Latest news with #TrumpPattern
Kuwait Times
3 days ago
- Business
- Kuwait Times
European markets rally; Trump delays 50% EU tariffs
LA DEFENSE: This photograph shows the logo of Euronext, a pan European stock exchange, above financial information of the index CAC40. US President Donald Trump has called for a 50 percent tariff on imports from the European Union, raising the stakes in his global trade war. – AFP PARIS: European stock markets rallied Monday after US President Donald Trump delayed 50-percent tariffs on the European Union until July 9 to give more time for negotiations. Trump sent the markets into a tailspin again on Friday when he threatened to hit EU goods with the huge tariff from June 1 as talks were "going nowhere". Along with that threat, he warned that he would hit smartphone makers with 25-percent tolls if they did not make their handsets in the United States. Trump provided some relief Sunday by saying he was putting off the EU tariffs until July 9 after a "very nice call" with European Commission President Ursula von der Leyen, adding that officials will "rapidly get together and see if we can work something out". Von der Leyen vowed to move "swiftly" to reach a deal. The Paris CAC 40 index was up 1.2 percent in midday deals while the Frankfurt gained 1.7 percent. London and Wall Street were closed for holidays, but US futures were higher while Asia struggled. Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the president's volatile policy pivots. "The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US president," said Jochen Stanzl, chief market analyst at CMC Markets trading platform. "This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern', which is increasingly seen as a successful strategy for risk-tolerant investors." The dollar remained under pressure after dropping Friday. Steel saga Investors have also fretted over Trump's economic policies, with US long-term government bond yields surging last week over concerns that his tax relief and spending cuts plan - which was approved by the House - will increase the US debt pile. Traders are also looking ahead to Wednesday's release of minutes from the Fed's earlier May policy meeting, hoping for an idea about the central bank's views on the economy. That is followed by the Fed's preferred measure of inflation - US personal consumption expenditures - on Friday. In company news, shares in Seoul-listed Samsung rose almost one percent despite Trump's threat of tariffs on smartphone makers. In Tokyo, Nippon Steel rallied as much as 7.4 percent after Trump threw his support behind a new "partnership" between the Japanese firm and US Steel. It ended up 2.1 percent. His remarks Friday were the latest in a long saga surrounding Nippon Steel's $14.9-billion takeover of US Steel, first announced in late 2023. He said US Steel's headquarters would remain in Pittsburgh and that the partnership would create at least 70,000 jobs and add $14 billion to the US economy. However, neither the White House nor the two companies have published details of the new arrangement and many questions remain. US Steel soared 21 percent in New York on Friday. - AFP
NZ Herald
3 days ago
- Business
- NZ Herald
European markets rally as Trump delays 50% EU tariffs
On Monday the Paris CAC 40 index closed 1.2% higher while the Frankfurt gained 1.7%. London and Wall Street were closed for holidays, but US futures were higher while Asia struggled. Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the President's volatile policy pivots. 'The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US President,' said Jochen Stanzl, chief market analyst at CMC Markets trading platform. 'This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern', which is increasingly seen as a successful strategy for risk-tolerant investors.' The dollar remained under pressure after dropping on Friday. Oil prices fluctuated and ended flat, with producers' group Opec-plus expected this week to continue to raise production despite low prices, after pressure from Trump. Steel saga Investors have also fretted over Trump's economic policies, with US long-term government bond yields surging last week over concerns that his tax relief and spending cuts plan – which was approved by the House – will increase the US debt pile. Traders are also looking to Wednesday's release of minutes from the Fed's earlier May policy meeting, hoping for an idea about the central bank's views on the economy. That is followed by the Fed's preferred measure of inflation – US personal consumption expenditures – on Friday. In company news, shares in Seoul-listed Samsung rose almost 1% despite Trump's threat of tariffs on smartphone makers. In Tokyo, Nippon Steel rallied as much as 7.4% after Trump threw his support behind a new 'partnership' between the Japanese firm and US Steel. It ended up 2.1%. US Steel soared 21% in New York on Friday. In Europe, shares in steel giant ThyssenKrupp surged 8.7% after the firm said it planned a major overhaul that will split the vast conglomerate into several standalone businesses. Swedish carmaker Volvo rose more than 2% after it announced it would cut 3000 jobs as part of a $1.9 billion cost-cutting plan. Key figures Paris – CAC 40: UP 1.2% at 7828.13 points Frankfurt – DAX: UP 1.7% at 24,027.65 Tokyo – Nikkei 225: UP 1.0% at 37,531.53 (close) Hong Kong – Hang Seng Index: DOWN 1.4% at 23,282.33 (close) Advertisement Advertise with NZME. Shanghai – Composite: DOWN 0.1% at 3,346.84 (close) Euro/dollar: UP at $1.1382 from $1.1369 on Friday Pound/dollar: UP at $1.3563 from $1.3535 Dollar/yen: UP at 142.81 yen from 142.57 yen Euro/pound: DOWN at 83.91 pence from 83.96 pence West Texas Intermediate: UP 0.1% at US$61.62 per barrel Brent North Sea Crude: UP 0.1% at US$64.88 per barrel New York – Dow: Closed for a holiday London – FTSE 100: Closed for a holiday -Agence France-Presse
