Wall Street stock indices ended at fresh records Friday as US investors bet on additional trade deals following this week’s breakthrough with Japan.<\/p>\n
US President Donald Trump cautioned that striking a deal with the European Union to reduce import tariffs will be a challenge. Trump has set an August 1 deadline for an accord.<\/p>\n
“I would say that we have a 50\/50 chance, maybe less than that, but a 50\/50 chance of making a deal with the EU,” Trump told reporters at the White House Friday.<\/p>\n
But US investors have adopted an optimistic stance about further accords given Trump’s record of suspending or delaying the most onerous tariffs. The S&P 500 finished at a fifth straight record and the tech-rich Nasdaq at a third straight record, capping an upbeat week.\u00a0<\/p>\n
Equity markets elsewhere were more subdued.<\/p>\n
London, after a strong run on positive corporate news, finished slightly lower as did Frankfurt, while Paris closed just ahead after Asia lost ground.<\/p>\n
“There is no unifying theme across financial markets this month — instead markets are moving to the beat of their own drums,” concluded Kathleen Brooks, research director at XTB.<\/p>\n
Sentiment had been lifted earlier in the week by the announcement of a Japan-US deal, as well as signals that the EU could be closing in on its own accord with Washington.<\/p>\n
The “momentum has not been kept up, and European stocks are weaker at the end of the week,” noted Brooks.<\/p>\n
The EU is still forging ahead with contingency plans in case talks fail, with member states approving a 93 billion-euro ($109 billion) package of retaliatory counter-tariffs.<\/p>\n
With few positive catalysts to drive buying, Asian markets turned lower heading into the weekend.<\/p>\n
Tokyo retreated after a two-day rally and Hong Kong declined following five days of gains. Shanghai was also down.\u00a0<\/p>\n
The dollar gained against major currencies, a reversal of the trend throughout much of 2025. The dollar fell the most in the first six months of 2025 since 1973.<\/p>\n
Trump said Friday that a weaker dollar can boost exports and tourism.\u00a0<\/p>\n
“It doesn’t sound good, but you make a hell of a lot more money with a weaker dollar, not a weak dollar, but a weaker dollar, than you do with a strong dollar,” he told reporters at the White House.<\/p>\n
In corporate news, German auto giant Volkswagen said US tariffs had cost it 1.3 billion euros ($1.5 billion) in the first half of the year as it reported falling profits.<\/p>\n
After an initial drop, shares in the carmaker rose four percent in Frankfurt.\u00a0<\/p>\n
German sportswear maker Puma saw its shares tumble around 16 percent after slashing its sales forecast and warning of a full year loss.<\/p>\n
Intel dropped 8.5 percent after reporting a $2.9 billion loss as it announced further cost-cutting initiatives. The company said it has cut about 15 percent of its workforce.<\/p>\n
– Key figures at around 2030 GMT –<\/p>\n
New York – Dow: UP 0.5\u00a0percent at 44,901.92 (close)<\/p>\n
New York – S&P 500: UP 0.4\u00a0percent at 6,388.64 (close)<\/p>\n
New York – Nasdaq Composite: UP 0.2 percent at 21,108.32 (close)<\/p>\n
London – FTSE 100: DOWN 0.2 percent at 9,120.31 (close)<\/p>\n
Paris – CAC 40: UP 0.2 percent at 7,834.58\u00a0(close)<\/p>\n
Frankfurt – DAX: DOWN 0.3 percent at 24,217.50 (close)<\/p>\n
Tokyo – Nikkei 225: DOWN 0.9 percent at 41,456.23 (close)<\/p>\n
Hong Kong – Hang Seng Index: DOWN 1.1 percent at 25,388.35 (close)<\/p>\n
Shanghai – Composite: DOWN 0.3 percent at 3,593.66 (close)<\/p>\n
Dollar\/yen: UP at 147.68 yen from 147.01 yen on Thursday<\/p>\n
Euro\/dollar: DOWN at $1.1738 from $1.1749<\/p>\n
Pound\/dollar: DOWN at $1.3431 from $1.3510<\/p>\n
Euro\/pound: UP at 87.40 pence from 86.97 pence<\/p>\n
West Texas Intermediate: DOWN 1.3 percent at $65.16 per barrel<\/p>\n
Brent North Sea Crude: DOWN 1.1 percent at $68.44 per barrel<\/p>\n
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