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Global equity markets were mixed Monday as investors await key US inflation data this week that could offer guidance on interest rate cuts long sought by President Donald Trump.Reports that semiconductor giants Nvidia and AMD would give Washington a 15-percent cut of the revenue from certain chip sales to China also bolstered expectations of a further pause on higher US tariffs against Beijing.On Monday afternoon, US media reported that Trump had signed an order to delay the reimposition of steeper tariffs on Chinese products by another 90 days, citing Trump administration officials.The White House did not respond to queries on the matter.For now, it appears that investors are awaiting new US consumer price index figures. Adam Sarhan of 50 Park Investments warned that a cooler than expected reading could still be “a double-edged sword.”While a lower inflation reading would give the Fed room to cut rates, on the other hand, “it’s not bullish because that means the economy’s slowing,” he added.Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and ease tough Western sanctions against Moscow.London’s FTSE 100 index edged higher but Paris and Frankfurt closed lower, pulled down in particular by defense stocks as investors calculated the chances of an end to the Ukraine war.Major Wall Street indices closed lower.”Markets are bracing for a surprisingly busy week, with several key events and data releases likely to shape sentiment,” notably US inflation, said Jim Reid, managing director at Deutsche Bank.  Investors have ramped up their bets the Fed will lower borrowing costs at its next policy meeting in September following a series of reports — particularly on jobs — indicating weakening in the world’s biggest economy.Stocks in Hong Kong and Shanghai rose on Monday, while Tokyo was closed for a public holiday.Gold futures retreated after hitting a record high Friday, when a letter released by US customs authorities signaled the precious metal should also be subject to new US duties.But Trump said Monday that gold would not face additional tariffs.In company news, Nvidia and AMD shared both closed lower.Elsewhere, shares in Danish renewable energy firm Orsted plunged 30 percent in Copenhagen as the company said it would raise $9.4 billion by selling new shares.The company added that it dropped plans to sell a stake in its Sunrise Wind project over Trump’s decision to freeze federal permitting and loans for all offshore and onshore wind projects.- Key figures at around 2030 GMT -New York – Dow: DOWN 0.5 percent at 43,975.09 points (close)New York – S&P 500: DOWN 0.3 percent at 6,373.45 (close)New York – Nasdaq: DOWN 0.3 percent at 21,385.40 (close)London – FTSE 100: UP 0.4 percent at 9,129.71 (close)Paris – CAC 40: DOWN 0.6 percent at 7,698.52 (close)Frankfurt – DAX: DOWN 0.3 percent at 24,081.34 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 24,906.81 (close)Shanghai – Composite: UP 0.3 percent at 3,647.55 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.1617 from $1.1643Pound/dollar: DOWN at $1.3435 from $1.3451 on FridayDollar/yen: UP at 148.12 yen from 147.79 yenEuro/pound: DOWN at 86.47 pence from 86.54 penceBrent North Sea Crude: UP 0.1 percent at $66.63 per barrelWest Texas Intermediate: UP 0.1 percent at $63.96 per barrelburs-ajb-bys/sla

US President Donald Trump reportedly signed an order delaying the reimposition of higher tariffs on Chinese goods on Monday, hours before a trade truce between Washington and Beijing was due to expire.The halt on steeper tariffs will be in place for another 90 days, the Wall Street Journal and CNBC reported, citing Trump administration officials. The White House did not respond to queries on the matter.While the United States and China slapped escalating tariffs on each other’s products this year, reaching prohibitive triple-digit levels and snarling trade, both countries in May agreed to temporarily lower them.But their 90-day halt of steeper levies was due to expire Tuesday.Asked about the deadline earlier Monday, Trump said: “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”Trump also touted the tariff revenue his country has collected since his return to the White House, saying “we’ve been dealing very nicely with China.””We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state,” Chinese foreign ministry spokesman Lin Jian said in a statement.He added that Beijing also hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit.”The full text of Trump’s latest order has yet to be released. The 90-day extension means the truce is set to expire in early November, according to the Wall Street Journal.