NEW YORK (AP) 鈥 Wall Street is taking President Donald Trump鈥檚 latest threat on tariffs in stride, on the whole, and U.S. stocks are opening higher. The S&P 500 rose 0.5% in early trading Monday, coming off a losing week bookended by worries about how potential tariffs could threaten the economy. The Dow Jones Industrial Average was up 261 points, and the Nasdaq composite was up 0.7%. Treasury yields ticked lower in the bond market after Trump said over the weekend that he will impose 25% tariffs on all steel and aluminum imports, as well as other import duties later in the week.
THIS IS A BREAKING NEWS UPDATE. AP鈥檚 earlier story follows below.
TOKYO (AP) 鈥 Global shares were trading mixed on Monday, as investors found bargains despite worries about U.S. President Donald Trump's .
France's CAC 40 edged up 0.2% in early trading to 7,988.29, while Germany's DAX rose 0.3% to 21,817.79. Britain's FTSE 100 added 0.4% to 8,738.98. U.S. shares were set to drift higher with Dow futures rising 0.2% to 44,507.00. S&P 500 futures gained 0.3% to 6,067.50.
In Asia, Japan's benchmark Nikkei 225 finished little changed, rising less than 0.1% to 38,801.17. The Japanese government reported a record current account surplus last year of 29 trillion yen ($191 billion), underlining strong returns on overseas investments, boosted by a weak yen and recovering Japanese exports.
The current account data, seen as a wide indicator for trade, grew nearly 30% from the previous year, to its highest since comparable records started being kept in 1985.
In currency trading, the U.S. dollar rose to 152.41 Japanese yen from 151.39 yen. The euro cost $1.0321, down from $1.0328.
Nippon Steel, whose attempt to buy U.S. Steel is opposed by Trump, as it was by former President Joe Biden, dropped 0.5%. Trump said at a joint news conference with Japanese Prime Minister Shigeru Ishiba on Friday that would instead invest in U.S. Steel.
Japan's government spokesman Yoshimasa Hayashi told reporters in Tokyo on Monday that Nippon Steel was preparing 鈥渁 bold proposal鈥 to invest in U.S. Steel that would result in 鈥渁 win-win鈥 for both nations. He did not give details. Nippon Steel declined to comment.
The Hang Seng index jumped 1.8% to 21,521.98, and the Shanghai Composite added 0.6% to 3,322.17, despite Trump鈥檚 tariffs on Chinese imports.
Technology shares were among the gainers, as hopes grew for Chinese stimulus measures. China is retaliating with tariffs on select American imports and has announced an antitrust investigation into Google.
Trump said he would act Monday to apply 25% tariffs on all steel and aluminum imports from all countries into the U.S.
Stephen Innes, managing partner at SPI Asset Management, believes markets are in for turbulence, noting Asian economies will feel the impact from the tariffs, including those on imports from Mexico and Canada.
Trump has given . But the newly announced 25% tariffs on all steel and aluminum imports would apply to them.
鈥淎sian markets are staring down the barrel of a volatile open,鈥 he said, while noting some of the effects may have already been factored in.
South Korea's Kospi lost less than 0.1% to 2,521.27. Australia's S&P/ASX 200 lost 0.3% to 8,482.80.
Markets are also watching for the latest earnings reports.
Honda Motor Co. and Nissan Motor Corp. both report earnings on Thursday, as speculation grows their talks to set up a joint holding company may unravel. Japanese media reports, all citing unidentified sources, sent both stocks gyrating over the past week. Honda finished down 0.9% Monday, while Nissan declined 0.8%.
In energy trading, benchmark U.S. crude added 40 cents to $71.40 a barrel. Brent crude, the international standard, rose 41 cents to $75.07 a barrel.