Gulf Today
4 days ago
- Business
- Gulf Today
Markets rally as Trump delays 50% EU tariffs
Global markets climbed on Monday and the euro rallied after US President Donald Trump kicked his threat to slap 50% tariffs on European Union goods into July, marking another temporary trade policy reprieve. MSCI's broadest index of world shares rose 0.2%. The pan-European stocks index, last up .9%, recovered to where it was trading before Trump on Friday unexpectedly called for 50% tariffs on European goods, saying negotiations with the region had become too sluggish. On Sunday, Trump reversed course, pushing the deadline for tariffs to July 9 from June 1, after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal. Trump's latest policy moves were a reminder to investors how quickly circumstances could change. Analysts have pointed out that investors are shifting their money out of US markets to Europe and Asia as they price in a possible US recession and a consequent global slowdown. European stock markets rallied Monday after US President Donald Trump delayed 50-percent tariffs on the European Union until July 9 to give more time for negotiations. Trump provided some relief Sunday by saying he was putting off the EU tariffs until July 9 after a 'very nice call' with European Commission President Ursula von der Leyen, adding that officials will 'rapidly get together and see if we can work something out'. Von der Leyen vowed to move 'swiftly' to reach a deal. On Monday the Paris CAC 40 index closed 1.2 per cent higher while the Frankfurt gained 1.7 per cent. London and Wall Street were closed for holidays, but US futures were higher while Asia struggled. Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the president's volatile policy pivots. 'The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US president,' said Jochen Stanzl, chief market analyst at CMC Markets trading platform. 'This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern', which is increasingly seen as a successful strategy for risk-tolerant investors.' The dollar remained under pressure after dropping Friday. Oil prices fluctuated and ended flat, with producers' group OPEC+ expected this week to continue to raise production despite low prices, after pressure from Trump. - Steel saga - Investors have also fretted over Trump's economic policies, with US long-term government bond yields surging last week over concerns that his tax relief and spending cuts plan − which was approved by the House − will increase the US debt pile. Traders are also looking ahead to Wednesday's release of minutes from the Fed's earlier May policy meeting, hoping for an idea about the central bank's views on the economy. That is followed by the Fed's preferred measure of inflation − US personal consumption expenditures − on Friday. In company news, shares in Seoul-listed Samsung rose almost one per cent despite Trump's threat of tariffs on smartphone makers. In Tokyo, Nippon Steel rallied as much as 7.4 per cent after Trump threw his support behind a new 'partnership' between the Japanese firm and US Steel. It ended up 2.1 per cent. US Steel soared 21 per cent in New York on Friday. In Europe, shares in steel giant ThyssenKrupp surged 8.7 per cent after the firm said it planned a major overhaul that will split the vast conglomerate into several standalone businesses. Swedish carmaker Volvo rose more than two per cent after it announced it would cut 3,000 jobs as part of a $1.9 billion cost-cutting plan. Separately, Canada's main stock index surged on Monday, after US President Donald Trump extended the deadline for European Union trade talks, providing a brief respite to investor concerns over his erratic trade policies. The Toronto Stock Exchange's S&P/TSX composite index was up 0.6% at 25,024.83 points. On Sunday, Trump backed away from his threat to impose 50% tariffs on EU imports to July 9 from June 1, after European Commission President Ursula von der Leyen said the 27-nation bloc needed more time to produce a deal. However, despite global market sentiment steadying after new trade deals with the UK and China earlier this month, Trump's sweeping tariffs and pauses since April 2 continue to generate uncertainty among investors and companies. Agencies
Yahoo
4 days ago
- Business
- Yahoo
Stocks Rise on Trump's Tariff Delay; Dollar Wavers: Markets Wrap
