Global shares are mostly lower after Wall Street closes at new record
highs
[July 11, 2025] By
TERESA CEROJANO
MANILA, Philippines (AP) — Global shares are mostly down on Friday after
Wall Street closed at an all-time high with Delta Air Lines kicking off
earnings season with a solid outlook for the rest of 2025, spurring an
airline stock rally.
In early European trading, Germany's DAX lost 0.9% to 24,246.86. In
Paris, the CAC 40 shed 0.7% to 7,850.46, while Britain's FTSE 100 edged
0.2% down to 8,956.81.
In Asia, shares were mixed. Chinese markets were sharply higher in
earlier trading, buoyed by signs of possible additional stimulus
measures in China and Goldman Sachs Group's upgrade of Hong Kong stocks
to market-weight. The gains were later trimmed, with the Hang Seng in
Hong Kong finishing 0.6% higher to 24,172.50, and the Shanghai Composite
up 0.1% to 3,510.18 .
Tokyo’s Nikkei 225 closed 0.2% lower to 39,569.68, while South Korea's
Kospi shed 0.2% to 3,173.77.
Australia’s S&P/ASX 200 slipped 0.1% to 8,580.10, and India's BSE Sensex
fell 0.8% to 82,518.15.
The S&P 500 futures was down 0.5%. The Dow Jones Industrial Average
futures slid 0.6%.
“Just as the market was catching its breath at new highs—drunk on Nvidia
fumes and blissfully ignoring the dollar’s quiet groan—President Trump
tugged the rug again. A new act in the tariff opera: 35% duties on
Canadian imports, with a sweeping upgrade in blanket tariffs now
floating between 15% and 20%," Stephen Innes of SPI Asset Management
said in a commentary.
“Asian equities, initially hopeful, wilted into flat lines as if someone
had pulled the plug on the optimism generator. There’s a growing sense
now that risk has become radioactive—tradable, but only in hazmat
gloves," he added.
On Thursday, Wall Street added to its recent milestones as the market
closed at an all-time high after Delta Air Lines kicked off earnings
season with a solid outlook for the second half of the year.
The S&P 500 rose 0.3%, inching past the record it set last week after a
better-than-expected June jobs report.
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A person walks in front of an electronic stock board showing Japan's
Nikkei index at a securities firm Friday, July 11, 2025, in Tokyo.
(AP Photo/Eugene Hoshiko)
The Nasdaq composite edged up 0.1%, enough of a gain to notch a new high
for the second day in a row. The Dow Jones Industrial Average finished
0.4% higher.
Delta surged 12%, bringing other airlines along with it, after beating
Wall Street’s revenue and profit targets. The Atlanta airline also gave
a more optimistic view for the remaining summer travel season than it
had just a couple months ago.
The airline and other major U.S. carriers had pulled or slashed their
forecasts in the spring, citing macroeconomic uncertainty amid U.S.
President Donald Trump’s tariff rollouts, which have consumers feeling
uneasy about spending on travel.
Meanwhile, bitcoin (BTC-USD) climbed to a new all-time high Thursday,
breaking above $113,000.
The token’s price jump came amid bullish momentum across risk assets and
coincides with Nvidia’s surge to a $4 trillion valuation. It also comes
days before the U.S. Congress’ Crypto Week on July 14, where lawmakers
will debate a series of bills that could define the regulatory framework
for the industry.
In other dealings on Friday, benchmark U.S. crude added 25 cents to
$66.82 per barrel. Brent crude, the international standard for oil
prices, advanced 16 cents to $68.80 per barrel. The dollar was trading
at 146.85 Japanese yen, up from 146.20 yen. The euro slid to $1,1686
from $1.1704.
—
AP Business Writer Alex Veiga contributed to this report.
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