- Shaky truce -Even as both countries reached a pact to cool tensions after high level talks in Geneva in May, the de-escalation has been shaky.In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers met again in Stockholm last month.US trade envoy Jamieson Greer said last month that Trump will have the “final call” on any such extension.Trump said in a social media post late Sunday that he hoped China will “quickly quadruple its soybean orders,” adding that this would be a way to balance trade with the United States.For now, the extension of a truce means that US tariffs on Chinese goods this year stand at 30 percent.Under their de-escalation, Beijing’s corresponding levy on US products stood at 10 percent.Since returning to the presidency in January, Trump has slapped a 10-percent “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair. This surged to varying steeper levels last Thursday for dozens of economies.Major partners like the European Union, Japan and South Korea now see a 15-percent US duty on many products, while the level went as high as 41 percent for Syria.The “reciprocal” tariffs exclude sectors that have been separately targeted, such as steel and aluminum, and those that are being investigated like pharmaceuticals and semiconductors.They are also expected to exclude gold, although a clarification by US customs authorities made public last week caused concern that certain gold bars might still be targeted.Trump on Monday said that gold imports will not face additional tariffs, without providing further details.The US president has taken separate aim at individual countries such as Brazil over the trial of former president Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.Canada and Mexico come under a different tariff regime.

President Donald Trump said Monday that the United States has been “dealing very nicely with China” — while Beijing said it was seeking positive outcomes — hours before a tariff truce between both countries was due to expire.While the United States and China slapped escalating tariffs on each other’s products this year, reaching prohibitive triple-digit levels and snarling trade, both countries in May agreed to temporarily lower them.But their 90-day halt in steeper levies is due to expire Tuesday, and all eyes are now on a path forward.Asked about the deadline on Monday, Trump said: “We’ll see what happens. They’ve been dealing quite nicely. The relationship is very good with President Xi (Jinping) and myself.”Trump also touted the tariff revenue his country has collected this year, saying “we’ve been dealing very nicely with China.””We hope that the US will work with China to follow the important consensus reached during the phone call between the two heads of state,” said Chinese foreign ministry spokesman Lin Jian in a statement.He added that Beijing also hopes Washington will “strive for positive outcomes on the basis of equality, respect and mutual benefit.”- Shaky truce -Although both sides reached a pact to de-escalate tensions after high level talks in Geneva in May, their truce has been shaky.In June, key economic officials convened in London as disagreements emerged and US officials accused their counterparts of violating the pact. Policymakers again met in Stockholm last month.Even as both countries appeared to be seeking to push back the reinstatement of duties, US trade envoy Jamieson Greer said last month that Trump will have the “final call” on any such extension.Last week, US Commerce Secretary Howard Lutnick said in an interview that it is likely Trump will further the pause by another 90 days.The White House did not respond to queries about the matter on Monday.Trump said in a social media post late Sunday that he hoped China will “quickly quadruple its soybean orders,” adding that this would be a way to balance trade with the United States.For now, fresh US tariffs on Chinese goods this year stand at 30 percent, while Beijing’s corresponding levy on US products is at 10 percent.Since returning to the presidency in January, Trump has slapped a 10-percent “reciprocal” tariff on almost all trading partners, aimed at addressing trade practices Washington deemed unfair. This surged to varying, steeper levels last Thursday for dozens of economies.Major partners like the European Union, Japan and South Korea now see a 15-percent US duty on many products, while the level went as high as 41 percent for Syria.The “reciprocal” tariffs exclude sectors that have been separately targeted, such as steel and aluminum, and those that are being investigated like pharmaceuticals and semiconductors.Trump has also taken separate aim at individual countries such as Brazil over the trial of former president Jair Bolsonaro, who is accused of planning a coup, and India over its purchase of Russian oil.Canada and Mexico come under a different tariff regime.

