Latest news with #TradeNation
New Straits Times
2 days ago
- Business
- New Straits Times
Stock markets rise as traders eye possible Trump-Xi talks
NEW YORK: Major stock markets rose and the dollar climbed as investors kept tabs on the China-US trade war, with speculation swirling that the countries' leaders will soon hold talks. After a period of relative calm on tariffs, US President Donald Trump accused Beijing last week of violating an earlier deal to temporarily lower staggeringly high tit-for-tat levies and unveiled plans to double tolls on steel and aluminium. "Trade tensions threatened a sharp sell-off on Monday, before news that President Trump and President Xi (Jinping) would speak on the phone helped to ease fears," said Kathleen Brooks, research director at XTB. Hong Kong and Shanghai stock markets closed higher Tuesday, and Wall Street made solid gains. Trade Nation analyst David Morrison noted that investors had been largely brushing off negative news about the economy linked to Trump's tariffs. "Many remain convinced that Mr Trump's trade wars will soon come to an end, perhaps basing this view on 'TACO', or Trump Always Chickens Out," he said. Europe's main indices also pushed higher despite the collapse of the Dutch government. Far-right Dutch leader Geert Wilders withdrew his party from the government in a row over immigration, bringing down a shaky coalition and likely ushering in snap elections. It opens up a period of political uncertainty in the Netherlands -- the European Union's fifth-largest economy and a major exporter -- as far-right parties make gains across the continent. The Netherlands is part of the eurozone, where official data on Tuesday showed the area's inflation eased in May to its lowest level in eight months, back below the European Central Bank's two-per cent target. The ECB had already been widely expected to cut eurozone interest rates this week, putting pressure on the euro. Among companies, Nvidia shares gained 2.8 per cent as it overtook Microsoft as the biggest US company by market value. Overall, investors were focused on the United States and China. Officials from both sides are set for talks on the sidelines of an Organisation for Economic Cooperation and Development ministerial meeting Wednesday in Paris. The OECD on Tuesday slashed its 2025 growth outlook for the global economy to 2.9 per cent from 3.1 per cent previously expected. It also said the US economy would expand by 1.6 per cent, down from an earlier estimate of 2.2 per cent. The group noted that "substantial increases" in trade barriers, tighter financial conditions, weaker business and consumer confidence, as well as heightened policy uncertainty would all have "marked adverse effects on growth" if they persist. "For everyone, including the United States, the best option is that countries sit down and get an agreement," OECD chief economist Alvaro Pereira told AFP. Data on Tuesday indicated Chinese factory activity shrinking at its fastest pace since September 2022. Also in focus was Trump's signature "big, beautiful bill," headlined by tax cuts slated to add up to US$3.0 trillion to the nation's debt at a time of heightened worries over the country's finances. US senators have started what is certain to be fierce debate over the policy package, which partially covers an extension of Trump's 2017 tax relief through budget cuts projected to strip health care from millions of low-income Americans. Crude prices rose on concerns that Canadian wildfires could impact oil supplies.
Daily Tribune
28-05-2025
- Business
- Daily Tribune
Stocks climb as US-EU trade tensions ease
Wall Street shares bounced yesterday, catching up to a European rally after US President Donald Trump delayed huge tariffs on imports from the EU over the long holiday weekend. New York's main stock markets all rebounded as trading resumed in New York after the Memorial Day weekend, with the broad-based S&P 500 gaining more than one% and the tech-heavy Nasdaq up 1.4%. The Frankfurt stock market rose 0.6% while Paris was flat in afternoon deals following Monday's rally in Europe. Trump sent markets into a tailspin Friday when he threatened to hit EU goods with a 50% tariff from June 1, saying talks were 'going nowhere'. But after a phone call Sunday with EU chief Ursula von der Leyen, Trump delayed the levies until July 9 to give more time for negotiations. EU trade commissioner Maros Sefcovic said Monday following calls with top US officials that the bloc remains 'fully committed' to reaching a trade agreement with the United States. 'This postponement has helped soothe tensions following last week's turbulence and is widely viewed as a temporary de-escalation in the ongoing trade dispute,' said David Morrison, senior market analyst at financial services firm Trade Nation. Analysts cautioned, however, that Trump's trade policies have been erratic.
Business Insider
12-05-2025
- Business
- Business Insider
It's official: US stocks have now recovered all of their historic Liberation Day losses
Stocks have recouped their losses since Trump's Liberation Day tariffs first tanked markets, with investors on Monday cheering a big de-escalation in the US-China trade war. Major stock averages surged at the opening bell as investors reacted to the progress on trade negotiations with China announced on Sunday. The S&P 500, which plummeted as much as 12% in the days following April 2nd, was up over 3% since tariffs first came into effect. The Dow Jones Industrial Average, which fell as much as 10%, edged into positive territory on Monday, rising 0.19% since April 2. The Nasdaq 100, which was the first to fully recover its losses since the historic tariffs-fueled sell-off, was up more than 6% on Monday since April 2. The index, which is up 17% from its low on April 8, is on track to end Monday's session in a bull market, which is defined as a 20% gain from the most recent low. Here are the gains for the major indexes since April 2. Nasdaq 100 S&P 500 S&P 500 Dow Jones Industrial Average Dow Here's where major indexes stood shortly after at the 9:30 a.m. opening bell on Monday: "The market reaction was quick and spectacular," David Morrison, a senior market analyst at Trade Nation, wrote in a note. "It's almost as if it never happened. Although we know it did. And investors appear to have forgotten that significant trade damage has already been inflicted." US-China trade tensions have been one of the biggest headwinds for the market since the sweeping tariff announcement last month. After Trump paused most reciprocal tariffs on April 9, he kept pressure up on China by increasing the tariff rate on goods from the country to 145%. The agreement over the weekend will see the US slash tariffs on Chinese goods from 145% to 30%, while China cuts its tariffs on US imports from 125% to 10%. "I would imagine in the next few weeks we will be meeting again to get rolling on a more fulsome agreement," US Treasury Secretary Scott Bessent, who spoke with Chinese officials over the weekend, told CNBC on Monday. Markets were up broadly on the news. The US tech sector rallied, while stocks in Asia also ended the day higher.
