Latest news with #DowFutures
Time of India
a day ago
- Business
- Time of India
Temporary relief? Sensex soars 1,046 points on foreign buying
Sensex soars 1,046 points on foreign buying (Picture credit: ANI) MUMBAI: Strong foreign fund buying supported by speculators' short covering late in the session on Friday led to a four-figure points jump in the Sensex. After opening marginally higher, the benchmark picked up gains through the session to close 1,046 points or 1.3 per cent higher above the 82,400-point mark. On the NSE, Nifty too followed a similar trend and closed 244 points or 1 per cent higher at 25,038 points. Foreign investors, after showing mixed trends for the last few sessions, turned strong buyers on Friday with a net inflow of Rs 7,704 crore. Domestic funds, on the other hand, were net sellers at Rs 3,050 crore, BSE data showed. According to Prashanth Tapse of Mehta Equities, markets witnessed consolidation after the recent spell of subdued trend, as strong European cues and positive Dow Futures triggered a massive rally in local benchmarks. "Investors also resorted to short covering ahead of next week's monthly derivatives expiry." Tapse, despite Friday's gains, is cautious about the market direction since a number of headwinds have a chance of impeding the northward run. Investors should remain cautious due to the ongoing West Asia conflict, as any spike in crude oil prices owing to escalation in tension could fuel uncertainty and spook markets, he said. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Clean Warehouses = Safe Workplaces SearchMore Learn More Undo Late on Friday, Brent crude was trading at about $76.7/barrel while WTI crude was slightly above the $75 mark. Both were trading around their four-month high levels. The day's session in the domestic market made investors richer by nearly Rs 5 lakh crore, with BSE's market capitalisation now at Rs 447.7 lakh crore. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Forbes
13-06-2025
- Business
- Forbes
Oil Prices Spike As Israel Strikes Iranian Nuclear Program
Global crude oil prices jumped sharply while US stock futures fell early on Friday after Israel conducted a round of military strikes against Iran's nuclear program and military leadership, marking a significant escalation of tensions in the Middle East region. People look over damage to buildings in Nobonyad Square following Israeli airstrikes in Tehran, ... More Iran. The global benchmark Brent Crude Futures index briefly touched $78 per barrel, up 13% from the previous day—the biggest single-day jump since the early days of Russia's invasion of Ukraine, according to Bloomberg. At the time of publishing, prices settled at $74.4 per barrel, which is more than 7% from the previous day. The U.S.'s West Texas Intermediate benchmark also surged by more than 7% to nearly $73 a barrel. US stock futures took a hit in early trading, with S&P 500 Futures slumping 1.2% to 5,977.50 points, while Dow Futures slid 1.15% to 42,816 points. The tech-focused Nasdaq futures fell nearly 1.5% to 21,833 points. This is a developing story.
Business Upturn
03-06-2025
- Business
- Business Upturn
Global equities steady as Asian markets open higher; US futures dip amid trade uncertainty
By News Desk Published on June 3, 2025, 07:37 IST Global equities opened the week on a mixed note, with Asian markets trading with marginal gains, buoyed by last week's tech-led rebound in US markets. However, US stock index futures slipped slightly in early trade, as investors await further clarity on President Donald Trump's trade tariffs and the broader outlook for the US economy. Sentiment was cautious as the US dollar remained under pressure, reflecting ongoing concerns about renewed trade tensions and their potential to slow global growth in the coming months. Key global market snapshots: Dow Futures were down 85 points at 42,221 (-0.20%). Nasdaq Futures slipped 42 points to 21,450 (-0.19%). US Small Cap 2000 Futures fell 7 points to 2,063 (-0.33%). In Europe, early signals were positive: DAX Futures rose 77 points to 24,053 (+0.32%). FTSE Futures were up 15 points at 8,809 (+0.17%). In Asia, markets opened firm: Hang Seng Futures jumped 275 points to 23,294 (+1.19%). KOSPI edged up 1.3 points to 2,699 (+0.05%). Taiex Futures surged 328 points to 21,197 (+1.57%). Nikkei 225 gained 221 points to 37,692 (+0.59%). For Indian markets, Gift Nifty was down 10 points at 24,861 (-0.04%) in early adjusted trade, suggesting a flat to cautious start. US markets closed higher on Friday, led by tech stocks: Dow Jones Industrial Average ended up 35 points at 42,305 (+0.08%). Nasdaq Composite gained 129 points to 19,242 (+0.67%). Traders are likely to watch upcoming US macro data, any new signals on tariff policy, and currency trends, all of which could influence short-term risk sentiment. News desk at
