Market Update
Wall Street Indexes Resume Selling as Fears of Trade War Shake Investor Sentiment
Barry Adams
06 Mar, 2025
New York City
On Wall Street, stock market indexes resumed selling amid ongoing Trump tariff confusion and flip-flops and growing worries about the state of the U.S. economy.
The S&P 500 index decreased 1.5% and the Nasdaq Composite declined 1.7%, amid worries that the Donald Trump's economic policies are fueling inflation and pushing the economy closer to a recession.
The White House confirmed that the U.S. would offer exemptions to the automobiles shipped from Canada and Mexico, but investors worried that the one-month delay in tariffs to a select group of companies is not going to help the overall weakening macroeconomic outlook.
On Wall Street, the Trump bump after the presidential election last November has now turned into a Trump dump, and investors are increasingly worried that the reckless tariffs with no economic rationale are pushing the economy closer to a recession.
Moreover, the Federal Reserve is more likely to postpone its rate cut towards the end of the year or may completely avoid it in 2025, amid rising prices at pump stations, grocery stores, and for services.
Commodities, Currencies, Indexes, Yields
The S&P 500 index decreased 1.5% to 5,753.84, the Nasdaq Composite edged down 1.7% to 18,234.24, and the Russell 2000 index was down 1.6% to 2,066.80.
The yield on 2-year Treasury notes edged lower to 3.98%, 10-year Treasury notes increased to 4.30%, and 30-year Treasury bonds advanced to 4.58%.
WTI crude oil increased $0.25 to $66.54 a barrel, and natural gas prices edged lower by $0.08 to $4.37 a therm. unit.
Gold decreased by $9.04 to $2,909.10 an ounce, and silver edged down by $0.23 to $32.40.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 1.74 to 104.01 and traded at a two-year high.
U.S. Movers
Marvell Technology plunged 17.5% to $74.41 after the advanced chipmaker reported fiscal fourth quarter results and the company's first quarter estimates fell short of expectations.
MongoDB Inc. dropped 22% to $206.71 after the company's weak outlook overshadowed strong quarterly results.
Zscaler Inc. rose 6% to $208.17 after the cloud security company reported strong quarterly results.
Victoria's Secret & Company dropped 9% to $20.23 after the lingerie retailer's revenue outlook in the current quarter fell short of market expectations.
Veeva Systems soared 5.9% to $233.06 after the cloud computing company reported strong quarterly results and offered a positive outlook for the current quarter.
Macy's Inc. decreased 9% to $13.02 after the struggling department store chain reported mixed quarterly results and offered a downbeat sales outlook, blaming "external uncertainties."
Across Macy's business units, including flagship stores, Bloomingdale's, and Blue Mercury, comparable store sales decreased 1.1%.
While the company's turnaround is taking shape, the company's fiscal 2025 earnings outlook disappointed investors.
U.S. Movers: Abercrombie & Fitch, Foot Locker, Mongo DB, Veeva Systems
Scott Peters
06 Mar, 2025
New York City
Foot Locker Inc. gained 0.5% to $18.35 after the footwear and apparel retailer reported weaker-than-expected sales in the fourth quarter of 2024.
Sales decreased to $2.24 billion from $2.38 billion, net income swung to a profit of $49 million from a loss of $389 million, and earnings per diluted share rose to a profit of 57 cents from a loss of $4.13 a year ago.
Sales in the 53rd week in 2023 were $98 million.
Overall comparable sales, including all banners and geographies, increased by 2.6%, and North America comparable same-store sales advanced 3.6%.
Champs Sports delivered its second consecutive quarter of comparable sales growth, with gains of 1.8%.
Foot Locker completed 160 store refreshes in the fourth quarter, bringing the total to over 400 for the year.
The company guided for fiscal 2025 sales growth between -1% and 0.5%, comparable sales change between 1% and 2.5%, and non-GAAP earnings per share between $1.35 and $1.65, compared to $1.37 in 2024.
Abercrombie & Fitch Co. dropped 0.3% to $87.0 after the specialty apparel retailer reported comparable sales growth of 14% in the fiscal fourth quarter of 2024.
Net sales increased to $1.58 billion from $1.45 billion, net income climbed to $187.23 million from $158.45 million, and earnings per diluted share rose to $3.57 from $2.97 a year ago.
Full-year 2024 revenue increased 16% to $4.95 billion from $4.28 billion a year ago, driven by a 17% rise in comparable store sales.
The company guided for the first quarter of 2025 net sales growth between 4% and 6% and net income per diluted share between $1.25 and $1.45, compared to $2.14 in the same period in 2024.
For the full year, the apparel retailer estimated net sales growth between 3% and 5% and net income per diluted share between $10.40 and $11.40, compared to $10.69 in 2024.
Abercrombie & Fitch announced a new $1.3 billion share repurchase authorization, expecting $400 million in share repurchases during 2025.
Veeva Systems Inc. surged 7.2% to $235.69 after the provider of cloud solutions for the life sciences industry reported increased sales in the fiscal fourth quarter of 2025 ending in January.
Revenue jumped to $720.89 million from $630.62 million, net income increased to $195.62 million from $147.40 million, and earnings per diluted share rose to $1.18 from 90 cents a year ago.
The company guided for the first quarter of 2026 revenue between $726 million and $729 million, compared to $650.3 million, and non-GAAP earnings per diluted share between $1.74 and $1.75, compared to $1.50 in the previous year.
Non-GAAP operating income is expected to be between $307 million and $309 million, compared to $247.0 million in the first quarter of 2025.
For the full year, Veeva estimated revenue between $3.04 billion and $3.05 billion, up from $2.75 billion a year ago, and non-GAAP earnings per diluted share at approximately $7.32, compared to $6.60 in 2025.
Non-GAAP operating income is expected at $1.30 billion, compared to $1.15 billion in 2025.
