व्यापार

By Renju Jose SYDNEY (Reuters) -Alphabet-owned Google on Monday said it would be "extremely difficult" for Australia to enforce a law prohibiting people younger than 16 from using social media, warning that the government's initiative would not make children safer online. Governments and tech firms around the world are closely watching Australia, which in December will become the first country to block the use of social media by people younger than 16. Social media platforms will not be required to conduct age verification procedures; instead, they will be asked to use artificial intelligence and behavioural data to reliably infer age. In a parliamentary hearing on online safety rules on Monday, YouTube's senior manager of government affairs in Australia, Rachel Lord, said the government's programme was well-intentioned, but it could have "unintended consequences." "The legislation will not only be extremely difficult to enforce, it also does not fulfil its promise of making kids safer online," Lord said. When asked if Google was lobbying officials in Washington to raise the issue when Australian Prime Minister Anthony Albanese meets U.S. President Donald Trump in Washington next week, Google Australia's government affairs director Stef Lovett said her U.S. colleagues were aware of the issues that the company faces in Australia. In July, Australia added YouTube to a list of sites covered by the legislation – reversing an earlier decision to exempt it due to its popularity with teachers – following complaints from other tech firms. Google contends that YouTube is a video-sharing site, not a social media platform. "Well-crafted legislation can be an effective tool to build on industry efforts to keep children safer online," Lord said. "But the solution to keeping kids safer online is not stopping them from being online." Instead, she said, online safety tools must be used to protect children and parents should be given the controls to guide their online experiences. Australia, concerned about the impact of social media on the mental health of young people, passed its Online Safety Amendment in November 2024. It gave companies a year to comply and they face a Dec. 10 deadline to deactivate the accounts of underage users. (Reporting by Renju Jose in Sydney; Editing by Thomas Derpinghaus.)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Gregor Stuart Hunter and Amanda Cooper SINGAPORE/LONDON (Reuters) -The dollar edged up on Monday, as investors hoped the U.S. would temper its latest escalation of the trade war with China after Friday's selloff, while political developments in France and Japan undermined the euro and the yen.  The dollar index, which measures the U.S. currency's performance against a basket of six others, was last up 0.2% at 99.2, recovering from declines late last week after U.S. President Donald Trump announced 100% tariffs on China. The broadside revived bad memories of Trump's Liberation Day rollout of sweeping tariffs in April and sparked a selloff in stocks and cryptocurrencies on Friday. TRUMP SOFTENS TONE "Certainly it's pretty nervous out there," said Tim Kelleher, head of institutional FX Sales at Commonwealth Bank in Auckland.  "If you look at the U.S. and China stuff, it looks like Trump has done a bit of a TACO again and softened his tone," he added, referring to a trading adage that "Trump always chickens out." After announcing the 100% tariffs on Friday, Trump said on Sunday: "Don’t worry about China, it will all be fine!" "Highly respected President Xi just had a bad moment," he posted on the Truth Social network. "He doesn’t want Depression for his country, and neither do I. The U.S.A. wants to help China, not hurt it!!!" U.S. Treasury Secretary Scott Bessent said on Monday he was confident the standoff could be "de-escalated", which curbed some of the dollar's gains. The euro was last down 0.2% at $1.1589 , up from a low of $1.1582 earlier. European markets broadly shrugged off the French presidency's announcement of Prime Minister Sebastien Lecornu's new cabinet lineup on Sunday, reappointing Roland Lescure, a close ally of Emmanuel Macron, as finance minister. Against the yen, the dollar was up 0.57% at 152.03 , below an earlier high of 152.46. A public holiday in Japan made for thinner trading. Markets meanwhile assessed the path ahead for new Liberal Democratic Party leader Sanae Takaichi after Komeito quit Japan's ruling coalition on Friday, dealing a blow to her hopes of becoming the first female prime minister of the world's fourth-largest economy. The offshore yuan recovered some stability to trade at 7.1416 per dollar, having reached a weak point of 7.144 overnight, after data showed China's export growth picked up pace in September. POSSIBLE CARRY TRADE IMPACT Even with sentiment on the up on Monday, analysts said the mood was fragile and currencies were likely prone to larger price swings.    "As we saw earlier this year neither side can tolerate such high tariffs for long and the comments from President Trump over the weekend again point towards a path for de-escalation," MUFG strategist Lee Hardman said. "As a result, the trade threats may just contribute a more volatile FX market in the near-term and trigger some unwind of carry trades," he added. Traders will often borrow in a low-yielding currency to invest in a higher-yielder, known as a carry trade. The Japanese yen and Swiss franc have typically been funding currencies and took a harder knock than others on Monday.  The Australian dollar, which tends to rally in a risk-on environment, rose 0.7% to $0.6517 , making it the best-performing major currency against the dollar on Monday. The pound, a fellow risk-on currency, was up 0.1% at $1.3347. (Reporting by Gregor Stuart Hunter; Editing by Shri Navaratnam, Jamie Freed, Aidan Lewis, Toby Chopra)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Manoj Kumar NEW DELHI (Reuters) -India and the United States are set to hold trade talks this week, with New Delhi pledging to import U.S. energy and gas as it aims to address Washington's concerns over its Russian oil purchases, an official said. Talks were suspended briefly in August after the Trump administration announced tariff hikes of up to 50% on Indian goods, accusing India of financing Russia's war in Ukraine by continuing to buy Moscow's oil despite western sanctions. However, discussions resumed in September after U.S. President Donald Trump struck a conciliatory tone in public remarks and spoke to Prime Minister Narendra Modi on the phone, raising hopes for a breakthrough.   The official, speaking on condition of anonymity, due to the sensitivity of the issue, said India was looking to increase purchases of energy and gas from the U.S.  The move follows U.S. ambassador-designate Sergio Gor's meetings over the weekend with Modi and later with Commerce Secretary Rajesh Agrawal on strengthening bilateral trade and investment. "During my visit to India, I met with Commerce Secretary Agrawal and discussed US-India economic ties, including increased investment in the United States," Gor said on 'X' on Sunday. Indian officials held "constructive" talks with U.S. counterparts in Washington last month, the government said, adding that both sides agreed to push for an early conclusion of a mutually beneficial trade deal. The U.S. tariff hikes have hurt Indian exports of textiles, leather goods, gems & jewellery, and food products, prompting the government to diversify markets and offer incentives to exporters. India's exports to the United States fell to $6.86 billion in August from $8.01 billion in July, trade ministry data showed, with exporters reporting further declines in September. Negotiations began in February 2025, targeting a deal to double bilateral trade to $500 billion by 2030. The two sides have held five rounds of trade talks, with the sixth – postponed in August – now expected to lead to the first phase of the deal next month, as agreed by Trump and Modi. India is seeking greater participation from private players, including U.S. firms, in its renewable and nuclear energy sectors. "Investments coming into our renewable energy sectors are an important area of our relationship (with the U.S.)," the official said, noting that New Delhi was open to buying more Liquefied Natural Gas (LNG) from the United States. When asked about the Trump administration's calls for greater Indian investment in the U.S., the source said New Delhi was not opposed and viewed overseas investments by Indian firms positively, similar to China’s approach. (Reporting by Manoj Kumar; writing by Shilpa Jamkhandikar; Editing by Sudipto Ganguly and Kate Mayberry)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Samuel Shen and Summer Zhen HONG KONG/SHANGHAI (Reuters) -A sharp sell-off in China stocks faded in choppy trading on Monday, allowing the market to trim early losses, as investors reassessed the impact of a renewed trade war between Washington and Beijing after taking profit to cut risks. Analysts and fund managers believe the market downside will be limited compared to the panic-selling seen in April, when U.S. President Donald Trump kicked off a global trade war with sweeping tariffs across the board. The Shanghai Composite closed down 0.2%, after falling as much as 2.5% in early trade. The blue-chip CSI300 Index was 0.5% lower. In Hong Kong, the Hang Seng benchmark tumbled as much as 3.5% before recovering some losses to end down 1.5%. The Hang Seng Tech index lost 1.8%. Defying the broader selloff, however, China's rare earth sector, which is at the centre of revived trade tensions, jumped more than 6% to a record high, while semiconductor stocks also gained 2.6%. Trump on Friday unveiled additional levies of 100% on China's U.S.