The S&P 500 fell 1.2% to close at 7,408.30, putting the benchmark on track for its first consecutive weekly declines since March. The Dow Jones Industrial Average dropped 506.93 points, or 1%, to 51,711.65, while the Nasdaq Composite slid 2.2% to 25,137.69.

Brent crude, the international oil benchmark, surged 7% to settle at $100.69 per barrel after briefly reaching $102 during trading, its highest level since May.

Oil Rally Renews Inflation Concerns

According to AP reporting, the latest surge in oil prices followed attacks on two Saudi oil tankers in the Red Sea, raising fresh concerns over the security of another critical shipping route for Middle Eastern crude exports.

The attacks added to existing market concerns over disruptions to the Strait of Hormuz, one of the world’s most important energy transit corridors.

President Donald Trump warned of “major military punishment” against Yemen’s Iran-backed Houthi rebels if attacks on commercial shipping continue, underscoring the growing geopolitical risks facing global energy markets.

Only weeks earlier, Brent crude had traded below $72 per barrel as investors anticipated that easing regional tensions could restore normal shipping through the Strait of Hormuz.

Markets Reassess Interest Rate Outlook

The renewed increase in energy prices has intensified concerns that inflation could accelerate after showing signs of moderating.

Persistently higher inflation could prompt central banks to maintain tighter monetary policy, increasing borrowing costs and weighing on economic growth and equity valuations.

The European Central Bank left its benchmark interest rates unchanged at Thursday’s policy meeting. Meanwhile, CME Group data showed traders assigning a 36% probability that the Federal Reserve will raise its benchmark interest rate at next week’s meeting, up from nearly 12% a week earlier.

If implemented, it would mark the Fed’s first interest rate increase since 2023.

Treasury Yields and Fuel Prices Rise

Higher oil prices also pushed Treasury yields higher. The yield on the benchmark 10-year U.S. Treasury note rose to 4.69% from 4.67% on Wednesday and has climbed from 3.97% before the conflict involving Iran intensified.

The increase has contributed to U.S. mortgage rates reaching their highest levels in nearly a year.

Consumers are also facing higher fuel costs. According to AAA, the national average price for a gallon of regular gasoline rose to $4.09, up from $3.93 a month earlier, although it remained below the roughly $4.56 peak recorded in May.

Airline Stocks Fall Despite Strong Earnings

Airline shares declined as investors focused on the prospect of higher fuel costs despite stronger-than-expected quarterly results.

American Airlines fell 8.4% after reporting quarterly profit that exceeded analysts’ expectations, saying stronger ticket prices helped offset rising fuel expenses.

Southwest Airlines dropped 6.2% despite also reporting quarterly profit and revenue above Wall Street forecasts.

Tesla and Alphabet Lead Technology Losses

Technology stocks added further pressure to the broader market.

Tesla plunged 14.5% after reporting quarterly profit below analysts’ expectations, making it one of the largest drags on the S&P 500.

Alphabet fell 7.1% despite posting stronger-than-expected revenue and earnings.

Investors instead focused on the company’s expanding artificial intelligence investment plans after Alphabet raised its full-year capital expenditure forecast and nearly doubled AI-related investment to about $45 billion from a year earlier.

Chief Executive Officer Sundar Pichai said artificial intelligence helped accelerate Google Cloud revenue growth to 82% during the latest quarter. Even so, investors continued to question whether the industry’s heavy AI spending will generate returns sufficient to justify elevated market valuations.

Global Markets Deliver Mixed Performance

European markets broadly declined as higher oil prices increased concerns over inflation and corporate costs. France’s CAC 40 fell 1.6%, one of the region’s largest declines.

Earlier in the day, Asian markets finished mostly higher, led by South Korea’s Kospi, which gained 4.4%.

This report is based on reporting by The Associated Press.

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Brent crude, the international oil benchmark, dropped 4.6% to $87.46 per barrel in early trading, while U.S. benchmark crude fell 5.1% to $84.79. The decline followed signs that hostilities between Washington and Tehran had paused after nearly two weeks of escalating conflict linked to attacks on shipping in the Strait of Hormuz.

