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[hfe_template id='11223'] [ad_1] Global stock markets surged on Monday after the U.S. and China agreed to slash steep tariffs for at least 90 days, tapping the brakes on a trade war between the world's two biggest economies that had fed fears of a global recession. But the temporary pause did little to address the underlying schisms that led to the dispute, including the U.S. trade deficit with China and U.S. President Donald Trump's demand for more action from Beijing to combat the U.S. fentanyl crisis. While investors cheered the move, businesses were seeking more clarity. Under the temporary truce, the U.S. will cut extra tariffs it imposed on Chinese imports last month from 145% to 30% for the next three months, the two sides said, while Chinese duties on U.S. imports will fall to 10% from 125%. In addition to the tariff reductions, China agreed to lift export countermeasures issued after April 2, including restrictions on rare earth minerals and magnets u...

[hfe_template id='11223'] [ad_1] Wall Street's three major indexes rose sharply on Monday with the S&P 500 marking its highest level since early March as a U.S.-China agreement to temporarily slash tariffs brought some hopes for the easing of a global trade war, which U.S. President Donald Trump ignited in early April. The U.S. and China announced on Monday that they would slash steep tariffs on each other for 90 days. The U.S. said it will cut tariffs imposed on Chinese imports to 30% from 145% while China said it would cut duties on U.S. imports to 10% from 125%. Investors showed some relief by favoring riskier assets and turning away from more defensive bets, but they were still left waiting for clarity on where tariffs would ultimately settle. "It's a relief rally because there was a lot of anxiety and angst about tariffs between the U.S. and China," said John Praveen, managing director at Paleo Leon in Princeton, New Jersey, adding that the w...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes seesawed on Friday, as investors parsed President Donald Trump's latest comments on U.S.-China tariffs ahead of a weekend of trade talks between the two superpowers. Trump said Beijing should open its market to the United States and that 80% tariffs on Chinese goods "seems right." The levies are currently at 145%. Representatives from U.S. and China are scheduled to meet in Switzerland over the weekend to discuss tariffs, with investors hoping the talks will salve a bruising trade war that has raised concerns over global economic growth and left markets, companies and the Federal Reserve in wait-and-watch mode. "The tariff, whether it's 140% or 80%, the number sounds like a difference, but if there's still a tariff of 80%, most people are not going to buy stuff," said Michael Matousek, head trader at U.S. Global Investors. Investors are likely de-risking their portfolios ahead...

[hfe_template id='11223'] [ad_1] U.S. stocks closed higher on Thursday, rallying for a third straight day with a solid boost from technology shares as investors parsed a mixed bag of corporate earnings and watched for signs of progress in the U.S.-China tariff stand-off. All three major U.S. stock indexes posted sharp gains, with the "magnificent seven" group of artificial intelligence-related megacaps, boosted by AI-powered software firm ServiceNow's better-than-expected quarterly results, giving the Nasdaq the edge. Beijing called for cancellation of U.S. tariffs on Chinese goods, following comments from U.S. Treasury Secretary Scott Bessent signaling the White House could be willing to de-escalate trade tensions that have whipsawed markets for weeks. Easing tariff rhetoric is "part of the reason why you're seeing the chips lead because they've been kind of in the bull's eye in (the trade dispute) between China and the U.S.," said ...

[hfe_template id='11223'] [ad_1] Wall Street fell sharply for a second straight session on Friday, pushing the Nasdaq toward a bear market, after China imposed fresh tariffs on all U.S. goods in response to the Trump administration's sweeping levies, escalating a global trade war and concerns of a recession. At 12.53 pm, the Dow Jones dropped 1,607.09 points or 3.96% to 38,938.84, the S&P 500 declined 258.10 points or 4.78% to 5,138.49, and the Nasdaq fell 817.82 points or 4.94% to 15,732.78. China's finance ministry said on Friday it would impose additional tariffs of 34% on all U.S. goods from April 10 after U.S. President Donald Trump raised tariff barriers to their highest level in more than a century this week. The tariff war has sent shockwaves through global financial markets and raised fears of an economic downturn, with investment bank JP Morgan forecasting a 60% chance of the global economy entering a recession by year-end, up from 40% previously. ...

