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European stocks ended mixed on Tuesday while Wall Street indices diverged after marching towards records as investors weighed up the prospects for US trade deals ahead of President Donald Trump’s July 9 tariff deadline.Asian markets ended mixed after both the S&P 500 and the Nasdaq hit records on Monday, with Shanghai rising but Tokyo sinking more than one percent after Trump threatened more tariffs on Japan in a row over rice and autos. Profit-taking pulled those two indices lower in early US deals, while the Dow continued to close in on a record high.”The next few days are going to be testing times for governments in many parts of the world as they try to hammer out trade deals with the US,” said Dan Coatsworth, an investment analyst at AJ Bell.While few trade agreements have been reached so far, the week began with some optimism as Canada and the United States agreed to restart trade talks after Ottawa scrapped a digital services tax contested by US tech giants.Comments from Trump and some of his top officials also suggested the deadline was flexible, and that several pacts were nearly completed.”We expect risk sentiment to remain shaky until a deal is agreed… investors are on pause for now and are waiting for concrete news before making their next move,” said Kathleen Brooks, research director at trading group XTB.The dollar managed to advance but remained under pressure after its worst start to the year since 1973, with confidence deteriorating among many foreign investors since Trump returned to the White House.The Dollar Index, which compares the greenback to a basket of major currencies, fell 10.8 percent in the first half of the year, its steepest decline since the dollar became the global benchmark currency. Investors increasingly expect the Federal Reserve to cut rates at least twice this year — with Trump having loudly criticised Fed chief Jerome Powell for not doing so sooner — and all eyes will be on US jobs data due this week.Powell hit back on Tuesday at a central bankers’ gathering in Portugal, insisting that the Fed must remain “completely non-political” to successfully pursue its strategy of financial and economic stability.Investors are also keeping an eye on Trump’s multitrillion-dollar tax-cutting bill, whose passage remains uncertain over concerns that it will add $3 trillion to US deficits.The dollar’s recent weakness reflects “ongoing concerns over trade, tariffs, national debt and central bank independence”, said David Morrison at Trade Nation.The Tokyo market drop came after Trump threatened to impose a fresh levy on Japan over a row about the country not buying US rice.Japan has seen rice prices double over the past year owing to supply issues caused by various factors, piling pressure on Prime Minister Shigeru Ishiba ahead of elections this month.Trump also hit out at what he considered an unfair balance in the trade in cars between the two countries, and floated the idea of keeping a 25-percent tariff on autos in place.- Key figures at around 1540 GMT -New York – Dow: UP 0.9 percent at 44,481.84New York – S&P 500: DOWN 0.3 percent at 6,184.40New York – Nasdaq: DOWN 1.1 percent at 20,144.20London – FTSE 100: UP 0.3 percent at 8,785.33 points (close)Paris – CAC 40: FLAT at 7,662.59 (close)Frankfurt – DAX: DOWN 1.0 percent at 23,673.29 (close)Tokyo – Nikkei 225: DOWN 1.2 percent at 39,986.33 (close)Shanghai – Composite: UP 0.4 percent at 3,457.75 (close)Hong Kong – Hang Seng Index: Closed for holiday Euro/dollar: DOWN at $1.1773 from $1.1785 on MondayPound/dollar: DOWN at $1.3708 from $1.3732Dollar/yen: DOWN at 143.63 yen from 143.98 yenEuro/pound: UP at 85.88 pence from 85.82 penceBrent North Sea Crude: UP 0.3 percent at $66.93 per barrelWest Texas Intermediate: UP 0.5 percent at $65.44 per barrel

K-pop supergroup BTS on Tuesday announced their comeback in the spring of 2026 with an album and world tour, prompting a fan frenzy as millions eagerly await their return.South Korea’s most lucrative musical act has been on a self-described hiatus since 2022 as its members undertook the mandatory service required of all South Korean men under 30 due to tensions with the nuclear-armed North.With five members discharged from military service in June, many in the industry have been anticipating their comeback.”Starting in July… we’re planning to make something massive, so from then (this month), we’ll probably gather together and stay focused on making music,” band leader RM said on their superfan platform Weverse.”Our group album is officially set to be released next spring,” RM said during a live chat.”Starting next spring, we’ll of course be going on tour, so please look forward to seeing us all around the globe,” he added. The band also revealed their plans to head this month to the United States, where all seven members will gradually regroup to begin music production and prepare for upcoming performances.If released in the spring of 2026, their comeback album would be their first in four years since “Proof”, which was the best-selling album of 2022 in South Korea, with nearly 3.5 million copies sold.Prior to their mandatory military service, the boy band generated more than 5.5 trillion won ($4 billion) in yearly economic impact, according to the Korea Culture and Tourism Institute.That accounts for roughly 0.2 percent of South Korea’s total GDP, according to official data.BTS holds the record as the most-streamed group on Spotify, and became the first K-pop act to top both the Billboard 200 and the Billboard Artist 100 charts in the United States.

