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Analysts have cautioned against buying the dip in Apple shares following the announcement of a special tariff on iPhones, warning that the issue is likely to linger as a drag on the stock. Concerns have been reinforced by Apple’s recent underperformance relative to broader tech benchmarks. Analysts note they would avoid taking positions in the stock without a significant resolution, adding that a shift in production to the US appears unlikely given the cost implications. They argue that tariffs, while steep, may still be less expensive than domestic manufacturing, suggesting downward pressure on the stock is likely to persist.

The White House believes financial markets may be overreacting to President Donald Trump’s recent tariff comments, according to CNBC’s Eamon Javers. Officials reportedly do not view the president’s social media post as a formal policy declaration. Javers also noted that US Trade Representative Jamieson Greer is due to speak with European counterparts later today, suggesting the post may have been a strategic move to bolster Greer’s negotiating position.

Big Oil’s record shareholder payouts face pressure as crude prices slump and balance sheets tighten. Analysts warn buybacks may be first to go, with BP already scaling back. Despite strong Q1 earnings, the industry’s high payout ratio may prove unsustainable.

US new-home sales unexpectedly jumped nearly 11% in April to a 743,000 annual rate — the highest since February 2022 — driven by demand in the South and Midwest. Builders boosted affordability with price cuts, though wider market headwinds persist.

Chinese EV giant BYD has overtaken Tesla in European battery electric vehicle sales for the first time, despite steeper EU tariffs. April sales surged 359% year-on-year, marking a “watershed moment” as BYD challenges both Tesla and legacy European brands. The move highlights Europe’s growing status as a key battleground for global EV makers. BYD’s rapid rise—outpacing Fiat and Seat in some markets—comes ahead of the opening of its Hungarian plant, while Tesla grapples with falling demand and mounting political headwinds. Chinese automakers overall saw European EV sales jump 59% last month despite tariffs.

Rattled by Donald Trump’s threat to levy a 50% tariff on European Union goods, the three major US indices opened Friday’s trading session in the red. The Dow Jones Industrial Average was trading 400 points lower, while the S&P 500 and Nasdaq Composite too were trading in the red at 60 and 260 points, respectively, at around 7.04 pm IST.

European stocks fell in premarket trading after President Donald Trump proposed a 50% tariff on the European Union. US-listed shares of Deutsche Bank dropped 5.1%, while HSBC and ING each slipped around 2%. Banco Santander lost 1.9%, and luxury giants LVMH and Hermès also traded lower. The Stoxx Europe 600 index was last down 1.5%.

The yield on the 30-year US Treasury bond reached 5.161% this week, marking its highest level since October 2023. The 10-year note also briefly exceeded 4.6%. Both yields eased slightly on Friday.

Apple shares dropped 3.5% in premarket trading after President Donald Trump declared the company would face tariffs of 25% or more on iPhones produced outside the US.

Nuclear-related stocks rallied after reports suggested Trump is poised to sign executive orders supporting the sector. Oklo and NuScale each jumped over 8%, while Constellation Energy and Cameco climbed 2% and 4% respectively.

Meanwhile, Intuit surged nearly 8% after issuing a strong full-year forecast. The firm now expects adjusted earnings between $20.07 and $20.12 per share, topping analyst expectations, with third-quarter results also exceeding projections.

Nuclear stocks surged after reports that Donald Trump plans to sign executive orders supporting the industry, including measures to fast-track reactor construction and secure key materials. NuScale, Oklo, Constellation Energy, and Cameco all posted significant gains on the news.

Apple has increased trade-in values for iPhones in China in a bid to revive demand in a market where its share and shipments have declined. The move comes as Apple faces stiff competition from local giants Xiaomi and Huawei, as well as ongoing uncertainty over US-China trade policy. While the increases are modest, they reflect Apple’s broader strategy to retain relevance in its second-largest market, amid growing concerns about its supply chain and pressure from the Trump administration to shift production out of China.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index futures have sharply fallen after President Donald Trump threatened to impose a 25% tariff on iPhones that are not made in the USA. The Dow is down 500 points, S&P is at -90 points, and Nasdaq is trading 400 points down.

Donald Trump has proposed a 50% tariff on goods from the European Union, blaming stalled trade talks and what he described as unfair treatment of American companies. The tariff, set to take effect on June 1, would exclude US-made products.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index futures have sharplu fallen after President Donald Trump threatened to impose a 25% tariff on iPhones that are not made in the USA. The Dow is down 500 points, S&P is at -70 points, and Nasdaq is trading 300 points down.

