KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Wall Street closed lower on Friday as investors digested a new wave of tariff escalations from President Donald Trump, reigniting concerns about global trade disruption just as second-quarter earnings season looms.
Tariffs Trigger Caution
The S&P 500 slipped 0.33% to 6,259.75, pulling back from Thursday’s all-time high after Trump announced a 35% tariff on Canadian imports starting next month. The president also threatened blanket tariffs of 15%-20% on most other trade partners, building on Wednesday’s shock 50% tariff on Brazilian goods.
"The tariff rhetoric is back, and it’s rattling sentiment," said Michael James of Rosenblatt Securities. "Markets were getting used to a quieter trade backdrop—now they’re recalibrating."
The Dow Jones Industrial Average fell 0.63% to 44,371.51, while the Nasdaq edged down 0.22% to 20,585.53.
Weekly Recap: Modest Pullback Despite Record Levels
| Index | Weekly Change |
|---|---|
| S&P 500 | -0.3% |
| Dow Jones | -1.0% |
| Nasdaq | -0.1% |
Despite the downbeat finish, the S&P 500 is still up 6% year-to-date—powered largely by megacap tech and AI optimism.
Stocks in Focus
Nvidia (NVDA) rose 0.5% to a fresh record, hitting a US$4.02 trillion market cap.
AeroVironment and Kratos Defense soared ~11% after a Pentagon drone ramp-up order.
Levi Strauss & Co surged 11% on raised guidance and strong quarterly results.
Meta Platforms fell 1.3% on rising EU regulatory risks.
Kraft Heinz climbed 2.5% on breakup speculation.
📦 Eyes on Q2 Earnings
Next week, heavyweights like JPMorgan, Netflix, and Johnson & Johnson report earnings, and investors are bracing for any signs of tariff-related disruptions to corporate profits.
Analysts expect:
+5.7% YoY EPS growth for the S&P 500
Strength from tech
Weakness from energy, consumer staples, and discretionary sectors
“Expectations seem modest, possibly weighed down by the on-off tariff noise,” said Michael Landsberg of Landsberg Bennett.
Market Internals
Volume: 15.4 billion shares vs 20-day avg of 18.3 billion
Advancers vs decliners: 1 to 2.8
S&P 500: 12 new highs, 4 new lows
Nasdaq: 58 new highs, 43 new lows
Takeaway
Trump’s renewed tariff offensive has cast a shadow over markets at a pivotal moment. While investor focus shifts to corporate earnings, trade policy risks are once again front and center.
Stay cautious, but stay tuned—volatility could be back on the menu.
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