President Donald Trump on Monday confirmed reports that semiconductor giant Nvidia would pay the United States 15 percent of its revenues from sales of certain artificial intelligence chips to China.Speaking to reporters at the White House, Trump argued that Nvidia’s “H20” chips are “obsolete,” despite previously being targeted for export restrictions.He said that to lift the restrictions, he had agreed to a 15-percent cut from Nvidia: “If I’m going to do that, I want you to pay us as a country something, because I’m giving you a release. I released them only from the H20.”The California-based company produces some of the world’s most advanced semiconductors but cannot ship its most cutting-edge chips to China due to concerns that Beijing could use them to enhance military capabilities.Nvidia developed the H20 — a less powerful version of its AI processing units — specifically for export to China. That plan stalled when the Trump administration tightened export licensing requirements in April.Nvidia CEO Jensen Huang met with Trump at the White House last week and agreed to give the federal government the cut from its revenues, a highly unusual arrangement in the international tech trade, according to reports in the Financial Times, Bloomberg and New York Times.”While we haven’t shipped H20 to China for months, we hope export control rules will let America compete in China and worldwide,” a Nvidia spokesperson told AFP.The company spokesperson added: “America cannot repeat 5G and lose telecommunication leadership. America’s AI tech stack can be the world’s standard if we race.” Investors are betting that AI will transform the global economy, and last month Nvidia — the world’s most valuable company and a leading designer of high-end AI chips — became the first company ever to hit $4 trillion in market value.The firm has, however, become entangled in trade tensions between China and the United States, which are waging a heated battle for dominance to produce the chips that power AI.’Political tariff’The United States has been restricting which chips Nvidia can export to China on national security grounds.After Huang’s meeting with Trump, the Commerce Department on Friday started granting the licenses for chip sales, according to media reports.Silicon Valley-based AMD will also pay 15 percent of revenue on Chinese sales of its MI308 chips, which it was previously barred from exporting to the country.AMD did not respond to requests for comment.The move comes as the Trump administration has been imposing stiff tariffs, with goals varying from addressing US trade imbalances, wanting to reshore manufacturing, and pressuring foreign governments to change policies.A 100 percent tariff on many semiconductor imports came into effect last week, with exceptions for tech companies that announce major investments in the United States.”It’s a political tariff in everything but name, brokered in the shadow of heightened US-China tech tensions,” Stephen Innes of SPI Asset Management said. 

Equity markets moved little in cautious European and US trading Monday as investors await key US inflation data this week that could offer guidance on rate cuts long sought by President Donald Trump.Reports that chip giants Nvidia and AMD would give Washington a 15-percent cut of the revenue from AI sales to China also bolstered expectations of a new pause on Washington’s tariffs against China.”The market seems very relaxed ahead of tomorrow’s deadline on US-China trade talks, reflecting the assumption an extension is in the offing and a deal will eventually be reached,” said AJ Bell investment director Russ Mould.Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and ease tough Western sanctions against Moscow.London’s FTSE 100 index edged higher but Paris and Frankfurt closed lower, pulled down in particular by defence stocks as investors calculated the chances of an end to the Ukraine war.The key Wall Street indices came under moderate pressure after the Nasdaq climbed to another record high on Friday, bolstered by solid earnings from tech giants in particular.”Markets are bracing for a surprisingly busy week, with several key events and data releases likely to shape sentiment,” notably US inflation, said Jim Reid, managing director at Deutsche Bank.  