 

Apple shares dropped 3% in pre-market trading on Friday after US President Donald Trump declared on Truth Social that a 25% tariff “must be paid by Apple” on iPhones sold in the US but manufactured abroad.US stock futures dipped early Friday after President Donald Trump said Apple must pay tariffs on iPhones manufactured abroad, signalling a renewed push in his tariff strategy. The Dow Jones Industrial Average futures dropped 112 points (0.3%), with the Nasdaq 100 and S&P 500 futures also falling 0.4% and 0.3% respectively.Apple shares were caught in the crossfire, down 0.36%, with the tech giant’s stock under pressure following Trump’s remarks. The broader market was already on edge, as concerns about government debt and higher long-term Treasury yields weighed on sentiment.U.S. stock futures dipped early Friday after former President Donald Trump said Apple must pay tariffs on iPhones manufactured abroad, signalling a renewed push in his tariff strategy. The Dow Jones Industrial Average futures dropped 112 points (0.3%), with the Nasdaq 100 and S&P 500 futures also falling 0.4% and 0.3% respectively.Apple shares were caught in the crossfire, with the tech giant’s stock under pressure following Trump’s remarks. The broader market was already on edge, as concerns about government debt and higher long-term Treasury yields weighed on sentiment.

The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite Index futures are trading in the red about two hours before Friday’s trading session opens on Wall Street. The Dow is down 50 points, S&P just in the red at -1%, and Nasdaq is trading 10 points down.

Investors should buy the selloff in long-dated Treasuries as the government is likely to heed warnings from bond vigilantes to bring its debt under control, according to Bank of America Corp.’s Michael Hartnett.

The 30-year Treasury note is at a “great entry point” with the yield above 5%, the strategist wrote. Bond investors are “incentivized to punish the unambiguously unsustainable path of debt and deficit,” he added.

US bond yields have surged this week as President Donald Trump’s tax cut plan has ignited concerns that it would add trillions of dollars in coming years to already bulging budget deficits, at a time when investor appetite is waning for US assets across the globe. Sentiment toward Treasuries has also taken a hit since Moody’s Ratings stripped the US of its top credit grade late last week.

“Trump is asking a lot from the bond market, and it’s not clear how much he can ask,” said Leonard Cohen, chief executive officer at Ginjer Asset Management in Paris. “The concerns are clearly more on bonds rather than stocks at the moment.”

“The current market environment is still geared toward fading dollar rallies, given ongoing concern over the US economic outlook from tariffs and now geopolitical risks and fiscal concerns,” said Felix Ryan, an analyst at ANZ Banking Group in Sydney.

Chances of a close brush with a US payment default are growing as the Senate plans for time-consuming revisions to President Donald Trump’s sprawling, multi-trillion-dollar tax and spending package.

Republican congressional leaders attached an increase in the US legal debt limit to the president’s signature economic legislation. That gambit adds urgency to the enactment of a top-priority bill, but could put averting a default at the mercy of the complex legislative obstacle course that lies ahead.

Not only does the tax bill face a protracted process in the Senate, but Republican members have indicated that they expect to make extensive changes on the way to passage. That could provoke further problems when the revised measure is returned to the House for approval, given it only passed on Thursday by a single vote after tortuous negotiations among warring GOP factions.

US stocks are on track for their worst week in more than a month as a stunning rebound in equities stalled amid growing concerns over America’s fiscal outlook.

S&P 500 contracts edged higher on Friday after three days of losses. The gauge remain on course for its worst weekly performance since the selloff following US President Donald Trump’s tariffs announcements at the beginning of April. The dollar fell 0.4% against a basket of currencies. Treasuries gained, with the 10-year yield dropping two basis points to 4.51%.

European stocks rose 0.3%, while a gauge for Asian equities is on track for a sixth straight week of gains.

China has asked the Netherlands to relax export restrictions related to semiconductors, Dutch Foreign Affairs Minister Caspar Veldkamp said following a meeting with officials in Beijing.

Semiconductors and “the policy regarding export controls and export licensing” are a “topic of continuous discussion,” Veldkamp told reporters Thursday after discussions with his Chinese counterpart Wang Yi.

Asked whether China requested an easing of such restrictions, Veldkamp said “always of course, that’s in their interest.” He added that national security concerns and autonomous licensing decision making remain in the Netherlands’ interest.

Germany’s economy grew twice as much as initially estimated at the start of 2025 as consumers and businesses increased spending and trade surged in anticipation of US tariffs.

Gross domestic product rose 0.4% in the first quarter, the statistics office said Friday, revising a preliminary reading for 0.2% growth.

