Market Update
U.S. Movers: Lennar Corp.
Scott Peters
17 Jun, 2025
New York City
Lennar Corp. gained 2.7% to $112.45 after the home builder reported results for the fiscal second quarter of 2025 ending on May 31, citing continued weakness in the market.
Revenue declined to $8.38 billion from $8.76 billion, net earnings edged down to $477.45 million from $954.31 million, and diluted earnings per share fell to $1.81 from $3.45 a year ago.
New orders increased 6% to 22,601 homes, bringing the backlog to 15,538 homes with a value of $6.5 billion.
New home deliveries increased 2% to 20,131 homes in the quarter from 19,690 homes a year earlier, and the average sales price of homes was $389,000, compared to $426,000 in the same quarter last year.
In the second quarter, the company repurchased 4.7 million shares of its stock for $517 million at an average share price of $109.79.
The home builder guided third-quarter new orders and deliveries to be between 22,000 and 23,000 and the average sales price to be between $380,000 and $385,000.
In comparison, new home deliveries in the third quarter of 2024 were 21,516, and the average sales price of homes delivered was $422,000.
The company also estimated financial services operating earnings to be between $175 million and $180 million in the third quarter, compared to $144 million a year earlier.
BOJ Holds Rates Steady, U.S.-Japan Trade Talks Stall
Akira Ito
17 Jun, 2025
Tokyo
Japan's stock market indexes advanced, and the Bank of Japan held rates as widely anticipated.
The Nikkei 225 Stock Average added 0.4%, and the broader Topix edged up 0.2%, tracking gains in overnight trading in New York.
Market sentiment was cautious after Japan's prime minister, Shigeru Ishiba, confirmed that differences remained with the U.S. over tariffs.
Japan's negotiators are now looking for a "package" deal that could pave the way for an agreement, but an additional tariff of 25% remains a sticky point.
Both sides agreed to extend discussions after talks on the sidelines of the G-7 meeting failed to produce an agreement.
Bank of Japan Held Rates Steady
The Bank of Japan held its overnight call rate at 0.5% at the end of its two-day meeting on Tuesday.
In a unanimous decision, the policy committee decided to leave rates unchanged, citing elevated geopolitical tensions and lingering uncertainty rooted in the U.S. trade policy.
Short-term interest rates remained at the highest level since 2008 and signaled its plans to adjust purchases of government bonds starting next April.
The Bank of Japan has been trimming its purchase of Japanese government bonds by 400 billion yen (or $2.8 billion) a quarter till the end of the March quarter, and slow purchases by 200 billion yen after.
Japan Indexes and Stocks
The Nikkei 225 Stock Average added 0.4% to 38,480.73, and the broader Topix gained 0.2% to 2,782.80.
In the year so far, the Nikkei 225 Stock Average is still down about 2%, but the broader Topix has risen above the flatline and advanced 1%.
Nippon Steel declined 3.3% to ¥2,777.0, and the company is scheduled to finalize its agreement to acquire U.S. Steel for about $14.9 billion.
After the purchase, Nippon Steel will be the largest steel company in the world, allowing it to increase its global competitiveness amid stiff price competition from Chinese steelmakers.
Nippon Steel and U.S. Steel are expected to finalize their "partnership" by June 18.
Shipping companies were in focus amid escalating tensions in the Middle East, and Iran threatened to close the Strait of Hormuz.
Nippon Yusen KK decreased 0.5% to ¥5,123.0, Kawasaki Kisen Kaisha Ltd. fell 1.4% to ¥2,057.50, and Mitsui O.S.K. Lines declined 1.3% to ¥4,927.0.
BOJ Holds Rates Steady, U.S.-Japan Tra
Akira Ito
17 Jun, 2025
Tokyo
Japan's stock market indexes advanced, and the Bank of Japan held rates as widely anticipated.
The Nikkei 225 Stock Average added 0.4%, and the broader Topix edged up 0.2%, tracking gains in overnight trading in New York.
Market sentiment was cautious after Japan's prime minister, Shigeru Ishiba, confirmed that differences remained with the U.S. over tariffs.
Japan's negotiators are now looking for a "package" deal that could pave the way for an agreement, but an additional tariff of 25% remains a sticky point.
Both sides agreed to extend discussions after talks on the sidelines of the G-7 meeting failed to produce an agreement.
Bank of Japan Held Rates Steady
The Bank of Japan held its overnight call rate at 0.5% at the end of its two-day meeting on Tuesday.
In a unanimous decision, the policy committee decided to leave rates unchanged, citing elevated geopolitical tensions and lingering uncertainty rooted in the U.S. trade policy.
