Stocks cautious before US inflation report

Global equity markets were mixed Monday as investors await key US inflation data this week that could offer guidance on interest rate cuts long sought by President Donald Trump.Reports that semiconductor giants Nvidia and AMD would give Washington a 15-percent cut of the revenue from certain chip sales to China also bolstered expectations of a further pause on higher US tariffs against Beijing.On Monday afternoon, US media reported that Trump had signed an order to delay the reimposition of steeper tariffs on Chinese products by another 90 days, citing Trump administration officials.The White House did not respond to queries on the matter.For now, it appears that investors are awaiting new US consumer price index figures. Adam Sarhan of 50 Park Investments warned that a cooler than expected reading could still be “a double-edged sword.”While a lower inflation reading would give the Fed room to cut rates, on the other hand, “it’s not bullish because that means the economy’s slowing,” he added.Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and ease tough Western sanctions against Moscow.London’s FTSE 100 index edged higher but Paris and Frankfurt closed lower, pulled down in particular by defense stocks as investors calculated the chances of an end to the Ukraine war.Major Wall Street indices closed lower.”Markets are bracing for a surprisingly busy week, with several key events and data releases likely to shape sentiment,” notably US inflation, said Jim Reid, managing director at Deutsche Bank.  Investors have ramped up their bets the Fed will lower borrowing costs at its next policy meeting in September following a series of reports — particularly on jobs — indicating weakening in the world’s biggest economy.Stocks in Hong Kong and Shanghai rose on Monday, while Tokyo was closed for a public holiday.Gold futures retreated after hitting a record high Friday, when a letter released by US customs authorities signaled the precious metal should also be subject to new US duties.But Trump said Monday that gold would not face additional tariffs.In company news, Nvidia and AMD shared both closed lower.Elsewhere, shares in Danish renewable energy firm Orsted plunged 30 percent in Copenhagen as the company said it would raise $9.4 billion by selling new shares.The company added that it dropped plans to sell a stake in its Sunrise Wind project over Trump’s decision to freeze federal permitting and loans for all offshore and onshore wind projects.- Key figures at around 2030 GMT -New York – Dow: DOWN 0.5 percent at 43,975.09 points (close)New York – S&P 500: DOWN 0.3 percent at 6,373.45 (close)New York – Nasdaq: DOWN 0.3 percent at 21,385.40 (close)London – FTSE 100: UP 0.4 percent at 9,129.71 (close)Paris – CAC 40: DOWN 0.6 percent at 7,698.52 (close)Frankfurt – DAX: DOWN 0.3 percent at 24,081.34 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 24,906.81 (close)Shanghai – Composite: UP 0.3 percent at 3,647.55 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.1617 from $1.1643Pound/dollar: DOWN at $1.3435 from $1.3451 on FridayDollar/yen: UP at 148.12 yen from 147.79 yenEuro/pound: DOWN at 86.47 pence from 86.54 penceBrent North Sea Crude: UP 0.1 percent at $66.63 per barrelWest Texas Intermediate: UP 0.1 percent at $63.96 per barrelburs-ajb-bys/sla

