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Tourists take photos in Shinsekai with Tsutenkaku tower in sight in Osaka, Japan, on December 12, 2024.
Kichul Shin | Nurphoto | Getty Images
Asia-Pacific markets were set to trade mixed Thursday, as investors weigh U.S. President Donald Trump's proposed tariffs of about 25% on autos, semiconductors and pharmaceutical imports.
Trump, who said the duties could be implemented as soon as April 2, did not specify whether they will be targeted at imports from certain countries or be broad-based.
Australia's S&P/ASX 200 started the day down 0.94%, declining for the fourth straight day.
The country's seasonally adjusted unemployment rate is set to rise 4.1% in January from 4% the month before, estimates from a Reuters' poll shows.
Japan's benchmark Nikkei 225 was set to open lower, with the futures contract in Chicago at 38,920 while its counterpart in Osaka last traded at 38,980, against the index's last close of 39,164.61
Futures for Hong Kong's Hang Seng index stood at 22,750, pointing to a slightly higher open compared to the HSI's close of 22,944.24.
Overnight in the U.S., stocks continued to rise even as the Federal Reserve remained more cautious and U.S. President Donald Trump threatened more tariffs.
The S&P 500 rose 0.24%, settling at 6,144.15 and earning its second record close in a row. The index also touched a fresh all-time high during the session. The Nasdaq Composite added 0.07% to close at 20,056.25, while the Dow Jones Industrial Average advanced 71.25 points, or 0.16%, to end at 44,627.59.
— CNBC's Brian Evans and Pia Singh contributed to this report.
S&P 500 notches another record close
The S&P 500 earned another record-high close on Wednesday as investors shook off worry tied to inflation and U.S. trade policy.
The broad market index added 0.24% to close at 6,144.15, while the Nasdaq Composite gained 0.07% to 20,056.25. The Dow Jones Industrial Average advanced 71 points, or 0.16%, to finish the session at 44,627.59.
— Brian Evans
Palantir falls as much as 12.9%, most in more than nine months, on defense spending worries
High-flying Palantir Technologies slumped as much as 12.9% Wednesday, on pace for its largest loss since May 2024.
The move followed a Washington Post report that the Trump Administration and its Defense Secretary Pete Hegseth are ordering senior Pentagon officials "to develop plans for cutting 8% from the defense budget in each of the next five years."
Separately, Palantir filed notice with the U.S. Securities and Exchange Commission on Tuesday that CEO Alex Karp adopted a trading plan in mid-December allowing him to sell as many as 9.975 million shares through mid-September 2025.
Even with Wednesday's loss, Palantir remains 48% higher in 2025 after soaring 340% in 2024 and 167% in 2023.
Palantir shares over the past six months.
— Scott Schnipper, Adrian van Hauwermeiren
English (US)