While this move was considered a rational step to alleviate short-term financial pressures, it was ultimately a stopgap measure that did not address the underlying risks or restore confidence. US stocks were mixed on Tuesday as President Trump’s massive budget bill passed in the Senate and Wall Street watched for progress on trade talks. Canada scrapped a digital services tax targeting US tech companies late on Sunday — just hours before it was set to start collecting payments — in a bid to revive stalled trade negotiations. The S&P 500 and the Nasdaq Composite last week had clinched new record highs for the first time since February — the start of the year’s tariff-fueled stock swings. US stocks climbed to fresh records on Monday amid signs of progress in trade talks, ending one of the most volatile first halves of a year in recent memory. Oil prices fell in late Asian hours, reversing course from gains earlier in the day.
President Donald Trump threatened to impose a fresh tariff level on Japan, while his top economic adviser said the White House aims to finalise deals with partners after the July 4 holiday. After a harsh contraction last year at the start of Milei’s austerity drive, economic activity grew in the first two months of this year, but fell in March amid market flummox just before inking the new IMF deal. Economic activity rose 1.9% in April from March, compared with the median dowmarkets estimate of 0.3% of analysts surveyed by Bloomberg.
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Analyst Richard Shane said in a note that Chase client data shows that spending is up relative to May but still appears to be decelerating overall. Among the 48 stocks in the ETF, Centrus Energy Corp. is ahead 5% early Monday, Nuscale Power Corp. is higher by 1.3%, Uranium Energy Corp. by 1.2%, Energy Fuels Inc. by 0.6% and Oklo Inc. by 0.5%. He also anticipates the company’s 2026 earnings before interest, taxes, depreciation, and amortization will come in about $1 billion below consensus, barring any change in the macro or significant supply closures. Futures for West Texas Intermediate crude are now down less than 1% on the day.
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Stocks in Tel Aviv reached an all-time high on bets Washington’s entrance into the conflict with Tehran would help it to come to an end. The broader TA-125 index was 1.77% higher, while the TA-35, Tel Aviv’s blue-chip index, was up 1.5%. Markets across the Middle East ended mostly higher on Sunday after the United States entered the war between Israel and Iran. The S&P 500 was the only of the three major averages that ended last week lower. Consumer spending is holding up so far this month but there are signs of weakness, according to JPMorgan. “Finally, with no end in sight for these anemic earnings levels, there appears a heightened risk DOW may cut the dividend,” Beck added.
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Projections released at the Fed’s policy meeting earlier this month showed 10 officials would look through the price impact from tariffs and expect to lower rates at least two times this year. But seven officials penciled in no rate cuts for this year, suggesting they are more concerned that tariffs could lead to more persistent price pressures. Wall Street strategists warn that despite recent stock market highs, investors should be wary of rising tariffs and economic uncertainty. Stocks are wrapping up a stellar quarter at all-time highs amid signs of progress in US trade talks, while hopes the Federal Reserve will resume its rate cuts drove Treasuries toward their biggest first-half stretch in five years.
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As the war erupted, the Tehran Stock Exchange was promptly shut down for nine consecutive trading days. This unprecedented closure was enacted under Article 23 of the Securities Market Law, which allows for the suspension of trading in emergency situations, subject to approval by the relevant regulatory council. The primary aim was to shield investors from extreme volatility and prevent a mass exodus of capital amid the uncertainty. ADP data showed US private employers unexpectedly cut 33,000 jobs in the month, badly missing expectations of around 98,000 jobs added. It was the first month of job losses in the private sector in over two years.
Equity market — but he conceded that “it is not surprising” given that it would form the latest development in a wider established trend. The situation was exacerbated by the suspension of major stocks such as Iran Khodro and Saipa, which was a last-ditch attempt to prevent even steeper declines in the main index. By signing up to newsletters, you agree to our Terms of Use and acknowledge the Privacy Policy. CNN and its affiliates may use your email address to provide updates, ads, and offers. Senate lawmakers voted 50-50, with Vice President JD Vance breaking the tie, to pass Trump’s signature tax and spending bill, racing to meet the president’s desired July 4 deadline. The bill now goes back to the House, which will vote on the Senate’s changes.