Most stock markets retreated Tuesday and the dollar dipped as investors weighed the prospect of US trade deals being made ahead of President Donald Trump’s July 9 tariff deadline.European equities traded lower in early afternoon deals while Asian markets diverged, with Shanghai closing higher and Tokyo sinking more than one percent.Japanese stocks were hit by Trump’s threat of more tariffs on Japan in a row over rice and autos. “The next few days are going to be testing times for governments in many parts of the world as they try to hammer out trade deals with the US,” said Dan Coatsworth, an investment analyst at AJ Bell.While few trade agreements have been reached, the week began with some optimism as Canada and the United States agreed to restart trade talks, after Ottawa scrapped a digital services tax.Comments from Trump and some of his top officials also suggested some flexibility on the deadline, and that several pacts were nearly completed.European markets ticked lower in the absence of trade deal announcements between the European Union and the United States.”We expect risk sentiment to remain shaky until a deal is agreed… investors are on pause for now and are waiting for concrete news before making their next move,” said Kathleen Brooks, research director at trading group XTB.Eurozone inflation increased slightly last month to the European Central Bank’s target of two percent, official data showed Tuesday. The dollar remained under pressure after its worst start to the year since 1973, with confidence deteriorating among many foreign investors since Trump returned to the White House.The Dollar Index, which compares the greenback to a basket of major currencies, fell 10.8 percent in the first half of the year, its steepest decline since the dollar became the global benchmark currency. Investors increasingly expect the Federal Reserve to cut rates at least twice this year, and all eyes will be on US jobs data due this week.In Asia, Shanghai rose, tracking the record highs on Wall Street the previous day, while Hong Kong was closed for a holiday. Tokyo market drop came after Trump threatened a fresh levy on Japan over a row about the country accepting US rice exports.Japan has seen rice prices double over the past year owing to supply issues caused by various factors, piling pressure on Prime Minister Shigeru Ishiba ahead of key elections this month.Trump’s outburst over the grain came after he had hit out at what he considered an unfair balance in the trade in cars between the two countries, and floated the idea of keeping 25 percent tariffs on autos in place.Investors are also keeping an eye on the US president’s multitrillion-dollar tax-cutting bill, which is being debated in the Senate.Trump has urged lawmakers to pass the bill by July 4 but its passage remains uncertain due to concerns that it will add $3 trillion to deficits.- Key figures at around 1100 GMT -London – FTSE 100: DOWN 0.3 percent at 8,731.86 pointsParis – CAC 40: DOWN 0.3 percent at 7,645.18Frankfurt – DAX: DOWN 0.4 percent at 23,806.87Tokyo – Nikkei 225: DOWN 1.2 percent at 39,986.33 (close)Shanghai – Composite: UP 0.4 percent at 3,457.75 (close)Hong Kong – Hang Seng Index: Closed for holiday New York – Dow: UP 0.6 percent at 44,094.77 (close)Euro/dollar: UP at $1.1812 from $1.1785 on MondayPound/dollar: UP at $1.3776 from $1.373bcp2Dollar/yen: DOWN at 142.96 yen from 143.98 yenEuro/pound: DOWN at 85.74 pence from 85.82 penceBrent North Sea Crude: UP 1.0 percent at $67.39 per barrelWest Texas Intermediate: UP 1.1 percent at $65.80 per barrel

India’s capital banned fuel sales to ageing vehicles on Tuesday as authorities try to tackle the sprawling megacity’s hazardous air pollution.The city is regularly ranked one of the most polluted capitals globally with acrid smog blanketing its skyline every winter.At the peak of the smog, levels of PM2.5 pollutants — dangerous cancer-causing microparticles small enough to enter the bloodstream through the lungs — surge to more than 60 times the World Health Organization’s recommended daily maximum. Petrol cars older than 15 years, and diesel vehicles older than 10, were already banned from operating on New Delhi’s roads by a 2018 Supreme Court ruling.But millions flout the rules.According to official figures, over six million such vehicles are plying the city’s streets.The