[hfe_template id='11223'] [ad_1] U.S. stocks rallied to their best day in months on Friday as Wall Street's roller coaster suddenly shot back upward. That still wasn't enough to keep the U.S. market from a fourth straight losing week, its longest such streak since August. The S&P 500 jumped 2.1% a day after closing more than 10% below its record for its first " correction " since 2023. The last time the index shot up that much was the day after President Donald Trump's election, when Wall Street was focusing on the upsides of Trump's return to the White House. The Dow Jones Industrial Average climbed 674 points, or 1.7%, and the Nasdaq composite jumped 2.6%. A multi-day "relief rally could be coming" after so much negativity built among investors, said Yung-Yu Ma, chief investment officer at BMO Wealth Management. Swings in sentiment don't go full-tilt in just one direction forever, and the U.S. stock market has been tumbling...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes were mixed in choppy trading on Friday as investors avoided large bets after data showed consumer spending fell in January, exacerbating worries that the world's largest economy might be stalling. A Commerce Department report showed that inflation rose in line with expectations in the previous month. However, consumer spending, which accounts for more than two-thirds of the economy, dropped 0.2% after an upwardly revised 0.8% increase in December. "Spending came in lower than we were looking for... most of it I would attribute to a cooling economy, which presents a dilemma for the Fed in the sense that you still have inflation and you have an economy that is moving lower. If you add them together, that equals stagflation," Peter Cardillo, chief market economist at Spartan Capital Securities. Friday's report is important for investors trying to gauge the central bank's next policy move, ...

[hfe_template id='11223'] [ad_1] The S&P 500 ended little changed on Wednesday ahead of quarterly results from Nvidia, whose positive outlook could set the tone for the artificial intelligence sector. Stocks lost ground in afternoon trading, with investors digesting the latest comments from U.S. President Donald Trump on tariffs. Trump said on Wednesday his administration will soon announce a 25% tariff on imports from the European Union. He also raised hopes for another pause on steep new tariffs on imports from Mexico and Canada by saying they would take effect on April 2, about a month later than a deadline next week. After the closing bell, Nvidia's shares were up about 2% in choppy trading. The AI tech leader forecast first-quarter revenue above market estimates. Nvidia's stock ended the regular session up 3.7%, while an index of semiconductors was up 2.1% on the day. The launch and popularity of low-cost AI models from China's DeepSeek had rattle...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes were muted on Friday, as investors awaited more clarity on U.S. President Donald Trump's reciprocal tariff plans after robust gains in the last sessions, with all three benchmarks set for weekly gains. Trump tasked his economics team on Thursday with devising plans for reciprocal tariffs on every country taxing U.S. imports, though the directive stopped short of imposing fresh tariffs. Howard Lutnick, Trump's pick for commerce secretary, said the administration would address each affected country one by one and said studies on the issue would be completed by April 1. "The tariff news created a lot of volatility about two weeks ago, but right now it seems that the markets are looking past it," said Larry Tentarelli, chief technical strategist and founder of Blue Chip Daily Trend Report. "The markets probably see the tariffs as more of a negotiating tool than anything else." Imposit...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes moved higher on Friday as technology stocks rebounded from a losing streak, while investors geared up for potential policy shifts under the incoming Trump administration. At 10:05 a.m. ET, the Dow Jones Industrial Average rose 181.31 points, or 0.43%, to 42,569.94, the S&P 500 gained 47.44 points, or 0.81%, to 5,915.99 and the Nasdaq Composite gained 236.31 points, or 1.24%, to 19,519.58. All 11 S&P 500 sectors were trading in positive territory, with the information technology sector bouncing back 1.3% after falling for the past four sessions. Nvidia was driving gains on all three major indexes. Wall Street had a dour start to the new year, with the S&P 500 and Nasdaq erasing early gains to close lower for a fifth straight session on Thursday, bucking a historical trend where markets rally in the last five sessions of December and the first two sessions of January. All three major indexes were o...