The US consumer price index on Tuesday could provide grist for Trump’s campaign against Federal Reserve chief Jerome Powell.Powell has been in the president’s crosshairs over his refusal to cut interest rates while awaiting the impact of Trump’s tariffs blitz on the economy.But investors have ramped up their bets the Fed will lower borrowing costs at its September meeting following a series of reports — particularly on jobs — indicating the world’s biggest economy was slowing.Stocks in Hong Kong and Shanghai rose on Monday, while Tokyo was closed for a public holiday.Gold futures retreated after hitting a record high Friday following reports of an unexpected US tariff on gold bars from Switzerland.In company news, Nvidia and AMD advanced on the reports they had agreed to pay Washington 15 percent of AI chip sales to China.US officials had blocked the sale of the cutting-edge chips citing security concerns, which both companies had warned would deprive them of massive profits.Investors are betting that AI will transform the global economy, and last month Nvidia, the world’s largest semiconductor producer, became the first company to hit $4 trillion in market value.Elsewhere, shares in Danish renewable energy firm Orsted plunged 30 percent in Copenhagen as the company said it would raise $9.4 billion by selling new shares.The company added that it dropped plans to sell a stake in its Sunrise Wind project over Trump’s decision to freeze federal permitting and loans for all offshore and onshore wind projects.- Key figures at around 1600 GMT -New York – Dow: DOWN 0.3 percent at 44,052.71 pointsNew York – S&P 500: FLAT at 6,392.60New York – Nasdaq: UP 0.2 percent at 21,496.75London – FTSE 100: UP 0.4 percent at 9,129.71 (close)Paris – CAC 40: DOWN 0.6 percent at 7,698.52 (close)Frankfurt – DAX: DOWN 0.3 percent at 24,081.34 (close)Hong Kong – Hang Seng Index: UP 0.2 percent at 24,906.81 (close)Shanghai – Composite: UP 0.3 percent at 3,647.55 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.1608 from $1.1643Pound/dollar: DOWN at $1.3417 from $1.3451 on FridayDollar/yen: UP at 147.97 yen from 147.79 yenEuro/pound: DOWN at 86.52 pence from 86.54 penceBrent North Sea Crude: FLAT at $66.57 per barrelWest Texas Intermediate: FLAT percent at $63.88 per barrelburs-ajb/js/kjm

Equity markets moved little in cautious European and US trading Monday as investors braced for key US inflation data this week that could offer guidance on rate cuts long sought by President Donald Trump.Reports that chip giants Nvidia and AMD would give Washington a 15 percent cut of the revenue from AI sales to China also bolstered expectations of a new pause on Washington’s tariffs against China.”The market seems very relaxed ahead of tomorrow’s deadline on US-China trade talks, reflecting the assumption an extension is in the offing and a deal will eventually be reached,” said AJ Bell investment director Russ Mould.Also in view is a high-stakes summit between Trump and Russian President Vladimir Putin on Friday in Alaska, which could pave the way for a Ukraine ceasefire and potentially ease tough Western sanctions against Moscow.London’s FTSE 100 index edged up in afternoon trading but Paris and Frankfurt were lower, pulled down in particular by defence stocks as investors calculated the chances of an end to the Ukraine war.The key Wall Street indices were flat after the Nasdaq climbed to another record high on Friday, bolstered by solid earnings from tech giants in particular.”Markets are bracing for a surprisingly busy week, with several key events and data releases likely to shape sentiment,” notably US inflation, said Jim Reid, managing director at Deutsche Bank.  