Chinese Chipmaker Dominates Shanghai Debut

Chinese memory chipmaker CXMT was the standout performer in regional markets, with its shares surging about 470% during their first day of trading on Shanghai’s technology-focused exchange.

The rally lifted the company’s estimated market capitalization to about 3.3 trillion yuan, or nearly $490 billion, making it China’s most valuable publicly listed company.

Regional Markets Post Broad Gains

Lower oil prices helped improve investor sentiment across much of Asia by easing concerns over higher energy costs.

Japan’s Nikkei 225 rose 0.2% to 64,771.02, while South Korea’s Kospi gained 0.3% to 6,708.87.

Hong Kong’s Hang Seng Index climbed 0.8% to 25,164.81, and the Shanghai Composite Index advanced 0.4% to 3,827.96. Australia’s S&P/ASX 200 added 1.3% to 8,883.00.

Elsewhere, Taiwan’s Taiex slipped 0.3%, while India’s Sensex gained 0.7%.

Wall Street Ends Mixed Week

Despite Monday’s gains across much of Asia, Wall Street finished last week with mixed results.

The S&P 500 edged up less than 0.1% to 7,411.98 on Friday but posted its second consecutive weekly decline, its first two-week losing streak since March. The Dow Jones Industrial Average gained 0.5% to 51,947.25, while the Nasdaq Composite fell 0.6% to 24,975.82 as several large technology stocks came under pressure.

Micron Technology dropped 7%, and Broadcom fell 2.7%, weighing on the technology-heavy Nasdaq because of their large market capitalizations.

Inflation and Federal Reserve Outlook Remain in Focus

Investors continue to assess the potential economic impact of higher energy prices and new tariffs announced last week by President Donald Trump’s administration, both of which could add to inflationary pressures.

The Federal Reserve is scheduled to meet this week. According to AP reporting, persistent inflation has reduced expectations for an interest rate cut, while some investors have increasingly considered the possibility of another rate increase if price pressures remain elevated.

Higher fuel costs also continue to affect household budgets. According to AAA, the national average price for a gallon of regular gasoline stood at $4.11, below the highs reached earlier this spring but nearly $1 higher than a year ago.

AI Investment Continues to Face Scrutiny

Corporate earnings season is also keeping investor attention focused on whether heavy spending on artificial intelligence infrastructure can generate returns that justify elevated stock market valuations.

Major technology companies, including Alphabet and Nvidia, have invested billions of dollars to expand AI capacity, while investors increasingly seek evidence that those investments will translate into sustained profit growth.

This report is based on reporting by The Associated Press.

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The S&P 500 closed down 0.2% at 7,400.96 after reaching an all-time high a day earlier, while the Nasdaq Composite fell 0.7% to 26,088.20 amid weakness in semiconductor and AI-linked companies. The Dow Jones Industrial Average edged up 0.1% to 49,760.56, supported by gains in non-technology sectors, according to market data.

The market reversal reflected growing caution toward richly valued AI-related stocks following months of strong gains fueled by investor enthusiasm over artificial intelligence infrastructure spending and data center demand.

Chipmakers and AI infrastructure companies led the decline. Intel fell 6.8%, while Micron Technology dropped 3.6% after both stocks posted significant gains earlier this year. Cloud-computing company CoreWeave also declined 6.1%, trimming part of its 2026 advance.

Analysts said the downturn highlighted increasing sensitivity among investors to valuation risks in the technology sector, particularly as higher energy costs threaten to complicate the broader inflation outlook.

Oil prices climbed sharply as geopolitical tensions linked to the ongoing U.S.-Iran conflict continued to disrupt global supply routes. Brent crude rose 3.4% to settle at $107.77 per barrel, extending gains tied to shipping disruptions in the Strait of Hormuz, a critical channel for global energy exports.