[hfe_template id='11223'] [ad_1] Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week that was driven by expectations around a traditionally strong period for markets. Yields on some U.S. Treasury notes were higher on the day, with the ones on the benchmark 10-year note hovering near an over seven-month high they hit on Thursday. The yields on the benchmark 10-year note were last at 4.587%. Rate-sensitive growth stocks dropped with Nvidia down 3% and Tesla off by 3.8%, while Microsoft shed 2%. Ten of the 11 major S&P sectors, including information technology and consumer discretionary fell the most, down about 2% and 1.9%, after powering most of the broader market's gains in 2024. "Tech, which has had a tremendous run, is starting to pull back. It is the beginning of a healthy correction that will get focused in on over the next four to eight weeks as we switch administrations," sa...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes all closed higher on Tuesday, with gains in megacap and growth stocks bolstering benchmarks in a truncated Christmas Eve session. Both the Dow Jones Industrial Average and Nasdaq Composite scored four straight sessions of gains, with the S&P 500 taking its winning streak to three sessions, marking the first day of the seasonal Santa Claus rally. The Dow had skidded for 10 straight sessions earlier this month, its longest losing streak since 1974. With megacap stocks having outsized influence on markets, their performance is often a key driver of indexes. When coupled with reduced trading volumes and few other catalysts, as many investors take time off for the holidays, this is even more pronounced. All the so-called Magnificent Seven megacap technology stocks climbed on Tuesday, led by the 7.4% jump in Tesla shares. The automaker's best one-day gain in six weeks helped push the consumer discretion...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes edged higher on Friday, with the S&P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data. U.S. job growth surged in November after being severely constrained by hurricanes and strikes, but this is unlikely to signal a material shift in labor market conditions, which continue to ease steadily and would allow the Fed to cut interest rates again this month. "This jobs report came out right in the Goldilocks zone - not too hot so as to derail interest-rate cuts in December (or next year), but also not too cold, which could have spooked financial markets about the underlying health of the U.S. economy," said Josh Jamner, investment strategy analyst, ClearBridge Investments. Traders boosted bets the U.S. central bank would cut interest rates this month, now signaling a more than 90% chance of a 25...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes opened slightly higher in a shortened Black Friday trading session, on track for monthly gains as the holiday shopping season kickoff brought retail stocks into focus. Investors scrutinized retailers, expected to attract millions of shoppers with their deep Black Friday discounts, as customers started their year-end holiday shopping. Adobe Analytics estimated consumers would spend a record $10.8 billion in online purchases on Black Friday 2024, a rise of 9.9% over last year. Shares of Target rose 1.5%, Hasbro gained 3.7%, Costco climbed 0.8%, Walmart edged up 0.4% and Nike added 0.5%. "Retailers do a lot of importing. Inventory levels are very important to their profitability and ability to kind of control margins, so they will be one of the industries in the (tariffs) crossfire," said Ross Mayfield, investment strategist at Baird. "But so far... (things are) looking pretty solid for the Black...

[hfe_template id='11223'] [ad_1] The S&P 500 briefly surpassed the 6,000 mark and closed with its biggest weekly percentage gain in a year, as Donald Trump's election victory and a possible Republican Party sweep in Congress fueled expectations for favorable business policies. Also supporting stocks this week was a widely expected interest rate cut of 25 basis points by the Federal Reserve on Thursday. The S&P 500 and the Dow Industrials registered their best weekly percentage jump since early November 2023, while the Nasdaq notched its best week in two months and second-best week of 2024. Investors were also monitoring for a likely "Red Sweep" as Republicans were set to keep their narrow lead in the House of Representatives after winning control of the Senate. That would make it easier for Trump to enact his legislative plans. Expectations for lower corporate taxes and deregulation lifted the Nasdaq to record closing highs for three straight sess...

