BANGKOK (AP) — World shares started the week mixed, with European markets opening lower, after U.S. stocks closed at an all-time high following their recovery from the shocks of the Trump administration’s
to cancel a plan to tax U.S. technology firms that had led President Donald Trump to halt trade talks helped to steady the markets.
U.S. stock futures advanced after Canadian Prime Minister Mark Carney said the talks had resumed. The future for the S&P 500 was up 0.4% while that for the Dow Jones Industrial Average gained 0.5%.
Germany’s DAX edged 0.2% lower to 23,979.42, while the CAC 40 in Paris also gave up 0.2%, to 7,676.98. Britain’s FTSE 100 lost 0.3% to 8,773.30.
In Asian trading, Tokyo’s Nikkei 225 climbed 0.8% to 40,487.39.
Hong Kong’s Hang Seng lost 0.9% to 24,072.28, while the Shanghai Composite index advanced 0.6% to 3,444.43.
China reported that its improved slightly in June after Beijing and Washington agreed in May to postpone imposing higher tariffs on each others’ exports, though manufacturing remained in contraction.
In South Korea, the Kospi gained 0.5% to 3,071.70. Australia’s S&P/ASX 200 rose 0.3% to 8,542.30.
Taiwan’s Taiex lost 1.4% and the Sensex in India was down 0.6%. In Bangkok, the SET gained 0.7%.
On Friday, the S&P 500 rose 0.5% to 6,173.07, above its previous record set in February. The key measure of Wall Street’s health fell nearly 20% from Feb. 19 through April 8.
The Nasdaq composite gained 0.5% to 20,273.46, its own all-time high. The Dow Jones Industrial Average rose 1% to 43,819.27.
The gains on Friday were broad, with nearly every sector within the S&P 500 rising. for the biggest gain in the market, despite warning of a steep hit from tariffs.
An in May, though the rate mostly matched economists’ projections.
Inflation remains a big concern. Trump’s on-again-off-again tariff policy has made it difficult for companies to make financial forecasts and strained household budgets. A long list of businesses from carmakers to retailers have warned that higher import taxes will likely hurt their revenues and profits.
The U.S. has 10% baseline tariffs on all imported goods, along with higher rates for Chinese goods and other import taxes on steel and autos and the threat of more severe tariffs continues to hang over the economy. The current pause on a round of retaliatory tariffs against a long list of nations is set to expire on July 9. Failure to negotiate deals or further postpone the tariffs could once again rattle investors and consumers.
In an interview with Fox News Channel’s “Sunday Morning Futures,” his administration will notify countries that the trade penalties will take effect unless there are Letters will start going out “pretty soon” before the , he said.
The Federal Reserve is monitoring the tariff situation with a big focus on inflation. The rate of inflation has been stubbornly sitting just above the central bank’s target of 2%. In a report Friday, its preferred gauge, the personal consumption expenditures index, rose to 2.3% in May. That’s up from 2.2% the previous month.
The Fed cut interest rates three times in late 2024 following a historic series of rate hikes to cool inflation, but has held back this year due to worries that the tariffs could reignite inflation. The PCE was as high as 7.2% in 2022, while the more commonly used consumer price index hit 9.1%.
Economists still expect at least two rate cuts before the end of the year.
Bond yields held relatively steady. The yield on the 10-year Treasury fell to 4.26% from 4.27% late Friday. The two-year Treasury yield, which more closely tracks expectations for what the Federal Reserve will do, stood at 3.73%.
In other dealings early Monday, U.S. benchmark crude oil lost 15 cents to $65.37 per barrel. Brent crude, the international standard, gave up 18 cents to $66.62 per barrel.
The U.S. dollar fell to 144.26 Japanese yen from 144.46 yen. The euro fell $1.1721 from $1.1725.
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