Short-term interest rates remained at the highest level since 2008 and signaled its plans to adjust purchases of government bonds starting next April.
The Bank of Japan has been trimming its purchase of Japanese government bonds by 400 billion yen (or $2.8 billion) a quarter, but now the central bank plans to trim purchases by 200 billion yen.
Japan Indexes and Stocks
The Nikkei 225 Stock Average added 0.4% to 38,480.73, and the broader Topix gained 0.2% to 2,782.80.
In the year so far, the Nikkei 225 Stock Average is still down about 2%, but the broader Topix has risen above the flatline and advanced 1%.
Nippon Steel declined 3.3% to ¥2,777.0, and the company is scheduled to finalize its agreement to acquire U.S. Steel for about $14.9 billion.
After the purchase, Nippon Steel will be the largest steel company in the world, allowing it to increase its global competitiveness amid stiff price competition from Chinese steelmakers.
Nippon Steel and U.S. Steel are expected to finalize their "partnership" by June 18.
Shipping companies were in focus amid escalating tensions in the Middle East, and Iran threatened to close the Strait of Hormuz.
Nippon Yusen KK decreased 0.5% to ¥5,123.0, Kawasaki Kisen Kaisha Ltd. fell 1.4% to ¥2,057.50, and Mitsui O.S.K. Lines declined 1.3% to ¥4,927.0.
China Stocks Struggle Amid Rising Risk of Rebound In Global Inflation
Li Chen
17 Jun, 2025
Hong Kong
Investors remained guarded in trading in China amid elevated tensions in the Middle East and a lack of visible progress in tariff talks.
The Hang Seng index decreased 0.3%, and the mainland-focused CSI 300 index fell 0.2% as investors grappled with mounting inflationary pressures driven by rising crude oil prices.
Investors avoided large bets as Iran responded with a barrage of missile attacks to the unilateral strikes by Israel.
The two Middle Eastern nations exchanged aerial attacks for the fifth consecutive day, as global crude oil and natural gas supply chains face disruptions.
Market sentiment was cautious after China reported a mixed batch of economic data on Monday.
Retail sales surpassed expectations, but the residential property market showed no signs of improvement for the fourth year in a row.
Despite the pause in sky-high tariffs, the uncertainty linked to the U.S. trade policy has weighed on the market sentiment.
The U.S. export-linked businesses are struggling to adjust to the sudden demand drop and the subsequent surge after the U.S. paused extreme tariffs until August 12.
At least 28 million jobs are at risk if the U.S. and China fail to agree on details of the trade framework that was announced after a two-day meeting in London, UK, last week.
China Indexes and Stocks
The Hang Seng Index declined 0.3% to 24,028.27, and the mainland-focused CSI 300 index dropped 0.2% to 3,867.83.
Residential property developers were among the most actively traded stocks.
China Vanke dropped 0.6% to HK $5.06, Longfor Group Holdings decreased 0.1% to HK $9.94, Sun Hung Kai Properties Ltd. rose 0.4% to HK $87.55, and Henderson Land Development Co. Ltd. fell 0.4% to HK $26.80.
Li Auto Inc. declined 1.6% to HK $109.40, BYD dropped 0.5% to HK $129.10, and Xiaomi Corp. fell 0.4% to HK $53.90.
China Stocks Struggle Amid Rising Risk of Rebound In Global Inflation
Li Chen
17 Jun, 2025
Hong Kong
Investors remained guarded in trading in China amid elevated tensions in the Middle East and a lack of visible progress in tariff talks.
The Hang Seng index decreased 0.3%, and the mainland-focused CSI 300 index fell 0.2% as investors grappled with mounting inflationary pressures driven by rising crude oil prices.
Investors avoided large bets as Iran responded with a barrage of missile attacks to the unilateral strikes by Israel.
The two Middle Eastern nations exchanged aerial attacks for the fifth consecutive day, as global crude oil and natural gas supply chains face disruptions.
Market sentiment was cautious after China reported a mixed batch of economic data on Monday.
Retail sales surpassed expectations, but the residential property market showed no signs of improvement for the fourth year in a row.
Despite the pause in sky-high tariffs, the uncertainty linked to the U.S. trade policy has weighed on the market sentiment.
The U.S. export-linked businesses are struggling to adjust to the sudden demand drop and the subsequent surge after the U.S. paused extreme tariffs until August 12.
At least 28 million jobs are at risk if the U.S. and China fail to agree on details of the trade framework that was announced after a two-day meeting in London, UK, last week.