ban that came into force on Tuesday seeks to keep them off the roads by barring them from refuelling.Police and municipal workers were deployed at fuel stations across Delhi, where number plate-recognising cameras and loudspeakers were installed. “We have been instructed to call in scrap car dealers if such vehicles come in,” said a traffic policeman posted at a fuelling station in the city. From November, the ban will be extended to satellite cities around the capital, an area home to more than 32 million people.A study in the Lancet medical journal attributed 1.67 million premature deaths in India to air pollution in 2019.Each winter, vehicle and factory emissions couple with farm fires from surrounding states to wrap the city in a dystopian haze. Cooler temperatures and slow-moving winds worsen the situation by trapping deadly pollutants. Piecemeal government initiatives, such as partial restrictions on fossil fuel-powered transport and water trucks spraying mist to clear particulate matter from the air, have failed to make a noticeable impact. 

Asian stocks rose Tuesday amid optimism countries will strike US trade deals, but Tokyo’s Nikkei sank after Donald Trump threatened to impose a fresh tariff rate on Japan as he hit out at Japan over rice and autos.The dollar fell again as investors grow increasingly confident the Federal Reserve will cut rates at least twice this year, with keen interest in US jobs data due this week.Investors are also keeping an eye on the progress of the US president’s signature multi-trillion-dollar tax-cutting bill, which is being debated in the Senate.While few trade agreements have been reached as the White House’s July 9 deadline approaches, equity markets are enjoying a healthy run-up on expectations that breakthroughs will be made or the timeline will be pushed back.Comments from Trump and some of his top officials suggesting there could be some wiggle room have added to the positive mood, with National Economic Council director Kevin Hassett telling CNBC a “double digit” number of pacts, including frameworks, were near.News that Canada had rescinded a tax affecting US tech firms, which had prompted Trump to halt trade talks, and restarted negotiations fuelled optimism that other governments would make deals.All three main indexes on Wall Street rose again Monday, with the S&P 500 and Nasdaq each pushing to another record high, providing a springboard for Asia.Shanghai, Singapore, Seoul and Taipei led healthy gains across the region, while London, Paris and Frankfurt opened on the front foot.However, Tokyo, which has enjoyed a strong run in recent weeks, sank more than one percent after Trump threatened to impose a fresh levy on Japan over a row about the country accepting US rice exports.”I have great respect for Japan, they won’t take our RICE, and yet they have a massive rice shortage,” Trump wrote on his Truth Social platform. “In other words, we’ll just be sending them a letter, and we love having them as a Trading Partner for many years to come,” he added.Japan has seen rice prices double over the past year owing to supply issues caused by various factors, piling pressure on Prime Minister Shigeru Ishiba ahead of key elections this month.Trump’s outburst over the grain came after he had hit out at what he considered an unfair balance in the trade in cars between the two countries, and floated the idea of keeping 25 percent tariffs on autos in place.”Trump has been shaking things up by expressing dissatisfaction with issues such as automobiles and rice, signaling a stall in trade negotiations with Japan,” Hideyuki Ishiguro, at Nomura Asset Management, said.”If the negotiations with Japan were to be unilaterally terminated or break down, it could undermine the assumptions behind investing in Japanese stocks.”The Nikkei was also hit by a stronger yen as expectations for a series of Fed rate cuts weigh on the dollar.The greenback has been hammered by speculation Trump will install someone willing to reduce rates quickly when central bank boss Jerome Powell leaves his post next year.The prospect of lower borrowing costs has pushed the Dollar Index, which compares the greenback to a basket of major currencies, to its lowest level since February 2022. While most observers see the Fed moving in September or October, non-farm payrolls figures due Friday will be keenly watched, with a soft reading likely to boost the chances of an earlier cut.Gold prices rose more than one percent to sit around $3,330 as the cheaper dollar and prospect of lower rates make the commodity more attractive to investors.Senators continue to debate Trump’s so-called “Big Beautiful Bill”, with its passage on a knife’s edge owing to wavering Republicans amid warnings it will add more than $3 trillion to deficits.The president has called for lawmakers to get the mega-bill, which extends tax cuts and slashes spending on key entitlements, to his desk by July 4.