Apple Inc. is considering using artificial intelligence technology from Anthropic PBC or OpenAI to power a new version of Siri, sidelining its own in-house models in a potentially blockbuster move aimed at turning around its flailing AI effort. Such an approach would have helped in 2021, when vaccines allowed the global economy to reopen rapidly but also triggered a surge in inflation, according to Lagarde, whose speech kicked off the ECB’s annual central-banking forum in Sintra, Portugal. Tweaks to the European Central Bank’s strategy unveiled Monday will allow policymakers to deliver more nuanced communication in an increasingly unpredictable world, President Christine Lagarde said. The financing package was signed on April 11, and Argentina lifted significant currency and capital controls with little impact on the currency, though restrictions remain in place for businesses. As of early June, external applicants must be screened by district managers in addition to the manager of the store where they’re applying, according to people familiar with the matter who weren’t authorised to speak publicly. District managers normally oversee about 10 locations and weren’t previously part of the hiring process at the store level.
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So far, his administration has hammered out only two accords — not full-blown agreements — with China and the UK, with the British tariff deal going into effect on Monday. The muted reaction in equity markets following the U.S. attacks on Iran shows investors aren’t worried about a shock to the oil market, according to Adam Crisafulli of Vital Knowledge. “The significant weakness across its end-markets resulting in soft pricing and lower vols/op rates is likely to result in severely challenged 2Q EBITDA and 2H estimates coming solidly lower,” analyst Josh Beck wrote in a note. Crude prices tumbled Monday after Iran’s response to U.S. attacks was more muted than traders feared. West Texas Intermediate futures settled more than 7% lower at $68.51 per barrel. Oil traders expect OPEC+ will agree a fourth bumper oil supply increase this weekend as group leader Saudi Arabia continues its bid to reclaim market share.
- The lawsuit is an existential threat to Apple and could upend its highly lucrative mobile hardware business.
- Oil prices ticked lower after President Donald Trump urged “everyone, keep oil prices down” in a post on Truth Social.
- Instead, officials are racing to find narrower agreements before July 9, when the president’s sweeping “reciprocal” tariffs are set to resume.
- Equity market — but he conceded that “it is not surprising” given that it would form the latest development in a wider established trend.
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- Without such measures, the risk is that the crisis will deepen, eroding what little trust remains in Iran’s capital markets and further damaging the broader economy.
- The inclusion of a company in the Dow Jones Industrial Average does not depend on defined criteria.
- But seven officials penciled in no rate cuts for this year, suggesting they are more concerned that tariffs could lead to more persistent price pressures.
- Futures for West Texas Intermediate crude are now down less than 1% on the day.
Pressure is piling on London’s stock exchange, with reports that British pharma giant AstraZeneca may move its listing to the U.S. delivering yet another blow this week. The 12-day war between Iran’s regime and Israel has left the Tehran Stock Exchange reeling. A nine-day shutdown, followed by a chaotic and unsupported reopening, triggered one of the worst sell-offs in the market’s history. The regime’s failure to manage the fallout has shattered investor confidence and left the market in a state of prolonged distress. During this period, only fixed-income funds were partially reopened, allowing investors to access immediate liquidity for essential needs.
“This isn’t an isolated story — and that’s the biggest issue. It’s part of a broader shift, where founders and boards are increasingly looking to the US for deeper capital, stronger support, and a more ambitious investor base.” To be sure, Iran could target other U.S. bases or close the Strait of Hormuz, which would majorly disrupt global oil flows. In a Sunday interview with Fox News, U.S. Secretary of State Marco Rubio called for the Chinese government to step in and prevent Iran from closing the key trade route. Stocks rose and crude prices tumbled Monday as investors breathed a sigh of relief that Iran’s response to the U.S. attacks over the weekend was more restrained than expected.