China Indexes and Stocks
The Hang Seng Index declined 0.3% to 24,028.27, and the mainland-focused CSI 300 index dropped 0.2% to 3,867.83.
Residential property developers were among the most actively traded stocks.
China Vanke dropped 0.6% to HK $5.06, Longfor Group Holdings decreased 0.1% to HK $9.94, Sun Hung Kai Properties Ltd. rose 0.4% to HK $87.55, and Henderson Land Development Co. Ltd. fell 0.4% to HK $26.80.
Li Auto Inc. declined 1.6% to HK $109.40, BYD dropped 0.5% to HK $129.10, and Xiaomi Corp. fell 0.4% to HK $53.90.
Stocks, Oil and Bond Yields Edged Higher as Iran-Israel War Threatens Global Energy Supply Chain
Barry Adams
16 Jun, 2025
New York City
Wall Street indexes advanced on Monday despite elevated geopolitical tensions and trade policy uncertainties.
The S&P 500 index gained 0.3%, and the tech-heavy Nasdaq Composite advanced 0.4%, and investors overlooked rising tensions between Israel and Iran.
For the fourth consecutive day, Israel and Iran exchanged aerial attacks as both countries targeted each other's energy infrastructure.
Iran threatened to close the Strait of Hormuz, which could cut off the supply of crude oil and natural gas to global markets.
Crude oil prices jumped as much as $77 a barrel in overnight trading but cooled down to $73 a barrel following a lull in air attacks over the last few hours.
Market sentiment was positive despite growing chaos in the Middle East, ongoing Russia's invasion into Ukraine, U.S. trade policy uncertainty, and the fading luster of U.S. safe-haven status.
The Fed Reserve is set to announce rate decisions on Wednesday, and investors are estimating the central bank to hold rates steady amid tariff uncertainty and rising geopolitical tensions in the Middle East.
The Bank of England and the Bank of Japan are also set to announce their rate decisions.
On the earnings front, markets anticipate results from Jabil, John Wiley & Sons, Lennar, Progressive Corp., Accenture Plc., CarMax, and Carnival Corp.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.9% to 6,028.10, the Nasdaq Composite edged up 1.0% to 19,603.71, and the Russell 2000 index advanced 1.0% to 2,121.18.
The yield on 2-year Treasury notes edged higher to 3.97%, 10-year Treasury notes increased to 4.44%, and 30-year Treasury bonds advanced to 4.93%.
WTI crude oil decreased $1.15 to $71.83 a barrel, and natural gas prices edged higher by $0.14 to $3.72 a thermal unit.
Gold decreased by $23.73 to 3,410.68 an ounce, and silver edged up by $0.07 to $36.39.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased by 0.38 to 97.81 and traded at the lowest level since April 2022.
U.S. Stock Movers
On Monday's trading, tech stocks led gainers on Wall Street amid speculation that leading tech companies are likely beneficiaries of the increased military spending.
Tesla Inc. edged up 2% to $331.56, Meta Platforms inched higher 0.6% to $687.14, Alphabet advanced 0.6% to $175.66, and Microsoft Corp. declined 0.6% to $473.77.
Stocks, Oil and Bond Yields Edged Higher as Iran-Israel War Threatens Global Energy Supply Chain
Barry Adams
16 Jun, 2025
New York City
Wall Street indexes advanced on Monday despite elevated geopolitical tensions and trade policy uncertainties.
The S&P 500 index gained 0.3%, and the tech-heavy Nasdaq Composite advanced 0.4%, and investors overlooked rising tensions between Israel and Iran.
For the fourth consecutive day, Israel and Iran exchanged aerial attacks as both countries targeted each other's energy infrastructure.
Iran threatened to close the Strait of Hormuz, which could cut off the supply of crude oil and natural gas to global markets.
Crude oil prices jumped as much as $77 a barrel in overnight trading but cooled down to $73 a barrel following a lull in air attacks over the last few hours.
Market sentiment was positive despite growing chaos in the Middle East, ongoing Russia's invasion into Ukraine, U.S. trade policy uncertainty, and the fading luster of U.S. safe-haven status.
The Fed Reserve is set to announce rate decisions on Wednesday, and investors are estimating the central bank to hold rates steady amid tariff uncertainty and rising geopolitical tensions in the Middle East.
The Bank of England and the Bank of Japan are also set to announce their rate decisions.
On the earnings front, markets anticipate results from Jabil, John Wiley & Sons, Lennar, Progressive Corp., Accenture Plc., CarMax, and Carnival Corp.
