at Navellier & Associates told CNBC Wednesday. "The stock market certainly reflects no fear of negative consequences." The Wall Street rally on Wednesday, saw the Dow Jones Industrial Average surging more than 500 points as strong corporate earnings and easing inflation concerns boosted investor sentiment. The Standard and Poor's 500 and Nasdaq Composite also posted solid gains. U.S. Markets Rally Broadly The Dow Jones Industrial Average (^DJI) led the charge, climbing 507.85 points or 1.14 percent to close at 45,010.29, marking its best day in three weeks. The blue-chip index was lifted by gains in financial and industrial stocks. The Standard and Poor's 500 (^GSPC), a broader measure of U.S. equities, advanced 49.33 points or 0.78 percent to finish at 6,358.95, with all 11 sectors ending in positive territory. The technology-heavy Nasdaq Composite (^IXIC) rose 127.33 points or 0.61 percent to 21,020.02, supported by rebounds in major tech names. Market Drivers Analysts attributed Wednesday's bullish momentum to: Global Forex Markets Show Mixed Movements Wednesday as Euro and Pound Gain Against the Dollar The foreign exchange market saw mixed trading on Wednesday, with the euro and British pound strengthening against the US dollar, while the yen and Canadian dollar weakened slightly. Key Currency Movements The euro (EUR/USD) rose 0.16 percent, trading at 1.1772, as investors weighed the latest economic data from the Eurozone. Meanwhile, the British pound (GBP/USD) climbed 0.40 percent to 1.3579, supported by stronger-than-expected UK retail sales figures. The U.S. dollar (USD/JPY) dipped 0.03 percent against the Japanese yen, settling at 146.54, as traders awaited further signals from the Sunday's election results. The greenback also edged lower against the Canadian dollar (USD/CAD), falling 0.06 percent to 1.3596, following a rebound in oil prices. Commodity Currencies Strengthen The Australian dollar (AUD/USD) surged 0.71 percent to 0.6599, its highest level in a week, boosted by rising commodity demand. Similarly, the New Zealand dollar (NZD/USD) gained 0.71 percent, reaching 0.6043, as risk appetite improved in Asian trading. The Swiss franc (USD/CHF) saw minimal movement, with the dollar inching up 0.03 percent to 0.7920, as markets remained cautious. Market Outlook Analysts attributed the euro and pound's gains to shifting expectations on U.S. President Donald Trump's trade policies, while commodity-linked currencies benefited from stronger global risk sentiment. Global Markets Close Higher on Wednesday, Led by Strong Gains in Asia and Europe Global stock markets mostly climbed higher on Wednesday, with major indices across Europe and Asia posting solid gains, while the Nikkei 225 surged more than 3 percent. Canadian Market Sees Modest Gains North of the U.S. border, the S&P/TSX Composite Index (^GSPTSE) in Toronto added 51.98 points or 0.19 percent to close at 27,416.41. The more muted performance reflected mixed movements in energy and materials stocks as commodity prices fluctuated. UK and European Markets Rally The FTSE 100 (UK) rose 37.68 points, or 0.42 percent, closing at 9,061.49. Meanwhile, Germany's DAX jumped 198.92 points, or 0.83 percent, to 24,240.82, and France's CAC 40 surged 106.02 points, or 1.37 percent, ending at 7,850.43. The broader EURO STOXX 50 index gained 53.77 points, up 1.02 percent, settling at 5,344.25. Belgium's BEL 20 also climbed 48.81 points, a 1.07 percent increase, closing at 4,596.22. Asian and Pacific Markets Show Strength In Asia, Japan's Nikkei 225 soared 1,396.40 points, or 3.51 percent, to 41,171.32, marking one of the strongest performances globally. Hong Kong's Hang Seng Index rose 408.04 points, or 1.62 percent, finishing at 25,538.07. Singapore's STI Index edged up 23.02 points, or 0.55 percent, to 4,231.28, while Australia's S&P/ASX 200 gained 60.00 points, or 0.69 percent, closing at 8,737.20. The broader All Ordinaries index in Australia added 59.90 points, or 0.67 percent, ending at 9,001.40. India's S&P BSE SENSEX climbed 539.83 points, or 0.66 percent, to 82,726.64, and Indonesia's IDX Composite surged 124.49 points, or 1.70 percent, to 7,469.23. Malaysia's KLSE rose 10.39 points, or 0.68 percent, closing at 1,529.79. In Taiwan', the TWSE Index advanced 330.75 points, or 1.44 percent, to 23,318.67, while South Korea's KOSPI gained 13.83 points, or 0.44 percent, ending at 3,183.77. China's Shanghai Composite inched up just 0.44 points, or 0.01 percent, to 3,582.30. In New Zealand the S&P/NZX 50 was one of the few decliners, slipping 39.68 points, or 0.31 percent, to 12,794.06. Egypt's EGX 30 also dipped slightly, losing 4.50 points, or 0.01 percent, to 34,125.10. Israel's TA-125 rose 36.36 points, or 1.17 percent, to 3,152.46. African markets on the rise
