- U.S. stock indexes are rising during today’s session but gave back part of their gains following comments from U.S. President Donald Trump. Trump stated that he would not lower tariffs on China until Beijing “gives something” to the United States. He added that another pause in tariffs is unlikely and that people are “only just beginning to understand how good tariffs are.”
- As of 8:00 PM, the Nasdaq 100 index is up 0.55%, and the S&P 500 is up 0.3%.
- Alphabet shares erased part of their post-earnings gains and are now trading about 1.2% higher. The strongest performers are Nvidia and Tesla stocks, rising by approximately 3.5% and 9%, respectively. Tesla shares rallied following reports of upcoming deregulation for autonomous vehicles in the U.S. market and a supportive stance from the U.S. administration on the matter.
- Consumer sentiment, according to the University of Michigan, fell for the fourth consecutive month, dropping to 52.2, with expectations falling to 47.3. Five-year inflation expectations held steady at 4.4%, while one-year inflation expectations dropped from 6.8% to 6.5%—still remaining very high.
- The Euro Stoxx 50 index, representing Europe’s 50 largest companies, posted its best week of the year so far, gaining 4.43%. Optimism dominated almost all stock exchanges across the Old Continent (DAX: +0.8%, CAC40: +0.45%, FTSE100: +0.1%). The most profitable sectors were automotive, materials, and technology.
- On the forex market: the U.S. dollar is rebounding from its lows after news that China is considering suspending 125% tariffs on U.S. medical equipment and some chemicals (USDIDX: +0.15%). Among G10 currencies, the Swedish krona (USDSEK: +0.77%) and the Japanese yen (USDJPY: +0.6%) saw the largest corrections. EURUSD declined the least, dropping by 0.1% to 1.1381.
- Following Trump’s comments, gold pared back losses that earlier exceeded 2%; the metal is now down about 1.6%. Silver and palladium are each falling by around 1.7%, while platinum is down by 0.8%. The U.S. dollar (USDIDX) is gaining over 0.2%, while EURUSD slips by 0.07% to 1.137.
- Crude oil is trading flat, while natural gas (NATGAS) is up around 0.5%. In the agricultural commodities market, sugar stood out with gains of nearly 1.8%, and cocoa futures extended their bullish momentum with an almost 3% rise, testing the area near $9,400 per ton.
- Bitcoin rose above $95,000 today but gave back part of its gains after the market was spooked again by Trump's comments on tariffs.
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