U.S. Stock Movers
On Monday's trading, tech stocks led gainers on Wall Street amid speculation that leading tech companies are likely beneficiaries of the increased military spending.
Tesla Inc. edged up 2% to $331.56, Meta Platforms inched higher 0.6% to $687.14, Alphabet advanced 0.6% to $175.66, and Microsoft Corp. declined 0.6% to $473.77.
European Markets Advanced as Israel-Iran War Entered Fourth Day
Bridgette Randall
16 Jun, 2025
London
European markets advanced in cautious trading amid escalating tensions in the Middle East and ahead of rate decisions from major central banks.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher as investors overlooked Middle East tensions.
Iran and Israel exchanged missile attacks for the fourth day in a row as both countries targeted military and nuclear infrastructure.
Crude prices jumped more than 3% after Iran threatened to close the Strait of Hormuz, impacting the global supply of crude oil.
The Bank of England, the Federal Reserve, and the Bank of Japan are scheduled to announce their rate decisions later in the week.
Three major central banks are expected to hold rates amid rising crude oil prices and uncertainty linked to the U.S. trade policy.
Europe Indexes and Yields
The DAX index increased by 0.3% to 23,590.74, the CAC-40 index edged higher by 0.3% to 7,711.76, and the FTSE 100 index advanced 0.2% to 8,869.65.
The yield on 10-year German bonds inched higher to 2.58%, French bonds increased to 3.29%, UK gilts moved up to 4.58%, and Italian bonds edged higher to 3.52%.
The euro increased to $1.16; the British pound was higher at $1.36; and the U.S. dollar was higher and traded at 81.29 Swiss cents.
Brent crude increased $0.55 to $74.78 a barrel, and the Dutch TTF natural gas was higher by €0.76 to €38.31 per MWh.
Europe Movers
Renault declined 7% after the vehicle maker confirmed that its chief executive, Luca De Meo, would step down.
Several analysts speculated that Meo is likely to take the helm of the fashion house as early as next month, driving Kering's stock higher.
Kering SA jumped 9.9% to €189.74, and Renault SA fell 7% to €40.05.
Airbus SE inched 0.3% higher to €162.04 after the company's chief executive, Guillaume Faury, confirmed muted orders at this week's Paris Air Show, following the crash of an Air India Boeing Dreamliner last week.
Industry analysts are estimating a sharp fall in annual orders to between 700 and 800, from 1,300 in 2023, amid ongoing supply chain woes and macroeconomic uncertainty.
European Markets Advanced as Israel-Iran War Entered Fourth Day
Bridgette Randall
16 Jun, 2025
London
European markets advanced in cautious trading amid escalating tensions in the Middle East and ahead of rate decisions from major central banks.
Benchmark indexes in Frankfurt, Paris, Milan, and London edged higher as investors overlooked Middle East tensions.
Iran and Israel exchanged missile attacks for the fourth day in a row as both countries targeted military and nuclear infrastructure.
Crude prices jumped more than 3% after Iran threatened to close the Strait of Hormuz, impacting the global supply of crude oil.
The Bank of England, the Federal Reserve, and the Bank of Japan are scheduled to announce their rate decisions later in the week.
Three major central banks are expected to hold rates amid rising crude oil prices and uncertainty linked to the U.S. trade policy.
Europe Indexes and Yields
The DAX index increased by 0.3% to 23,590.74, the CAC-40 index edged higher by 0.3% to 7,711.76, and the FTSE 100 index advanced 0.2% to 8,869.65.
The yield on 10-year German bonds inched higher to 2.58%, French bonds increased to 3.29%, UK gilts moved up to 4.58%, and Italian bonds edged higher to 3.52%.
The euro increased to $1.16; the British pound was higher at $1.36; and the U.S. dollar was higher and traded at 81.29 Swiss cents.
Brent crude increased $0.55 to $74.78 a barrel, and the Dutch TTF natural gas was higher by €0.76 to €38.31 per MWh.
Europe Movers
Renault declined 7% after the vehicle maker confirmed that its chief executive, Luca De Meo, would step down.
Several analysts speculated that Meo is likely to take the helm of the fashion house as early as next month, driving Kering's stock higher.
Kering SA jumped 9.9% to €189.74, and Renault SA fell 7% to €40.05.
Airbus SE inched 0.3% higher to €162.04 after the company's chief executive, Guillaume Faury, confirmed muted orders at this week's Paris Air Show, following the crash of an Air India Boeing Dreamliner last week.