The US consumer price index on Tuesday could provide grist for Trump’s campaign against Federal Reserve chief Jerome Powell.Powell has been in the president’s crosshairs over his refusal to cut interest rates while awaiting the impact of Trump’s tariffs blitz on the economy.Investors have ramped up their bets the Fed will lower borrowing costs at its September meeting following a series of reports — particularly on jobs — indicating the world’s biggest economy was slowing.Stocks in Hong Kong and Shanghai rose on Monday, while Tokyo was closed for a public holiday.Gold futures edged down after hitting a record high Friday following reports of an unexpected US tariff on gold bars from Switzerland.In company news, Nvidia and AMD retreated from recent gains on the reports they will had agreed to pay Washington 15 percent of AI chip sales to China.US officials had blocked the sale of the cutting-edge chips citing security concerns, which both companies had warned would deprive them of millions in profit.Investors are betting that AI will transform the global economy, and last month Nvidia, the world’s largst semiconductor producer, became the first company to hit $4 trillion in market value.Elsewhere, shares in Danish renewable energy firm Orsted plunged 31 percent in Copenhagen as the company said it would raise $9.4 billion by selling new shares.The company dropped plans to sell a stake in its Sunrise Wind project over Trump’s decision to freeze federal permitting and loans for all offshore and onshore wind projects.- Key figures at around 1400 GMT -New York – Dow: FLAT at 44,193.36 pointsNew York – S&P 500: UP 0.1 percent at 6,394.84New York – Nasdaq: FLAT at 21.463.17London – FTSE 100: UP 0.4 percent at 9,128.88Paris – CAC 40: DOWN 0.4 percent at 7,715.00Frankfurt – DAX: DOWN 0.4 percent at 24,073.10Hong Kong – Hang Seng Index: UP 0.2 percent at 24,906.81 (close)Shanghai – Composite: UP 0.3 percent at 3,647.55 (close)Tokyo – Nikkei 225: Closed for a holidayEuro/dollar: DOWN at $1.1617 from $1.1643Pound/dollar: DOWN at $1.3419 from $1.3451 on FridayDollar/yen: UP at 147.94 yen from 147.79 yenEuro/pound: UP at 86.57 pence from 86.54 penceBrent North Sea Crude: UP 0.3 percent at $66.86 per barrelWest Texas Intermediate: UP 0.3 percent at $64.18 per barrelburs-ajb/bcp/js/lth

Equity markets mostly rose Monday as investors eyed a week dominated by speculation about US inflation data and a prolonged pause for Washington’s tariffs on China.Observers expect Donald Trump to announce an extension of a trade war truce reached with China last month, ahead of a 90-day deadline set for Tuesday.Meanwhile, a key US consumer price index report is set up for Tuesday and could shape future policy decisions by the Federal Reserve, which has come under increasing pressure from the president to cut rates.Investors have ramped up their bets on the central bank lowering borrowing costs at its next meeting in September following a series of reports — particularly on jobs — indicating the world’s number one economy was slowing.Also in view is a high-stakes summit between Trump and Russian counterpart Vladimir Putin on Friday in Alaska, which could pave the way for a deal to resolve the Ukraine war that involves an easing of tough sanctions on Moscow.The prospect of a breakthrough at the meeting added to downward pressure on oil prices, which was already falling on the back of economy worries and a bump in output from OPEC and other key producers.Stocks in Hong Kong, Shanghai, Sydney, Wellington, Taipei, Mumbai and Jakarta rose, though there were losses in Seoul, Singapore and Manila. Tokyo was closed for a public holiday.London advanced in the morning but Paris and Frankfurt edged down.With Tuesday’s US-China tariff truce deadline looming, investors are bullish about the prospects of another extension.”The market has fully subscribed to the high probability of the tariff truce being rolled over for another 90 days,” said Chris Weston of Pepperstone.”As such, unless diplomatic talks fully break down, news of extension shouldn’t move markets too intently,” he added.Gold futures edged down after hitting a record high Friday, following reports of an unexpected tariff on the precious metal.Despite protracted uncertainty about trade, investors remain optimistic about artificial intelligence — an area of fierce competition between Beijing and Washington.Reports Monday said that US chip giants Nvidia and Advanced Micro Devices (AMD) had agreed to pay Washington 15 percent of their revenue from selling AI chips to China.Investors are betting that AI will transform the global economy, and last month Nvidia — the world’s leading semiconductor producer — became the first company ever to hit $4 trillion in market value.- Key figures at 0810 GMT -Hong Kong – Hang Seng Index: UP 0.2 percent at 24,906.81 (close)Shanghai – Composite: UP 0.3 percent at 3,647.55 (close)London – FTSE 100: UP 0.2 percent at 9,113.29Tokyo – Nikkei 225: Closed for a holidayPound/dollar: UP at $1.3454 from $1.3451 on FridayEuro/dollar: UP at $1.1648 from $1.1643Dollar/yen: DOWN at 147.38 yen from 147.79 yenEuro/pound: UP at 86.58 pence from 86.54 penceWest Texas Intermediate: DOWN 1.1 percent at $63.20 per barrelBrent North Sea Crude: DOWN 0.9 percent at $65.98 per barrelNew York – Dow: UP 0.5 percent at 44,175.61 (close)