MongoDB Inc. plunged 17.4% to $218.10 after the developer data platform provider missed fourth-quarter analysts expectations.
Fourth-quarter 2025 revenue increased to $548.40 million from $458.00 million, net income jumped to $15.83 million from a loss of $55.46 million, and earnings per diluted share rose to 19 cents from a loss of 77 cents a year ago.
The company guided for the first quarter of 2026 revenue between $524 million and $529 million, up from $450.6 million a year ago, and non-GAAP net income per share between 63 cents and 67 cents, compared to 51 cents in the same quarter in 2025.
Non-GAAP income from operations is expected to be between $54 million and $58 million, up from $32.8 million in the first quarter of 2025.
MongoDB announced a stock buyback program of $200 million to offset the impact of last year’s acquisition of Voyage AI, a provider of embedding and reranking models that power next-generation artificial intelligence applications.
U.S. Movers: Abercrombie & Fitch, Foot Locker, Mongo DB, Veeva Systems
Scott Peters
06 Mar, 2025
New York City
Foot Locker Inc. gained 0.5% to $18.35 after the footwear and apparel retailer reported weaker-than-expected sales in the fourth quarter of 2024.
Sales decreased to $2.24 billion from $2.38 billion, net income swung to a profit of $49 million from a loss of $389 million, and earnings per diluted share rose to a profit of 57 cents from a loss of $4.13 a year ago.
Sales in the 53rd week in 2023 were $98 million.
Overall comparable sales, including all banners and geographies, increased by 2.6%, and North America comparable same-store sales advanced 3.6%.
Champs Sports delivered its second consecutive quarter of comparable sales growth, with gains of 1.8%.
Foot Locker completed 160 store refreshes in the fourth quarter, bringing the total to over 400 for the year.
The company guided for fiscal 2025 sales growth between -1% and 0.5%, comparable sales change between 1% and 2.5%, and non-GAAP earnings per share between $1.35 and $1.65, compared to $1.37 in 2024.
Abercrombie & Fitch Co. dropped 0.3% to $87.0 after the specialty apparel retailer reported comparable sales growth of 14% in the fiscal fourth quarter of 2024.
Net sales increased to $1.58 billion from $1.45 billion, net income climbed to $187.23 million from $158.45 million, and earnings per diluted share rose to $3.57 from $2.97 a year ago.
Full-year 2024 revenue increased 16% to $4.95 billion from $4.28 billion a year ago, driven by a 17% rise in comparable store sales.
The company guided for the first quarter of 2025 net sales growth between 4% and 6% and net income per diluted share between $1.25 and $1.45, compared to $2.14 in the same period in 2024.
For the full year, the apparel retailer estimated net sales growth between 3% and 5% and net income per diluted share between $10.40 and $11.40, compared to $10.69 in 2024.
Abercrombie & Fitch announced a new $1.3 billion share repurchase authorization, expecting $400 million in share repurchases during 2025.
Veeva Systems Inc. surged 7.2% to $235.69 after the provider of cloud solutions for the life sciences industry reported increased sales in the fiscal fourth quarter of 2025 ending in January.
Revenue jumped to $720.89 million from $630.62 million, net income increased to $195.62 million from $147.40 million, and earnings per diluted share rose to $1.18 from 90 cents a year ago.
The company guided for the first quarter of 2026 revenue between $726 million and $729 million, compared to $650.3 million, and non-GAAP earnings per diluted share between $1.74 and $1.75, compared to $1.50 in the previous year.
Non-GAAP operating income is expected to be between $307 million and $309 million, compared to $247.0 million in the first quarter of 2025.
For the full year, Veeva estimated revenue between $3.04 billion and $3.05 billion, up from $2.75 billion a year ago, and non-GAAP earnings per diluted share at approximately $7.32, compared to $6.60 in 2025.
Non-GAAP operating income is expected at $1.30 billion, compared to $1.15 billion in 2025.
MongoDB Inc. plunged 17.4% to $218.10 after the developer data platform provider missed fourth-quarter analysts expectations.
Fourth-quarter 2025 revenue increased to $548.40 million from $458.00 million, net income jumped to $15.83 million from a loss of $55.46 million, and earnings per diluted share rose to 19 cents from a loss of 77 cents a year ago.
The company guided for the first quarter of 2026 revenue between $524 million and $529 million, up from $450.6 million a year ago, and non-GAAP net income per share between 63 cents and 67 cents, compared to 51 cents in the same quarter in 2025.
Non-GAAP income from operations is expected to be between $54 million and $58 million, up from $32.8 million in the first quarter of 2025.
MongoDB announced a stock buyback program of $200 million to offset the impact of last year’s acquisition of Voyage AI, a provider of embedding and reranking models that power next-generation artificial intelligence applications.
Europe Movers: DHL Group, Informa, ITV, JCDecaux, Lufthansa, Schroders, Solvay, Zalando
Inga Muller
06 Mar, 2025
Frankfurt
DHL Group gained 4.2% to €38.77 after the parcel delivery company reported results for the fourth quarter of 2024.
Revenue increased 3% to €84.19 billion from €81.76 billion, net profit declined 9.3% to €3.33 billion from €3.67 billion, and earnings per diluted share dropped 7.6% to €2.81 from €3.04 a year ago.
The company guided for fiscal 2025 operating profit above €6 billion and free cash flow, excluding mergers and acquisitions, of €3 billion.
The company expanded its share buyback program by €2 billion to up to €6 billion and extended until 2026.
Zalando SE surged 4.6% to €34.47 after the fashion and lifestyle products retailer reported strong results for fiscal 2024.
Revenue increased to €10.57 billion from €10.14 billion, net income surged to €251.1 million from €83.0 million, and earnings per basic share rose to 97 cents from 32 cents a year ago.
Gross merchandise volume jumped to €15.30 billion from €14.63 billion a year ago.
During the year, active customers increased to 51.8 million from 49.6 million, and the number of orders climbed to 251.0 million from 244.8 million a year ago.