Free Malaysia Today
07-05-2025
- Business
- Free Malaysia Today
Stocks retreat as traders cautious before Fed rates call
Traders appeared to have cashed in on gains and retreated to the sidelines as they awaited the Federal Reserve's FOMC meeting. (AP pic) NEW YORK : Stock markets mostly dropped on Tuesday as investors awaited a Federal Reserve interest-rate decision while anticipating US trade deal breakthroughs that have yet to materialise. Stocks had risen most of the last two weeks in anticipation of progress on the trade front as US President Donald Trump and top appointees play up the negotiations. But major US indices spent the entire Tuesday session in the red, with the Dow Jones Industrial Average finishing down one percent. The market 'seems to be disappointed over the fact that we're not hearing any trade deal news,' said Art Hogan of B. Riley Wealth Management. Investors are also monitoring the Fed, which is expected to hold interest rates steady on Wednesday, even as Trump pushes for more cuts. 'Traders appear to be taking profits and moving to the sidelines ahead of the Federal Reserve's FOMC meeting, which kicks off today,' said David Morrison, senior market analyst Trade Nation, referring to the monetary policy branch of the reserve, the Federal Open Market Committee. While data last week showed the US economy contracted in the first quarter, strong jobs and services sector figures suggest there is still some resilience. 'It's a big week for central bank interest rate decisions,' noted AJ Bell investment director Russ Mould. 'The key focus will be on forward-looking commentary and whether the Fed is getting worried about Trump's tariffs,' Mould added. On Thursday, the Bank of England is expected to cut its key rate by a quarter point to 4.25% amid concerns of weak growth in Britain. In Europe, Frankfurt's stock market shed 0.4% after German conservative leader Friedrich Merz was confirmed as chancellor following an initial setback. Paris also ended the day down 0.4% while London finished flat. The US dollar was lower against major rival currencies, while oil prices shot higher in what analysts called a technical rebound following Monday's selloff. US pharmaceutical and biotech stocks took a beating due to the appointment of oncologist Vinay Prasad to a top post at the US Food and Drug Administration. Prasad has been an outspoken critic of the agency's prior approach to Covid-19 vaccines and other key decisions. Merck and Pfizer both fell more than 4% while Moderna sank more than 12%. In company news, US food delivery service DoorDash agreed to buy Deliveroo in a £2.9-billion deal that values the UK group at less than half of its initial public offering price. Shares in Deliveroo rose 2.1% on London's second-tier FTSE 250 index, while DoorDash shares dropped 7.4% in New York. Danish wind turbine maker Vestas jumped nine percent in Copenhagen after it stuck to its annual earnings forecasts despite geopolitical uncertainty and US tariffs.
Business Mayor
03-05-2025
- Business
- Business Mayor
Bitcoin Captures Nearly 65% Of The Market — Highest Level In 4 Years
17h05 ▪ 3 min read ▪ by Eddy S. Bitcoin strikes hard: with a price flirting with $97,000 and a market dominance of 64.89%, the crypto queen reaches its highest level since 2021! Driven by distrust towards altcoins and a tense macro environment, BTC crushes the competition and attracts capital. Bitcoin: Market dominance reaches a 4-year peak In a few months, Bitcoin's dominance has risen from 57.90% in December 2024 to nearly 65% this Saturday, its highest peak in 4 years. While BTC trades around $97,000, this progression marks a strong comeback of the king asset in a crypto market undergoing upheaval. Two key factors explain this spectacular rise: An uncertain macroeconomic context: investors fleeing traditional assets like U.S. Treasury bonds have strengthened Bitcoin's appeal, considered a more resilient store of value amid global economic tensions. Trump's tariff policy: the imposition of higher tariffs by the U.S. administration has created an unstable climate, cooling appetite for more speculative altcoins. Conversely, Bitcoin stands out, benefiting from its safe-haven image and proven infrastructure. A unique resilience in an uncertain market David Morrison, senior analyst at Trade Nation, explains that bitcoin benefits from a first-mover advantage, more favorable regulation, and a strictly limited supply, which attracts both institutional and retail investors. Even during bearish periods, bitcoin shows an impressive ability to rebound, unlike many altcoins that are still struggling. While the Bitcoin ETF has attracted 4 billion dollars more than the gold ETF this week, institutional confidence seems to be strengthening. This could propel BTC beyond 70% dominance if this trend continues. Read More Bitcoin As A Notarization Layer For Political Agreements As bitcoin establishes its supremacy in the crypto market, its breakthrough worries some regulators. The Bank of Italy warns about the systemic risks of integrating BTC into national reserves. A rise in power that fascinates… but could also reshuffle the cards of global stability. Maximize your Cointribune experience with our 'Read to Earn' program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits. The world is evolving and adaptation is the best weapon to survive in this undulating universe. Originally a crypto community manager, I am interested in anything that is directly or indirectly related to blockchain and its derivatives. To share my experience and promote a field that I am passionate about, nothing is better than writing informative and relaxed articles.
