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Global shares mostly higher after US stocks hit another record as Tesla, Nike rally
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....lobal shares mostly higher after US stocks hit another record as Tesla, Nike rally<BR>PTI News<BR>Dated:- 3-7-2025<BR>PTI<BR>Manila(Philippines) Jul 3 (AP) Global shares mostly gained on Thursday after US stocks hit another all-time high. In early European trading, Germany's DAX added 0.2 per cent to 23,829.71. In Paris, the CAC 40 edged up 0.1 per cent to 7,740.05. Britain's FTSE 100 gained 0.5 ....
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....per cent to 8,817.75. The futures for S&P and Dow Jones both edged up 0.1 per cent, while oil prices fell. Tokyo's Nikkei 225, which fluctuated between gains and losses during the day, added 0.1 per cent to 39,785.90. In South Korea, the Kospi rose 1.3 per cent to 3,116.27, while Australia's S&P/ASX 200 slipped 0.1 per cent to 8,589.80. Hong Kong's Hang Seng index lost 0.6 per cent to 24,069.94....
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..... The Shanghai Composite index added 0.2 per cent to 3,460.15. Taiwan's TAIEX gained 1.3 per cent while India's Sensex rose 0.2 per cent. Vietnam's VN Index shed earlier gains, slipping 0.2 per cent. Mizuho Bank, Ltd., in a commentary, said there is lopsided optimism about Vietnam's deal with the US, with Vietnamese imports subject to 20 per cent tariffs in return for 0 per cent tariffs on US go....
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....ods. “A higher 40 per cent tariff on goods deemed to be transshipped via Vietnam could accentuate risks to and from China,” it said, adding that “other Asian economies will be particularly vulnerable to a two-sided geoeconomic squeeze given that their reliance on both China and US are significant.” President Donald Trump said on Wednesday that he reached a deal with Vietnam, where US prod....
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....ucts sold in the country will face zero tariffs and Vietnamese-made goods will face a US tariff of 20 per cent. That helped companies that import from Vietnam, including Nike, whose stock rose 4.1 per cent. Factories in Vietnam made half of all Nike brand footwear in its fiscal year of 2024. The S&P 500 rose 0.5 per cent and set a record for the third time in four days. The Dow Jones Industrial Av....
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....erage edged down by 10 points, or less than 0.1 per cent, and the Nasdaq composite gained 0.9 per cent. Tesla helped drive the market higher and rose 5 per cent after saying it delivered nearly 374,000 of its Model 3 and Model Y automobiles last quarter. That was better than analysts expected, though the electric-vehicle maker's overall sales fell 13 per cent from a year earlier. Worries have be....
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....en high that CEO Elon Musk's involvement in politics is turning off potential Tesla buyers. Constellation Brands climbed 4.5 per cent despite reporting a weaker profit for the latest quarter than analysts expected. But the company selling Modelo beer and Robert Mondavi wine nevertheless stuck with its financial forecasts for the full upcoming year. They helped offset a 40.4 per cent drop for Cen....
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....tene. The health care company withdrew its forecasts for profit this year after seeing data that suggests worse-than-expected sickness trends in many of the states where it does business. It was the worst day for the stock since its debut in 2001. All told, the S&P 500 rose 29.41 points to 6,227.42. The Dow Jones Industrial Average slipped 10.52 to 44,484.42, and the Nasdaq composite climbed 190.....
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....24 to 20,393.13. In the bond market, Treasury yields were mixed ahead of a highly anticipated report on Thursday, which will show how many jobs US employers created and destroyed last month. The widespread expectation is that they hired more people than they fired but that the pace of hiring slowed from May. A stunningly weak report released Wednesday morning raised worries that Thursday's repor....
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....t may fall short. The data from ADP suggested that US employers outside the government cut 33,000 jobs from their payrolls last month, when economists were expecting to see growth of 115,000 jobs. The ADP report does not have a perfect track record predicting what the US government's more comprehensive jobs report will say each month. That preserves hope that Thursday's data could be more encoura....
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....ging, though there are fears that uncertainty around President Donald Trump's tariffs could cause employers to freeze their hiring. Many of Trump's stiff proposed taxes on imports are currently on pause, and they're scheduled to kick into effect in about a week. Unless Trump reaches deals with other countries to lower the tariffs, they could hurt the economy and worsen inflation. Elsewhere on Th....
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....ursday, the benchmark US crude lost 62 cents to USD 66.83. Brent crude, the international standard, shed 63 cents to USD 68.53. The dollar was trading at 143.87 Japanese yen, up from 143.65 yen. The euro was barely changed at USD 1,1791 from USD1.1790. (AP) RD RD<BR> News - Press release - PIB....