In the fourth quarter, revenue increased 8% to €3.30 billion from €3.06 billion, active customers increased 4.5% to 51.8 million from 49.6 million, and the number of orders rose 5.8% to 74.5 million from 70.4 million a year earlier.
The company guided for fiscal 2025 gross merchandise volume and revenue growth between 4% and 9% and adjusted EBIT to increase to a level between €530 and €590 million, compared to €511.1 million in 2024.
Deutsche Lufthansa AG surged 7.8% to €7.18 after Germany’s airline reported increased revenue in fiscal 2024.
Revenue jumped to €37.58 billion from €35.44 billion, net profit declined to €1.38 billion from €1.67 billion, and earnings per diluted share dropped to €1.15 from €1.40 a year ago.
The company guided for fiscal 2025 adjusted EBIT to be “significantly higher” than in the previous year, net capital expenditure between €2.7 billion and €3.3 billion, and free cash flow at the previous year’s level.
Schroders Plc. gained 1.05% to 384.20 pence after the UK-based asset management company reported revenue growth in fiscal 2024.
Revenue increased to £2.97 billion from £2.94 billion, profit climbed to £417.0 million from £402.6 million, and earnings per diluted share rose to 26.0 pence from 24.2 pence a year ago.
The company paid dividends of 21.5 pence per share in 2024 for a total of £334.2 million, compared to 21.5 pence per share or £333.0 million a year ago.
Schroders delivered £20 million of annual run-rate savings in the first quarter of 2025 and expects to have a total of £40 million of run-rate cost savings by the end of this year.
The company said it would onboard the recently announced £5.2 billion sustainable equity mandate from St James’s Place in the second quarter.
Solvay dropped 2.8% to €31.16 after the Belgian chemical ingredients provider reported slight sales growth in the fiscal fourth quarter of 2024.
Net sales increased to €1.134 billion from €1.131 billion, profit declined to €101 million from €191 million, and earnings per basic share fell to 96 cents from €1.82 a year ago.
The company guided for fiscal 2025 underlying EBITDA between €1.0 billion and €1.1 billion, compared to €1.05 billion in 2024, and free cash flow of around €300 million, down from €361 million in 2024.
The company said capital expenditure is likely to range between €300 million and €350 million, compared to €355 million in 2024.
Cost savings are expected to reach €200 million by year-end, compared to €110 million at the end of 2024, offsetting both inflation and the costs related to the company’s transition service agreement with Syensqo, a Belgian chemical materials provider.
ITV Plc. surged 4.8% to 72.95 pence after the UK-based video content creator and television network operator reported results for the fiscal year 2024.
Revenue declined 3% to £4.14 billion from £4.26 billion, group adjusted EBITA rose 11% to £542 million from £489 million, and earnings per share rose to 10.4 pence from 5.2 pence a year ago.
In the media and entertainment segment (M&E), advertising revenue grew 2% to £1.82 billion from £1.78 billion a year ago, and total M&E revenue edged up 1% to £2.10 billion from £2.09 billion a year ago.
In the ITV Studios segment, total revenue declined 6% to £2.04 billion from £2.17 billion a year ago.
ITV reported £60 million in non-content cost efficiencies in 2024 and estimated to achieve £30 million of savings in 2025.
JCDecaux SE surged 11.5% to €16.09 after the French advertising company reported increased revenue in fiscal 2024.
Revenue jumped to €3.63 billion from €3.29 billion, net income surged to €258.9 million from €209.2 million, and earnings per diluted share rose to €1.211 from €0.978 a year ago.
The company proposed a cash dividend of 55 cents per share for 2024.
JCDecaux guided for the first quarter of 2025 revenue growth of around 5%.
Informa Plc. dropped 3.4% to 792.40 pence despite the UK-based event management and academic research company reporting revenue growth in fiscal 2024.
Revenue increased 11.4% to £3.55 billion from £3.19 billion, profit before tax declined to £407.3 million from £492.1 million, and earnings per diluted share dropped to 22.2 pence from 29.9 pence a year ago.
The company guided for fiscal 2025 underlying revenue growth of more than 5% and “a double-digit” growth in group revenue and adjusted earnings per diluted share, including reported revenues of £4.1 billion.
In December 2024, Informa divested the historic shipping news brand Lloyd's List as well as Curinos Inc., an analytics and strategy provider.
In addition to the Lloyd’s List, the company also sold the rest of its maritime information operation to private equity firm Montagu, retaining a 20% stake in the business.
Europe Movers: DHL Group, Informa, ITV, JCDecaux, Lufthansa, Schroders, Solvay, Zalando
Inga Muller
06 Mar, 2025
Frankfurt
DHL Group gained 4.2% to €38.77 after the parcel delivery company reported results for the fourth quarter of 2024.
Revenue increased 3% to €84.19 billion from €81.76 billion, net profit declined 9.3% to €3.33 billion from €3.67 billion, and earnings per diluted share dropped 7.6% to €2.81 from €3.04 a year ago.
The company guided for fiscal 2025 operating profit above €6 billion and free cash flow, excluding mergers and acquisitions, of €3 billion.
The company expanded its share buyback program by €2 billion to up to €6 billion and extended until 2026.
Zalando SE surged 4.6% to €34.47 after the fashion and lifestyle products retailer reported strong results for fiscal 2024.
Revenue increased to €10.57 billion from €10.14 billion, net income surged to €251.1 million from €83.0 million, and earnings per basic share rose to 97 cents from 32 cents a year ago.
Gross merchandise volume jumped to €15.30 billion from €14.63 billion a year ago.
During the year, active customers increased to 51.8 million from 49.6 million, and the number of orders climbed to 251.0 million from 244.8 million a year ago.
In the fourth quarter, revenue increased 8% to €3.30 billion from €3.06 billion, active customers increased 4.5% to 51.8 million from 49.6 million, and the number of orders rose 5.8% to 74.5 million from 70.4 million a year earlier.