- Key figures at around 0715 GMT -Tokyo – Nikkei 225: DOWN 1.2 percent at 39,986.33 (close)Shanghai – Composite: UP 0.4 percent at 3,457.75 (close)London – FTSE 100: DOWN 0.3 percent at 8,782.85Hong Kong – Hang Seng Index: Closed for holiday Euro/dollar: UP at $1.1788 from $1.1785 on MondayPound/dollar: UP at $1.3734 from $1.3732Dollar/yen: DOWN at 143.70 yen from 143.98 yenEuro/pound: DOWN at 85.70 pence from 85.82 penceWest Texas Intermediate: UP 0.2 percent at $65.25 per barrelBrent North Sea Crude: UP 0.3 percent at $66.92 per barrelNew York – Dow: UP 0.6 percent at 44,094.77 (close) 

Asian stocks rose Tuesday amid optimism countries will strike US trade deals, though Tokyo’s Nikkei sank after Donald Trump threatened to impose a fresh tariff rate on Japan as he hit out at the country over rice and autos.The dollar also extended losses as investors grow increasingly confident the Federal Reserve will cut interest rates at least twice this year, with keen interest in US jobs data due this week.Investors are also keeping an eye on the progress of the US president’s signature multi-trillion-dollar tax-cutting bill, which is being debated in the Senate.While few agreements have been reached as the White House’s July 9 deadline approaches, equity markets are enjoying a healthy run-up on expectations that breakthroughs will be made or the timeline will be pushed back.Comments from Trump and some of his top officials suggesting there could be some wiggle room have added to the positive mood, with National Economic Council director Kevin Hassett telling CNBC a “double digit” number of pacts, including frameworks, were near.News that Canada had rescinded a tax affecting US tech firms, which had prompted Trump to halt trade talks, and restarted negotiations fuelled optimism that other governments would make deals.All three main indexes on Wall Street rose again Monday, with the S&P 500 and Nasdaq each pushing to another record high, providing a springboard for Asia.Shanghai, Sydney, Singapore, Seoul and Taipei led healthy gains across the region.However, Tokyo, which has enjoyed a strong run in recent weeks, sank one percent after Trump threatened to impose a fresh levy on Japan over a row about the country accepting US rice exports.”I have great respect for Japan, they won’t take our RICE, and yet they have a massive rice shortage,” Trump wrote on his Truth Social platform. “In other words, we’ll just be sending them a letter, and we love having them as a Trading Partner for many years to come,” he added.Japan has seen rice prices double over the past year owing to supply issues caused by various factors, piling pressure on Prime Minister Shigeru Ishiba ahead of key elections this month.Trump’s outburst over the grain came after he had hit out at what he considered an unfair balance in the trade in cars between the two countries, and floated the idea of keeping 25 percent tariffs on autos in place.”Trump has been shaking things up by expressing dissatisfaction with issues such as automobiles and rice, signaling a stall in trade negotiations with Japan,” Hideyuki Ishiguro, at Nomura Asset Management, said.”If the negotiations with Japan were to be unilaterally terminated or break down, it could undermine the assumptions behind investing in Japanese stocks.”The Nikkei was also hit by a stronger yen as expectations for a series of Fed rate cuts weigh on the dollar.The greenback has been hammered by speculation Trump will install someone willing to reduce rates quickly when central bank boss Jerome Powell leaves his post next year.The prospect of lower borrowing costs has pushed the Dollar Index, which compares the greenback to a basket of major currencies, to its lowest level since February 2022. While most observers see the Fed moving in September or October, non-farm payrolls figures due Friday will be keenly watched, with a soft reading likely to boost the chances of an earlier cut.Gold prices rose more than one percent to sit above $3,300 as lower rates makes the commodity more attractive to investors.Senators continue to debate Trump’s so-called “Big Beautiful Bill”, with its passage on a knife’s edge owing to wavering Republicans amid warnings it will add more than $3 trillion to deficits.The president has called for lawmakers to get the mega-bill, which extends tax cuts and slashes spending on key entitlements, to his desk by July 4.