The rise in crude prices added to investor concerns after recent U.S. inflation data came in above economists’ expectations, reinforcing fears that the Federal Reserve could maintain tighter monetary policy for longer. Treasury yields also moved higher as markets adjusted expectations for future rate decisions.

Technology Sector Faces Renewed Scrutiny

The latest selloff also reflected broader unease over the sustainability of the AI-driven market rally that has propelled major indexes throughout 2026.

Pressure on technology shares intensified after South Korea’s Kospi index fell 2.3% amid debate over proposals tied to redistributing AI-related corporate windfall profits, according to market reports. The decline in Asian tech stocks spilled into U.S. trading hours and amplified weakness in semiconductor shares.

Despite the retreat in major technology names, earnings results from several U.S. companies continued to provide support for parts of the market.

Zebra Technologies surged 11.4% after reporting quarterly results and full-year profit guidance above analyst expectations. The company cited continued enterprise demand for automation and workflow digitization products.

Other companies faced steeper declines tied to earnings disappointments and deal-related developments. Under Armour dropped 17% after reporting a wider-than-expected quarterly loss, while GameStop declined following the rejection of its acquisition proposal for eBay.

Global Markets Mixed as Energy Risks Persist

European and Asian equity markets also weakened as investors monitored energy supply disruptions and the potential economic effects of sustained higher oil prices.

Germany’s DAX fell 1.6%, while France’s CAC 40 lost 0.9%. Japan’s Nikkei 225, however, gained 0.5%, supported by selective technology buying.

Market strategists said equities remain vulnerable to swings in oil prices and inflation expectations, particularly as investors reassess whether the strong earnings growth underpinning recent gains can offset mounting geopolitical and macroeconomic risks.

Although major U.S. indexes remain significantly higher for the year, Tuesday’s session underscored the market’s growing dependence on continued AI-sector momentum and stable inflation conditions to sustain the rally.

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The dominant market angle was cross-asset reaction to geopolitical de-escalation, with lower oil prices directly feeding gains in export-heavy Asian bourses and improving risk sentiment after Wall Street’s strongest session in nearly a year.

Energy retreat drives regional equity rebound

Brent crude declined 4.4% to $99.44 a barrel, while U.S. benchmark West Texas Intermediate fell 3.8% to $97.55, according to market pricing cited by AP. The drop reversed part of the sharp risk premium built into crude during weeks of disruption near the Strait of Hormuz, the maritime chokepoint that handles roughly one-fifth of global oil flows.

Asian stock markets responded decisively. South Korea’s Kospi surged 8.4%, Tokyo’s Nikkei 225 advanced 5.2%, and Taiwan’s Taiex gained 4.6%, as investors rotated back into cyclical and technology-linked names that had been pressured by elevated energy costs and fears of margin compression.

Hong Kong’s Hang Seng rose 2.3%, mainland China’s Shanghai Composite added 1.5%, while India’s Sensex climbed 2.4%, underscoring the breadth of the rebound across the Asia-Pacific region.

The market response suggests investors are recalibrating expectations for near-term inflation trajectories, particularly in import-dependent Asian economies where fuel costs feed quickly into logistics, manufacturing, and consumer pricing.

Macro implications extend beyond oil

The decline in crude prices may offer modest relief for central banks monitoring war-related inflation spillovers. Earlier this week, U.S. gasoline prices had moved above $4 per gallon for the first time since 2022, reinforcing concerns that the conflict could delay monetary easing cycles globally.

A parallel boost came from domestic data in Japan, where a Bank of Japan survey showed improved sentiment among major manufacturers despite weeks of geopolitical uncertainty. That data point added a macroeconomic foundation to the equity rally beyond purely sentiment-driven gains.

Still, economists cautioned that even a formal military de-escalation may not fully unwind the supply-chain and freight disruptions already set in motion across shipping routes linked to the Gulf.

Wall Street strength reinforces global risk appetite

The rebound in Asia followed a strong lead from U.S. markets, where the S&P 500 rose 2.9%, the Dow Jones Industrial Average gained 2.5%, and the Nasdaq Composite climbed 3.8% in Tuesday trading. The gains reflected renewed appetite for growth sectors once the probability of prolonged oil shocks began to ease.