Yahoo
30-05-2025
- Business
- Yahoo
Trump Hammers the Markets with New Scorched Earth Trade War on Apple and Europe
Donald Trump reignited his scorched-earth trade war on Friday, unleashing a fiery social media tirade that took aim at Apple and Europe with fresh tariff threats. In classic flip-flop fashion, the president is back on the offensive. Just weeks after hitting pause on his so-called 'reciprocal' tariffs amid market turmoil, he's doubling down with predictable results sending Dow Futures plunging by around 400 points in early trading. In blistering posts on Truth Social on Friday morning, Trump warned that Apple would face a 25 percent tariff unless it moves iPhone production to the U.S. He also said he is 'recommending' a 50 percent tariff on the European Union starting June 1, escalating tensions with the continent that is traditionally one of America's closest allies. The EU 'has been very difficult to deal with,' Trump wrote. 'Our discussions with them are going nowhere!' Increased tariffs on Europe would lead to huge effective taxes on luxury goods. 'We've had this de-escalation tailwind at the market's back for like six weeks now — and the market has had one of its best six-week stretches in the last 75 years — and a re-escalation of trade war rhetoric threatens that,' Ross Mayfield, an investment strategist, told CNBC. Trump's first call of order was to escalate his stand-off with Apple CEO Tim Cook after the tech giant signaled it would switch assembly of its iPhones for the U.S. market to India. The president threatened the company after Cook failed to bend the knee and was a notable absentee from the tech mogul road trip to the Mideast last week. The California giant's shares immediately fell 3 percent in premarket trading. After previously reversing tariffs on Apple goods, Trump said the tech company will face a 25 percent tariff if production for iPhones isn't shifted to the U.S. 'I have long ago informed Tim Cook of Apple that I expect their iPhones that will be sold in the United States of America will be manufactured and built in the United States, not India, or anyplace else,' Trump wrote. 'If that is not the case, a Tariff of at least 25% must be paid by Apple to the U.S,' he added. 'Thank your for your attention to this matter!' His warning came days after Cook said that factories in India would soon supply the 'majority' of iPhones sold in the U.S., as the tech company attempts to swerve the tariffs Trump has slapped on Chinese-made products. Apple plans to source the 60 million iPhones sold annually in the U.S. from India by the end of 2026, according to the Financial Times. The newspaper also reported Friday that Foxconn, a key Apple supplier, is investing $1.5 billion to ramp up production of the company's best-selling product in India. According to Reuters, it's unclear if Trump can slap tariffs on an individual company. The very public warning came days after Trump said he told his 'friend' Cook that he 'had a little problem' with him looking to build Apple products in India. 'I said to Tim… 'Tim look, we treated you really good…India can take care of themselves ... we want you to build here,'' Trump said. The Daily Beast has contacted Apple for comment. Trump took aim at the EU some 30 minutes later, over what he said was stalled trade negotiations between the key trading partners. 'The European Union, which was formed for the primary purpose of taking advantage of the United States on TRADE, has been very difficult to deal with,' the president said. 'Their powerful Trade Barriers, Vat Taxes, ridiculous Corporate Penalties, Non-Monetary Trade Barriers, Monetary Manipulations, unfair and unjustified lawsuits against Americans Companies, and more, have led to a Trade Deficit with the U.S. of more than $250,000,000 a year, a number which is totally unacceptable,' he ranted. Trump added: 'Our discussions with them are going nowhere! Therefore, I am recommending a straight 50% Tariff on the European Union, starting on June 1, 2025. There is no Tariff if the product is built or manufactured in the United States.' Top U.S. and EU trade officials were expected to hold talks Friday to assess progress in their ongoing tariff negotiations, the Wall Street Journal reported. Officials have a prearranged call at 11:30 a.m. and the EU won't comment on Trump's threats until after that call takes place said, an official said. The outburst came after weeks of market chaos triggered by Trump's sweeping 'reciprocal tariffs' on more than 180 countries. He announced a 90-day pause just a week later, granting a brief window for trade deal negotiations to take place between every country besides China—though the U.S. and China had finally agreed to a 90-day truce beginning May 14 to significantly lower tariffs.