- Key figures at around 0230 GMT -Tokyo – Nikkei 225: DOWN 1.0 percent at 40,081.61 (break)Shanghai – Composite: UP 0.2 percent at 3,450.64Hong Kong – Hang Seng Index: Closed for holidayEuro/dollar: UP at $1.1795 from $1.1785 on MondayPound/dollar: UP at $1.3740 from $1.3732Dollar/yen: DOWN at 143.63 yen from 143.98 yenEuro/pound: UP at 85.83 pence from 85.82 penceWest Texas Intermediate: DOWN 0.4 percent at $64.88 per barrelBrent North Sea Crude: DOWN 0.3 percent at $66.54 per barrelNew York – Dow: UP 0.6 percent at 44,094.77 (close) London – FTSE 100: DOWN 0.4 percent at 8,760.96 (close)

Wall Street stocks pushed into new record territory on Monday amid optimism the United States would reach trade deals ahead of a self-imposed deadline next week and extend tax cuts.Canada said on Sunday it would restart trade negotiations with the United States after it rescinded a tax affecting US tech firms that had prompted US President Donald Trump to halt talks.That boosted optimism that other governments would make deals with Trump to avoid his steep levies, as the July 9 cut-off for tariff reprieve looms.”Investors seem confident trade deals will be struck, geopolitical tensions ease and a major economic slump is avoided,” said Dan Coatsworth, investment analyst at AJ Bell.”The big unknown is whether investors are correct or are simply being too complacent,” he added.Officials from Japan and India have extended their stays in Washington to continue talks, raising hopes for agreements with two of the world’s biggest economies.On Wall Street, both the S&P 500 and Nasdaq Composite finished higher in the final session of the second quarter, adding to last week’s records.The S&P 500 finished at 6,204.95, up 0.5 percent for the day and around 10.6 percent for the quarter.Trade optimism also helped boost most Asian stocks but Europe’s main indices slid lower.Briefing.com analyst Patrick O’Hare said Wall Street’s “positive disposition follows the weekend update that the Senate passed a procedural vote that will set up its version of the ‘One Big, Beautiful Bill’ for a full Senate vote tonight”.Trump’s signature domestic policy bill extends tax cuts from his first term at a cost of $4.5 trillion while, among other things, beefing up border security and placing new restrictions on public health insurance programs.The Republican president has ramped up pressure to get the package to his desk by July 4 and called out wavering lawmakers from his party.However, there are worries about the impact on the economy, with the non-partisan Congressional Budget Office estimating the measure would add nearly $3.3 trillion to US deficits over a decade.There was little major reaction on Monday to data showing the contraction in Chinese factory activity eased further in June after a China-US trade truce.However, investors will be keeping an eye on data this week and a key US jobs report on Thursday will be pored over for signs of the pace of interest-rate cuts. “This could be the make-or-break moment for July rate cut expectations,” said City Index and FOREX.com analyst Fawad Razaqzada.Only one in five investors currently see the Federal Reserve cutting interest rates at its July meeting, according to the CME’s FedWatch tool. But they expect it to cut two or three times later this year.Trump’s indication he could choose a successor to Federal Reserve boss Jerome Powell within months is also leading investors to ramp up rate cut bets.- Key figures at around 2040 GMT -New York – Dow: UP 0.6 percent at 44,094.77 (close) New York – S&P 500: UP 0.5 percent at 6,204.95 (close)New York – Nasdaq Composite: UP 0.5 percent at 20,369.73 (close)London – FTSE 100: DOWN 0.4 percent at 8,760.96 (close)Paris – CAC 40: DOWN 0.3 percent at 7,665.91 (close)Frankfurt – DAX: DOWN 0.5 percent at 23,909.61 (close)Tokyo – Nikkei 225: UP 0.8 percent at 40,487.39 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 24,072.28 (close)Shanghai – Composite: UP 0.6 percent at 3,444.43 (close)Euro/dollar: UP at $1.1785 from $1.1718 on FridayPound/dollar: UP at $1.3732 from $1.3716Dollar/yen: DOWN at 143.98 yen from 144.65 yenEuro/pound: UP at 85.82 pence from 85.42 penceWest Texas Intermediate: DOWN 0.6 percent at $65.11 per barrelBrent North Sea Crude: DOWN 0.2 percent at $67.61 per barrelburs-jmb/des