Wall Street termine en baisse, prises de bénéfices avant l’inflation américaine

La Bourse de New York a clôturé en baisse lundi, les investisseurs se montrant prudents à la veille de la publication d’un nouvel indice d’inflation aux Etats-Unis, sur fond de négociations commerciales sino-américaines.”Nous assistons à quelques prises de bénéfices après une forte hausse et avant la publication d’indicateurs économiques importants”, constate auprès de l’AFP Adam Sarhan, de 50 Park Investments. L’indice des prix à la consommation (CPI) aux Etats-Unis, qui mesure l’inflation côté consommateurs, est attendu mardi. Il sera suivi par l’inflation côté producteurs (PPI), jeudi. Ces données “pourraient avoir une influence sur les anticipations de baisse des taux de la part de la Fed”, la banque centrale américaine, écrit dans une note Jose Torres, d’Interactive Brokers.Une très large majorité des analystes estiment que la Fed réduira ses taux d’un quart de point de pourcentage à l’issue de sa prochaine réunion de politique monétaire, programmée en septembre.Les experts s’inquiètent notamment d’une morosité sur le marché du travail, après une forte révision à la baisse des créations d’emplois au printemps.”Nous ne savons pas encore si ce rapport sur l’emploi était un cas isolé ou s’il s’agissait d’une tendance plus durable”, commente M. Sarhan. Les taux directeurs de la Réserve fédérale — qui guident le coût du crédit et ont un fort impact sur les marchés — demeurent inchangés depuis décembre, entre 4,25% et 4,50%.Sur le front des droits de douane, le président américain Donald Trump a décidé de prolonger de 90 jours la détente avec Pékin, rapportent lundi des médias américains, à quelques heures de la fin théorique de cette trêve entre les deux puissances.La Maison Blanche n’a pas donné suite dans l’immédiat aux sollicitations de l’AFP.Engagés au printemps dans un affrontement à coups de droits de douane exorbitants, avec des taux à trois chiffres, Pékin et Washington avaient fini par conclure une trêve de 90 jours en mai à Genève (Suisse).”Il est pratiquement impossible pour les États-Unis de remplacer la Chine en tant que centre mondial de fabrication”, remarque M. Sarhan.A la cote, les géants américains des microprocesseurs Nvidia et Advanced Micro Devices ont perdu respectivement 0,30% à 182,15 dollars et 0,28% à 172,28 dollars.Les deux entreprises ont accepté de verser au gouvernement américain 15% de leurs revenus provenant de la vente en Chine de puces destinées à l’intelligence artificielle (IA), une décision très inhabituelle, rapportée par plusieurs médias et confirmée par Donald Trump dans le cas de Nvidia.L’entreprise américaine de semi-conducteurs et processeurs Intel a progressé (+3,66% à 20,68 dollars) alors que le nouveau patron du groupe, Lip-Bu Tan, rencontre Donald Trump à la Maison Blanche lundi.Le président américain a appelé la semaine dernière à la démission “immédiate” de M. Tan, après qu’un sénateur républicain a soulevé des inquiétudes sur d’éventuels liens avec des entreprises chinoises, un danger, selon lui, pour la sécurité nationale.Les investisseurs attendent désormais les résultats de certains grands distributeurs, à l’instar du géant Walmart (+0,19% à 103,93 dollars) la semaine prochaine.

Chinese man pleads guilty in US to smuggling protected turtles

A Chinese man faces up to five years in prison for trying to smuggle protected turtles worth more than $1 million from the United States to Hong Kong.Wei Qiang Lin, of Brooklyn, pleaded guilty on Monday in a federal district court in New York to exporting more than 220 parcels containing around 850 eastern box turtles and three-toed box turtles.The Justice Department said the live turtles had been wrapped in socks for the weeks-long journey and the boxes with the reptiles had been labeled as containing “plastic animal toys.”The turtles, which had a market value of $1.4 million, were intercepted by law enforcement at a border inspection, it said.Eastern box turtles and three-toed box turtles feature colorful markings and are a “prized feature in the domestic and foreign pet market, particularly in China and Hong Kong,” the Justice Department said in a statement.It said they are protected by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES).Sentencing was set for December 23. Lin faces a maximum penalty of five years in prison, three years of supervised release and a fine of up to $250,000.

