Wall Street inched to another record after some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Trump's tariffs are hurting or helping them

Prices have gone up incredibly,” said one cafe manager. “We have to decide how much of that we want to absorb or pass on. It’s a tricky balance.”

The president imposed tariffs on Japan, one of America’s closest allies, that would have been alarming just months ago. And markets went up.

Rising summer temperatures drove Saudi Arabia to become Russia's largest seaborne fuel oil customer in June, allowing the kingdom to export more of its crude oil at higher prices.

BERLIN (Reuters) -German Chancellor Friedrich Merz will host French President Emmanuel Macron for talks over dinner in Berlin on Wednesday, with Europe's battle to soften incoming U.S. tariffs and support for Ukraine expected to top a packed agenda.

Equinor (NYSE:EQNR) shares waver between modest gains and losses after saying it booked $955M in impairments related to its U.S. offshore wind projects due to regulatory changes affecting the offshore wind industry in the country and increased exposure to tariffs.

Freeport-McMoRan stock fell after the miner trimmed its full-year guidance. The mining company says tariffs could cause the cost of goods purchased to rise by 5%.

General Motors said tariffs slashed its second-quarter income by more than $1 billion, and other companies pointed to import duties to explain smaller profits.

Steel producers like Cleveland Cliffs and Steel Dynamics both said this week that they raised prices after President Trump imposed a 50 percent tariff on imports.

The European Commission plans to submit counter-tariffs on 93 billion euros ($109 billion) of U.S. goods for approval to EU members, while its trade chief will hold talks with U.S. Commerce Secretary Howard Lutnick.

Brazil’s onerous taxes and political turmoil make investors wary, but an international court ruling could change their minds.