Mark Zuckerberg and Meta are spending billions to recruit top artificial intelligence talent, triggering debates about whether the aggressive hiring spree will pay off in the competitive generative AI race.OpenAI CEO Sam Altman recently complained that Meta has offered $100 million bonuses to lure engineers away from his company, where they would join teams already earning substantial salaries. Several OpenAI employees have accepted Meta’s offers, prompting executives at the ChatGPT maker to scramble to retain their best talent.”I feel a visceral feeling right now, as if someone has broken into our home and stolen something,” Chief Research Officer Mark Chen wrote in a Saturday Slack memo obtained by Wired magazine. Chen said the company was working “around the clock to talk to those with offers” and find ways to keep them at OpenAI.Meta’s recruitment drive has also landed Scale AI founder and former CEO Alexandr Wang, a Silicon Valley rising star, who will lead a new group called Meta Superintelligence Labs, according to an internal memo, whose content was confirmed by the company.Meta paid more than $14 billion for a 49 percent stake in Scale AI in mid-June, bringing Wang aboard as part of the acquisition. Scale AI specializes in labeling data to train AI models for businesses, governments, and research labs.”As the pace of AI progress accelerates, developing superintelligence is coming into sight,” Zuckerberg wrote in the memo, which was first reported by Bloomberg.”I believe this will be the beginning of a new era for humanity, and I am fully committed to doing what it takes for Meta to lead the way,” he added.US media outlets report that Meta’s recruitment campaign has also targeted OpenAI co-founder Ilya Sutskever, Google rival Perplexity AI, and the buzzy AI video startup Runway.Seeking ways to expand his business empire beyond Facebook and Instagram, Zuckerberg is personally leading the charge, driven by concerns that Meta is falling behind competitors in generative AI.The latest version of Meta’s AI model, Llama, ranked below heavyweight rivals in code-writing performance on the LM Arena platform, where users evaluate AI technologies.Meta is integrating new recruits into a dedicated team focused on developing “superintelligence” — AI that surpasses human cognitive abilities.- ‘Mercenary’ approach -Tech blogger Zvi Moshowitz believes Zuckerberg had little choice but to act aggressively, though he expects mixed results from the talent grab.”There are some extreme downsides to going pure mercenary… and being a company with products no one wants to work on,” Moshowitz told AFP. “I don’t expect it to work, but I suppose Llama will suck less.”While Meta’s stock price approaches record highs and the company’s valuation nears $2 trillion, some investors are growing concerned.Institutional investors worry about Meta’s cash management and reserves, according to Baird strategist Ted Mortonson.”Right now, there are no checks and balances” on Zuckerberg’s spending decisions, Mortonson noted.Though the potential for AI to enhance Meta’s profitable advertising business is appealing, “people have a real big concern about spending.”Meta executives envision using AI to streamline advertising from creation to targeting, potentially bypassing creative agencies and offering brands a complete solution.The AI talent acquisitions represent long-term investments unlikely to boost Meta’s profitability immediately, according to CFRA analyst Angelo Zino. “But still, you need those people on board now and to invest aggressively to be ready for that phase” of generative AI development.The New York Times reports that Zuckerberg is considering moving away from Meta’s Llama model, possibly adopting competing AI systems instead.