Trump sends troops to US capital, mulls wider crackdown

Donald Trump on Monday deployed military and federal law enforcement to curb violent crime in Washington, seeking to cement his claim to be a “law and order” president with a crackdown that he said could be expanded to other major US cities. The Republican leader said he would place the capital’s Metropolitan Police under federal government control while also sending the National Guard onto the streets of the US capital.The overwhelmingly Democratic city faces allegations from Republican politicians that it is overrun by crime, plagued by homelessness and financially mismanaged — although violent offenses are down.”This is Liberation Day in DC, and we’re going to take our capital back,” the president told reporters at the White House.Trump — a convicted felon who granted blanket clemency to nearly 1,600 people involved in the 2021 US Capitol riot in Washington — has complained that local police and prosecutors aren’t tough enough. The administration says 800 DC National Guardsmen — potentially backed up by other “specialized” Guard units — will be deployed to the city of 700,000.The move was slammed by Democrats, including House Minority Leader Hakeem Jeffries, who said the aim was to “further the personal and political agenda of a wannabe king.” Richard Stengel, a former undersecretary of state in Barack Obama’s administration, pointed out that Washington is not among the most dangerous US cities.”Throughout history, autocrats use a false pretext to impose government control over local law enforcement as a prelude to a more national takeover,” he posted on X.”That’s far more dangerous than the situation he says he is fixing.”As Trump was speaking at the White House, several dozen demonstrators gathered outside.”There is absolutely no need for the National Guard here,” said 62-year-old retiree Elizabeth Critchley, who brandished a sign with the slogan “DC says freedom not fascism.”The new approach echoes Trump’s aggressive policies that have effectively sealed the southern border amid mass deportations while deploying active-duty troops against protesters in Los Angeles.- New York, Chicago next? -The president told reporters he planned to roll out the policy to other cities, spotlighting New York and Chicago.Unlike the 50 states, Washington operates under a unique relationship with the federal government that limits its autonomy and grants Congress extraordinary control over local matters.Since the mid-1970s, the Home Rule Act has allowed residents to elect a mayor and a city council, although Congress still controls the city’s budget.Data from Washington police show significant drops in violent crime between 2023 and 2024, although that was coming off the back of a post-pandemic surge.Trump posted on social media ahead of the news conference that he also wants to tackle homeless encampments, after signing an order last month making it easier to arrest rough sleepers.  Federal law enforcement have already increased their presence after a former Department of Government Efficiency staffer was beaten during an attempted carjacking. “Last week my administration surged 500 federal agents into the district including from the FBI, ATF, DEA, Park Police, the US Marshals Service, the Secret Service, and the Department of Homeland Security,” Trump said.”You know a lot of nations, they don’t have anything like that… They made dozens of arrests.”A Gallup poll in October found that 64 percent of Americans believed crime had risen in 2024, although FBI data shows the lowest levels of violent crime nationwide in more than half a century.Federal law allows Trump to control Washington’s police for 30 days, while a longer period would require authorization from Congress, which Democrats would likely block.The city’s Democratic mayor Muriel Bowser has not explicitly criticized Trump over the federal takeover, but she pushed back on White House claims of spiraling crime, noting the recent decrease.”While this action today is unsettling and unprecedented, I can’t say, given some of the rhetoric of the past, that we’re totally surprised,” she told a news conference.

One dead, dozens injured in Pennsylvania steel plant explosions

At least one person died and dozens were wounded Monday after blasts at a US Steel plant in the state of Pennsylvania, officials said.”Multiple explosions occurred today at U.S. Steel Clairton Coke Works,” the state’s Governor Josh Shapiro said in a post on X, naming a plant some 15 miles (25 kilometers) outside the city of Pittsburgh.”Injured employees have now been transported to local hospitals to receive care, and search-and-rescue efforts remain active at the plant,” he added.At least two people were believed to be missing, said Allegheny County Police, which confirmed on Facebook there had been one fatality.It added that “multiple individuals have been treated for additional injuries. The status of those individuals is not known at this time.”Senator John Fetterman of Pennsylvania posted on X that “dozens” had been wounded.US Steel said the incident happened at around 11:00 am (1500 GMT) on Monday and that emergency teams were immediately dispatched to the scene. “During times like this, U.S. Steel employees come together to extend their love, prayers, and support to everyone affected,” David Burritt, CEO of the company, said in a statement. Some US media outlets reported that people were still trapped under the rubble of the explosion. Videos on social media, not verified by AFP, appeared to show firefighters battling the blaze in front of a gutted industrial building, under a thick plume of white smoke. The Clairton Coke Works is the largest coking factory in the United States — a facility where coal is processed to produce coke, a key fuel in steelmaking. 

