US stock futures rose after the Kremlin confirmed that Presidents Vladimir Putin and Donald Trump will meet for a summit in the coming days, raising hopes for a truce in Russia’s war with Ukraine.
Contracts for the S&P 500 and Nasdaq 100 added 0.7%. Apple Inc. shares rose in premarket trading after announcing a $100 billion investment that could spare the company from President Donald Trump’s threatened tariffs on chip imports. Apple suppliers, including Corning Inc.
The dollar index fell for the fifth day in a row, its longest streak in nearly four months, while the euro rose to a session high. Yields on 10-year Treasury bonds remained stable. Oil pared gains.
The Stoxx Europe 600 index rose more than 0.8%, offsetting losses caused by last week’s disappointing US labor market data. The travel and leisure sector performed best. A basket of stocks of companies with interests in Ukraine rose, while defense stocks fell. Optimistic financial results from some of the region’s largest companies helped improve sentiment, even as industrial production in Germany suffered its biggest drop in nearly a year, dealing another blow to Europe’s largest economy.
“A peaceful resolution to the conflict between Russia and Ukraine should have a positive impact on European consumers and risk sentiment, and a negative impact on oil prices,” said Mohit Kumar, chief economist and strategist at Jefferies International Ltd. “Among the sectors that will benefit from this are European consumers, growth-sensitive sectors, and construction-related sectors.”
Market sentiment improved earlier after Trump announced that companies manufacturing goods in the US, such as Apple, would be eligible for exemptions from his proposed 100% tariff on chip imports. Growing speculation about a Federal Reserve interest rate cut is also supporting optimism in stock markets, as new tariffs aimed at reshaping global trade officially took effect on Thursday.
Eli Lilly & Co. shares fell after the pharmaceutical company released disappointing results from trials of its weight-loss drug
DoorDash Inc. jumped in premarket trading after releasing a third-quarter order forecast that beat Wall Street expectations
Paycom Software Inc. rose after raising its full-year revenue forecast
Fortinet Inc. fell after the software company released updated information about its firewall update cycle
Airbnb Inc. declined on weak growth forecasts
German defense company Rheinmetall AG fell after missing analysts’ forecasts for operating profit as orders from Germany and other European countries that have increased defense spending have not yet materialized.
Deutsche Telekom AG fell after reporting second-quarter results that showed weak performance in Germany, its largest market.
Siemens AG rose after reporting higher revenue and orders in the third fiscal quarter.
Allianz SE, a German insurance company that owns bond management company Pacific Investment Management Co., rose after second-quarter profit growth on the back of better results in the property and casualty insurance segment and an inflow of funds at Pimco.
Shares of A. P. Moller-Maersk A/S, a global trade leader, rose after the company raised its financial forecast for 2025, saying demand outside North America is “resilient” even amid concerns about a trade war.
Sandoz Group AG
rose after the Swiss pharmaceutical company reported better-than-expected results.
On Wednesday evening in the US, Trump said that the US would impose “a tariff of approximately 100% on microchips and semiconductors.”
He added: “But if you build in the United States of America, there will be no tariffs.” These comments came after Apple CEO Tim Cook, alongside Trump in the Oval Office, announced a $100 billion investment plan.
Later on Thursday, the Bank of England is expected to cut rates. The pound rose slightly against the dollar, while the UK’s benchmark stock index fell.
Meanwhile, three Fed officials expressed concern about the US labor market on Wednesday, noting that interest rates could be cut in September.
San Francisco Fed President Mary Daly said policymakers would likely have to adjust interest rates in the “coming months” to prevent further deterioration in the employment situation.
Data released last week pointed to a sharp cooling of the labor market over the past few months. Policymakers left rates unchanged at the end of July, and the next meeting will take place in September. After that, they will hold two more meetings in 2025.
Traders are awaiting weekly jobless claims data, due out on Thursday, for more insight into the state of the US labor market.
Separately, Trump said he would likely appoint a temporary Fed governor to fill the vacant seat on the central bank’s board in the coming days, rather than using the seat to demonstrate his choice to replace Jerome Powell as chairman.
At the same time, China’s export growth unexpectedly accelerated last month, reaching its highest level since April. Foreign supplies remained stable despite high tariffs imposed by the US. Chinese stocks remained unchanged.
In other tariff news, the US also imposed an additional 25% tariff on Indian goods, effectively doubling the rate announced a few days ago. Indian stocks fell.
Some key market developments:
Source: https://www.bloomberg.com/news/articles/2025-08-06/stock-market-today-dow-s-p-live-updates
