The S&P 500 and Nasdaq indices closed at record highs on Wednesday, buoyed by strong performances from Nvidia and power equipment manufacturer GE Vernova, amid signs of a potential US-European Union trade agreement reminiscent of a prior US-Japan deal.
Diplomatic sources suggest the prospective agreement may introduce a 15% tariff on European Union imports, possibly including vehicles, echoing the framework established between the U.S. and Japan.
The S&P 500 rose 0.78% to finish at 6,358.91 points, while the Nasdaq climbed 0.61% to 21,020.02 points. The Dow Jones Industrial Average increased by 1.14%, closing at 45,010.29 points, just shy of its 4 December record.
Shares of GE Vernova surged 14.6% to an all-time high after the company raised its revenue and free cash flow forecasts, beating second-quarter earnings expectations. The firm has now gained over 80% in 2025, driven by soaring electricity demand from Artificial Intelligence and cryptocurrency data centres.
Meanwhile, AI chip giant Nvidia advanced 2.25%, significantly contributing to the upward momentum in both the S&P 500 and Nasdaq.
Tesla shares edged up 0.14% ahead of its earnings report, due after market close. Analysts anticipate a sharp decline in revenue due to intensifying competition, a limited new model line-up, and a consumer backlash against CEO Elon Musk.
Alphabet, the parent company of Google, saw its stock slip 0.58%, also poised to release quarterly results after trading hours.
Texas Instruments dropped 13% following a disappointing earnings outlook, citing softer demand and tariff-related uncertainty. The report weighed on the broader analogue chip segment, pulling down shares of NXP Semiconductors, Analog Devices, and ON Semiconductor by between 1% and 4.6%.
U.S. existing home sales declined more than expected in June. Markets now await weekly jobless claims and S&P Global’s flash PMI figures for further insight into the economic landscape amid ongoing trade tensions.
Following last week’s mixed economic indicators, traders have largely ruled out an interest rate cut by the Federal Reserve at next week’s meeting. According to the CME FedWatch tool, the likelihood of a rate reduction in September is currently around 58%.
Advancing issues in the S&P 500 outpaced decliners by a 2.1-to-1 ratio. The index posted 50 new highs and 2 new lows, while the Nasdaq recorded 96 new highs and 20 new lows.
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The Amazon River’s future is increasingly defined by the condition of the wider Amazon Basin, a forest system that anchors the river’s rainfall, b...
McLaren’s Lando Norris mastered the wet conditions under the lights of Las Vegas to secure pole position for Saturday’s Grand Prix, beating Red Bu...
Top officials from the United States, Ukraine and Europe are meeting in Geneva to negotiate Washington’s draft plan to end the war in Ukraine, with ...
The leaders of eight Nordic and Baltic nations held a joint call with Ukrainian President Volodymyr Zelenskyy on Saturday, pledging continued military...
Astana turned into a regional cultural hub as Silk Way Star held its grand finale, bringing months of competition to a close and gathering artists from across Asia on one stage. Mongolia’s Michelle Joseph won the first season, marking the end of a project that drew viewers from around the world.
The Amazon River’s future is increasingly defined by the condition of the wider Amazon Basin, a forest system that anchors the river’s rainfall, biodiversity and hydrological balance. Scientists warn the relationship has entered a fragile phase.
McLaren’s Lando Norris mastered the wet conditions under the lights of Las Vegas to secure pole position for Saturday’s Grand Prix, beating Red Bull’s Max Verstappen in a tense and slippery qualifying session that could prove pivotal in the championship race.
Top officials from the United States, Ukraine and Europe are meeting in Geneva to negotiate Washington’s draft plan to end the war in Ukraine, with pressure mounting ahead of Thursday’s deadline set by U.S. President Donald Trump for Kyiv to respond.
The pilot of an Indian fighter jet performing in the Dubai Air Show has died after the aircraft crashed during an aerial display on Friday.
An Indian Tejas fighter jet crashed in a ball of fire during an aerial display at the Dubai Airshow on Friday (November 21), leaving spectators in shock.
The United States is preparing to launch a new round of Venezuela-related operations in the coming days, as President Donald Trump’s administration intensifies efforts to pressure President Nicolás Maduro’s government and targets what it calls Venezuela’s role in the regional drug trade.
Air traffic at Eindhoven Airport in the southern Netherlands was suspended on Saturday evening after multiple drones were sighted near the facility, prompting the deployment of counter-drone systems and raising fresh alarm over airspace security in Europe.
President Donald Trump said on Friday that he will soon speak with his Venezuelan counterpart, Nicolas Maduro, amid speculation that the U.S. could launch an attack on the Latin American nation.
The Amazon River’s future is increasingly defined by the condition of the wider Amazon Basin, a forest system that anchors the river’s rainfall, biodiversity and hydrological balance. Scientists warn the relationship has entered a fragile phase.
McLaren’s Lando Norris mastered the wet conditions under the lights of Las Vegas to secure pole position for Saturday’s Grand Prix, beating Red Bull’s Max Verstappen in a tense and slippery qualifying session that could prove pivotal in the championship race.
Top officials from the United States, Ukraine and Europe are meeting in Geneva to negotiate Washington’s draft plan to end the war in Ukraine, with pressure mounting ahead of Thursday’s deadline set by U.S. President Donald Trump for Kyiv to respond.
The leaders of eight Nordic and Baltic nations held a joint call with Ukrainian President Volodymyr Zelenskyy on Saturday, pledging continued military and economic support for Kyiv and reaffirming their commitment to Europe’s collective security amid Russia’s ongoing aggression.
Brazil’s former President Jair Bolsonaro was taken into custody on Saturday after a Supreme Court justice cited an escape risk linked to a planned supporters’ vigil and evidence of tampering with his electronic ankle monitor, ending months of house arrest as he appeals his coup-plot conviction.
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