Fast Company
29-05-2025
- Business
- Fast Company
Chip stocks and Big Tech shares jump on Trump tariffs ruling, Nvidia's earnings, and Elon Musk news
Stock markets are moving higher in premarket trading on Thursday as of the time of this writing. Two groups of stocks are doing particularly well: Big Tech's Magnificent Seven and major chipmaker stocks. Shares in one stock that crosses over into both groups—Nvidia Corporation (Nasdaq: NVDA)—are currently up 6% in premarket trading. But NVDA isn't the only chip and tech stock that is up. Other major technology companies like Apple Inc. (Nasdaq: AAPL), Inc. (Nasdaq: AMZN), and Broadcom Inc. (Nasdaq: AVGO) are also trending significantly higher. Why are Big Tech and chipmaker stocks surging this morning? It comes down to three pieces of news. Here's what you need to know. Markets and Big Tech jump on Trump tariff court ruling As of the time of this writing, market futures are trending higher this morning. S&P Futures are currently up 1.1%, Dow Futures are up 0.56%, and Nasdaq Futures are up 1.6%. The main reason for this broad surge in futures is a ruling issued by the U.S. Court of International Trade on Wednesday that declared President Trump's 'Liberation Day' tariffs illegal. As CNBC notes, the three-judge panel ruled that the mechanism Trump used to invoke the tariffs without Congressional approval—the International Emergency Economic Powers Act (IEEPA)—doesn't grant the president the authority to impose universal tariffs. The judges declared that 'the Worldwide and Retaliatory Tariff Orders exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,' and ordered not only a permanent halt to the tariffs but future modification to them as well. As Fast Company previously reported, multiple states and small businesses sued over the implementation of the tariffs. The judges also ruled against the Trump administration's implementation of tariffs against Canada, Mexico, and China based on the importation of fentanyl into the United States, saying those separate tariffs 'fail because they do not deal with the threats set forth in those orders.' Not all of Trump's tariffs have been ruled unlawful. The president's tariffs on aluminum and steel can remain because they were not implemented under the IEEPA. The Court of International Trade gave the Trump administration 10 days to put a halt to the tariffs ruled illegal, but the Trump administration has already appealed the ruling, which may very likely end up before the Supreme Court. While the tariff situation is likely to continue to play out in the courts in the weeks ahead, news of the ruling has lifted futures—and Big Tech stocks. The companies that make up Big Tech's Magnificent Seven—Google, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla—faced particular challenges from the tariffs since many of their products are sourced from China, the country that received the highest tariffs. If not directly sourcing their products from China, they still rely on supplies or components from the country, such as servers, that the tariffs have threatened to make acquiring more expensive. Here's how Big Tech's Magnificent Seven stocks are currently trading based on the news: Alphabet Inc. (Nasdaq: GOOG): up 1.29% Inc. (Nasdaq: AMZN): up 2.5% Apple Inc. (Nasdaq: AAPL): up 2.4% Meta Platforms, Inc. (Nasdaq: META): up 1.4% Microsoft Corporation (Nasdaq: MSFT): up 0.8% NVIDIA Corporation (Nasdaq: NVDA): up 6% Tesla, Inc. (Nasdaq: TSLA): up 2.49% Elon Musk's time in the Trump administration 'comes to an end' One of the Magnificent Seven stocks—Tesla—is certainly getting a boost from the ruling against Trump's tariffs, but there's likely another reason why the stock is trending higher today, too. That reason is Elon Musk. On Wednesday, the CEO took to his social media platform X to announce that his time in the Trump administration has come 'to an end.' 'As my scheduled time as a Special Government Employee comes to an end, I would like to thank President @realDonaldTrump for the opportunity to reduce wasteful spending,' Musk wrote, adding, 'The @DOGE mission will only strengthen over time as it becomes a way of life throughout the government.' Musk joined the administration in January to head the controversial Department of Government Efficiency (DOGE). But his work with the administration and DOGE has cost his most well-known company, Tesla, dearly. Musk's involvement in politics has alienated many of the carmaker's fans across the globe, leading to plummeting Tesla sales in many key markets, including those in Europe and the United States. News that he is leaving DOGE and the Trump administration is something Tesla investors have been waiting to hear for a long time—and it's contributing to TSLA stock moving higher this morning. Nvidia's earnings lift chip stocks Finally, while many chipmaker stocks are also getting a lift today due to the Trump tariff ruling news, chipmaker and chipmaker-adjacent stocks, including chip machine maker ASML Holding N.V. (Nasdaq: ASML), are also seeing a boost thanks to Nvidia's Q1 fiscal 2026 earnings results, which the company announced yesterday. Nvidia reported revenue of $44.1 billion, which was up 12% from the previous quarter and 69% from the same quarter a year earlier. It also reported data center revenue of $39.1 billion, a 10% rise from the previous quarter and a 73% rise from the same quarter a year ago. As CNBC notes, the better-than-expected earnings results have sent NVIDIA Corporation shares higher. Currently, they are up 6%. But since Nvidia is often seen as a bellwether for other chipmakers and chipmaker-adjacent stocks, companies operating in those spaces are also seeing their shares rise this morning on Nvidia's news. Moreover, as Nvidia's technology has been playing a key role in powering the artificial intelligence (AI) revolution, its earnings beat was seen as a sign that demand for AI remains strong. All in all, it's looking like a positive start to the morning in the markets, especially for stocks that operate in the Big Tech and chipmaker sectors.