(Bloomberg) -- European stocks climbed along with US equity futures after President Donald Trump extended a deadline on aggressive euro area tariffs, reinforcing a pattern of leaving markets guessing by making trade threats before backtracking. NY Private School Pleads for Donors to Stay Open After Declaring Bankruptcy UAE's AI University Aims to Become Stanford of the Gulf NYC's War on Trash Gets a Glam Squad Pacific Coast Highway to Reopen Near Malibu After January Fires The Stoxx Europe 600 index erased Friday's losses sparked by Trump's threat of 50% tariffs on the European Union. The US President later said he had agreed to delay the date for the levies to July 9 from June 1. Contracts for the S&P 500 and the Nasdaq 100 advanced more than 1%. A gauge of the dollar hovered near its lowest level in almost two years. The tariff war has returned as the major driver once again after concerns about Trump's proposed tax cuts, and their impact on the US deficit, churned markets much of last week. Trump's whiplash moves have increased uncertainty in markets and his broadside against Europe on Friday, followed by a backtrack, was a stark reminder of the president's volatile policy making. 'The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the U.S. President,' said Jochen Stanzl, chief market analyst at CMC Markets. 'This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern,' which is increasingly seen as a successful strategy for risk-tolerant investors.' Trump's decision to extend the deadline came after a phone call with European Commission President Ursula von der Leyen. Von der Leyen, who heads the EU's executive arm, said earlier Sunday in a post on X that 'Europe is ready to advance talks swiftly and decisively,' but 'a good deal' will need 'time until July 9.' That's the date on which Trump's 90-day pause of his so-called reciprocal tariffs had originally been set to end. 'One thing that is starting to concern us a bit is the fact that the rebounds that follow these selloffs are losing strength as we go on,' said Frederic Rozier, a portfolio manager at Mirabaud France. 'We can sense investor fatigue about this back-and-forth and there's a risk sentiment will erode as markets run in circles on tariffs. The only thing we know is that even if there's an agreement, there will be a cost for European stocks.' Among individual movers in Europe, Thyssenkrupp AG jumped more than 7% after a report that the firms chief executive plans to turn it into a holding company, allowing it to cut overhead costs as it divests further units. Trump's tariff threats on Friday also included a 25% levy on smartphones if companies including Apple Inc. and Samsung Electronics Co. failed to move production to the US. The trade tensions and weak demand for US assets are showing up in the dollar. Bloomberg's dollar spot index was track for its lowest close since July 2023, while the greenback is at or approaching key levels against a host of currencies including the euro, Britsh pound, yen and Swiss franc. Enthusiasm has faded for the world's reserve currency this year. Speculative traders remained bearish on the dollar but trimmed their positioning to $12.4 billion in the week ending May 20 from $16.5 billion in the week prior, according to CFTC data reported Friday. A key event this week will be Nvidia Corp.'s results on Wednesday. The chip-making giant is seen as a bellwether for so called growth stocks and the sustainability of the artificial intelligence boom. It's outlook will be crucial given macro risks and tariff uncertainty. Investors are also gearing up for the Federal Reserve's preferred inflation measure, the US personal consumption expenditures price index excluding food and energy, which will be released Friday. The April reading is forecast to rise 0.1% based on consensus expectations. Elsewhere, signs of port congestion in northern Europe and other hubs suggests trade wars could lead to maritime disruptions around the world, increasing shipping rates. Trump on Friday announced a partnership between United States Steel Corp. and Japan's Nippon Steel Corp., shocking markets with an agreement he said would keep the once-iconic American firm in the US, but otherwise providing no specifics. Nippon Steel shares jumped as much as 7.4% in Tokyo, while shares in US Steel rose 21% Friday. Some of the main moves in markets: Stocks The Stoxx Europe 600 rose 1% as of 10:59 a.m. London time S&P 500 futures rose 1.2% Nasdaq 100 futures rose 1.3% Futures on the Dow Jones Industrial Average rose 1% The MSCI Asia Pacific Index was little changed The MSCI Emerging Markets Index fell 0.2% Currencies The Bloomberg Dollar Spot Index was little changed The euro rose 0.1% to $1.1377 The Japanese yen fell 0.2% to 142.89 per dollar The offshore yuan was little changed at 7.1792 per dollar The British pound rose 0.2% to $1.3560 Cryptocurrencies Bitcoin rose 1.9% to $109,739.61 Ether rose 1.6% to $2,564.11 Bonds Germany's 10-year yield advanced two basis points to 2.59% Britain's 10-year yield declined seven basis points to 4.68% Commodities Brent crude rose 0.1% to $64.85 a barrel Spot gold fell 0.9% to $3,328.46 an ounce This story was produced with the assistance of Bloomberg Automation. --With assistance from Winnie Hsu, Michael Msika, Anand Krishnamoorthy and Julien Ponthus. Why Apple Still Hasn't Cracked AI How Coach Handbags Became a Gen Z Status Symbol AI Is Helping Executives Tackle the Dreaded Post-Vacation Inbox Inside the First Stargate AI Data Center Anthropic Is Trying to Win the AI Race Without Losing Its Soul ©2025 Bloomberg L.P. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Eyewitness News