The company guided for fiscal 2025 gross merchandise volume and revenue growth between 4% and 9% and adjusted EBIT to increase to a level between €530 and €590 million, compared to €511.1 million in 2024.
Deutsche Lufthansa AG surged 7.8% to €7.18 after Germany’s airline reported increased revenue in fiscal 2024.
Revenue jumped to €37.58 billion from €35.44 billion, net profit declined to €1.38 billion from €1.67 billion, and earnings per diluted share dropped to €1.15 from €1.40 a year ago.
The company guided for fiscal 2025 adjusted EBIT to be “significantly higher” than in the previous year, net capital expenditure between €2.7 billion and €3.3 billion, and free cash flow at the previous year’s level.
Schroders Plc. gained 1.05% to 384.20 pence after the UK-based asset management company reported revenue growth in fiscal 2024.
Revenue increased to £2.97 billion from £2.94 billion, profit climbed to £417.0 million from £402.6 million, and earnings per diluted share rose to 26.0 pence from 24.2 pence a year ago.
The company paid dividends of 21.5 pence per share in 2024 for a total of £334.2 million, compared to 21.5 pence per share or £333.0 million a year ago.
Schroders delivered £20 million of annual run-rate savings in the first quarter of 2025 and expects to have a total of £40 million of run-rate cost savings by the end of this year.
The company said it would onboard the recently announced £5.2 billion sustainable equity mandate from St James’s Place in the second quarter.
Solvay dropped 2.8% to €31.16 after the Belgian chemical ingredients provider reported slight sales growth in the fiscal fourth quarter of 2024.
Net sales increased to €1.134 billion from €1.131 billion, profit declined to €101 million from €191 million, and earnings per basic share fell to 96 cents from €1.82 a year ago.
The company guided for fiscal 2025 underlying EBITDA between €1.0 billion and €1.1 billion, compared to €1.05 billion in 2024, and free cash flow of around €300 million, down from €361 million in 2024.
The company said capital expenditure is likely to range between €300 million and €350 million, compared to €355 million in 2024.
Cost savings are expected to reach €200 million by year-end, compared to €110 million at the end of 2024, offsetting both inflation and the costs related to the company’s transition service agreement with Syensqo, a Belgian chemical materials provider.
ITV Plc. surged 4.8% to 72.95 pence after the UK-based video content creator and television network operator reported results for the fiscal year 2024.
Revenue declined 3% to £4.14 billion from £4.26 billion, group adjusted EBITA rose 11% to £542 million from £489 million, and earnings per share rose to 10.4 pence from 5.2 pence a year ago.
In the media and entertainment segment (M&E), advertising revenue grew 2% to £1.82 billion from £1.78 billion a year ago, and total M&E revenue edged up 1% to £2.10 billion from £2.09 billion a year ago.
In the ITV Studios segment, total revenue declined 6% to £2.04 billion from £2.17 billion a year ago.
ITV reported £60 million in non-content cost efficiencies in 2024 and estimated to achieve £30 million of savings in 2025.
JCDecaux SE surged 11.5% to €16.09 after the French advertising company reported increased revenue in fiscal 2024.
Revenue jumped to €3.63 billion from €3.29 billion, net income surged to €258.9 million from €209.2 million, and earnings per diluted share rose to €1.211 from €0.978 a year ago.
The company proposed a cash dividend of 55 cents per share for 2024.
JCDecaux guided for the first quarter of 2025 revenue growth of around 5%.
Informa Plc. dropped 3.4% to 792.40 pence despite the UK-based event management and academic research company reporting revenue growth in fiscal 2024.
Revenue increased 11.4% to £3.55 billion from £3.19 billion, profit before tax declined to £407.3 million from £492.1 million, and earnings per diluted share dropped to 22.2 pence from 29.9 pence a year ago.
The company guided for fiscal 2025 underlying revenue growth of more than 5% and “a double-digit” growth in group revenue and adjusted earnings per diluted share, including reported revenues of £4.1 billion.
In December 2024, Informa divested the historic shipping news brand Lloyd's List as well as Curinos Inc., an analytics and strategy provider.
In addition to the Lloyd’s List, the company also sold the rest of its maritime information operation to private equity firm Montagu, retaining a 20% stake in the business.
European Markets Struggle to Hold Morning Gains, ECB Delivers Sixth Rate Cut
Bridgette Randall
06 Mar, 2025
London
European markets extended weekly gains following a rally in defense and automotive stocks and reviewed rate decisions from the central bank.
Benchmark indexes in Frankfurt rose, but they declined in Paris, London, and Milan.
The European Central Bank, as widely expected, trimmed its reference rates by 25 basis points, and investors are looking forward to comments from officials for future rate direction.
The latest cut was the sixth rate cut since the current cycle began at the end of May 2024, after rates peaked at 4.5%.
The central bank dropped the deposit rate to 2.5% amid weak macroeconomic conditions and uncertainties linked to U.S. trade policy and the Russia-Ukraine conflict.
In stock trading, automotive stocks rallied after the U.S. exempted automobile companies from the newly imposed 25% tariff on shipments from Mexico and Canada.
Volkswagen AG, BMW AG, Stellantis NV, and Renault SA advanced between 2% and 3%.
Defense stocks extended weekly gains after political leaders scheduled a second emergency meeting to provide military and financial assistance to Ukraine.
Rheinmetall, BAE Systems, Dassault Aviation, Safran SA, MTU Aero Engines, and Thales SA jumped between 1% and 3%.
On the economic front, retail sales in the eurozone rose at 1.5% in January, according to the latest data released by Eurostat.
Retail sales growth dropped to a four-month low in January and fell from a 2.2% annual rate in the previous month.
On a monthly basis, retail sales fell 0.3% after staying flat for two consecutive months.
