Indian Markets Closed For Holiday; Global Markets Edge Up As Trump Pauses Tech Tariffs

RTTNews | 57 gün önce

(RTTNews) - Indian stock markets remain closed today for Dr. Baba Saheb Ambedkar Jayanti.

Trading activity of foreign investors, any new developments on the U.S.-China tariff war front along with the latest quarterly earnings announcements may sway sentiment as the week progresses.

On the earnings front, IT majors Wipro and Infosys along with private banking majors HDFC Bank and ICICI Bank are set to publish their financial results this week.

In economic releases, WPI and CPI data are set to be released this week. Domestic markets will remain closed again on Friday due to Good Friday.

Asian markets were broadly higher this morning. Technology stocks were in focus after the Trump administration announced a pause in tariffs for phones, computers and consumer electronics, though officials insisted it was only a pause before new tech tariffs are implemented.

That said, analysts say that the conflicting statements from U.S. officials and policy-on-the run makes it impossible to trade short term.

The dollar slipped against most major currencies while oil steadied above a four-year low.

Gold ticked higher as Goldman Sachs hiked its outlook for gold prices to $3,700 an ounce, citing heightened concerns over the U.S. economy.

U.S. stocks rose sharply on Friday after White House press secretary Karoline Leavitt said President Donald Trump is "optimistic" about reaching a trade deal with China.

However, two senior White House officials told CNN that the U.S. will not reach out to China first and that Chinese President Xi Jinping must request a call with Trump.

Meanwhile, Boston Federal Reserve President Susan assured markets that the Fed is prepared to keep financial markets functioning should the need arise.

On the earnings front, JPMorgan Chase, Morgan Stanley and Wells Fargo all reported better-than-expected profits but warned of a potential economic slowdown due to trade disputes.

In economic news, data showed U.S. consumer sentiment plummeted in April, accompanied by a surge in 12-month inflation expectations to levels unseen since 1981.

The tech-heavy Nasdaq Composite rallied 2.1 percent, the S&P 500 surged 1.8 percent and the Dow added 1.6 percent.

European stocks fell broadly on Friday after logging their biggest one-day gains since 2022 the previous day as Trump delayed new tariffs by 90 days and the EU suspended planned countermeasures.

The pan-European STOXX 600 Index finished marginally lower. The German DAX shed 0.9 percent and France's CAC 40 slipped 0.3 percent while the U.K.'s FTSE 100 rose 0.6 percent after strong GDP data.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 13 dakika önce

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 19 dakika önce

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 1s 0 dakika önce

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 2s 25 dakika önce

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 2s 41 dakika önce

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 3s 48 dakika önce

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 4s 24 dakika önce

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 7s 18 dakika önce

EURUSD	1.14226	GBPUSD	1.34988	AUDUSD	0.65198
USDJPY	144.886	USDCAD	1.36773	USDCHF	0.82279

Advertisement

Indian Markets Closed For Holiday; Global Markets Edge Up As Trump Pauses Tech Tariffs