This content was published on <\/p>\n
July 24, 2025 – 04:00\n<\/p>\n
(Bloomberg) \u2014 Asian equities posted their longest winning streak since January as signs the US may pursue further trade deals following its pact with Japan injected fresh momentum into stock markets.<\/p>\n
The MSCI Asia-Pacific index rose 1%, a sixth consecutive day of gains, as benchmarks in Japan jumped 1.9%. The S&P 500 ended 0.8% higher to set a third straight daily closing record. Treasuries edged lower for a second day with the yield on the 10-year rising almost one basis point to 4.39%.\u00a0<\/p>\n
The dollar retreated after US Commerce Secretary Howard Lutnick said Federal Reserve Chair Jerome Powell \u201chas got to go.\u201d The yen strengthened.<\/p>\n
The gains in the stock market followed reports the US was closing in on an agreement with the European Union that would set a 15% tariff for most products after the accord with Japan. Progress on trade deals offered validation for investors betting Washington would adopt a pragmatic approach to trade policy before tariffs would meaningfully impact corporate profits.\u00a0<\/p>\n
\u201cThe deal with Japan and the potential 15% deal with the EU will spur confidence for investors that tariff affects won\u2019t be as bad as once feared,\u201d said Nick Twidale, chief market analyst at AT Global Markets. \u201cCaution will still come from negotiations with the US and China, but last night\u2019s updates will certainly give the market hopes that a similar number will be on the cards in those talks.\u201d<\/p>\n
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Over the past two months, Trump has struck key trade agreements, including a pact with Japan and progress toward resolving disputes with China, signaling a de-escalation in global trade tensions. These moves have reassured investors, easing fears of a prolonged trade war and fueling gains across global markets.<\/p>\n
The market\u2019s so-called fear gauge \u2014 the VIX \u2014 collapsed to 15 after topping 52 at the height of April\u2019s tariff-fueled turmoil.<\/p>\n
Trump also suggested that he wouldn\u2019t go below 15% as he sets so-called \u201creciprocal\u201d tariff rates ahead of an Aug. 1 deadline.\u00a0<\/p>\n
\u201cA deal with the EU within the next week would almost entirely defuse the impact of the Aug. 1 tariff expiry deadline,\u201d said Tony Sycamore, a market analyst at IG Australia.<\/p>\n
The US will evaluate the implementation of the trade agreement every quarter, and if Trump is unhappy, tariffs will go back to the 25% rate both for cars and the rest of Japan\u2019s products, US Treasury Secretary Scott Bessent warned. Bessent is scheduled to meet with Chinese officials in Stockholm next week for discussion aimed at extending a tariff truce.<\/p>\n
In corporate earnings, Alphabet Inc. shares climbed in after-hours trading on better-than-expected revenue while Tesla Inc. slumped 4.4% as Elon Musk warned of a \u2018few rough quarters\u2019 ahead after sales fell the most in a decade. SK Hynix shares rose as much as 3.7% after operating profit beat estimates.<\/p>\n
Elsewhere, Trump said he considered attempting to break up Nvidia Corp. to increase competition in artificial intelligence chips before finding out \u201cit\u2019s not easy in that business.\u201d Nvidia shares rose almost 1% in after-hours trading.<\/p>\n
Some of the main moves in markets:<\/p>\n
Stocks<\/p>\n
Currencies<\/p>\n
Cryptocurrencies<\/p>\n
Bonds<\/p>\n
Commodities<\/p>\n
This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u2013With assistance from Richard Henderson.<\/p>\n
\u00a92025 Bloomberg L.P.<\/p>\n","protected":false},"excerpt":{"rendered":"This content was published on July 24, 2025 – 04:00 (Bloomberg) \u2014 Asian equities posted their longest winning…\n","protected":false},"author":2,"featured_media":227899,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3091],"tags":[3420,51,22526,27062,2441,7063,22527,16,15],"class_list":{"0":"post-286858","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bonds","9":"tag-business","10":"tag-business-general","11":"tag-currency-values","12":"tag-markets","13":"tag-stocks","14":"tag-ticker","15":"tag-uk","16":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114906028360863261","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/286858","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=286858"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/286858\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/227899"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=286858"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=286858"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=286858"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}