On Monday, Wall Street stocks closed with modest gains as investors largely shrugged off U.S. President Donald Trump’s latest tariff threats, focusing instead on an eventful week ahead with key economic reports and the start of earnings season.
Trump escalated trade tensions over the weekend by announcing plans to impose a 30% tariff on most imports from the European Union and Mexico starting 1 August, setting a deadline for last-minute trade deals. The EU has extended its pause on retaliatory measures until early August, hoping for a negotiated settlement, while talks between the US, EU, Canada, and Mexico continue.
The Dow Jones Industrial Average rose 0.20% to 44,459, the S&P 500 gained 0.14% to 6,268, and the Nasdaq Composite advanced 0.27% to 20,640. Trading volume was below the 20-day average.
Despite ongoing tariff threats, markets have remained buoyant, with the Nasdaq hitting its seventh record high since late June.
Investment strategist Jason Pride noted that the economy’s growth outlook is improving as the effects of tariffs are largely offset by recent economic legislation.
This week will bring important updates on the U.S. economy, including second-quarter earnings reports starting Tuesday, and consumer price data expected to show inflation picking up in June.
Oil prices fell 2.2% following Trump’s threat of tariffs on Russian imports, dragging the energy sector down by 1.2%, the largest decline among S&P sectors.
Meanwhile, the communication services sector rose 0.7%, helped by gains in Netflix and Warner Bros. Discovery ahead of their earnings releases.
Cryptocurrency-related stocks also advanced after Bitcoin surpassed $120,000 for the first time.
Laboratory equipment maker Waters Corp dropped 13.8% after announcing a $17.5 billion merger with Becton, Dickinson and Company’s Biosciences division, marking the largest loss of the day.
Kazakhstan-linked hackers stole thousands of national security documents from Tajikistan, a cybersecurity company has said. ...
Four Turkish military personnel have been killed after an S-70 helicopter crashed in the eastern province of Malatya on Thursday, Türkiye'...
Microsoft struggled to restore its services on Friday after a major outage disrupted Outlook, Teams and Copilot across the United States and Asia-P...
European leaders gathered in Dublin on Thursday, 12 November, for the ninth European Political Community (EPC) summit, with security, defence and energy high on the agenda. Azerbaijani President Ilham Aliyev held talks focused on peace, trade and regional cooperation.
UN Secretary-General António Guterres delivered a stark warning at this year's COP31 summit, saying the climate crisis iss advancing faster than governments' efforts to contain it.
Iran will not let a single particle of its enriched nuclear material leave the country, and any new U.S. attack would be met with strikes on distant American bases, Iranian security chief Mohsen Rezaei has said.
Nvidia chief executive Jensen Huang is stepping down amid reports linking him to a woman suspected by U.S. authorities of spying for China, throwing the future of the $4 trillion chipmaker into uncertainty.
Four million workers across Spain joined a general strike on Wednesday over the country’s deepening housing crisis, unions said, bringing disruption to factories, ports, shops and public transport just weeks before a snap general election.
Microsoft struggled to restore its services on Friday after a major outage disrupted Outlook, Teams and Copilot across the United States and Asia-Pacific region.
President Vladimir Putin agreed on Thursday to let European representatives join the next round of Ukraine peace talks while the United States continues to work towards what could become the largest prisoner exchange of the Russia-Ukraine war.
Azerbaijan and the UK have pledged to strengthen defence, trade and education cooperation after signing a joint declaration elevating relations to a strategic level in Dublin, Ireland on Thursday (12 November).
More than 333,000 people have been forced from their homes in Yemen since the beginning of August as fighting has escalated, including more than 24,000 in the past week alone, the United Nations said on Thursday.
A court in Russia’s Baltic exclave of Kaliningrad has sentenced human rights lawyer Maria Bontsler to 12 years in prison on treason charges, after prosecutors accused her of passing sensitive information to Ukraine.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment