Global Markets React as US-Japan Tariff Dispute Resolved, Tech Stocks Surge
Global Markets React as US-Japan Tariff Dispute Resolved, Tech Stocks Surge
Global stock markets are experiencing mixed movements today, with Wall Street edging higher, poised for its third weekly gain in four. The S&P 500 is up 0.3% in early trading, while the Dow Jones Industrial Average added 143 points, a 0.3% increase. The Nasdaq reached a new all-time high, climbing 0.4%.
Driving some of the gains, Expedia and Gilead Sciences saw sharp rises after reporting strong earnings that surpassed analyst expectations and raising their outlooks. Meanwhile, Asian markets were largely lower, with the notable exception of Tokyo’s Nikkei 225, which jumped 1.9%.
This surge in Tokyo followed news that Japanese officials resolved a dispute over new U.S. tariffs on Japanese goods. Initially, the tariffs implemented yesterday did not align with a previously agreed 15% level, but Japan’s chief trade envoy confirmed the U.S. has agreed to correct the issue. This resolution particularly benefited Japanese automakers, with Toyota Motor Corp. rising 3.5% and Honda Motor Co. up 4%, as they have significant stakes in U.S. exports.
In contrast, European markets showed mixed performance, with Germany’s DAX down 0.3%, while Paris’s CAC 40 added 0.3%. Britain’s FTSE 100 saw a marginal decline.
On the U.S. tech front, shares in Apple soared 3.2% after CEO Tim Cook announced an additional $100 billion investment in U.S. manufacturing over the next four years. Computer chip makers with substantial U.S. investments also surged, following a presidential order for 100% tariffs on imported semiconductors, with an exemption for companies heavily invested in the U.S. Advanced Micro Devices jumped 5.7% and Nvidia gained 0.8%.
Treasury yields are higher, and in commodity markets, U.S. benchmark crude oil gained 16 cents to $64.04 per barrel, with Brent crude up 19 cents at $66.61. The U.S. dollar strengthened against the Japanese yen, rising to 147.66 yen.
Disclaimer: This content is aggregated from public sources online. Please verify information independently. If you believe your rights have been infringed, contact us for removal.