Trump signs order to extend China tariff truce by 90 days: US media

US President Donald Trump reportedly signed an order delaying the reimposition of higher tariffs on Chinese goods on Monday, hours before a trade truce between Washington and Beijing was due to expire.The halt on steeper tariffs will be in place for another 90 days, the Wall Street Journal and CNBC reported, citing Trump administration officials. The White House did not respond to queries on the matter.While the United States and China slapped escalating tariffs on each other’s products this year, reaching prohibitive triple-digit levels and snarling trade, both countries in May agreed to temporarily lower them.But their 90-day halt of steeper levies was due to expire Tuesday.Asked about the deadline earlier Monday, Trump said: “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”Trump also touted the tariff revenue his country has collected since his return to the White House, saying “we’ve been dealing very nicely with China.””We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state,” Chinese foreign ministry spokesman Lin Jian said in a statement.He added that Beijing also hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit.”The full text of Trump’s latest order has yet to be released. The 90-day extension means the truce is set to expire in early November, according to the Wall Street Journal.- Shaky truce -Even as both countries reached a pact to cool tensions after high level talks in Geneva in May, the de-escalation has been shaky.In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month.US trade envoy Jamieson Greer said last month that Trump will have the “final call” on any such extension.Trump said in a social media post late Sunday that he hoped China will “quickly quadruple its soybean orders,” adding that this would be a way to balance trade with the United States.For now, the extension of a truce means that US tariffs on Chinese goods this year stand at 30 percent.Under their de-escalation, Beijing’s corresponding levy on US products stood at 10 percent.Since returning to the presidency in January, Trump has slapped a 10-percent “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair. This surged to varying steeper levels last Thursday for dozens of economies.Major partners like the European Union, Japan and South Korea now see a 15-percent US duty on many products, while the level went as high as 41 percent for Syria.The “reciprocal” tariffs exclude sectors that have been separately targeted, such as steel and aluminum, and those that are being investigated like pharmaceuticals and semiconductors.They are also expected to exclude gold, although a clarification by US customs authorities made public last week caused concern that certain gold bars might still be targeted.Trump on Monday said that gold imports will not face additional tariffs, without providing further details.The US president has taken separate aim at individual countries such as Brazil over the trial of former president Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.Canada and Mexico come under a different tariff regime.

Trump signs order to extend China tariff truce by 90 days: US media

US President Donald Trump reportedly signed an order delaying the reimposition of higher tariffs on Chinese goods on Monday, hours before a trade truce between Washington and Beijing was due to expire.The halt on steeper tariffs will be in place for another 90 days, the Wall Street Journal and CNBC reported, citing Trump administration officials. The White House did not respond to queries on the matter.While the United States and China slapped escalating tariffs on each other’s products this year, reaching prohibitive triple-digit levels and snarling trade, both countries in May agreed to temporarily lower them.But their 90-day halt of steeper levies was due to expire Tuesday.Asked about the deadline earlier Monday, Trump said: “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”Trump also touted the tariff revenue his country has collected since his return to the White House, saying “we’ve been dealing very nicely with China.””We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state,” Chinese foreign ministry spokesman Lin Jian said in a statement.He added that Beijing also hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit.”The full text of Trump’s latest order has yet to be released. The 90-day extension means the truce is set to expire in early November, according to the Wall Street Journal.- Shaky truce -Even as both countries reached a pact to cool tensions after high level talks in Geneva in May, the de-escalation has been shaky.In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month.US trade envoy Jamieson Greer said last month that Trump will have the “final call” on any such extension.Trump said in a social media post late Sunday that he hoped China will “quickly quadruple its soybean orders,” adding that this would be a way to balance trade with the United States.For now, the extension of a truce means that US tariffs on Chinese goods this year stand at 30 percent.Under their de-escalation, Beijing’s corresponding levy on US products stood at 10 percent.Since returning to the presidency in January, Trump has slapped a 10-percent “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair. This surged to varying steeper levels last Thursday for dozens of economies.Major partners like the European Union, Japan and South Korea now see a 15-percent US duty on many products, while the level went as high as 41 percent for Syria.The “reciprocal” tariffs exclude sectors that have been separately targeted, such as steel and aluminum, and those that are being investigated like pharmaceuticals and semiconductors.They are also expected to exclude gold, although a clarification by US customs authorities made public last week caused concern that certain gold bars might still be targeted.Trump on Monday said that gold imports will not face additional tariffs, without providing further details.The US president has taken separate aim at individual countries such as Brazil over the trial of former president Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.Canada and Mexico come under a different tariff regime.