Semiconductor and healthcare deal activity also supported the broader tone. Nvidia gained after disclosing a $2 billion investment in Marvell Technology, while Eli Lilly announced an acquisition of Centessa Pharmaceuticals, reinforcing a risk-on backdrop for equities.

The combination of falling crude, stronger U.S. equities, and improved Asian manufacturing sentiment points to a market increasingly pricing a shorter-duration geopolitical shock, though volatility around Hormuz shipping security remains a critical variable for the next trading sessions.

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Wall Street took a sharp dive Wednesday, weighed down by climbing Treasury yields and growing worries about the U.S. government’s rising debt. After a six-day winning streak, the major indexes stumbled again, signaling renewed investor caution.

The S&P 500 dropped 1.6%, the Dow Jones Industrial Average fell nearly 2% (losing 816 points), and the Nasdaq slipped 1.4%. Early in the day, stocks had only dipped slightly, reacting to mixed profit forecasts from retailers like Target amid ongoing uncertainty around President Donald Trump’s trade policies. But the mood darkened after the U.S. Treasury auctioned $16 billion in 20-year bonds, offering a yield as high as 5.047% to attract buyers.

This move pushed yields higher across the board, including on the closely watched 10-year Treasury note, which jumped from 4.48% Tuesday to 4.59% Wednesday—up significantly from 4.01% just last month. Jonathan Krinsky, chief market technician at BTIG, noted that “bonds finally appear to be getting equities’ attention,” especially as the 30-year Treasury yield surged back above 5%, nearing its highest level since 2023.

The rising yields reflect worries over massive potential tax cuts in Washington, which could add trillions to the national debt. Inflation concerns fueled by Trump’s tariffs also continue to unsettle investors.

This trend isn’t limited to the U.S.; yields on government bonds across developed countries are climbing as governments borrow more and central banks like the Federal Reserve reduce their bond holdings.

Higher Treasury yields have broad effects: They can push up borrowing costs for consumers and businesses—from mortgages to credit cards—potentially slowing economic growth. Meanwhile, higher yields make stocks and other investments less attractive, leading investors to pull back.

Adding to the pressure, Moody’s became the last of the major credit rating agencies to downgrade the U.S. government’s credit rating last week, citing debt sustainability concerns. Bank of America strategists called the downgrade “a wake-up call” for investors who had been ignoring the nation’s fiscal challenges.

Retailers also faced challenges. Target’s shares fell 5.2% after reporting weaker-than-expected earnings and cutting its full-year profit forecast. The company acknowledged setbacks linked to customer boycotts after it scaled back diversity and inclusion efforts earlier this year—a move criticized by both the White House and some conservative groups.

Meanwhile, Carter’s, a baby apparel retailer, saw its stock plunge 12.6% after announcing a dividend cut. CEO Doug Palladini cited expected investments and the risk of rising costs due to proposed new tariffs on imports as reasons for the cut.

Overall, the S&P 500 closed down 95.85 points at 5,844.61, the Dow ended at 41,860.44, and the Nasdaq finished at 18,872.64.

Looking ahead, many companies are grappling with the impact of tariffs and economic uncertainty, making it tough to forecast the year ahead. Some, like Walmart, have already warned they may raise prices to offset tariff costs.

Recently, U.S. stocks had bounced back from earlier losses thanks to tariff delays and rollbacks by the Trump administration. Investors remain hopeful that further trade deals will lead to more permanent tariff reductions.

Overseas, markets showed mixed results. London’s FTSE 100 edged up 0.1% after inflation in the UK hit a year-high in April, while Tokyo’s Nikkei 225 dropped 0.6%, hurt by slower export growth linked to tariffs.

Source: AP News – Wall Street tumbles under the weight of rising Treasury yields and US debt worries

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Wall Street is set to open lower Monday morning after President Donald Trump reaffirmed his commitment to increasing tariffs, despite growing concerns about their economic impact.