Europe Indexes and Yields
The DAX index increased by 0.4% to 23,183.39, the CAC-40 index edged lower 0.5% to 8,133.46, and the FTSE 100 index declined by 0.8% to 8,681.31.
The yield on 10-year German bonds inched higher to 2.85%, French bonds increased to 3.56%, the UK gilts moved up to 4.66%, and Italian bonds edged higher to 3.91%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was lower and traded at 88.63 Swiss cents.
Brent crude increased $0.33 to $69.63 a barrel, and the Dutch TTF natural gas was higher by €0.69 to €41.68 per MWh.
Europe Stock Movers
Air France KLM soared 20% to €10.99, and the airline group reported sharply higher profit in the fourth quarter and full-year 2024.
Deutsche Lufthansa AG jumped 8.7% to €7.81, and the airline group estimated a sharp increase in earnings in 2025.
Deutsche Post AG gained 9% to €42.62 after the German postal service announced a €1 billion cost-cutting plan.
Zalando SE gained 0.4% to €34.65, and the online fashion retailer tripled its annual profit in 2024.
Admiral Group plc jumped 5.2% to 3,053.0 after the UK-based home and automobile insurance company reported a 90% jump in annual pre-tax profit.
European Markets Struggled to Hold Morning Gains Ahead of ECB Rate Decisions
Bridgette Randall
06 Mar, 2025
London
European markets extended weekly gains following a rally in defense and automotive stocks and ahead of rate decisions from the central bank.
Benchmark indexes in Frankfurt rose, but they declined in Paris, London, and Milan.
The European Central Bank is widely expected to trim its reference rates by 25 basis points, and investors are looking forward to comments from officials for future rate direction.
The latest cut will be the sixth rate cut since the current cycle began at the end of May 2024, after rates peaked at 4.5%.
The central bank is expected to drop the deposit rate to 2.5% amid weak macroeconomic conditions and uncertainties linked to U.S. trade policy and the Russia-Ukraine conflict.
In stock trading, automotive stocks rallied after the U.S. exempted automobile companies from the newly imposed 25% tariff on shipments from Mexico and Canada.
Volkswagen AG, BMW AG, Stellantis NV, and Renault SA advanced between 2% and 3%.
Defense stocks extended weekly gains after political leaders scheduled a second emergency meeting to provide military and financial assistance to Ukraine.
Rheinmetall, BAE Systems, Dassault Aviation, Safran SA, MTU Aero Engines, and Thales SA jumped between 1% and 3%.
On the economic front, retail sales in the eurozone rose at 1.5% in January, according to the latest data released by Eurostat.
Retail sales growth dropped to a four-month low in January and fell from a 2.2% annual rate in the previous month.
On a monthly basis, retail sales fell 0.3% after staying flat for two consecutive months.
Europe Indexes and Yields
The DAX index increased by 0.4% to 23,183.39, the CAC-40 index edged lower 0.5% to 8,133.46, and the FTSE 100 index declined by 0.8% to 8,681.31.
The yield on 10-year German bonds inched higher to 2.85%, French bonds increased to 3.56%, the UK gilts moved up to 4.66%, and Italian bonds edged higher to 3.91%.
The euro increased to $1.08; the British pound was lower at $1.29; and the U.S. dollar was lower and traded at 88.63 Swiss cents.
Brent crude increased $0.33 to $69.63 a barrel, and the Dutch TTF natural gas was higher by €0.69 to €41.68 per MWh.
Europe Stock Movers
Air France KLM soared 20% to €10.99, and the airline group reported sharply higher profit in the fourth quarter and full-year 2024.
Deutsche Lufthansa AG jumped 8.7% to €7.81, and the airline group estimated a sharp increase in earnings in 2025.
Deutsche Post AG gained 9% to €42.62 after the German postal service announced a €1 billion cost-cutting plan.
Zalando SE gained 0.4% to €34.65, and the online fashion retailer tripled its annual profit in 2024.
Admiral Group plc jumped 5.2% to 3,053.0 after the UK-based home and automobile insurance company reported a 90% jump in annual pre-tax profit.
Japanese Yen Jumped to 5-Month High, Export-Driven Stocks Led Gainers In Tokyo
Akira Ito
06 Mar, 2025
Tokyo
Stock market indexes in Tokyo advanced for the second consecutive day amid uncertainty linked to the U.S. trade policy that could start a new global trade war.
The Nikkei 225 stock average gained 0.8%, and the broader TOPIX advanced more than 1%, and the yen strengthened to 148.20 against the U.S. dollar.
The yen strengthened after Bank of Japan Deputy Governor Shinichi Uchida confirmed that the central bank is prepared to raise interest rates if economic indicators meet the forecast and support the action.
Investors widely anticipate the central bank to continue its rate-hike campaign and raise rates after the policy meeting later this month.
Export-driven stocks led the gainers in Tokyo after the White House offered exemptions from tariffs to automobile exports for one month.
Despite the latest tariff relief, investors are worried that Japanese exports to the U.S. are likely to face higher tariffs in the months ahead as the Trump administration looks for ways to bolster government revenue to finance its tax cut to the wealthy.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.8% to 37,704.93, and the broader TOPIX advanced 1.2% to 2,751.41.
Export-driven stocks led gainers in Tokyo amid a strengthening yen and receding worries of tariffs.
Mitsubishi Heavy Industries soared 10.6% to ¥2,520.50, Hitachi Ltd. advanced 7.5% to ¥3,978.0, Kawasaki Heavy Industries soared 7.5% to ¥9,120.0, and IHI Corp advanced 2.5% to ¥11,430.0.
Seven & I Holdings jumped 6% to ¥2,120.0, and investors hoped that the founding family may be able to resurrect a new buyout offer.
Separately, the company announced a new chief executive officer and a restructuring plan to lower operating costs.
The company plans to list its North American business on a stock exchange as early as 2026, according to local reports.