Global equities steadied Monday as investors kept tabs on countries’ efforts to strike trade deals with the United States before a key deadline next week.Canada said Sunday it will restart trade negotiations with the United States after it rescinded a tax impacting US tech firms that had prompted US President Donald Trump to call off talks. That boosted optimism for other governments to make deals with Trump to avoid his steep levies, as the July 9 cut-off for tariff reprieve looms. “Investors seem confident trade deals will be struck, geopolitical tensions ease, and a major economic slump is avoided,” said Dan Coatsworth, investment analyst at AJ Bell.”The big unknown is whether investors are correct or are simply being too complacent,” he added.Officials from Japan and India have extended their stays in Washington to continue talks, raising hopes for agreements with two of the world’s biggest economies.Trade optimism helped boost most Asian stocks and US futures. Meanwhile European equities were mixed in more tentative trade, with Paris ticking higher, London flat and Frankfurt edging lower. Over the last month, US indices have notably outperformed European ones, explained Kathleen Brooks, research director at trading group XTB.She attributed this to a “slowdown in the defence sector.”The dollar extended losses against its peers on Monday as traders ramped up bets for at least two rate cuts this year following Trump’s indication he could choose a successor to Federal Reserve boss Jerome Powell within months.A key US jobs report on Thursday will also be pored over for signs of the pace of interest-rate cuts. Eyes were also on Trump’s signature tax-cutting bill — now inching towards a Senate vote — that would add trillions of dollars to the national debt.The “One Big Beautiful Bill” extends Trump’s expiring first-term tax cuts at a cost of $4.5 trillion and beefs up border security.The Republican president has ramped up pressure to get the package to his desk by July 4, and called out wavering lawmakers from his party.However, there are worries about the impact on the economy, with the nonpartisan Congressional Budget Office estimating the measure would add nearly $3.3 trillion to US deficits over a decade.The S&P 500 and Nasdaq finished at all-time peaks Friday amid optimism governments will be able to avoid swingeing US tariffs.There was little major reaction on Monday to data showing the contraction in Chinese factory activity eased further in June after a China-US trade truce.- Key figures at around 1050 GMT -London – FTSE 100: FLAT at 8,799.59 pointsParis – CAC 40: UP 0.1 percent at 7,698.59Frankfurt – DAX: DOWN 0.1 percent at 23,998.68Tokyo – Nikkei 225: UP 0.8 percent at 40,487.39 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 24,072.28 (close)Shanghai – Composite: UP 0.6 percent at 3,444.43 (close)New York – Dow: UP 1.0 percent at 43,819.27 (close)Euro/dollar: UP at $1.1723 from $1.1718 on FridayPound/dollar: DOWN at $1.3698 from $1.3715Dollar/yen: DOWN at 144.20 yen from 144.68 yenEuro/pound: UP at 85.59 pence from 85.43 penceWest Texas Intermediate: DOWN 0.4 percent at $65.25 per barrelBrent North Sea Crude: DOWN 0.3 percent at $66.61 per barrel