[hfe_template id='11223'] [ad_1] The S&P 500 and the tech-heavy Nasdaq gained ground on Friday, bolstered by technology stocks, while Netflix surged after exceeding subscriber growth estimates. Shares of Netflix NFLX.O jumped 10.2% to a record high after the streaming giant topped Wall Street estimates for subscriber additions and said it expected continued growth through the end of the year. The Dow was dragged lower by American Express AXP.N, which lost 3.6% after its quarterly revenue missed estimates. Meanwhile, all the so-called Magnificent Seven stocks, which have driven much of Wall Street's rally this year, rose. Apple AAPL.O gained 1.2% after data showed a sharp increase in new iPhone sales in China, while chip heavyweight Nvidia NVDA.O added 0.6% after BofA Global Research hiked its price target on the stock. Netflix's gains lifted the Communication Services sector .SPLRCL 1%, while Information Technology .SPLRCT rose 0.4%An upbeat start to the quar...

[hfe_template id='11223'] [ad_1] U.S. stocks advanced on Friday and gold continued to hit record highs as investors looked to whether the Federal Reserve might move more aggressively to cut rates at its policy meeting next week. Futures tied to the Fed's policy rate now reflect about a 47% chance the Fed will cut its policy rate by half a percentage point, climbing from 28% odds on Tuesday following media reports suggesting it could be a close call between a half-point and a quarter-point rate cut. The growing anticipation of steeper cuts helped boost stocks, gold and Treasury prices, and drive down the dollar. All three major U.S. indexes closed higher. The Dow Jones Industrial Average was up 0.72%, the S&P 500 jumped 0.54% and the Nasdaq Composite surged 0.65%. MSCI's gauge of stocks across the globe rose 0.61%. Hopes for a bigger cut were further boosted when influential former New York Fed President Bill Dudley said at a forum in Singapore, "There...

[hfe_template id='11223'] [ad_1] Stock markets jumped on Friday after US Federal Reserve chief Jerome Powell made clear that the central bank was ready to cut interest rates as inflation is cooling. The Dow was up 476 points or 1.17 percent following the speech while the broad-based S&P 500 gained more than one percent and the Nasdaq bounced by 1.3 percent. All three had closed in the red on Thursday. The dollar, which performs better when borrowing costs are higher, fell against the euro, the pound and the yen, which also strengthened after Bank of Japan chief Kazuo Ueda signalled that Japanese rates could rise again. Investors had been on tenterhooks all week in anticipation of a key speech by Powell at an annual gathering of central bankers in Jackson Hole, Wyoming. Traders were hoping that Powell would leave no doubts that a rate reduction was on the way after data earlier this month raised recession fears and rocked the markets. The next Fed rate decision is nex...

[hfe_template id='11223'] [ad_1] Wall Street's main indexes slipped on Friday following the S&P 500 and the Nasdaq's six-day winning streaks after a spate of encouraging economic data allayed recession worries, while weak housing data dampened sentiment. Equities came under pressure a bit after data showed U.S. single-family homebuilding fell sharply in July, suggesting that the housing market remained depressed at the start of the third quarter. Nine of the 11 major S&P 500 sectors were trading lower, with energy the worst hit, tracking lower crude oil prices. The benchmark index has recovered from a pullback earlier this month caused by a dour U.S. jobs report and the yen carry trade as better-than-expected data calmed nerves over a sharp slowdown in the world's largest economy. U.S. consumer and producer prices data this week indicated inflation was moderating at a pace that would keep the U.S. Federal Reserve on track to start its monetary easing ...

[hfe_template id='11223'] [ad_1] U.S. stocks sold off for a second straight session on Friday, and the Nasdaq Composite confirmed it was in correction territory after a soft jobs report stoked fears of an oncoming recession. The Labor Department said nonfarm payrolls increased by 114,000 jobs last month, well short of the 175,000 average forecast by economists polled by Reuters, and the at least 200,000 that economists believe are needed to keep up with population growth. The unemployment rate jumped up to 4.3%, near a three-year high. The data added to concerns the economy was slowing more rapidly than anticipated and the Federal Reserve had erred by keeping rates steady at its policy meeting that concluded on Wednesday. Expectations for a rate cut of 50 basis points (bps) at the Fed's September meeting jumped to 69.5% from 22% in the prior session, according to CME's FedWatch Tool "Obviously the jobs number is the big headline, but we seem to have officia...