Markets React to Tariff Uncertainty

• S&P 500 Futures: Down 0.1%
• Dow Jones Futures: Down 0.3%
• Nasdaq Futures: Unchanged

Trump, speaking to reporters aboard Air Force One, made it clear that he has no plans to reverse the tariff hikes scheduled for April 2.

“April 2 is a liberating day for our country,” Trump said. “We’re getting back some of the wealth that very, very foolish presidents gave away because they had no clue what they were doing.”

The new tariffs will target autos, steel, and aluminum, adding pressure to industries already grappling with economic uncertainty.

Retail Sales Report and Consumer Confidence

Later today, the government will release its retail sales report, offering insight into consumer spending habits.

• January retail sales saw the biggest monthly decline in a year, shocking analysts and signaling potential trouble ahead.
• Fast-fashion giant Forever 21 filed for bankruptcy over the weekend, marking its second financial collapse.
• Consumers and businesses continue to report declining confidence amid ongoing tariff uncertainties and policy shifts.

Federal Reserve Faces a Tough Decision

The Federal Reserve is set to meet this week to discuss interest rates, but ongoing economic turbulence has made its job more difficult.

• Inflation showed improvement last month but remains high, with tariffs potentially pushing it even higher.
• Government spending cuts and job losses have eroded consumer and business confidence.
• The Fed is expected to keep interest rates unchanged, but future decisions could become more complicated if unemployment rises.

Global Markets Respond

Despite U.S. market struggles, European and Asian markets showed mixed reactions to the economic outlook.

Europe:

• Germany’s DAX: Up 0.3%
• France’s CAC 40: Up 0.3%
• UK’s FTSE 100: Up 0.1%

Asia:

• China’s Industrial Output: Grew nearly 6% in the first two months of the year.
• Retail Sales in China: Increased 4%, but the property market continues to decline.
• Hong Kong’s Hang Seng: Up 0.8% to 21,144.86
• Shanghai Composite: Up 0.2% to 3,426.13
• Tokyo’s Nikkei 225: Up 0.9% to 37,396.52
• Seoul’s Kospi: Up 1.7% to 2,610.69
• Australia’s S&P/ASX 200: Up 0.8% to 7,854.10
• Taiwan’s Taiex: Up 0.7%
• Bangkok’s SET: Up slightly less than 0.1%

Looking Ahead

As April 2 approaches, all eyes will be on how the market reacts to the next round of tariffs and whether the Federal Reserve adjusts its strategy in response to economic shifts. Investors will also closely monitor consumer sentiment and corporate earnings reports in the coming weeks.

Source: AP News – Stock market today: US futures slip after Trump vows to push ahead with tariff hikes

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Wall Street faced a mixed trading session on Thursday, with U.S. stock indexes drifting lower following a rough stretch of economic concerns.

Market Performance Overview

• S&P 500: Down 0.4%, giving up early modest gains.
• Dow Jones Industrial Average: Up 103 points (0.2%) as of 10 a.m. Eastern Time.
• Nasdaq Composite: Down 1.1%, weighed down by tech stocks.

The stock market has struggled in recent sessions due to weaker-than-expected economic data, which knocked the S&P 500 off its record high from last week.

Nvidia Swings to a Loss Despite Strong Earnings

Nvidia, one of Wall Street’s most influential stocks, had a volatile session. The AI chip giant initially rose at market open after reporting better-than-expected quarterly earnings, but quickly fell 1.2% into negative territory.

The drop comes amid concerns following Chinese AI company DeepSeek’s announcement that it developed a large language model that can compete with top AI systems without relying on Nvidia’s expensive chips. This raised questions about future AI-related spending, which had been a major driver of Nvidia’s stock surge.

Despite this, UBS analysts led by Timothy Arcuri noted that Nvidia’s earnings and forecasts were strong enough to keep investor sentiment positive. However, they weren’t impressive enough to push the stock higher.