-bound exports, along with new export controls on critical software by November 1, in a reprisal against China curbing its critical rare earth exports. Later he softened tones on Sunday, posting that everything would be fine and the U.S. did not want to "hurt" China. "President Trump reminded everyone that there are lots of uncertainties for markets," said Ben Bennett, head of investment strategy for Asia at L&G Asset Management, based in Hong Kong. He expects near-term wobbles in Chinese stocks after the strong rally of the past few months. The Shanghai composite hovered around a decade high level before the Monday retreat. The Hang Seng index has jumped 30% so far this year. "We believe this is a tactical escalation (by Beijing) to shape pre-summit bargaining, not a strategic decoupling," Morgan Stanley analysts said in a note, referring to a potential meeting between President Xi Jinping and Trump at an upcoming APEC summit in South Korea. An upbeat surprise in China's exports and imports data also helped lift investment sentiment. Investors should not be distracted by political headlines, said Yeang Cheng Ling, DBS's chief investment officer for North Asia. "We believe rationality will prevail at the end of it," he said. VOLATILITY SPIKES To be sure, markets are likely to remain anxious in the short term given the rising geopolitical tensions. An index tracking expected 30-day volatility in the benchmark Hang Seng surged 30% at one point on Monday to its highest level since April 2025, before easing slightly. Oriano Lizza, sales trader at CMC Markets in Singapore said the market is still digesting how long this saga will go on for, which "leaves the market on tenterhooks and very fragile at the moment". China's 30-year bond futures rose on Monday, indicating the rush for safe-havens. The yuan clawed back some of the losses that followed Trump's announcement on Friday, helped by stronger central bank guidance. Wang Yapei, a Shanghai-based hedge fund manager, expects the turbulence to be short-lived, betting China and the U.S. will eventually work through negotiations, as "the cost of large-scale conflict is too high for both powers." Beijing described Trump's latest tariffs on Chinese goods as hypocritical on Sunday but clarified that its export control is not an export ban and stopped short of imposing new levies on U.S. products. "This is a de-escalation move and will cushion the downside for Chinese markets," said Hong Hao, chief investment officer at Lotus Asset Management. Investors are likely to rotate from growth to value stocks in the coming weeks, he added. Charles Wang, chairman of Shenzhen Dragon Pacific Capital Management Co, said growing geopolitical uncertainty means China will likely further ease monetary policy to aid economic growth, supporting stocks. TACO AGAIN? China Merchants Securities said geopolitical tensions benefit Chinese sectors including artificial intelligence, robots, defence, innovative drugs and chipmaking. "Any correction would give long-term investors a chance to buy the stocks at lower prices," the brokerage said. But exporters sensitive to U.S. tariffs such as communications infrastructure, electric motors and electrical equipment, would be under pressure, analysts said. Many analysts, however, think the chance of a triple-digit tariff is slim. "This statement is more of Trump's signature negotiation tactic—applying maximum pressure to bolster bargaining leverage and force concessions during trade talks," Changjiang Securities said in a report. "It will likely again play out as TACO (Trump Always Chickens Out)." "In the near term, both sides are still reliant on one another…so we believe this latest escalation is more about posturing for incoming negotiations and meetings," said Lu Ting, Nomura's Chief China Economist, who sees "a decent chance" of a Xi-Trump in-person meeting during the APEC annual summit later this month. (Reporting by Summer Zhen in Hong Kong and Samuel Shen in Shanghai, Additional reporting by Rae Wee; Editing by Sam Holmes and Peter Graff)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Dhara Ranasinghe LONDON (Reuters) -World markets found steadier ground on Monday after being whipsawed by broadsides in the U.S.-China trade war, while gold hit new record highs in a sign that uncertainty remained high. While U.S. President Donald Trump had threatened 100% tariffs on China from November 1 and Beijing said it could take countermeasures, he sounded more conciliatory on Sunday, posting that the U.S. did not want to "hurt" China.  