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Wall St Week Ahead: Industrial sector gains will be tested as earnings increase
The Industrial sector has been the leader for U.S. stocks during a turbulent year on Wall Street. But its strength will be put to the test as earnings season gets underway. S&P 500 Industrials, which includes aerospace companies, electrical and machinery manufacturers, transportation companies and building products firms, has gained 15% in 2025. This is the best performance year-to date of all 11 S&P 500 sectors, and it's more than twice the index's overall gain. The industrials sector will continue to be in the spotlight with a week full of earnings reports, including those from over one-fifth (50%) of the S&P 500. Alphabet, Tesla and other "Magnificent 7" tech and growth giants are the first to announce. S&P 500 is up 26% since April as investors have shaken off fears of a recession that were sparked by President Donald Trump’s "Liberation Day tariff" announcement. Chuck Carlson is the chief executive officer of Horizon Investment Services. He said that this earnings season was "especially important" because of the recent market rebound. "I'd think that this has created a good deal of optimism for earnings." A few industrials will also be in the spotlight for their earnings. The sector has seen a boost in performance due to the increased geopolitical tensions between the Middle East, Ukraine and Germany. S&P 500 aerospace & defense has risen 30% in the past year. RTX Lockheed Martin, General Dynamics and RTX are among the defense companies that will be reporting in the next week. GE Aerospace's profit forecast for 2025 was raised on Thursday. The company's shares have risen by about 55% in the past year. GE Vernova shares, a company that was spun off last year from the legacy General Electric, have soared over 70% in value this year. It is now the best performing industrial stock. The results of the power equipment manufacturer are due on Wednesday. Robert Pavlik is a senior portfolio manager with Dakota Wealth Management. He said that the push for reshoring and expansion of artificial intelligent, which have boosted demand for cooling systems, factory automation and other products, has supported several stocks in this industry. Uber shares, which are up about 50% this year, have also been a major supporter of the industrial sector. Nicholas Colas said, "Unlike many non Tech groups, this group has a number of solid stories that do not rely on macro-forces to deliver solid returns in the future," Colas wrote on Wednesday. Colas noted that large cap industrials are still attractive, despite their recent performance. Industrials are a sector that has historically been closely linked to the economy. However, the performance of this sector has suffered due to the decline of a number growth-cycle stocks. Shares in package delivery companies UPS and FedEx are down sharply, and shares of airlines such as United Airlines and trucking firms like JB Hunt Transport Services have also been negative this year. Walter Todd, Chief Investment Officer at Greenwood Capital, said that there are "economically sensitive" (areas) in industrials which are not performing well. Honeywell, Union Pacific, and United Rentals are also scheduled to report this week. Wall Street is focused on the trade situation, as well as earnings. The U.S. will be increasing tariffs against a number of trading partners on August 1. Investors are also keenly interested in the news about the Federal Reserve. Fed chair Jerome Powell is under renewed pressure to resign from Trump, who wants the central bank's interest rates to be lowered. The Fed's monetary policy meeting will be held on July 29-30. S&P 500 is up about 7% this year. Eric Kuby said that the market showed resilience in spite of "an incredible amount" of uncertainty. He is chief investment officer for North Star Investment Management Corp. Kuby stated that "we continue to be amazed at how well the stocks are trading despite what appears to be significant headwinds."
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As Typhoon Wipha heads towards mainland China, Hong Kong is battered by rains.