Japanese Yen Jumped to 5-Month High, Export-Driven Stocks Led Gainers In Tokyo
Akira Ito
06 Mar, 2025
Tokyo
Stock market indexes in Tokyo advanced for the second consecutive day amid uncertainty linked to the U.S. trade policy that could start a new global trade war.
The Nikkei 225 stock average gained 0.8%, and the broader TOPIX advanced more than 1%, and the yen strengthened to 148.20 against the U.S. dollar.
The yen strengthened after Bank of Japan Deputy Governor Shinichi Uchida confirmed that the central bank is prepared to raise interest rates if economic indicators meet the forecast and support the action.
Investors widely anticipate the central bank to continue its rate-hike campaign and raise rates after the policy meeting later this month.
Export-driven stocks led the gainers in Tokyo after the White House offered exemptions from tariffs to automobile exports for one month.
Despite the latest tariff relief, investors are worried that Japanese exports to the U.S. are likely to face higher tariffs in the months ahead as the Trump administration looks for ways to bolster government revenue to finance its tax cut to the wealthy.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.8% to 37,704.93, and the broader TOPIX advanced 1.2% to 2,751.41.
Export-driven stocks led gainers in Tokyo amid a strengthening yen and receding worries of tariffs.
Mitsubishi Heavy Industries soared 10.6% to ¥2,520.50, Hitachi Ltd. advanced 7.5% to ¥3,978.0, Kawasaki Heavy Industries soared 7.5% to ¥9,120.0, and IHI Corp advanced 2.5% to ¥11,430.0.
Seven & I Holdings jumped 6% to ¥2,120.0, and investors hoped that the founding family may be able to resurrect a new buyout offer.
Separately, the company announced a new chief executive officer and a restructuring plan to lower operating costs.
China's Ambitious Growth Target Raises Hopes for Additional Stimulus as Debt Level Reaches New Record High
Li Chen
06 Mar, 2025
Hong Kong
Stock market indexes in China and Hong Kong surged amid expectations of additional stimulus measures in support of the aggressive economic growth targets.
The Hang Seng index jumped nearly 3% and reached a 3-year high, and the benchmark index wiped out tariff-linked losses of the last two weeks.
The CSI 300 index gained more than 1%, driven by expectations that the People's Bank of China will provide additional liquidity to the financial system, lower the reference interest rate, and facilitate lending to consumers and businesses.
The National People's Congress' working papers suggested that the central government is targeting 5% annual economic growth in 2025.
The ambitious growth target will require higher spending by the government and raising the debt limit to a new record level.
Higher spending by the government will support the production of steel, cement, renewable energy products, and electric vehicle sales.
In the past, Chinese policymakers ridiculed the Japanese government for piling on the government debt despite the lack of economic growth.
However, China is pursuing the same debt-fueled, government spending-driven economic growth model of Japan, as the economy struggles to maintain elevated growth levels of the past.
Despite Beijing's economic growth target rate of 5%, China's economic growth is set to slow down to less than 3% in the next two years, driven by weaker export growth, demographic challenges, and the manufacturing industry shifting operations to other regions.
China Indexes and Markets
The Hang Seng index soared 2.6% to 24,211.62, and the broader index advanced 1.3% to 3,953.29.
Alibaba Group Holding soared 9% to HK $141.30 after the e-commerce company released a reasoning model for artificial intelligence applications.
China's Ambitious Growth Target Raises Hopes for Additional Stimulus as Debt Level Reaches New Record High
Li Chen
06 Mar, 2025
Hong Kong
Stock market indexes in China and Hong Kong surged amid expectations of additional stimulus measures in support of the aggressive economic growth targets.
The Hang Seng index jumped nearly 3% and reached a 3-year high, and the benchmark index wiped out tariff-linked losses of the last two weeks.
The CSI 300 index gained more than 1%, driven by expectations that the People's Bank of China will provide additional liquidity to the financial system, lower the reference interest rate, and facilitate lending to consumers and businesses.
The National People's Congress' working papers suggested that the central government is targeting 5% annual economic growth in 2025.
The ambitious growth target will require higher spending by the government and raising the debt limit to a new record level.
Higher spending by the government will support the production of steel, cement, renewable energy products, and electric vehicle sales.
In the past, Chinese policymakers ridiculed the Japanese government for piling on the government debt despite the lack of economic growth.
However, China is pursuing the same debt-fueled, government spending-driven economic growth model of Japan, as the economy struggles to maintain elevated growth levels of the past.
Despite Beijing's economic growth target rate of 5%, China's economic growth is set to slow down to less than 3% in the next two years, driven by weaker export growth, demographic challenges, and the manufacturing industry shifting operations to other regions.
China Indexes and Markets
The Hang Seng index soared 2.6% to 24,211.62, and the broader index advanced 1.3% to 3,953.29.
Alibaba Group Holding soared 9% to HK $141.30 after the e-commerce company released a reasoning model for artificial intelligence applications.
India Movers: CMS Info Systems, Hindusthan Urban, Ramco Systems, Shree Rama Multi-Tech, Shreyans Industries, Spright Agro, Tega Industries
Arun Goswami
06 Mar, 2025
Mumbai
Tega Industries Ltd. increased 0.07% to ₹1,321.05 after the mineral processing products maker reported a 52% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹420.6 crore from ₹346.7 crore, after-tax profit jumped to ₹54.2 crore from ₹35.6 crore, and diluted earnings per share rose to ₹8.15 from ₹5.34 a year ago.
Shree Rama Multi-Tech Ltd. rose 0.1% to ₹35.58 after the flexible packaging company reported a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹53.7 crore from ₹43.5 crore, net income advanced to ₹5.3 crore from ₹2.1 crore, and diluted earnings per share rose to 39 paisa from 16 paisa a year ago.
CMS Info Systems Ltd. fell 0.8% to ₹446.10 despite the cash management services provider reporting a 7% increase in net income in the December quarter.
