Wall Street records, ASX set to inch up; Trump says he has buyer for TikTok
The wider market has eliminated fears that disrupt the global supply of crude oil of the Israeli-Iran War and have higher prices. The ceasefire is still available between the two countries.
The crude oil price in the US increased by 0.4 percent to $ 65.52. Prices have returned to pre -conflict levels.
Investors also follow the potential progress on trade conflicts between the US and trade partners, especially China. US Treasury Secretary Scott Bessent said on Friday that the two countries have signed a trade agreement that would facilitate the magnet and rare soil minerals that are critical for manufacturing and microchip production from China.
The Chinese Ministry of Commerce said that the two parties have “further confirms the details of the frame” for trade talks. However, his testimony did not mention an agreement to enable us to access rare Earths, and instead, he would review and approve of “appropriate export applications for controlled items”.
Meanwhile, Tiktok said that Tiktok social media application by the Chinese company has set a buyer for US operations, but would not give details for two weeks.
“In the meantime, we have a buyer for Tiktok. “A very rich group.” The interview, published on Sunday, was banded on Friday.
An update on Friday, inflation, showed that the prices were higher in May, although prices were mostly matched with economists’ projections.
Inflation continues to be a major concern for businesses and consumers. Trump’s tariff policy repeatedly made it difficult for companies to make financial estimates. In addition, he has already put more pressure on worried consumers about stubborn inflation. A long business list from car manufacturers to retailers warned that higher import taxes will damage their income and profits.
The US has a 10 percent base line tariff for all imported goods and higher rates for Chinese goods and other import taxes on steel and cars. Although analysts and economists saw that the impact increased as they continue to move towards consumers through import taxes, economics and consumers remained a bit flexible.
“Even though we are already expected to see a little more transition to inflation statistics, we expect these effects to emerge more meaningful in the next few months,” said Greg Wilensky, President of Janus fixed income and portfolio manager.
The threat of more severe tariffs continues to focus on the economy. The current pause in retaliation tariffs against a long nation list will end in July. The fact that opportunities cannot negotiate or do not postpone further may once again raise investors and consumers.
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The federal reserve follows the tariff status by focusing on inflation. The inflation rate stubbornly sits just above the 2 percent target of the Central Bank. In a report on Friday, the preferred indicator rose to 2.3 percent in May. This rose from 2.2 percent in the previous month.
The FED reduced interest rates three times at the end of 2024 after a series of historical rates to cool inflation. While PCE is as high as 7.2 percent in 2022, the more widely used consumer price index reached 9.1 percent.
The FED did not reduce rates so far in 2025 due to concerns that tariffs could revive inflation and prevent the economy. Economists still expect at least two rates of deductions before the end of the year.
Bond yields are kept relatively constant. The return in the 10 -year Treasury rose from 4.24 percent to 4.27 percent late on Thursday. Following the expectations of the Federal Reserve more closely, the two -year Treasury return rose to 3.74 percent from Thursday.
They all raised the 32.05 points of the S&P 500 to 6.173.07. Dow 432.43 points reached 43.819.27 and Nasdaq added 105.55 points to 20.273.46.
While the stocks in Europe were mostly higher, the stocks in Asia were mixed.
AP
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