European shares were broadly higher, while U.S. stock futures also firmed although trading was subdued by a holiday in Japan and the United States.  France remained in the spotlight with reappointed prime minister Sebastien Lecornu facing pressure to get a budget deal across the line. "The stabilisation in markets is encouraging," said Rory McPherson, chief investment officer at Wren Sterling in London.  "Given everything that is going on with the (U.S. government) shutdown, and political turmoil in France and Japan, markets have been strong. A pullback would be healthy." Beijing defended on Sunday its curbs on exports of rare earth elements and equipment as a response to U.S. aggression, but stopped short of imposing new levies on U.S. products. Goldman Sachs chief economist Jan Hatzius said that while he still expected an extension of the current tariff pause, recent developments suggested a wider range of outcomes was possible. JAPANESE LEADERSHIP NOW IN DOUBT Japanese markets had their own problems with the ascension of new LDP leader Sanae Takaichi to prime minister now in doubt, contributing to a sharp rebound in the yen and a 5% dive in Nikkei futures on Friday. Japan's Nikkei was closed on Monday, while MSCI's broadest index of Asia-Pacific shares outside Japan tumbled 1.5%. Chinese blue chips fell 0.5%, though the rare earth and semiconductor sectors both firmed. Data pointed to some resilience in trade with exports rising 8.3%, almost twice the forecast, and imports up strongly. And in a sign that global uncertainties remained strong, gold hit fresh record highs above $4,000 an ounce, while Asia stocks fell sharply.  BofA commodities analysts said in a note on Monday that they had raise their forecast for gold to $5,000 an ounce for next year from $4,400.  U.S. stock futures pointed to a rebound on Wall Street, with S&P 500 and Nasdaq stock futures up more than 1% each. While the New York Stock Exchange and Nasdaq are open for trade on Monday's Columbus Day holiday, bond markets are closed.  Earnings season kicks off this week with major banks reporting, including JPMorgan, Goldman Sachs, Wells Fargo and Citigroup. S&P 500 companies overall are expected to have increased earnings by 8.8% in the third quarter from a year earlier, according to LSEG IBES, and strong results will be needed to justify the market's high valuations. "Our guess is you might get, at least in the very near term, a more volatile and directionless environment for some of the risky assets. Ultimately, whether or not you go against the market in this environment depends on your conviction," said Homin Lee, senior macro strategist at Lombard Odier. FRANCE TURMOIL Politics cast a cloud over Europe as the French presidency announced Lecornu's new cabinet line-up on Sunday, reappointing Roland Lescure, a close ally of Emmanuel Macron, as finance minister. Lecornu will face a no-confidence vote most likely on Thursday and it's unclear if he has the votes needed to survive. France's 10-year bond yield was little changed at around 3.47% and French stocks rallied 0.5% in a sign that investors were holding on to hopes for some near-term political stability. "Even if, very big if, Lecornu now lasts longer in office than on his first attempt, he will face an uphill struggle to get a budget for 2026 through the divided parliament by the end of the year," said Holger Schmieding, chief economist at Berenberg.  Currency markets also saw some stabilisation after Friday's rush into the traditional safe havens of the Japanese yen and Swiss franc. The dollar rallied 0.6% to 152 yen, having slid 1.2% on Friday from a top of 153.29. The euro slipped 0.25% to $1.1586, while the dollar gained 0.5% on the Swiss franc to 0.8038. The dollar index was steady, after losing 0.6% on Friday. In bond markets, cash Treasuries were closed for a holiday, while government bond yields in Europe nudged up.  U.S. and European bond yields had hit multi-week lows in the wake of Trump's tariff threat on Friday , while investors had added to wagers on more rate cuts from the Federal Reserve. "Interestingly, the bond market held up on Friday and that was encouraging given the recent selloff in long-dated bonds," said Wren Sterling's McPherson. Futures implied around a 98% chance of a quarter-point cut from the Fed later this month, and a similar probability of another move in December. Fed Chair Jerome Powell has a chance to offer his guidance when he speaks on the economic outlook at the NABE annual meeting on Tuesday.  