\u200b\u200b\u200bUS markets gain on Apple strength & rate cut hopes<\/p>\n
\u200bWall Street closed higher with the\u00a0US Tech 100 (Nasdaq 100)<\/a> up 1.2% as investors<\/a> positioned for potential Federal Reserve (Fed)<\/a> easing. Apple<\/a>\u00a0led gains, rising 5.1% after announcing a $100 billion domestic manufacturing pledge aimed at navigating tariff pressures.<\/p>\n \u200bAbout 80% of\u00a0US 500 (S&P 500)<\/a> companies reporting second-quarter (Q2) results have beaten forecasts:<\/p>\n \u200bFed fund futures<\/a> now imply a 95% chance of a September interest rate<\/a> cut following weak payroll and services data. Minneapolis Fed President Kashkari suggested the central bank may need to ease policy soon to support economic momentum.<\/p>\n \u200bPresident Trump imposed a 25% tariff on Indian goods over Russian oil imports while hinting at more semiconductor duties. Markets<\/a> focused on corporate exemptions rather than penalties, with several major firms pledging United States (US) manufacturing investments.<\/p>\n \u200bFTSE 100 opens lower as sterling gains<\/p>\n \u200bThe\u00a0FTSE 100<\/a> opened 0.3% lower as the pound sterling<\/a> extended gains for a fifth consecutive day, trading just below $1.34 ahead of today’s expected Bank of England (BoE) rate cut. The pound’s strength weighed on the US dollar<\/a>-earning companies including\u00a0AstraZeneca<\/a> and Shell<\/a>.<\/p>\n \u200bIntercontinental Hotels (ICH)<\/a> jumped 9.2% after the company reported revenue growth and maintained guidance. Jefferies analysts noted the ‘incrementally positive’ outlook amid an easing macroeconomic picture Upcoming earnings<\/p>\n \u200bCompanies reporting earnings included Deliveroo<\/a>, which sees results at the upper end of guidance, and Serco, which announced a \u00a350 million share buyback<\/a> after strong performance driven by its North American business and defence sector.<\/p>\n \u200bBoE decision follows positive housing data<\/p>\n \u200bEconomists unanimously expect the BoE to deliver a fifth rate cut at today’s meeting. Halifax house price data showed a 0.4% monthly increase in July, the largest gain this year, with annual growth accelerating to 2.4%.<\/p>\n \u200bThe housing market has benefited from lower mortgage rates and improving wage growth, though regional variations persist. London saw the slowest growth at 0.2% while Northern Ireland led with 9.3% annual increases.<\/p>\n \u200bEarnings season highlights sector divergence<\/p>\n \u200bCorporate results continue to show divergent fortunes across sectors. Generic drugmaker\u00a0Hikma<\/a> reported higher sales but lower profit, citing product mix changes and\u00a0euro<\/a> strength against the dollar.<\/p>\n \u200bHotel operator IHG reported revenue growth with strength in Europe offsetting weakness in Greater China. The company opened a record number of new rooms and raised its dividend by 10%.<\/p>\n \u200bWPP’s struggles contrast with better performance elsewhere in the services sector. The advertising group has cut its 2025 outlook and appointed a new CEO as clients reduce spending amid economic uncertainty.<\/p>\n \u200bBoE decision awaited<\/p>\n \u200bToday’s BoE decision will provide guidance on the pace of United Kingdom (UK) rate cuts, with markets expecting continued easing given housing market support and inflation<\/a> trends<\/a>. Fed officials will likely reinforce dovish<\/a> messaging ahead of September’s anticipated cut.<\/p>\n \u200bTariff developments remain fluid, with markets increasingly focused on corporate responses and exemptions rather than headline announcements. Manufacturing pledges from major US companies suggest negotiated outcomes rather than blanket trade restrictions.<\/p>\n","protected":false},"excerpt":{"rendered":"\u200b\u200b\u200bUS markets gain on Apple strength & rate cut hopes \u200bWall Street closed higher with the\u00a0US Tech 100…\n","protected":false},"author":2,"featured_media":50033,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[84,467,56,54,55],"class_list":{"0":"post-52116","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-business","9":"tag-markets","10":"tag-uk","11":"tag-united-kingdom","12":"tag-unitedkingdom"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/52116","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=52116"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/52116\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/50033"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=52116"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=52116"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=52116"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nWPP<\/a>\u00a0shares<\/a> hit their lowest level since 2009 despite results broadly in line with expectations. The advertising company has fallen 54% year-to-date, making it the worst-performing FTSE 100 stock<\/a>.<\/p>\n