Industry analysts are estimating a sharp fall in annual orders to between 700 and 800, from 1,300 in 2023, amid ongoing supply chain woes and macroeconomic uncertainty.
Japan's Indexes Advanced Ahead of BOJ Rate Decisions
Akira Ito
16 Jun, 2025
Tokyo
Japan's stock market indexes traded higher on Monday, reversing losses from the previous session, as investors overlooked escalating tensions in the Middle East.
Iran and Israel traded missile attacks, as both sides targeted key military and nuclear infrastructures, amid mounting casualties.
Iran threatened to close the Strait of Hormuz, a key shipping route for crude oil, driving the oil prices higher in Asian and European trading.
Investors awaited the release of rate decisions from the Bank of Japan at the end of a two-day meeting on Tuesday.
The central bank is widely expected to hold rates amid worries of higher inflation stoked by the Middle East tensions and uncertainty related to U.S. tariffs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.3% to 38,311.33, and the broader Topix index increased 0.8% to 2,777.13.
Eneos Holdings declined 2.2% to ¥726.30, Idemitsu Kosan Co. Ltd. decreased 0.4% to ¥883.0, and Inpex Corp. fell 0.4% to ¥2,114.0.
IHI Corp. gained 3.5% to ¥15,855.0, Kawasaki Heavy Industries increased 1.2% to ¥10,670.0, and Mitsubishi Heavy Industries advanced 2% to ¥3,582.0.
Nippon Yusen KK advanced 0.5% to ¥5,146.0, Mitsui O.S.K. Lines added 1.4% to ¥4,993.0, and Kawasaki Kisen Kaisha Ltd. added 1.4% to ¥2,095.50.
Japan's Indexes Advanced Ahead of BOJ Rate Decisions
Akira Ito
16 Jun, 2025
Tokyo
Japan's stock market indexes traded higher on Monday, reversing losses from the previous session, as investors overlooked escalating tensions in the Middle East.
Iran and Israel traded missile attacks, as both sides targeted key military and nuclear infrastructures, amid mounting casualties.
Iran threatened to close the Strait of Hormuz, a key shipping route for crude oil, driving the oil prices higher in Asian and European trading.
Investors awaited the release of rate decisions from the Bank of Japan at the end of a two-day meeting on Tuesday.
The central bank is widely expected to hold rates amid worries of higher inflation stoked by the Middle East tensions and uncertainty related to U.S. tariffs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.3% to 38,311.33, and the broader Topix index increased 0.8% to 2,777.13.
Eneos Holdings declined 2.2% to ¥726.30, Idemitsu Kosan Co. Ltd. decreased 0.4% to ¥883.0, and Inpex Corp. fell 0.4% to ¥2,114.0.
IHI Corp. gained 3.5% to ¥15,855.0, Kawasaki Heavy Industries increased 1.2% to ¥10,670.0, and Mitsubishi Heavy Industries advanced 2% to ¥3,582.0.
Nippon Yusen KK advanced 0.5% to ¥5,146.0, Mitsui O.S.K. Lines added 1.4% to ¥4,993.0, and Kawasaki Kisen Kaisha Ltd. added 1.4% to ¥2,095.50.
Japan
Akira Ito
16 Jun, 2025
Tokyo
Japan's stock market indexes traded higher on Monday, reversing losses from the previous session, as investors overlooked escalating tensions in the Middle East.
Iran and Israel traded missile attacks, as both sides targeted key military and nuclear infrastructures, amid mounting casualties.
Iran threatened to close the Strait of Hormuz, a key shipping route for crude oil, driving the oil prices higher in Asian and European trading.
Investors awaited the release of rate decisions from the Bank of Japan at the end of a two-day meeting on Tuesday.
The central bank is widely expected to hold rates amid worries of higher inflation stoked by the Middle East tensions and uncertainty related to U.S. tariffs.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 1.3% to 38,311.33, and the broader Topix index increased 0.8% to 2,777.13.
Eneos Holdings declined 2.2% to ¥726.30, Idemitsu Kosan Co. Ltd. decreased 0.4% to ¥883.0, and Inpex Corp. fell 0.4% to ¥2,114.0.
IHI Corp. gained 3.5% to ¥15,855.0, Kawasaki Heavy Industries increased 1.2% to ¥10,670.0, and Mitsubishi Heavy Industries advanced 2% to ¥3,582.0.
Nippon Yusen KK advanced 0.5% to ¥5,146.0, Mitsui O.S.K. Lines added 1.4% to ¥4,993.0, and Kawasaki Kisen Kaisha Ltd. added 1.4% to ¥2,095.50.