4 days ago
- Business
- Eyewitness News
European markets rally as Trump delays 50% EU tariffs
HONG KONG - European equities rallied Monday after Donald Trump dialled back on his threat to hit the European Union with 50% tariffs by delaying their implementation to July. Just as markets were showing signs of settling following their bond-fuelled selloff last week, the US president hurled his latest grenade across the pond on Friday by levelling 50% levies at the bloc from June 1, saying talks were "going nowhere". He also said he would hit smartphone makers with 25% tolls if they did not make their handsets in the United States. Wall Street's three main indexes and most European markets dumped into the red Friday. However, Trump provided some relief Sunday by saying the EU tariffs would not be put in place until July 9 following a "very nice call" with its boss Ursula von der Leyen, adding that officials will "rapidly get together and see if we can work something out". Von der Leyen vowed to move "swiftly" to reach a deal. Paris and Frankfurt jumped more than one percent in the morning, while London was closed for a holiday. US futures also rallied but Asia struggled. "The stock market seems to dance to Trump's tune: first a threat, then a pullback, quickly followed by a rebound as speculative investors anticipate a concession from the US president," said Jochen Stanzl, chief market analyst at CMC Markets. "This morning's confirmation of such expectations reinforces the so-called 'Trump Pattern', which is increasingly seen as a successful strategy for risk-tolerant investors." READ: Trump fires new tariff threats at Apple and EU Hong Kong, Shanghai, Singapore, Wellington, Taipei, Manila, Bangkok and Jakarta fell, while Tokyo, Seoul and Mumbai rose. Sydney was flat. The dollar remained under pressure after dropping Friday. Analysts said the latest unexpected salvos from the White House highlighted the uncertain path investors are having to walk owing to the president's volatile policy pivots. They have also warned that his bill to extend tax cuts and slash spending could balloon the national deficit by trillions of dollars, putting upward pressure on Treasury yields and sparking warnings about the world's biggest economy. FED MINUTES Ray Attrill at National Australia Bank added: "In what is an otherwise quiet week on the scheduled global data and events calendar... trade discussion look set to dominate the market landscape this week." Investors are also looking ahead to the release of minutes from the Federal Reserve's policy meeting this month, hoping for an idea about decision-makers' views on the economy in light of the tariff war. That is followed by its preferred measure of inflation, US personal consumption expenditures, which will be unveiled Friday. The bank showed a shift in tone in its post-meeting statement "with uncertainty about the economic outlook increasing further, stating that the risks of higher unemployment and inflation have both risen", said Michael Hewson, of MCH Market Insights. "This is a problem for the Fed's dual mandate given that these two items could move in the same direction when any policy response may well hinder one over the other." He added: "The biggest concern is likely to be the sharp drop in US consumer confidence levels in the last few months, however... this could quickly reverse if the US government begins to realise that its tendency to pick fights at every turn is doing more harm than good domestically." In company news, shares in Seoul-listed Samsung rose almost one percent despite Trump's threat of tariffs on smartphone makers. And in Tokyo, Nippon Steel rallied as much as 7.4% after Trump threw his support behind a new "partnership" between the Japanese firm and US Steel. It ended up 2.1%. His remarks Friday were the latest in a long saga surrounding Nippon Steel's $14.9-billion takeover of US Steel first announced in late 2023. He said US Steel's headquarters would remain in Pittsburgh and that the partnership would create at least 70,000 jobs and add $14 billion to the US economy. However, neither the White House nor the two companies have published details of the new arrangement and many questions remain. US Steel soared 21% in New York on Friday. KEY FIGURES AROUND 0810 GMT Tokyo - Nikkei 225: UP 1.0% at 37,531.53 (close) Hong Kong - Hang Seng Index: DOWN 1.4% at 23,282.33 (close) Shanghai - Composite: DOWN 0.1% at 3,346.84 (close) Euro/dollar: UP at $1.1391 from $1.1369 on Friday Pound/dollar: UP at $1.3567 from $1.3535 Dollar/yen: UP at 142.90 yen from 142.57 yen Euro/pound: DOWN at 83.95 pence from 83.96 pence West Texas Intermediate: UP 0.4% at $61.79 per barrel Brent North Sea Crude: UP 0.4% at $65.06 per barrel New York - Dow: DOWN 0.6% at 41,603.07 (close) London - FTSE 100: Closed for a holiday
