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Global Shares Mostly Lower on US Record07/11 04:47

   Global shares are mostly down on Friday after Wall Street closed at an 
all-time high with Delta Air Lines kicking off earnings season with a solid 
outlook for the rest of 2025, spurring an airline stock rally.

   MANILA, Philippines (AP) -- Global shares are mostly down on Friday after 
Wall Street closed at an all-time high with Delta Air Lines kicking off 
earnings season with a solid outlook for the rest of 2025, spurring an airline 
stock rally.

   In early European trading, Germany's DAX lost 0.9% to 24,246.86. In Paris, 
the CAC 40 shed 0.7% to 7,850.46, while Britain's FTSE 100 edged 0.2% down to 
8,956.81.

   In Asia, shares were mixed. Chinese markets were sharply higher in earlier 
trading, buoyed by signs of possible additional stimulus measures in China and 
Goldman Sachs Group's upgrade of Hong Kong stocks to market-weight. The gains 
were later trimmed, with the Hang Seng in Hong Kong finishing 0.6% higher to 
24,172.50, and the Shanghai Composite up 0.1% to 3,510.18 .

   Tokyo's Nikkei 225 closed 0.2% lower to 39,569.68, while South Korea's Kospi 
shed 0.2% to 3,173.77.

   Australia's S&P/ASX 200 slipped 0.1% to 8,580.10, and India's BSE Sensex 
fell 0.8% to 82,518.15.

   The S&P 500 futures was down 0.5%. The Dow Jones Industrial Average futures 
slid 0.6%.

   "Just as the market was catching its breath at new highs--drunk on Nvidia 
fumes and blissfully ignoring the dollar's quiet groan--President Trump tugged 
the rug again. A new act in the tariff opera: 35% duties on Canadian imports, 
with a sweeping upgrade in blanket tariffs now floating between 15% and 20%," 
Stephen Innes of SPI Asset Management said in a commentary.

   "Asian equities, initially hopeful, wilted into flat lines as if someone had 
pulled the plug on the optimism generator. There's a growing sense now that 
risk has become radioactive--tradable, but only in hazmat gloves," he added.

   On Thursday, Wall Street added to its recent milestones as the market closed 
at an all-time high after Delta Air Lines kicked off earnings season with a 
solid outlook for the second half of the year.

   The S&P 500 rose 0.3%, inching past the record it set last week after a 
better-than-expected June jobs report.

   The Nasdaq composite edged up 0.1%, enough of a gain to notch a new high for 
the second day in a row. The Dow Jones Industrial Average finished 0.4% higher.

   Delta surged 12%, bringing other airlines along with it, after beating Wall 
Street's revenue and profit targets. The Atlanta airline also gave a more 
optimistic view for the remaining summer travel season than it had just a 
couple months ago.

   The airline and other major U.S. carriers had pulled or slashed their 
forecasts in the spring, citing macroeconomic uncertainty amid U.S. President 
Donald Trump's tariff rollouts, which have consumers feeling uneasy about 
spending on travel.

   Meanwhile, bitcoin (BTC-USD) climbed to a new all-time high Thursday, 
breaking above $113,000.

   The token's price jump came amid bullish momentum across risk assets and 
coincides with Nvidia's surge to a $4 trillion valuation. It also comes days 
before the U.S. Congress' Crypto Week on July 14, where lawmakers will debate a 
series of bills that could define the regulatory framework for the industry.

   In other dealings on Friday, benchmark U.S. crude added 25 cents to $66.82 
per barrel. Brent crude, the international standard for oil prices, advanced 16 
cents to $68.80 per barrel. The dollar was trading at 146.85 Japanese yen, up 
from 146.20 yen. The euro slid to $1,1686 from $1.1704.

 
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