Hong Kong was drenched in rain on Sunday, as Typhoon Wipha skirted the south, with winds of 167 kph. (103 mph). This caused 400 flights to be cancelled, public transport disrupted, hundreds of trees were felled, and a construction site damaged. After 4 pm on Sunday, the weather authorities in the Asian financial center lowered the typhoon warning to 8, from the maximum 10, which was hoisted for almost seven hours. Meanwhile, more than 110mm (4 inches of rain) fell within three hour. The city's observatory warned of more rain to come. In a press release, the government reported that 26 people sought medical treatment at public hospitals while 253 people flocked to shelters and 471 trees fell. North Point, near the harbour of the city, saw large sections of scaffolding swept from a residential building onto the road. State-run broadcaster CCTV reported that as Wipha moves westwards across the South China Sea, it will likely make landfall between Zhuhai Zhanjiang and Guangdong province in southern China later on Sunday. TDM reported that authorities in Macau, which is the world's largest gambling hub, have also reduced the typhoon warning to 8 from 10. They warned of flooding in the inner harbour and encouraged residents to remain safe. Hong Kong's Airport Authority said that 80,000 passengers were affected by the cancellation of 400 flights due to the typhoon. Cathay Pacific Airways has cancelled all flights to Hong Kong between the hours of 5 am and 6 pm on Sunday. It waived the ticket change fee and arranged a rebooking. In the face of high seaswells, most public transportation in Hong Kong has been suspended. This includes ferries. Reporting by Colleen howe, Farah master, Joyce Zhou, and Amy Lv, Editing by Christopher Cushing, Clarence Fernandez
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Vietnam searches for four missing tourists after a sudden storm capsizes a tourist boat
Authorities said that dozens of rescuers in Vietnam were searching for four missing persons on Sunday after recovering the bodies of those killed by a storm which capsized a boat at Halong Bay. Rescuers from border guards and police to divers and navy personnel were struggling with limited visibility despite a calm sea hours before Typhoon Wipha was expected to land in the northern Vietnam. The typhoon is now heading towards Hong Kong. Officials fear that the death toll may still increase. The government reported on Saturday that rescuers were able to recover the sunken vessel and revised the initial death toll down to 35, from 38. Vietnam News Agency reported that all the passengers were Vietnamese, and included several children. "My brother is a good swimmer, but everything happened so fast," Tran Trung Tu told a funeral parlor on Sunday. His sibling, Tran Trung Tu was 32. The accident is one of the most serious in recent memory in the UNESCO protected archipelago, a group of thousands limestone islands located about 200 km (125 mi) northeast of Hanoi. This area attracts tens and thousands of tourists each year. In a matter minutes, the sudden thunderstorm covered the sky in darkness, causing trees to fall in Hanoi. Officials at the Noi Bai International Airport said that nine flights had been diverted, and three departures were temporarily halted. Do Thi Thuy, an insurance agent, said: "This is the first accident I've ever seen with this many victims." In 2011, a tour boat that was carrying foreign tourists sank on Halong Bay, killing 12 people. The government claimed that the accident was due to a "sudden storm". Around the time of the accident, which occurred at 2 pm on Saturday, there were reports of strong winds, heavy rainfall and lightning. Do Van Hai (42), a resident of Halong, said, "I was informed that life vests were readily available, but the announcement was too abrupt." "Hopefully the missing ones will soon be found." Reporting by Thinh Nguyen and Phuong Nguyen, Halong; writing by Francesco Guarascio and editing by Edmund Klamann and Clarence Fernandez
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The death toll in the Vietnam tourist boat crash has risen to 38
Rescuers continue to look for survivors as they prepare for Typhoon Wipha's approach. One of the worst boating incidents in recent years occurred in a popular tourist area when a vessel carrying 48 tourists, five crew members and a captain capsized Saturday afternoon. In a press release, the government stated that "at least 38 people on board were confirmed dead" and 10 others had been rescued. Vietnam News Agency, the official news agency of Vietnam, reported that all tourists are Vietnamese including children. Rescuers from all sectors, including police, border guards, naval personnel and professional divers have been mobilized. Despite the calm sea, poor visibility made rescue operations difficult. The government reported that rescuers were able to recover the sunken vessel. The accident occurred around 2 pm local time (0700 GMT), on Saturday, shortly after Typhoon Wipha had entered the South China Sea. Authorities reported heavy rain, strong winds and lightning at the time, but said that the conditions were not caused by the approaching Typhoon, but rather were a result of wind patterns in the northern region. Halong Bay is located about 200 km (125miles) northeast of Hanoi and attracts thousands of tourists every year. The boat tours are especially popular. In 2011, a tourboat in Halong Bay sank, killing 12 people. Among them were foreign tourists. The third typhoon to hit the South China Sea in this year is expected to land on the northern coast of Vietnam early next week. (Reporting and editing by Edmund Klamann; Phuong Nguyen)
