Stocks in Wall Street expected to continue their rise
The global stock market saw a mix of gains and losses on Wednesday, as various factors such as tariffs, central bank decisions, and economic data releases influenced investor sentiment.
In the United States, the Nasdaq posted a significant gain, rising 252.87 points or 1.2 percent to 21,169.42. The Dow Jones Industrial Average, on the other hand, recorded a more modest gain, increasing 81.38 points or 0.2 percent to 44,193.12. Meanwhile, the S&P 500 climbed 45.87 points or 0.7 percent to 6,345.06.
Notably, President Donald Trump announced a 100 percent tariff on imports of semiconductors and chips, but companies building in the U.S. will be exempt. This decision has significant implications for tech giants like Apple and Intel, which have been impacted by the tariffs, with Apple planning to invest another $100 billion in the U.S. to reduce its reliance on China.
For Apple, the tariffs have increased costs and supply chain risks, prompting the company to commit substantial investments in U.S. factories and expanding production in India and Vietnam. Apple has also taken costly measures like airlifting iPhones from India to the U.S. to circumvent tariffs.
Intel, on the other hand, stands to benefit from government incentives like the CHIPS Act aimed at boosting domestic semiconductor manufacturing, but faces challenges in adapting quickly to protectionist policies affecting imports.
Elsewhere, the S&P/NZX-50 Index finished marginally higher, while European stocks turned in a mixed performance. U.K. stocks underperformed, with the FTSE 100 falling 0.1 percent. German industrial output decreased 1.9 percent on a monthly basis in June, but exports grew for the first time in three months.
In the currency markets, the British pound fell against the dollar, while the euro was flat. Crude oil futures rose $0.33 to $64.68 a barrel, and gold futures jumped $31.40 to $3,464.80 an ounce.
In the corporate sector, shares of Apple are jumping by 2.8 percent in pre-market trading, while shares of Intel are tumbling by 3.1 percent after Trump called on CEO Lip-Bu Tan to resign. Telecoms group Swisscom advanced 1.5 percent, and technology giant Siemens rose 1.2 percent.
In the U.K., government services firm Serco jumped nearly 8 percent, consumer goods and adhesives maker Henkel climbed 2.2 percent, and consumer credit is expected to increase by $7.5 billion in June.
On the other hand, Hikma slumped nearly 7 percent, and Valneva, a specialty vaccine company, surged 6 percent. Arista Networks surged by 17.5 percent after reporting better than expected second quarter results and boosting its guidance. A.P. Moller-Maersk shares rallied over 3 percent, and U.K. house prices increased by more-than-expected 0.4 percent in July.
In economic news, the Commerce Department is scheduled to release its report on wholesale inventories in the month of June, and the Federal Reserve is scheduled to release its report on consumer credit in the month of June. Labor productivity in the U.S. saw a significant rebound in the second quarter of 2025, and unit labor costs jumped by 1.6 percent in the second quarter.
In the bond market, the yield on the 10-year Treasury note fell to 1.308 percent, while the yield on the 30-year Treasury bond fell to 1.925 percent. The Bank of England reduced its benchmark interest rate for the fifth time in a year, and Deutsche Telekom lost 3 percent, while British advertising giant WPP gave up 3.7 percent.
Looking ahead, U.S. index futures are pointing to a higher open on Thursday, and European stocks are expected to continue their mixed performance. Investors will closely watch central bank decisions and economic data releases in the coming days to gauge the impact on global markets.
Technology companies are grappling with the implications of President Trump's announcement of a 100 percent tariff on imports of semiconductors and chips, with tech giants like Apple and Intel being directly affected. In the corporate sector, shares of Apple are rising in pre-market trading, while shares of Intel are falling after Trump called on CEO Lip-Bu Tan to resign.