Consolidated revenue increased to ₹593.2 crore from ₹590.1 crore, after-tax profit rose to ₹93.2 crore from ₹87.1 crore, and diluted earnings per share advanced to ₹5.56 from ₹5.37 a year ago.
The company's board declared a second interim dividend of ₹3.25 per share.
Shreyans Industries Limited advanced 0.2% to ₹184.64 despite the paper & forest products company reporting a 52% plunge from a year ago in quarterly profit.
Consolidated revenue declined to ₹171.8 crore from ₹187.9 crore, net income dropped to ₹9.1 crore from ₹20.9 crore, and diluted earnings per share fell to ₹6.58 from ₹15.08 a year ago.
Matrimony.com Limited gained 1.1% to ₹536.60 despite the online matchmaking and marriage-related services provider reporting a marginal decline in net income and revenue in the December quarter.
Consolidated revenue decreased to ₹118.4 crore from ₹123.6 crore, after-tax profit fell to ₹10 crore from ₹11.1 crore, and diluted earnings per share declined to ₹4.54 from ₹4.99 a year ago.
Ramco Systems Ltd. declined 1.8% to ₹304.20 after the enterprise software company said net loss shrank in the December quarter
Consolidated revenue advanced to ₹157.5 crore from ₹128.8 crore, net loss shrank to ₹10 crore from ₹26.1 crore, and diluted losses per share dropped to ₹2.79 from ₹7.47 a year ago.
Hindusthan Urban Infrastructure Ltd. fell 0.3% to ₹2,370, and the company reported a marginal increase in revenue and a 60% increase in net loss in the December quarter.
Consolidated revenue increased to ₹136.6 crore from ₹130.6 crore, after-tax profit expanded to ₹13.6 crore from ₹8.5 crore, and diluted losses per share advanced to ₹50.70 from ₹38.18 a year ago.
Spright Agro Ltd. dropped 5% to ₹6.02 despite the agricultural company reporting a two-and-a-half-fold increase in revenue in the December quarter.
Consolidated revenue advanced to ₹55 crore from ₹22.4 crore, net income rose to ₹7.1 crore from ₹5.5 crore, and diluted earnings per share dropped to 7 paisa from ₹2.19 a year ago.
India Movers: CMS Info Systems, Hindusthan Urban, Ramco Systems, Shree Rama Multi-Tech, Shreyans Industries, Spright Agro, Tega Industries
Arun Goswami
06 Mar, 2025
Mumbai
Tega Industries Ltd. increased 0.07% to ₹1,321.05 after the mineral processing products maker reported a 52% jump in its earnings in the December quarter.
Consolidated revenue increased to ₹420.6 crore from ₹346.7 crore, after-tax profit jumped to ₹54.2 crore from ₹35.6 crore, and diluted earnings per share rose to ₹8.15 from ₹5.34 a year ago.
Shree Rama Multi-Tech Ltd. rose 0.1% to ₹35.58 after the flexible packaging company reported a two-and-a-half-fold increase in earnings in the December quarter.
Consolidated revenue advanced to ₹53.7 crore from ₹43.5 crore, net income advanced to ₹5.3 crore from ₹2.1 crore, and diluted earnings per share rose to 39 paisa from 16 paisa a year ago.
CMS Info Systems Ltd. fell 0.8% to ₹446.10 despite the cash management services provider reporting a 7% increase in net income in the December quarter.
Consolidated revenue increased to ₹593.2 crore from ₹590.1 crore, after-tax profit rose to ₹93.2 crore from ₹87.1 crore, and diluted earnings per share advanced to ₹5.56 from ₹5.37 a year ago.
The company's board declared a second interim dividend of ₹3.25 per share.
Shreyans Industries Limited advanced 0.2% to ₹184.64 despite the paper & forest products company reporting a 52% plunge from a year ago in quarterly profit.
Consolidated revenue declined to ₹171.8 crore from ₹187.9 crore, net income dropped to ₹9.1 crore from ₹20.9 crore, and diluted earnings per share fell to ₹6.58 from ₹15.08 a year ago.
Matrimony.com Limited gained 1.1% to ₹536.60 despite the online matchmaking and marriage-related services provider reporting a marginal decline in net income and revenue in the December quarter.
Consolidated revenue decreased to ₹118.4 crore from ₹123.6 crore, after-tax profit fell to ₹10 crore from ₹11.1 crore, and diluted earnings per share declined to ₹4.54 from ₹4.99 a year ago.
Ramco Systems Ltd. declined 1.8% to ₹304.20 after the enterprise software company said net loss shrank in the December quarter
Consolidated revenue advanced to ₹157.5 crore from ₹128.8 crore, net loss shrank to ₹10 crore from ₹26.1 crore, and diluted losses per share dropped to ₹2.79 from ₹7.47 a year ago.
Hindusthan Urban Infrastructure Ltd. fell 0.3% to ₹2,370, and the company reported a marginal increase in revenue and a 60% increase in net loss in the December quarter.
Consolidated revenue increased to ₹136.6 crore from ₹130.6 crore, after-tax profit expanded to ₹13.6 crore from ₹8.5 crore, and diluted losses per share advanced to ₹50.70 from ₹38.18 a year ago.
Spright Agro Ltd. dropped 5% to ₹6.02 despite the agricultural company reporting a two-and-a-half-fold increase in revenue in the December quarter.
Consolidated revenue advanced to ₹55 crore from ₹22.4 crore, net income rose to ₹7.1 crore from ₹5.5 crore, and diluted earnings per share dropped to 7 paisa from ₹2.19 a year ago.
Wall Street Sentiment Sours After Trump's Assurances On Management of Economy Ring Hollow
Barry Adams
05 Mar, 2025
New York City
Market sentiment on Wall Street reflected the White House-induced chaos and ongoing federal government policy uncertainty.
