This content was published on <\/p>\n
July 24, 2025 – 02:25\n<\/p>\n
(Bloomberg) \u2014 Asian equities climbed for a sixth consecutive day as signs the US will do more trade deals after striking a pact with Japan injected fresh vigor into stocks.<\/p>\n
The MSCI regional stocks gauge rose 0.7%, the longest winning streak since January, as Japanese indexes jumped more than 1.3% at the open. The S&P 500 ended 0.8% higher to set a third consecutive daily closing record. Treasuries edged lower as demand for haven assets waned in Wednesday\u2019s trading.<\/p>\n
Alphabet Inc. shares climbed in after-hours trading on better-than-expected revenue while Tesla Inc. slumped 4.4% as Elon Musk warned of a \u2018few rough quarters\u2019 ahead after sales fell the most in a decade. SK Hynix shares rose 3.3% after operating profit beat estimates.<\/p>\n
The gains in the stock market followed reports the US was closing in on an agreement with the European Union that would set a 15% tariff for most products after the accord with Japan. Progress on trade deals offered validation for investors betting Washington would adopt a pragmatic approach to trade policy before tariffs would meaningfully impact corporate profits. \u00a0<\/p>\n
\u201cMomentum is building with trade deals a week ahead of the Aug. 1 deadline,\u201d said Mark Hackett at Nationwide. \u201cThe adage \u2018don\u2019t short a dull tape\u2019 seems apropos, given the steady move higher for equities with low volatility.\u201d<\/p>\n
President Donald Trump suggested that he wouldn\u2019t go below 15% as he sets so-called \u201creciprocal\u201d tariff rates ahead of an Aug. 1 deadline.\u00a0<\/p>\n
Trump\u2019s top trade negotiators hailed their approach toward addressing grievances with Japan as a possible incentive for the EU.<\/p>\n
Commerce Secretary Howard Lutnick said Japan\u2019s pledge of billions in US investments \u201ccould be\u201d a model for the EU. Treasury Secretary Scott Bessent stopped short of saying the bloc can win the same sort of deal. Later Thursday, the European Central Bank is scheduled to hand down a rate decision.<\/p>\n
\u201cWith the Aug. 1 deadline looming, investors have been encouraged by the recent trade-deal announcements,\u201d said Ian Lyngen and Vail Hartman at BMO Capital Markets. \u201cThe progress on the trade war will provide clarity and help the market move forward to incorporate the new global trade environment.\u201d<\/p>\n
Meanwhile, bond traders are boosting bets that the Federal Reserve will slash rates more aggressively next year, pricing about 75 basis points of cuts. That compares to 25 basis points projected in April.<\/p>\n
Trump said the Fed board \u201cshould act\u201d on lowering rates, \u201cbut they don\u2019t have the courage to do so.\u201d Meantime, Treasury Secretary Bessent said that there\u2019s \u201cno rush\u201d to identify a successor to Fed Chair Jerome Powell.<\/p>\n
In other corporate news, Trump said he considered attempting to break up Nvidia Corp. to increase competition in artificial intelligence chips before finding out \u201cit\u2019s not easy in that business.\u201d Nvidia shares rose almost 1% in after-hours trading.<\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
S&P 500 futures were little changed as of 9:22 a.m. Tokyo timeHang Seng futures fell 0.1%Japan\u2019s Topix rose 1.3%Australia\u2019s S&P\/ASX 200 was little changedEuro Stoxx 50 futures rose 1.1%<\/p>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index was little changedThe euro was unchanged at $1.1771The Japanese yen was little changed at 146.40 per dollarThe offshore yuan was little changed at 7.1520 per dollar<\/p>\n
Cryptocurrencies<\/p>\n
Bitcoin rose 0.9% to $118,982.01Ether rose 2% to $3,641.25<\/p>\n
Bonds<\/p>\n
The yield on 10-year Treasuries was little changed at 4.38%Japan\u2019s 10-year yield advanced nine basis points to 1.590%Australia\u2019s 10-year yield advanced four basis points to 4.33%<\/p>\n
Commodities<\/p>\n
West Texas Intermediate crude rose 0.3% to $65.47 a barrelSpot gold was little changed<\/p>\n
This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u2013With assistance from Richard Henderson.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on July 24, 2025 – 02:25 (Bloomberg) \u2014 Asian equities climbed for a sixth…\n","protected":false},"author":2,"featured_media":15288,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[456,84,10180,1868,467,3356,10181,56,54,55],"class_list":{"0":"post-19153","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bonds","9":"tag-business","10":"tag-business-general","11":"tag-currency-values","12":"tag-markets","13":"tag-stocks","14":"tag-ticker","15":"tag-uk","16":"tag-united-kingdom","17":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/19153","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=19153"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/19153\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/15288"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=19153"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=19153"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=19153"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}