Indonesia and Peru sealed a trade agreement Monday as their leaders met in Jakarta, with Southeast Asia’s biggest economy looking to make inroads into South American markets.The agreement comes after US President Donald Trump recently imposed a tariff rate of 19 percent on imports from Indonesia under a new pact.Peruvian President Dina Boluarte was greeted by a marching band and national anthems at a ceremony at the presidential palace in the Indonesian capital before talks.Indonesian President Prabowo Subianto said the leaders then witnessed the signing of the trade pact, dubbed a Comprehensive Economic Partnership Agreement (CEPA), which will deepen ties between the two nations after he visited Lima last year.”This agreement will expand market access and boost trade activity between the two countries,” Prabowo said after their meeting.”Normally, this agreement would have taken years, but Indonesia and Peru managed to finalise this agreement within 14 months.”They agreed to boost cooperation in fields including defence, narcotics, food security, energy, fisheries and mining, he said, without providing details.In 2024 Indonesian exports to Peru were worth $329.4 million while Peru’s exports to Indonesia amounted to $149.6 million, according to trade ministry data.Boluarte’s trip was a reciprocal visit after Prabowo travelled to Peru in November for the APEC Summit.Indonesia’s trade minister said before Boluarte’s state visit that the economic deal would allow Indonesian goods to enter markets in Central and South America.Boluarte, 63, is a highly unpopular leader at home and has faced protests against an explosion of gang violence.Her approval rating hovered around 2 percent in May.

Asian markets mostly rose Monday as investors eyed a week dominated by speculation about US inflation data and a prolonged pause for Washington’s tariffs on China.Observers expect Donald Trump to announce an extension of a trade war truce reached with China last month, ahead of a 90-day deadline due to expire Tuesday.Meanwhile, a key US consumer price index report is set up for Tuesday and could shape future policy decisions by the Federal Reserve, which has come under increasing pressure from the president to cut rates.Investors have ramped up their bets on the central bank lowering borrowing costs at its next meeting in September following a series of reports — particularly on jobs — indicating the world’s number one economy was slowing.Also in view is a high-stakes summit between Trump and Russian counterpart Vladimir Putin on Friday in Alaska, which could pave the way for a deal to resolve the Ukraine war that involves an easing of tough sanctions on Moscow.In early trade, Hong Kong, Shanghai, Sydney, Seoul, Wellington, Taipei and Jakarta all rose though there were losses in Singapore and Manila. Tokyo was closed for a public holiday.With Tuesday’s US-China tariff truce deadline looming, investors are bullish about the prospects of another extension.”The market has fully subscribed to the high probability of the tariff truce being rolled over for another 90 days” said Chris Weston of Pepperstone.”As such, unless diplomatic talks fully break down, news of extension shouldn’t move markets too intently,” he added.Gold futures edged down after hitting a record high Friday following reports of an unexpected tariff on the precious metal.Despite protracted uncertainty about trade, investors remain optimistic about artificial intelligence — an area of fierce competition between Beijing and Washington.Reports Monday said that US chip giants Nvidia and Advanced Micro Devices (AMD) had agreed to pay Washington 15 percent of their revenue from selling AI chips to China.Investors are betting that AI will transform the global economy, and last month Nvidia — the world’s leading semiconductor producer — became the first company ever to hit $4 trillion in market value.