A host of other Fed members are appearing this week, along with a who's who of central bankers attending an IMF-World Bank meeting in Washington. Oil prices also regained some ground on hopes the U.S. and China would find some compromise on trade to avoid fresh tariffs. [O/R] Brent bounced 1.7% to $63.8 a barrel, while U.S. crude rose 1.9% to $60 per barrel. (Reporting by Dhara Ranasinghe in London and Wayne Cole in Sydney; Editing by Ros Russell)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Saeed Azhar NEW YORK (Reuters) -Goldman Sachs has lost more than a dozen senior investment bankers this year, a higher number than normal, after internal shakeups and a sluggish start to 2025 drove them to seek new opportunities, according to three sources familiar with the situation. Some bankers left because they expected to be passed over for promotions this year, including to Goldman's elite partner class, while others exited because they expected meager bonuses after dealmaking stalled in the first half, according to two of the sources familiar with the situation who declined to be identified discussing personnel matters.  The scale of departures is being reported by Reuters for the first time.  Despite the departures, Goldman still tops Wall Street's league tables for mergers and acquisitions, and its fee volumes have also surged close to levels in 2021. Its broader investment banking net revenue in the nine months of the year rose to the highest since 2021, according to data from Dealogic. The bankers who departed this year joined rivals including JPMorgan Chase, Wells Fargo and Citigroup, while others joined boutiques like Evercore. "We always look to run our firm in service of our clients and shareholders," a bank spokesperson said in a statement. "Goldman Sachs succeeds because of our exceptional teams and strength of our franchise." The bank will elevate new partners this year. In 2024, it appointed 95 new partners, including 26 women. It advised Electronic Arts on its $55 billion sale to a consortium of private equity firms and Saudi Arabia's Public Investment Fund this year, and also advised Holcim on the spinoff of its North American business Amrize, now valued at $26 billion.  "There have been fewer deals overall, but larger in size, requiring less headcount," said Stephen Biggar, a banking analyst at Argus Research.  Megadeals across the industry jumped to $1.26 trillion in global mergers and acquisitions during the third quarter, up 40% year over year, according to Dealogic data. But 8,912 deals were signed, down 16% from last year, the worst third-quarter for deal volume in 20 years, according to the data. The surge in investment banking has also boosted Goldman's shares, which are up nearly 38% this year, outperforming the S&P Financial index's 11% rise. LEADERSHIP CHANGES Goldman made major leadership changes this year, introducing co-heads across its major divisions and adding six new members to its management committee. The firm also created a new financing division.  The Wall Street giant also pulled forward annual staffing cuts to the second quarter this year from September. The exercise typically targets a headcount reduction of 3% to 5% based on performance. Headcount fell 2% to 45,900 employees in the second quarter versus the first, according to a company filing. "The expectation for the bigger M&A environment has been in place for some time," said Macrae Sykes, portfolio manager at Gabelli Funds. "As such, I believe that Goldman Sachs is well prepared to take advantage of the tailwinds given their franchise and broad-based banking capabilities. Headcount may fluctuate, but not, in my opinion, the productiveness of the firm's banking culture." Below is a list of some of the Goldman bankers who have departed this year. They did not respond to requests for comment. Name New Company Role       Gabe Gelman Baker Brothers  Head of Capital Advisors Solutions Citigroup Managing Director, David Friedland Co-Head of North America Investment Banking Geddes Johnson FIS Head of Strategy and M&A Bennett Blau Evercore Managing Director, Medtech Todd Eagle Jefferies Managing Director, Head of US Real Estate JPMorgan Managing Director, Brett Miller Co-Head of Software Investment Banking JPMorgan Managing Director, Head Eric Quanbeck of Applied Technology JPMorgan Managing Director, Jonathan Business Services Slaughter Devin Wilde Morgan Stanley Managing Director BDT & MSD Managing Director, Ryan Nolan Partners Global Co-Head of Software Chris DiOrio Wells Fargo Managing Director, Head of Industrials M&A Wells Fargo Managing Director, Head Kieran Ryan of Sponsor M&A (Reporting by Saeed Azhar; Editing by Will Dunham)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -StubHub Holdings' shares rose nearly 5% in premarket trading on Monday, as Wall Street analysts backed the ticketing platform's potential for long-term growth