CNBC Daily Open: Funny how the S&P 500 is teasing a new high amid uncertainties

Have we gone backmost successful time? It surely seems connected the markets front. Just look astatine the S&P 500 and you volition deliberation that it's backmost successful February — earlier U.S. President Donald Trump's "reciprocal" tariffs, earlier the White House's "One Big Beautiful Bill Act," and earlier the warfare betwixt Israel and Iran.  

On February 19, the broad-based scale closed astatine an all-time high of 6,144.15. Yesterday, it ended the trading session astatine 6,092.16. That's a quality of little than 1%. A airy breeze (or rogue societal media station from the sitting U.S. president) could propulsion the S&P 500 beyond that level.

In different motion investors seemed to beryllium backmost to the days earlier commercialized and geopolitical uncertainty, Nvidia's again successful the headlines aft it surged 4.3% to adjacent astatine a new high, a awesome of the optimism surrounding artificial quality that drove overmuch of 2024's marketplace gains.

What's unusual is that the marketplace appears to person shrugged disconnected dense loads that person been weighing it down since March.

Tariff worries inactive persist. Trump connected Wednesday threatened Spain that helium would "make them wage doubly arsenic much" successful a commercialized woody due to the fact that the European state is resisting an summation successful spending connected defense.

The warfare betwixt Israel and Iran, though presently paused acknowledgment to a ceasefire, is not conclusively over. And that truce appears fragile — it was almost broken conscionable hours aft it kicked in. Who knows however the planned U.S. talks with Iran adjacent week volition go. (As agelong arsenic it doesn't descend into the shouting lucifer successful the Oval Office erstwhile Ukrainian President Volodymyr Zelenskyy was there, I'd see it a success.)

Nostalgia is alluring. But that allure tin beryllium dangerous.

The S&P 500 is astatine the cusp of a caller high. The index, however, ended Wednesday small changed. Tech stocks rose, with many hitting intraday highs. But Asia-Pacific markets mostly fell Thursday, with Japan's Nikkei 225 1 of the fewer indexes successful the green.

Trump threatened Spain with a pugnacious commercialized deal. The U.S. president made those comments astatine NATO's yearly acme aft the alliance's allies — barring Spain — agreed to conscionable a defense spending people of 5% of gross home merchandise by 2035.

Nvidia's the astir invaluable institution again. Shares jumped 4.3% connected Wednesday and closed astatine a record — the archetypal clip it's done truthful since January. Asian spot stocks chased Nvidia's highs connected Thursday.

China urges improvement slope to enactment Belt and Road. Chinese Premier Li Qiang connected Thursday exhorted the Asian Infrastructure Investment Bank, a Beijing-backed improvement bank, to increase its support for the Beijing-launched determination improvement program.

[PRO] Investors are holding their breath. The U.S. marketplace seems amazingly resilient to commercialized friction and geopolitical instability. In fact, the S&P 500 seems connected way to adjacent astatine a caller record. But risks that could sound it disconnected people remain.

Japan atom situation shows signs of easing arsenic banal instrumentality to shelves

After months of soaring atom prices, Japanese consumers whitethorn beryllium yet getting immoderate relief.

Data from Japan's agriculture ministry showed that the mean terms of a 5-kg container of atom had fallen to 3,920 yen ($27.03) for the week ending June 15. It's the archetypal clip that the terms dropped beneath the 4,000-yen people since the week that ended connected March 2.

That's partially acknowledgment to the authorities releasing its atom reserves. But galore consumers are acrophobic that the stockpiled atom is aged and not arsenic tasty, according to a prof of Japanese business.

— Lim Hui Jie