- Key figures at 0300 GMT -Hong Kong – Hang Seng Index: UP 0.2 percent at 24,896.02Shanghai – Composite: UP 0.3 percent at 3,644.73Tokyo – Nikkei 225: Closed for a holidayPound/dollar: UP at $1.3457 from $1.3451 on FridayEuro/dollar: UP at $1.1667 from $1.1643Dollar/yen: DOWN at 147.56 yen from 147.79 yenEuro/pound: UP at 86.70 pence from 86.54 penceWest Texas Intermediate: DOWN 0.6 percent at $63.50 per barrelBrent North Sea Crude: DOWN 0.5 percent at $66.27 per barrelNew York – Dow: UP 0.5 percent at 44,175.61 (close)London – FTSE 100: DOWN 0.1 percent at 9,095.73 (close)

Gold futures hit a record high Friday following reports of an unexpected tariff on the precious metal as global stocks finished the week on a mixed note.Wall Street enjoyed a sunny Friday led by the tech-rich Nasdaq Composite Index, which posted a second straight record, part of a buoyant session in New York amid optimism over artificial intelligence and less uncertainty over trade policy.Investors are growing confident that President Donald Trump’s constantly-changing US trade policy won’t derail the surge in investment around artificial intelligence.”Part of the relief was that the tariffs on a very important sector around the US outlook on earnings, which is tech and AI, is mostly left unaffected,” said Angelo Kourkafas, senior global investment strategist at Edward Jones.Apple, which pledged increased US investment at a White House meeting this week, won 4.2 percent, its third straight significant gains. Nvidia and Google parent Alphabet also advanced.Gold futures shot to a new all-time intraday high at $3,534.10 an ounce after the Financial Times reported that Washington had classified one-kilo bars, the most traded type of bullion on Comex — the world’s biggest futures market, as subject to “reciprocal” tariff rates.One-kilo bars make up the largest part of Switzerland’s gold shipments to the United States. Imports from Switzerland face a 39-percent reciprocal tariff from Thursday. The FT said 100-ounce bars would also face the levy.The levy caused “shock and confusion” in markets, said Han Tan, chief market analyst at Nemo.money trading group. After hitting the high, the gold future price later pulled back to around $3,454 an ounce.A White House official told AFP that the Trump administration plans to “issue an executive order in the near future clarifying misinformation about the tariffing of gold bars and other specialty products.”In European trading, both London’s FTSE 100 and Frankfurt dipped, while Paris stocks edged higher.Japanese stocks led the way on a mostly negative day for Asian markets, fueled by relief that Tokyo and Washington had settled a tariff issue that raised concerns about their trade deal.”Since the tariff agreement between the US and the European Union, some clarity has emerged, but confusion around its implementation is just beginning to surface,” said Jochen Stanzl, chief market analyst at CMC Markets.”In Japan, there is relief today upon hearing that the various tariffs will not be cumulative,” he added.The Nikkei 225 stocks index jumped nearly two percent after Japan’s tariffs envoy said Washington was expected to revise an executive order that stacked tariffs on top of each other.”However, it remains unclear whether the same rules apply for Japan and the EU,” Stanzl added.- Key figures at around 2030 GMT -New York – Dow: UP 0.5 percent at 44,175.61 (close)New York – S&P 500: UP 0.8 percent at 6,389.45 (close)New York – Nasdaq Composite: UP 1.0 percent at 21,450.02 (close)London – FTSE 100: DOWN 0.1 percent at 9,095.73 (close)Paris – CAC 40: UP 0.4 percent at 7,743.00 (close)Frankfurt – DAX: DOWN 0.1 percent at 24,162.86 (close)Tokyo – Nikkei 225: UP 1.9 percent at 41,820.48 (close)Hong Kong – Hang Seng Index: DOWN 0.9 percent at 24,858.82 (close)Shanghai – Composite: DOWN 0.1 percent at 3,635.13 (close)Pound/dollar: UP at $1.3451 from $1.3444 on ThursdayEuro/dollar: DOWN at $1.1643 from $1.1666Dollar/yen: UP at 147.79 yen from 147.14 yenEuro/pound: DOWN at 86.54 pence from 86.77 penceBrent North Sea Crude: UP 0.2 percent at $66.59 per barrelWest Texas Intermediate: FLAT at $63.88 per barrelburs-jmb/sla