Salesforce Falls on Weak Forecasts

Salesforce (CRM) tumbled 4.3%, despite reporting strong quarterly earnings that exceeded analyst expectations. The decline came after the company issued disappointing revenue forecasts, which fell short of Wall Street estimates.

Trump’s Tariff Announcement Weighs on Markets

Adding to the market’s unease, former President Donald Trump confirmed that new tariffs on Canadian and Mexican imports will go into effect on March 4th. He also announced an additional 10% tariff on Chinese products starting the same day.

The prospect of higher tariffs has raised fears of increased costs for U.S. consumers, especially as inflation remains stubbornly high. While some analysts believe Trump may use the tariffs as negotiation leverage, the mere discussion of trade barriers has already made U.S. consumers more cautious about spending—a key factor keeping the economy afloat.

Bond Market Reaction & Economic Data

Treasury yields fluctuated following Trump’s tariff announcement and the release of two key U.S. economic reports:

1. GDP Report: The government maintained its estimate of economic growth for the last quarter of 2024 but raised its inflation estimate, signaling persistent price pressures.
2. Unemployment Data: Jobless claims hit a three-month high, though still far below recession levels.

The 10-year Treasury yield edged up to 4.27%, after hitting 4.30% earlier in the morning.

Global Market Performance

• Germany’s DAX: Fell 1.3% amid economic uncertainty.
• Japan’s Nikkei 225: Rose 0.3%, bucking the trend.

Conclusion

The stock market remains volatile, with tech weakness, tariff concerns, and inflation worries keeping investors on edge. While Nvidia and Salesforce’s earnings reports highlighted ongoing growth, their stock movements suggest that investors are demanding more than just strong numbers—they want certainty about future performance.

As the market continues to digest economic data and geopolitical risks, investors should brace for further swings in sentiment and stock prices.

Source

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Warren Buffett, in his annual letter to shareholders on Saturday, reflected on Berkshire Hathaway’s remarkable journey over the past 60 years. Since taking over a struggling New England textile company in 1965, Buffett has transformed it into a massive conglomerate with holdings spanning insurance, railroads, utilities, and retail. While celebrating Berkshire’s successes, he also acknowledged making mistakes along the way—though he provided few specific examples.

Greg Abel: The Future of Berkshire

Buffett reassured shareholders that his chosen successor, Greg Abel, is fully prepared to take the helm when the time comes. Highlighting Abel’s ability to act decisively on investment opportunities, Buffett wrote:

“We are impartial in our choice of equity vehicles, investing in either variety based upon where we can best deploy your (and my family’s) savings. Often, nothing looks compelling; very infrequently, we find ourselves knee-deep in opportunities. Greg has vividly shown his ability to act at such times.”

Berkshire’s Growing Cash Reserves

With Berkshire now holding a staggering $334.2 billion in cash—nearly double the $167.6 billion it held a year ago—Abel will have plenty of resources to deploy. The increase comes after Berkshire sold much of its Apple and Bank of America stock while continuing to generate significant cash flow from its diverse businesses, including:

• Geico Insurance
• BNSF Railroad
• Utility Companies
• Manufacturers and Retailers, such as Dairy Queen and See’s Candies

Recent Investments: Utilities, Truck Stops, and Japan

While Buffett has struggled to find major acquisitions in recent years, he did make several key moves in 2023:

• $3.9 billion to acquire full ownership of Berkshire’s utility business.
• $2.6 billion to purchase the remaining shares of the Pilot truck stop chain.
• Increased investment in five major Japanese conglomerates, bringing Berkshire’s six-year total investment in Japan to $13.8 billion, now valued at $23.5 billion.

No Plans for a Dividend

Despite its immense cash reserves, Buffett reaffirmed that Berkshire has no plans to offer a dividend. The company continues to prioritize reinvesting profits into new opportunities rather than returning cash to shareholders.