Equities mostly rose Monday following a record-breaking day on Wall Street as investors kept tabs on countries’ efforts to strike trade deals with the United States before a key deadline next week.And the dollar weakened on growing expectations for more interest rate cuts, while eyes were on US Presiident Donald Trump’s signature tax-cutting bill — now inching towards a Senate vote — that some experts warn could add trillions of dollars to the national debt.The S&P 500 and Nasdaq finished at all-time peaks Friday amid optimism governments will be able to avoid swingeing tariffs imposed by the US president in April and paused until July 9 to allow for negotiations.Officials from Japan and India have extended their stays in Washington to continue talks, raising hopes for agreements with two of the world’s biggest economies.Hopes that the deadline could be extended were boosted Friday by Treasury Secretary Scott Bessent, who told Fox Business “we have countries approaching us with very good deals” but they might not all be finalised by next week. But he added: “If we can ink 10 or 12 of the important 18 — there are another important 20 relationships — then I think we could have trade wrapped up by Labor Day,” which falls on September 1.Trump said at the weekend that he did not expect to extend the deadline, telling the “Sunday Morning Futures with Maria Bartiromo” show: “I don’t think I’ll need to”.”I could, no big deal,” he added in the interview that was taped Friday.Meanwhile, Canadian Finance Minister Francois-Philippe Champagne said Sunday that Ottawa would rescind taxes impacting US tech firms in hopes of reaching a trade agreement with Washington after Trump called off talks in retaliation for the levy.Negotiations would resume with the aim of getting a deal by July 21, Ottawa added.After Wall Street’s record day, most markets mostly followed suit Monday.Tokyo extended its recent rally fuelled by tech firms, while there were also gains in Shanghai, Sydney, Seoul, Singapore, Wellington, Manila, Bangkok and Jakarta.US futures also rose but Hong Kong, Mumbai and Taipei fell.London and Paris was flat while Paris edged down in early trade.There was little major reaction to data showing the contraction in Chinese factory activity eased further in June after a China-US trade truce.The dollar extended losses against its peers as traders increased bets on at least two rate cuts this year following Trump’s indication he could choose a successor to Federal Reserve boss Jerome Powell within months.”Markets… are already pricing not just two Fed cuts this year, but a full-blown easing cycle stretching deep into 2026,” said SPI Asset Management’s Stephen Innes.”Powell may still hold the gavel, but traders are betting the next Fed chair walks, talks, and cuts like a dove in MAGA red.”However, Ronald Temple, chief market strategist at Lazard, warned: “Were President Trump to announce his nominee to succeed Jay Powell much earlier than usual, it could create a situation where the candidate’s commentary could undermine market confidence in the future direction of Fed policy if he or she were to diverge publicly from Fed communications.”Senators were also debating Trump’s “One Big Beautiful Bill”, which extends his expiring first-term tax cuts at a cost of $4.5 trillion and beefs up border security.The Republican president has ramped up pressure to get the package to his desk by July 4, and called out wavering lawmakers from his party.However, there are worries about the impact on the economy, with the nonpartisan Congressional Budget Office estimating the measure would add nearly $3.3 trillion to US deficits over a decade.- Key figures at around 0810 GMT -Tokyo – Nikkei 225: UP 0.8 percent at 40,487.39 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 24,072.28 (close)Shanghai – Composite: UP 0.6 percent at 3,444.43 (close)London – FTSE 100: FLAT at 8,796.66 Euro/dollar: UP at $1.1733 from $1.1718 on FridayPound/dollar: UP at $1.3723 from $1.3715Dollar/yen: DOWN at 144.07 yen from 144.68 yenEuro/pound: UP at 85.58 pence from 85.43 penceWest Texas Intermediate: DOWN 0.2 percent at $65.40 per barrelBrent North Sea Crude: DOWN 0.1 percent at $67.72 per barrelNew York – Dow: UP 1.0 percent at 43,819.27 (close)