Private consumption jumped 0.5% from the previous quarter and investment rose 0.9%, while inventories were a drag. Net trade contributed 0.9 percentage point to growth. A breakdown for the entire 20-nation euro zone is due on June 6.

The robust performance of two major Hong Kong stock listings this week has raised hopes that a small group of elite Chinese companies may start driving a shift to end the city’s historical discount to mainland markets.

The latest addition to the cohort is Jiangsu Hengrui Pharmaceuticals Co., China’s largest drugmaker by market value, which surged as much as 37% in its trading debut Friday in the Asian financial hub after raising HK$9.9 billion ($1.3 billion). The company’s H-shares briefly commanded a 0.3% premium over its Shanghai-listed A-shares, before reverting to a discount of 4%.

This comes after battery giant Contemporary Amperex Technology Co.’s $5.2 billion’s initial public offering in the city, the world’s biggest listing this year. Its shares have soared 23% since its Tuesday debut and are around 10% pricier than its Shenzhen-listed stock.

Borrowers are finding a silver lining in this week’s surge in Japanese bond yields with higher rates attracting credit investors.

At least 10 issuers including drinks producers Kirin Holdings Co. and Suntory Holdings Ltd., as well as real estate company Mitsui Fudosan Co. and the Republic of Indonesia rushed to the market Friday. They priced more than ¥530 billion ($3.7 billion) of bonds in total, with maturities of mainly 10 years or less, in one of the busiest days this year.

The string of bond deals came after Japanese bond yields, especially for the longest tenors, moved sharply higher this week and made the offerings more attractive to investors. Some of the borrowers are returning to the market after delaying or canceling their planned deals in April as US tariffs rocked markets.

Singapore’s key inflation gauge accelerated for the first time since September driven by an increase in healthcare, education and food prices.

The core inflation rate, which excludes housing and private transportation costs, stood at 0.7% in April from a year earlier, compared with 0.5% in March, according to a statement by the Department of Statistics Singapore. That’s also higher than the median estimate of 0.5% in a Bloomberg News survey of analysts and ends six straight months of deceleration.

Overall inflation rate held steady at 0.9% last month, higher than the 0.8% median estimate. The annual healthcare inflation rate was 2.5% in April, higher than the 1.8% in March. Food prices increased 1.4% in April from a year ago while education climbed 0.5%.

US President Donald Trump initiated a phone call with Japanese Prime Minister Shigeru Ishiba and discussed tariffs in general terms, just as Tokyo’s top negotiator left for the US for another round of trade talks.

Trump didn’t say anything specific about tariffs while Ishiba reiterated Japan’s existing stance over the levies during a 45-minute meeting, the prime minister told reporters on Friday in Tokyo. The two agreed they’re looking forward to meeting in person at a Group of Seven leaders’ gathering in June in Canada, Ishiba said.

The phone call between the two leaders was the first since early April when the US ramped up its tariffs against nations around the world including Japan. The call signaled the Asian nation still has the attention of the president while it appears to be falling behind other countries in striking a trade deal. Ishiba said Japan will keep seeking a removal of the additional US levies.

Nissan Motor Co. has said job cuts it announced as part of a broader restructuring at the company could cost an additional ¥60 billion ($418 million) this fiscal year.

The estimate on expense that will be incurred to eliminate jobs was shared with analysts by Chief Financial Officer Jeremie Papin earlier this month, a transcript of the call published Friday showed. The additional costs will be reflected in the current fiscal year that began April 1, according to the filing.

The ailing carmaker had vowed to cut 20,000 jobs and shutter seven of its 17 factories after reporting a net loss of $4.5 billion during the financial year that ended in March. While the job losses and plant closures will include domestic operations, it hasn’t been decided yet where they’ll be made, the filing cited Papin as saying.

Brazil’s Finance Ministry scrapped plans to tax transfers to offshore funds only hours after the announcement of the levy led to a selloff in the currency.

In a post on X just after 11:30 p.m. local time, the ministry said it had concluded after “dialogue and technical evaluation” that the tax known as IOF would return to zero for the transfers. That compared with the 3.5% rate it had announced earlier.

The reversal came after an emergency meeting in the ministry where officials debated how to calm investor fears over the tax plan they had just announced earlier in the evening, according to a person familiar with the matter. Other elements of the package detailed Thursday, including a higher tax on remittances, remain intact thus far.NewsLive TVMarketPopular CategoriesCalculatorsTrending NowLet's Connect with CNBCTV 18Network 18 Group :©TV18 Broadcast Limited. All rights reserved.