Global Markets Fluctuate Amidst Moderating Tariffs Rhetoric
Forex:
- The U.S. dollar tumbled to a one-month low, poised for its steepest weekly decline in 14 months.
Stocks:
- S&P 500 futures fluctuated after the index recently reached record highs.
- Asian and European stocks rallied, supported by reduced concerns over tariffs.
Commodities:
- Gold surged near record highs, hovering around $2,781 per ounce.
- Brent crude rose as market sentiment improved.
Key Factors:
- President Trump's softening stance on tariffs against China bolstered market confidence.
- The Bank of Japan raised interest rates, leaving future policy options open.
Corporate Highlights:
- Boeing shares declined due to reported losses and charges.
- Texas Instruments slid on disappointing earnings forecasts.
- Burberry Group jumped following strong sales results.
- Novo Nordisk rose on promising weight loss results from an experimental drug.
- Twilio surged after forecasting above-average revenue growth.
Market Outlook:
- Equity markets have benefited from expectations of U.S. corporate profit increases due to Trump's policies.
- European stocks may have limited upside potential after a recent rally.
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