Australia markets welcome political stability under Labor as Trump 2.0 risks mount
  • May 4, 2025

Australia markets welcome political stability under Labor as Trump 2.0 risks mount

SYDNEY (Reuters) -Australian financial markets on Monday largely welcomed a historic win by the centre-left Labor Party as it strengthens the government's hand in dealing with any serious threat to the economy from Donald Trump's global trade war. Prime Minister Anthony Albanese secured a resounding victory in the nation's general election on Saturday, riding a voter backlash against the policies of Trump that consigned the conservative Liberal-National coalition to a heavy defeat. The result expands the incumbent Labor Party's majority in the lower house and boosts its ranks in the senate, providing more leeway for the government to deal with what Treasurer Jim Chalmers described as a global economy "going crazy."

Big Tech earnings defy fears of ‘worst-case scenario’ for stocks
  • May 4, 2025

Big Tech earnings defy fears of ‘worst-case scenario’ for stocks

(Bloomberg) -- Investors in the US technology behemoths that dominate the S&P 500 Index are breathing a sigh of relief as last week’s earnings reports from the group show their outlooks remain mostly strong in the face of President Donald Trump’s shifting trade policies.Most Read from BloombergThe Battle Over the Fate of Detroit’s Renaissance CenterNYC Lost $9 Billion of Income to Miami, Palm Beach in Five YearsNYC Real Estate Industry Asks Judge to Block New Broker Fee LawNJ Transit Urges Commu

How the stock market made back all its losses after Trump escalated the trade war
  • May 4, 2025

How the stock market made back all its losses after Trump escalated the trade war

It felt much longer, but the U.S. stock market needed just a few weeks to roar all the way back to where it was on President Donald Trump's “Liberation Day.” Within just four days, the S&P 500 fell about 12%, and the Dow Jones Industrial Average lost nearly 4,600 points, or about 11%. This past Friday, though, the S&P 500 rallied 1.5% for a ninth straight gain and pulled back to where it was on April 2.