The S&P 500 index gained 0.1%, and the Nasdaq Composite decreased 0.1%, as investors held out for a possible compromise in lowering tariffs on goods shipped from Canada and Mexico.
The U.S. tariff uncertainty has already pushed investors to lower earnings expectations in 2025, and the Federal Reserve may delay its expected rate cuts later in the year or may never happen.
Target, Best Buy, and other leading companies are planning price hikes as early as this week, reflecting higher tariffs on goods arriving from China and Mexico.
Prices of tomatoes, avocados, and fruits are also expected to jump higher after Mexican goods face a 25% tariff starting March 4.
Automobile companies are looking to pass on higher tariffs to consumers, and many carmakers are looking to raise prices by as much as 25%.
On the campaign trail, Donald Trump promised to lower prices, kill inflation, and simplify the regulatory regime for businesses; instead, consumers are paying higher prices at the gas stations and grocery stores, and businesses are lost in the new uncertainty of the tariff regime.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.1% to 5,785.68, the Nasdaq Composite edged down 0.01% to 18,23.34, and the Russell 2000 index was down 0.1% to 2,077.02.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.21%, and 30-year Treasury bonds declined to 4.52%.
WTI crude oil decreased $1.72 to $66.53 a barrel, and natural gas prices edged lower by $0.04 to $4.31 a thermal unit.
Gold increased by $10.93 to 2,903.41 an ounce, and silver edged up by $0.14 to $32.06.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.98 to 104.76 and traded at a two-year high.
U.S. Stock Movers
AeroVironment Inc. plunged 22% to $110.0 after the advanced robotics company reported weak 2024 results, and the company guided weak sales outlook.
Revenue declined to $139.75 million from $155.92 million, net income swung to a loss of $1.75 million from a profit of $13.88 million, and net loss per diluted share was 6 cents compared to a profit of 50 cents a year ago.
The company guided for fiscal 2025 revenue between $780 million and $795 million, compared to $716.7 million a year ago, and non-GAAP earnings per diluted share between $2.92 and $3.13, compared to 43 cents in 2024.
Ross Stores increased 1.1% to $135.40, and the off-price clothes retailer reported better-than-expected earnings in the holiday-driven fourth quarter.
Abercrombie & Fitch decreased 10.2% to $85.83, and the specialty apparel retailer's fourth quarter results surpassed market expectations, but current quarter estimates fell short of market expectations.
The company guided revenue in the fiscal first quarter to increase between 4% and 6% and earnings per share between $1.25 and $1.45.
Full-year 2024 revenue increased 16% to $4.95 billion, driven by a 17% rise in comparable store sales.
The company also announced a new stock repurchase plan of $1.3 billion and plans to purchase $400 million of shares in 2025.
Wall Street Sentiment Sours After Trump's Assurances On Management of Economy Ring Hollow
Barry Adams
05 Mar, 2025
New York City
Market sentiment on Wall Street reflected the White House-induced chaos and ongoing federal government policy uncertainty.
The S&P 500 index gained 0.1%, and the Nasdaq Composite decreased 0.1%, as investors held out for a possible compromise in lowering tariffs on goods shipped from Canada and Mexico.
The U.S. tariff uncertainty has already pushed investors to lower earnings expectations in 2025, and the Federal Reserve may delay its expected rate cuts later in the year or may never happen.
Target, Best Buy, and other leading companies are planning price hikes as early as this week, reflecting higher tariffs on goods arriving from China and Mexico.
Prices of tomatoes, avocados, and fruits are also expected to jump higher after Mexican goods face a 25% tariff starting March 4.
Automobile companies are looking to pass on higher tariffs to consumers, and many carmakers are looking to raise prices by as much as 25%.
On the campaign trail, Donald Trump promised to lower prices, kill inflation, and simplify the regulatory regime for businesses; instead, consumers are paying higher prices at the gas stations and grocery stores, and businesses are lost in the new uncertainty of the tariff regime.
Commodities, Currencies, Indexes, Yields
The S&P 500 index increased 0.1% to 5,785.68, the Nasdaq Composite edged down 0.01% to 18,23.34, and the Russell 2000 index was down 0.1% to 2,077.02.
The yield on 2-year Treasury notes edged lower to 3.92%, 10-year Treasury notes decreased to 4.21%, and 30-year Treasury bonds declined to 4.52%.
WTI crude oil decreased $1.72 to $66.53 a barrel, and natural gas prices edged lower by $0.04 to $4.31 a thermal unit.
Gold increased by $10.93 to 2,903.41 an ounce, and silver edged up by $0.14 to $32.06.
The dollar index, which weighs the US currency against a basket of foreign currencies, decreased 0.98 to 104.76 and traded at a two-year high.
U.S. Stock Movers
AeroVironment Inc. plunged 22% to $110.0 after the advanced robotics company reported weak 2024 results, and the company guided weak sales outlook.
Revenue declined to $139.75 million from $155.92 million, net income swung to a loss of $1.75 million from a profit of $13.88 million, and net loss per diluted share was 6 cents compared to a profit of 50 cents a year ago.
The company guided for fiscal 2025 revenue between $780 million and $795 million, compared to $716.7 million a year ago, and non-GAAP earnings per diluted share between $2.92 and $3.13, compared to 43 cents in 2024.
Ross Stores increased 1.1% to $135.40, and the off-price clothes retailer reported better-than-expected earnings in the holiday-driven fourth quarter.
Abercrombie & Fitch decreased 10.2% to $85.83, and the specialty apparel retailer's fourth quarter results surpassed market expectations, but current quarter estimates fell short of market expectations.
The company guided revenue in the fiscal first quarter to increase between 4% and 6% and earnings per share between $1.25 and $1.45.
Full-year 2024 revenue increased 16% to $4.95 billion, driven by a 17% rise in comparable store sales.
The company also announced a new stock repurchase plan of $1.3 billion and plans to purchase $400 million of shares in 2025.