HONG KONG — Asian stocks were mixed on Tuesday after the Dow Jones Industrial Average climbed to an all-time high and Big Tech companies pulled the S&P 500 and the Nasdaq composite lower.
U.S. futures fell. Oil prices eased from their recent highs, which had been driven by heavy fire between Israel and Hezbollah on Sunday.
China’s industrial profits jumped 4.1% in July compared to the previous year, with overall profits for the first seven months increasing 3.6%, bringing hopes to the market amid sluggish domestic demand, a housing downturn and employment worries.
But additional tariffs on China are clouding its manufacturing prospects. Canada announced a 100% tariff on the import of Chinese electric vehicles and a 25% tariff on Chinese steel and aluminum on Monday, with the measures set to take effect on Oct. 1. This will apply to all EVs shipped from China, many of which are Tesla cars produced in the country.
The automaker…
