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U.S. indexes post modest gains at the end of the week, driven by hopes for finalizing a trade agreement between the U.S. and the European Union.
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President Donald Trump stated that most U.S. trade deals are practically ready — letters are currently being sent out specifying tariff rates, usually ranging from 10% to 15%. Regarding the EU, he expressed that there is a "pretty good chance" of reaching a trade agreement.
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However, in relation to Canada, Trump admitted that talks are not going well and he is considering imposing unilateral trade tariffs.
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European Commission President Ursula von der Leyen said she had a positive phone call with President Trump and plans to meet him on Sunday in Scotland. The main topic of discussion will be maintaining strong transatlantic trade relations.
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At the time of publication, the US500 and US100 were both up 0.28%, trading at 6,423 and 23,452 points respectively. The US2000 lost 0.11% to 2,265 points.
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Intel (INTC.US) shares dropped 10% following mixed Q2 results and weak EPS guidance for Q3. The company is undergoing restructuring, reducing headcount by 15%, and scaling back factory plans in Europe and Costa Rica.
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Deckers Outdoor (DECK.US) surged 12.30% after a strong Q1. The company reported nearly 17% revenue growth driven by its HOKA and UGG brands. Q2 guidance also topped expectations, with forecasted sales of $1.38–$1.42B and EPS of $1.50–$1.55.
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Sentiment was more subdued. Germany’s DAX declined 0.27% on the cash market, while Poland’s WIG20 fell nearly 0.18%. Orlen shares underperformed in Poland, whereas Dino Polska gained.
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LVMH (MC.FR) – The group reported a 9% drop in sales from its fashion and leather goods segment in Q2, once again disappointing the market. The biggest demand drop came from China and Japan. Despite €9B in H1 net income (above forecasts), shares declined. Louis Vuitton plans a new factory in Texas in response to tariffs, while Dior enters a transition phase under Jonathan Anderson. Still, the fashion sector is showing resilience, partly due to recent comments about easing tariff pressure.
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Improved sentiment — primarily rising confidence in the U.S. following Trump’s comments about a pending deal with the EU — pushed gold prices down over 1%.
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For the same reason, strong risk appetite is also reflected in the U.S. dollar, which is among the best-performing currencies today.
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Bitcoin sees a slight correction of 1.86% to $116,100. Ethereum is down about 1.90% to $3,635, and other altcoins fall 0.90%, bringing total market cap to $999B. Bitcoin dominance slips slightly but remains high at 61.60%.
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