Wall Street indexes gained on Wednesday on largely upbeat corporate earnings, and U.S. yields also rose, while European shares closed flat and broke a two-day winning streak.<\/p>\n
U.S. President Donald Trump issued an executive order imposing an additional 25% tariff<\/a> on goods from India, saying the country has imported Russian oil.<\/p>\n Oil prices seesawed and finished down, as Trump\u2019s remarks about progress in talks with Moscow created uncertainty on whether the U.S. would impose new sanctions on Russia.<\/p>\n MSCI\u2019s gauge of stocks across the globe rose 0.65% to 933.23.<\/p>\n On Wall Street, the Nasdaq Composite led gains, rising 1.21% to 21,169.42 as Apple shares climbed after news of its plans to announce a domestic manufacturing pledge.<\/p>\n The Dow Jones Industrial Average rose 0.18% to 44,193.12 and the S&P 500 rose 0.73% to 6,345.06.<\/p>\n \u201cEarnings are seeing a mixed reaction. Particularly for a few of the AI names, expectations were just extremely high, but by and large, the earnings in aggregate have been good enough to keep a floor under the market,\u201d said Ross Mayfield, investment strategy analyst at Baird.<\/p>\n Europe\u2019s broad STOXX 600 index closed 0.06% lower, dragged down by healthcare stocks after Trump announced a tariff plan for the pharmaceutical sector.<\/p>\n MSCI\u2019s broadest index of Asia-Pacific shares outside Japan closed lower by 0.08% to 654.33, while Japan\u2019s Nikkei rose 0.60% to 40,794.86.<\/p>\n The health of the U.S. economy is a major focus for markets, and Wall Street closed lower on Tuesday after data showed services sector activity unexpectedly flatlined<\/a> in July.<\/p>\n That reinforced the message from Friday\u2019s soft jobs data<\/a>, which caused markets to significantly increase bets on the Federal Reserve cutting rates in September.<\/p>\n \u201cThere\u2019s this tug-of-war going on between the more concrete signs that we have seen that the U.S. economy is slowing and the fact that rate cuts are coming, which removes some of the pressure on valuations,\u201d said Samy Chaar, chief economist at Lombard Odier.<\/p>\n Traders have been focused on tariff impacts.<\/p>\n \u201cThe market is more focused on the fact that we\u2019re not getting maximalist tariffs, but I wonder if it isn\u2019t focusing enough on the fact that we are still getting something moderate, and more could be coming, pharmaceuticals for example,\u201d Chaar said.<\/p>\n Trump on Tuesday said he would announce tariffs<\/a> on semiconductors and chips in the next week or so, while the U.S. would initially impose a \u201csmall tariff\u201d on pharmaceutical imports before increasing it substantially in a year or two.<\/p>\n He said the U.S. was close to a trade deal with China<\/a>, and he would meet his Chinese counterpart Xi Jinping before the end of the year if an agreement was struck.<\/p>\n Brazil\u2019s government has filed<\/a> a consultation request at the World Trade Organization over U.S. tariffs.<\/p>\n