Stock market today: Nasdaq futures slip to lead S&P 500, Dow lower as Google earnings fall short - chof 360 news

Toyota Motor (TM)raised its full-year operating profit forecast by 9%, signaling confidence in its ability to weather any potential US tariffs.

The world's top-selling automaker updated its profit projection for the fiscal year ending March 2025 to 4.7 trillion yen ($30.7 billion), up from the previous forecast of 4.3 trillion yen.

In addition, Toyota announced plans to set up a wholly owned subsidiary in Shanghai to develop and produce electric vehicles and batteries for its Lexus brand. Production is expected to begin in 2027. The new unit will focus on creating a new Lexus EV with an initial annual production capacity of around 100,000 units.

Despite posting weaker-than-expected third quarter results and marking its second consecutive quarterly profit decline, Toyota's confidence in its future performance remains strong.

Gold (GC=F) has surged to a record high, climbing nearly 1% as the first shots of the US-China trade war increase demand for haven assets.

The price of bullion hit an all-time high, topping $2,854 an ounce on Wednesday. This spike followed President Donald Trump’s move to impose a 10% tariff on Chinese imports.

China’s retaliatory efforts have been less aggressive compared to earlier trade conflicts, when tariffs were nearly on par with the U.S. However, concerns remain about the potential impact on the world’s two largest economies. Markets are also closely watching to see if these renewed tariffs could trigger inflationary pressures, which might influence US monetary policy.

Asian stocks were mostly lower Wednesday as markets digested the impact of the trade tensions brewing between China and the US.

The CSI 300 Index (000300.SS) quickly erased its initial gains on the first trading day after the Lunar New Year holiday closure, falling by 0.6%.

Japan's benchmark Nikkei 225 (^N225) slipped 0.2% in early trading. Australia's ASX 200 (^AXJO) rose 0.5%, while Hong Kong's Hang Seng (^HSI) dropped 0.6%. South Korea’s Kospi (^KS11) jumped 1.1%

What started as a relatively calm day quickly became volatile after news broke that the US Postal Service would temporarily halt inbound parcels from China and Hong Kong. This move came just one day after both the US and China imposed tariffs on each other’s exports. Although there are still hopes for a deal to ease tensions, investors are pulling back as uncertainty lingers.

The stock outlook remains unclear, largely dependent on further developments in tariff negotiations and China's economic recovery. US President Donald Trump stated there is no urgency to speak with Chinese President Xi Jinping.