Sensex, Nifty Set To Follow Global Peers Higher As Trade Concerns Ease

RTTNews | il y a 104

(RTTNews) - Indian shares may follow global peers higher on Friday after U.S. President Donald Trump announced a new reciprocal tariff plan, aiming to match levies imposed by other nations, but delayed any immediate action, raising the prospect for negotiations.

Defense stocks could be in focus today after Trump said the United States will be increasing its military sales to India by billions of dollars and his administration is paving the way to provide India with F35 Stealth fighters.

Benchmark indexes Sensex and Nifty erased early gains to end marginally lower on Thursday, extending losses for a seventh day running. The rupee settled 3 paise higher at 86.92 against the dollar.

Union Finance Minister Nirmala Sitharaman on Thursday allayed concerns around the recent depreciation of rupee and said the government and the Reserve Bank of India are working to stabilize it and would continue to keep vigil on the fluctuation in the currency.

Asian markets were mixed this morning while Treasures and the dollar index were little changed. Gold was set for a seventh weekly gain amid concerns of a global trade war. Oil steadied after a modest decline on Thursday.

U.S. stocks rose sharply overnight to close near record highs while Treasury yields tumbled as data showed producer prices increased solidly in January, but components of the Federal Reserve's preferred inflation reading were relatively tame, adding to hopes the PCE reading may be cooler than currently expected.

Sentiment was also buoyed by hopes of a resolution to the Ukraine war and President Trump's decision to delay the implementation of his much-hyped additional tariffs on foreign goods.

The tech-heavy Nasdaq Composite surged 1.5 percent, the S&P 500 rallied 1 percent and the Dow added 0.8 percent.

European stocks hit a record high on Thursday amid a flurry of earnings and rising hopes of an end to the Russia-Ukraine conflict.

The pan European STOXX 600 gained 1.1 percent. The German DAX climbed 2.1 percent and France's CAC 40 advanced 1.5 percent while the U.K.'s FTSE 100 dipped half a percent.

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.

RTTNews | il y a 3h 34min

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.

RTTNews | il y a 3h 37min

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".

RTTNews | il y a 4h 11min

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c

RTTNews | il y a 4h 39min

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.

RTTNews | il y a 4h 54min