A Shorter Shareholder Meeting & Buffett’s Reflections

For the first time, Buffett announced that the annual shareholder meeting in May will be shorter, running from 8 a.m. to 1 p.m.—several hours less than usual. At 94 years old, Buffett also acknowledged using a cane to prevent falls, saying, “I am now officially in the age of precaution.”

Unlike the company’s 50th anniversary letter, where he and longtime partner Charlie Munger (who passed away in 2023) reflected deeply on Berkshire’s history, Buffett kept this year’s message relatively forward-looking.

From Humble Beginnings to Historic Success

Buffett recalled that when he took over in 1965, Berkshire paid zero corporate income tax, a sign of its struggling financial state. Fast forward to 2023, and Berkshire paid $26.8 billion in corporate taxes—the largest amount ever paid by a U.S. company, surpassing even trillion-dollar tech giants.

Berkshire’s stock tells a similar story of extraordinary growth:

• Buffett began buying Berkshire shares in 1962 for $7.60 each.
• Today, Class A shares trade at $718,750, making them the most expensive publicly traded stock in the world.
• The company also offers Class B shares at a more accessible $478.74.

A Special Anniversary Celebration

To commemorate Berkshire’s 60th anniversary, Buffett promised shareholders the opportunity to purchase a special edition book filled with untold stories and lessons from the company’s journey.

As Buffett celebrates six decades of success, his message to shareholders remains clear: Berkshire Hathaway is stronger than ever, and its future under Greg Abel looks just as promising.

Source

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Asian Markets Struggle Amid Uncertainty

Major indexes in Asia saw declines in early trading:

• Japan’s Nikkei 225 dropped 1.5% to 38,579.71.
• Australia’s S&P/ASX 200 slid 1.4% to 8,297.60.
• South Korea’s Kospi lost nearly 0.5%, closing at 2,659.22.
• Hong Kong’s Hang Seng fell 1.6% to 22,569.12.
• Shanghai Composite edged down 0.2% to 3,345.52, following China’s decision to leave its benchmark interest rate unchanged to maintain financial stability.

“The yuan has been under siege, with foreign-exchange outflows surging last month as Trump’s tariff rhetoric sent shockwaves through markets,” said Stephen Innes, managing partner at SPI Asset Management.

Wall Street Holds Strong Despite Global Concerns

In contrast, U.S. markets continued their upward momentum:

• S&P 500 added 0.2%, reaching another all-time high at 6,144.15.
• Dow Jones Industrial Average climbed 71 points (0.2%) to 44,627.59.
• Nasdaq composite inched up 0.1% to 20,056.25.

Tech Stocks Lead the Rally

• Microsoft (+1.3%) fueled the S&P 500’s rise after announcing its development of the world’s first “quantum processing unit,” which could revolutionize computing.
• Tesla (+1.8%) gained after Nikola (a rival electric truck maker) plunged 39.1% upon filing for Chapter 11 bankruptcy protection.

Economic Data: Housing Market Weakens

A report on U.S. home construction showed that fewer houses were built last month than economists expected.

• High mortgage rates continue to pressure the housing market, despite Federal Reserve rate cuts in September aimed at easing economic conditions.

Bond Market and Tariff Fears

The 10-year Treasury yield eased slightly to 4.53%, down from 4.55% on Tuesday.

• While Trump’s tariff threats initially rattled markets, investors now believe they may be a negotiating tactic rather than a long-term economic risk.

Commodities & Currency Markets

• Oil Prices:
  • U.S. crude fell 32 cents to $71.93 per barrel.
  • Brent crude lost 21 cents, trading at $75.83 per barrel.
• Currency Markets:
  • The U.S. dollar slipped to 150.60 yen (from 151.37 yen).
  • The euro edged up to $1.0432 (from $1.0428).

Market Outlook: Investors Remain Cautious

Despite record highs in U.S. markets, Asian investors remain on edge due to global trade tensions, China’s economic policies, and concerns over inflation. While tech giants like Microsoft and Tesla continue to fuel optimism, regional markets may remain volatile as they react to policy changes and economic data in the coming weeks.

Source

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