despite the stock's rocky debut last month. Brokerages began coverage on StubHub on an upbeat note after the end of the industry-mandated quiet period. "We believe through its well-established, dominant position in the secondary ticketing market, StubHub will be able to establish a formidable entry into the materially larger primary ticketing market," Evercore ISI analysts said, assigning an "outperform" rating. At $19.81 on Monday, the shares are already below its IPO price of $23.50, which suggests the market is not fully convinced about StubHub's ability to grow quickly or compete with bigger players, according to analysts. Its industry rivals have also struggled in the public market, except Ticketmaster-parent Live Nation. StubHub's stock performance contrasts sharply with recent tech IPOs such as Klarna and Figma, which saw double-digit gains in early trading days. "We believe STUB shares, trading at a discount to peers, offer compelling risk/reward as we expect strong execution in core resale and ads, while direct issuance expectations seem muted," J.P. Morgan analysts said while initiating coverage with an "outperform" rating. The company raised nearly $800 million in its long-awaited U.S. IPO, with proceeds earmarked for reducing its $2.4 billion debt. The listing marked StubHub's return to public markets after multiple delays, following its $4.05 billion acquisition by Viagogo in 2020 and earlier ownership under eBay. Founded in 2000, StubHub operates a ticketing marketplace in more than 200 countries, enabling buyers to purchase tickets for live events, including sports and music performances. J.P. Morgan and Goldman Sachs led a 14-firm underwriting syndicate for StubHub's IPO.  (Reporting by Rashika Singh in Bengaluru; Editing by Leroy Leo)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

By Nupur Anand NEW YORK (Reuters) -JPMorgan Chase launched a $1.5 trillion plan on Monday to facilitate, finance and invest in industries deemed critical to the U.S. national security and economic resilience, including defense, energy and advanced manufacturing. As part of the 10-year initiative, the largest U.S. lender also plans to hire more bankers and invest up to $10 billion into U.S. companies through direct equity and venture capital investments, focusing on fast-growing businesses and key manufacturers. The announcement comes as U.S. President Donald Trump's administration looks to modernize infrastructure and reduce dependence on foreign supply chains, particularly in sectors like pharmaceuticals, semiconductors, clean energy and rare earths. “It has become painfully clear that the United States has allowed itself to become too reliant on unreliable sources of critical minerals, products and manufacturing – all of which are essential for our national security," JPMorgan Chairman and CEO Jamie Dimon said. Trump revived the trade war against Beijing on Friday, ending an uneasy truce between the two largest economies with promises to sharply hike tariffs in a reprisal against China curbing its rare earths exports. JPMorgan said its new "security and resiliency initiative" would facilitate financing and investment across four strategic sectors: supply chain and manufacturing; defense and aerospace; energy independence; and frontier technologies such as artificial intelligence and quantum computing. The firm said it had already planned to facilitate and finance about $1 trillion over the next decade in support of clients in these important industries, according to previously undisclosed internal figures, but it would be increasing the size by 50%. The U.S. government is pursuing deals across up to 30 industries, involving dozens of companies deemed critical to national or economic security, Reuters reported this month. JPMorgan, which helped put together the government's deal with U.S. rare earths mining company MP Materials, said in a recent company podcast that the bank was working with the Trump administration to explore more such opportunities. “We've had no less than 100 calls with clients to talk about the MP transaction as well as what this means for other industries,” said Andrew Castaldo, JPMorgan’s co-head of mid-cap mergers and acquisitions. “And we've had numerous trips down to Washington to explore those opportunities with the government.” Dimon also emphasized the need for policy reform to accelerate progress, citing regulatory delays and workforce challenges. “America needs more speed and investment,” he said. KEY INVESTMENT AREAS The four key investment areas identified by the firm have been divided into 27 sub-sectors ranging from shipbuilding and nuclear energy to nanomaterials and secure communications and will include middle-market companies as well as large corporate clients, it added. The bank said it would establish an external advisory council composed of public and private sector leaders, in addition to hiring more bankers and investment professionals. It will also expand thematic research on supply chain vulnerabilities and emerging technologies, leveraging its recently launched Center for Geopolitics. (Reporting by Nupur Anand in New York; Editing by Jamie Freed)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