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Hong Kong issues the highest level of storm warning as Typhoon Wipha approaches
Hong Kong issued the highest storm warning Sunday, as Typhoon Wipha brought wind and rain to the territory with winds exceeding 167 km/h (103 miles/h). More than 200 flights were cancelled. The city's meteorological observatory increased its storm warning to No. The city's weather observatory raised its storm signal to No. 10 at 9:20 am (0120 GMT). It said that it expects it to stay at this level "for a while". The warning indicated that Wipha would skirt 50 km south of the observatory. The observatory reported that a hurricane-force wind was affecting southern Hong Kong. Cathay Pacific Airways has cancelled all flights departing or arriving at Hong Kong Airport between the hours of 5 am and 6 pm on Sunday. It waived the ticket change fee and made arrangements to allow customers to rebook. On Sunday, most public transportation was suspended including ferries due to high sea swells. (Reporting and editing by Christopher Cushing; Colleen howe)
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Azerbaijan's leader wants Russia to acknowledge that it accidentally shot down a passenger plane, killing 38
Ilham Aliyev said on Saturday that he wants Russia to publicly admit it accidentally shot down a passenger plane from Azerbaijan in December of last year. The 38 people aboard were killed. He also wants Russia to punish the responsible parties. At the time, President Vladimir Putin apologized to Aliyev over what the Kremlin referred to as a "tragic event" in Russia where an Azerbaijan Airlines aircraft crashed after Russian air defenses opened fire on Ukrainian drones. He did not say that Russia shot down the plane. Aliyev made it clear at a press conference held in Khankendi, during an event titled The Global Media Forum that he expected more from Moscow, whom he blamed for inaction after the downing the airliner. "We can prove that we know what exactly happened." "We are also confident that Russian officials know what happened," Aliyev added. The real question is, "Why didn't they act like any neighbour would?" Azerbaijan expects the incident to have been formally acknowledged and that those responsible will be held accountable. Compensation should be paid to the families of victims and injured and Moscow should reimburse the cost for the destroyed aircraft. He said that "these are normal expectations within the frameworks of international law and good neighbourly relations." After diverting from southern Russia where Ukrainian drones had been reported attacking several cities, flight J2-8243 crashed near Aktau, Kazakhstan. The flight crashed near Aktau in Kazakhstan after diverting from southern Russia, where Ukrainian drones were reported to be attacking several cities. The ties between Moscow and Baku have deteriorated significantly in recent months, after Russian police arrested a group ethnic Azerbaijanis who lived in Russia and accused of them of historical crimes. Aliyev, speaking at the same conference, said that he wanted to open a transit route between Azerbaijan's exclave Nakhchivan and Armenia. Aliyev stated: "We're talking about an unhindered state access between Azerbaijan and Azerbaijan. We take this literally - we're talking about connecting parts of a country. He stated that, when and if it is established, Azerbaijani passengers on trains should not be in danger of being attacked by Armenians who he claimed threw stones at these trains during the Soviet period. He also called for "reliable, verifiable and transparent" security assurances. Aliyev stated that the demand was "absolutely legal and fair". On July 16, Nikol Pashinyan, the Armenian prime minister, said that the U.S. offered to manage a potential transport corridor. Baku wants to secure the potential corridor that would run approximately 32 km (20 miles), through Armenia's southern Syunik Province, connecting Azerbaijan's majority to Nakhchivan (an Azerbaijani enclave bordering Baku's Turkish ally). The transit link is just one of many obstacles to a deal for peace between Azerbaijan, a neighbour in the South Caucasus who has fought wars with Armenia since the 1980s. In March, the countries announced that they had completed a draft of a peace agreement. However, it is unclear when this will be signed. (Reporting and editing by Andrew Osborn.)
