Investing.com-- BYD’s Hong Kong shares soared to a record high on Friday, extending a recent winning spree after a report said the Chinese electric vehicle giant outsold rival Tesla (NASDAQ:TSLA) Inc for the first time in Europe.
The Senate, in reviewing Trump’s tax bill, could still make changes to the carried interest loophole.
Asian stocks rose early Friday as U.S. Treasury yields eased after a rocky week due to worries in the bond market over mounting U.S. government debt. The yield of the 10-year Treasury shed 0.6% to 4.52% while the two-year yield, which more closely tracks expectations for action by the Federal Reserve, slipped 0.4% to 3.98%. Oil prices dropped on expectations that the OPEC+ group of oil exporters may decide on another increase in output at their next meeting.
SINGAPORE (Reuters) -The U.S. dollar was weaker on Friday, poised to make its first weekly drop in five weeks against the euro and the yen as worries over the United States' worsening fiscal health sent investors scurrying for safe havens. After Moody's last week downgraded its U.S. debt ratings, investor attention this week has honed in on the country's $36 trillion debt pile and U.S. President Donald Trump's tax bill that could add trillions of dollars more to it. Dubbed by Trump as a "big, beautiful bill", it narrowly passed Republican-controlled U.S. House of Representatives and now heads to the Senate for what is likely to be weeks of debate, keeping investor sentiment fragile in the near term.
SYDNEY (Reuters) -Asian shares gained on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump's tax bill narrowly passed the lower house, although debt worries still dominated. Nasdaq futures and S&P 500 futures were both flat. The Republican-controlled U.S. House voted by a slim margin to pass Trump's tax cut bill, which would fulfil many of his campaign pledges, but will increase the $36.2 trillion U.S. debt pile by $3.8 trillion over the next decade.
SINGAPORE (Reuters) -Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July. Brent futures fell 48 cents, or 0.8%, to $63.96 a barrel by 0635 GMT. Both contracts touched their lowest in more than one week on Thursday after a Bloomberg News report that OPEC+ was considering another large production increase at a meeting on June 1.
Investing.com-- Japanese consumer price index inflation grew more than expected in April after a bumper springtime wage hike helped boost private spending and offset headwinds from higher U.S. trade tariffs.
Shorting stocks has been a coin-flip in 2025, with almost 50% of short positions unprofitable this year, S3 Partners said.
Data from the British Retail Consortium shows consumers are more optimistic about the economy, but retail spending expectations have dipped slightly.
US stock futures were at a standstill as Wall Street looked forward to wrapping up a week marked by growing doubts about the economy's health under Trump's trade and tax agendas.