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News Topical, Digital Desk : Weak US data and Trump's tariff statements have spoiled the market mood. Asian markets are also trading cautiously. India's Nifty is stable, but sensitivity will remain before US tariff and RBI policy. Decline on Wall Street, mixed trade in Asian markets - After the rise in US markets on Monday, weakness returned again on Tuesday. Its reflection is less on Asian markets. Australia's stock market has touched a new high, breaking all records.
Australia's market is at a record high - ASX 200 index reached a high of 8,824. Banking stocks like Commonwealth Bank and Westpac rose up to 1%. Metal stock BHP Group also saw a slight rise.
Today's calendar
McDonald's, Disney, Novo Nordisk, Uber, Shopify, DoorDash will present their results today. Fed officials Lisa Cook and Susan Collins are going to speak in a panel - their words can be an indication for the market. Apart from the stock market, the market mood is US Dollar Index: remains below 99. Gold Price: above $3,400. Brent Crude: falls below $68.
| Index | latest level | shift |
|---|---|---|
| ASX 200 ( Australia) | 8,812.60 | +0.48% (record high) |
| Hang Seng ( Hong Kong) | 24,899.80 | -0.01% |
| KOSPI ( South Korea) | 3,188.08 | -0.31% |
| Nikkei 225 ( Japan) | 40,654.73 | +0.26% |
| NIFTY 50 ( India) | 24,649.55 | |
| Shanghai Composite | 3,619.63 | +0.06% |
New blast in Trump's tariff war- While talking to CNBC, Donald Trump said:- New tariffs will be implemented on semiconductors and pharma next week. Up to 250% tariff can be imposed on pharma in 12-18 months. "We want chips and medicines to be made in America." Its effect was seen on semiconductor and pharma shares on Tuesday - many stocks fell.
Who will be the next US Fed Chair? Trump has four names.
Trump said that Scott Bessent is no longer in the race. Kevin Warsh (Former Fed Governor) and Kevin Hassett (NEC Director) are included in the list. Adriana Kugler has resigned, new appointment can be done by next week.
Effect of tariff on companies- Mosaic Co. (fertilizer maker) said US tariffs are affecting shipments. AMD gave strong guidance, but shares fell on concerns about China. Rivian fell 5%, citing its dependence on government tax credits. Super Micro fell a massive 16% — on weak results and outlook.
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