(Reuters) -U.S. stock index futures rose on Monday following Friday's pullback, as investors returned to risk assets after President Donald Trump's softer tone eased concerns over renewed U.S.-China trade tensions. Trump on Friday said he would impose an additional 100% tariff on China's U.S.-bound exports, along with new export controls on critical U.S.-made software in retaliation for Beijing tightening rare earth restrictions. The revived trade tensions sent the S&P 500 and the Nasdaq, both previously on track to register weekly gains, to suffer their steepest weekly declines in months. However, in a more conciliatory tone over the weekend, Trump posted that "it will all be fine" and the U.S. did not want to "hurt" China. China on Sunday blamed the U.S. for the escalation. However, Beijing did not roll out further countermeasures ahead of a potential meeting between Trump and his Chinese counterpart later this month, which the U.S. president threatened to cancel. "The path for markets in the near term depend heavily on the path escalation takes," analysts at UBS Global Wealth Management said in a note. "More generally, we think that the bull market remains intact and so pullbacks should offer an opportunity for investors, who are underallocated to equities, to consider adding long-term exposure." The AI-driven momentum and optimism around U.S. rate cuts have helped markets in the recent months. At 05:23 a.m. ET, Dow E-minis were up 448 points, or 0.98%, S&P 500 E-minis were up 89.75 points, or 1.36%, and Nasdaq 100 E-minis were up 462 points, or 1.89%. Investor focus is also on the earnings season that kicks off this week with major U.S. banks including JPMorgan Chase, Goldman Sachs, Citigroup, and Wells Fargo set to release quarterly results on Tuesday. The season will be a crucial litmus test for U.S. stock markets and it will provide fresh clues on the economy at a time when major official data releases remain delayed due to a government shutdown that is currently in its 13th day. In premarket trading, shares of "Magnificent Seven" companies rose following Friday's pullback. Nvidia was up 3.7%, Tesla gained 2.8%, Microsoft advanced 1.5%, while Meta and Alphabet rose 1.6% each. In the Middle East, Hamas handed over the first group of the last surviving Israeli hostages, a key step in ending two years of devastating conflict in Gaza as part of a ceasefire deal pushed by Trump. (Reporting by Sukriti Gupta in Bengaluru; Editing by Maju Samuel)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)

NEW DELHI (Reuters) -India and the United States are set to hold trade talks this week, with New Delhi pledging to import U.S. energy and gas as it aims to address Washington's concerns over its Russian oil purchases, an official said. Talks were suspended briefly in August after the Trump administration announced tariff hikes of up to 50% on Indian goods, accusing India of financing Russia's war in Ukraine by continuing to buy Moscow's oil despite western sanctions. However, discussions resumed in September after U.S. President Donald Trump struck a conciliatory tone in public remarks and spoke to Prime Minister Narendra Modi on the phone, raising hopes for a breakthrough. The official, speaking on condition of anonymity because they were not authorised to speak to the media, said India was looking to increase purchases of energy and gas from the U.S. Indian officials held "constructive" talks with U.S. counterparts during a visit to Washington last month, the government said, and both sides agreed to continue discussions aimed at concluding a mutually beneficial trade deal soon. Negotiations between the two countries began in February 2025, targeting a deal to double bilateral trade to $500 billion by 2030. The two sides have held five rounds of trade talks, with the sixth postponed in August following tariff escalations. The official said both countries expect to sign the first tranche of the deal by next month, as initially agreed by Trump and Modi. (Reporting by Manoj Kumar; writing by Shilpa Jamkhandikar; Editing by Sudipto Ganguly and Kate Mayberry)

(The article has been published through a syndicated feed. Except for the headline, the content has been published verbatim. Liability lies with original publisher.)