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US threatens Mexican airlines flights over airline competitive issues
The Trump administration announced Saturday that it will take a number of actions against Mexico in response to the Mexican government's decision to cancel some flight slots for U.S. airlines and to force U.S. freight carriers to relocate their operations to Mexico City. Sean Duffy, the U.S. Transportation secretary, said that if Mexico fails to respond to U.S. concerns about decisions made in 2022 or 2023, the department may disapprove Mexican flight requests. Department of Transportation also proposes to remove antitrust immunity for the joint venture between Delta Air Lines and Aeromexico in order to address issues with the competitive market. Mexico is the top international destination for American airline passengers. Delta did not respond to a request for comment. The Transportation Department stated that Mexico has been non-compliant with a bilateral agreement on air travel since 2022, when it abruptly cancelled slots and forced U.S. cargo carriers to relocate their operations in 2023. The Mexican Transport Ministry was asked to comment on the orders. Duffy stated that Mexico was supposed to allow construction at Mexico City's Benito Juarez International Airport to relieve congestion, but this has not yet materialized three years after the announcement. The Department of Transportation said that Mexico had broken its promise by restricting slots and mandating all cargo operations to leave MEX. This has disrupted the market and cost American businesses millions. The Transportation Department has issued two orders that require Mexican airlines to submit schedules to the department for their U.S. operations. They also need to obtain prior U.S. approval to operate any charter flights of large passenger aircraft or cargo aircraft to or from the United States. The department stated that Mexico has changed the competitive landscape for airlines, allowing dominant competitors to gain unfair advantages in the U.S.Mexico market. Mexico's actions hurt airlines that are looking to enter the market as well as existing competitors, air travelers and companies who rely on air cargo shipments between the U.S. and Mexico, and other stakeholders of the American economy. The U.S. could revoke antitrust approval of Delta and Aeromexico. They would have to cease cooperation on common pricing and capacity management. However, Delta would still be able retain its equity stake and fly as usual in the U.S. Mexico market. (Reporting and editing by Diane Craft; Additional reporting by Kylie Madry)
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Officials say that Poland has fixed the fault that temporarily disrupted flights.
Polish authorities confirmed that they have fixed the fault in their air traffic control system which briefly disrupted Saturday morning take-offs from Warsaw and several other cities. Operations are now back to normal. By midday, the Chopin Airport in Warsaw reported that take-offs & landings had resumed as normal. Outages earlier forced the authorities to restrict flights in Polish airspace. There were also problems reported at airports in Krakow and Katowice, as well as Gdansk. The Polish Air Navigation Services Agency, PANSA, wrote in a press release that the temporary problems were due to a fault which was quickly resolved. It did not provide any further information on the fault. The agency reported that the "primary air traffic management system" was fully restored after all the necessary procedures were implemented. It added that backups kept safety systems operating during the outage. The Interior Ministry had earlier stated that the security agency investigated the outage, and conducted routine checks to look for sabotage. Russia has denied the accusations. (Reporting and editing by Karol Badohal, Jason Hovet and Andrew Heavens; with reporting by Karol Bádohal and Jason Hovet)
The South Korean NOFI has issued tenders for up to 138,000 metric tonnes of corn
European traders reported on Tuesday that the leading South Korean feedmaker Nonghyup Feed Inc. has announced an international tender for up to 138,000 tons of animal feed grain.
Also, the deadline for submitting price offers to the tender is Tuesday, June 10
Two consignments ranging from 45,000 to 69,000 tonnes of corn are required for arrival in South Korea.
First consignment to arrive in South Korea is expected around September 20.
Shipping is required between August 13 and September 1, if the product comes from the U.S. Pacific Northwest Coast, or if it comes from the U.S. Gulf coast between July 24 and August 12, South America between the dates of July 19 to August 7, or South Africa between the dates of August 3-22.
Second consignment expected to arrive around 30 September
If the shipment comes from the U.S. Pacific Northwest Coast, it is between August 23 and September 11, the U.S. Gulf of Mexico between August 3-22 or South America between July 29 and August 17; or South Africa between August 14-September 1.
The sellers have the right of choice in the origins they supply. Traders said that they were looking for offers in both outright prices per ton and c&f as well as a premium on the Chicago September 2025 Corn contract.
The traders reported that Asian demand was stimulated after Chicago corn futures dropped more than 2% Monday, partly due to the favorable conditions for U.S. crops and uncertainty regarding export demand.
The South Korean Korea Feed Association has also released an international tender for the purchase of up to 68,000 tonnes of feed corn. This tender closes on Tuesday. Michael Hogan reported, Kirby Donovan edited.
(source: Reuters)