Arizona Tribune - Stocks higher with eyes on earnings, US tariff deadline

However the dollar slid against its main rival currencies.

Dozens of economies around the world including the European Union and India are set to face higher US tariffs on Thursday, as Trump's long-threatened "reciprocal" duties over trade practices he deems unfair take effect.

Trump also on Wednesday ordered an additional 25-percent tariff on Indian goods over New Delhi's continued purchase of Russian oil, a key revenue source for Moscow's war in Ukraine.

Separate 50-percent US tariffs on Brazilian imports came into place Wednesday, with significant exemptions, after Trump targeted Latin America's biggest economy over its prosecution of former president Jair Bolsonaro.

Kathleen Brooks, research director at trading group XTB, said "decent" corporate results in the United States and Europe were overshadowing concerns about a US economic slowdown and the impact of "Trump's continuing obsession with tariffs".

Wall Street's top stock indices were higher in midday trading.

Europe's main markets finished the day with gains.

Markets kept an eye on US tariff developments, with several countries still racing to strike deals before Thursday's levies kick in.

European investors are "in a relatively confident mood following a US-EU trade deal that eases concerns around tomorrow's tariff headline", said Joshua Mahony, chief market analyst at Rostro trading group.

Markets are "heavily focused on the likes of India and Switzerland", which have yet to reach a final agreement with Washington, he added.

In a Tuesday interview with CNBC, Trump said he was looking at hitting pharmaceuticals with tolls that would eventually reach 250 percent, while semiconductors were also in the firing line.

However, he signalled a more positive tone on talks with China, which analysts said helped boost Asian stocks.

In company news, shares in Danish drug giant Novo Nordisk fell 5.4 percent.

The group reported a sharp rise in second-quarter net profit, but rising competition is hitting sales of its diabetes and obesity treatments Ozempic and Wegovy in the United States.

In London, shares in Swiss mining and commodity giant Glencore shed 4.0 percent after it posted widening first-half losses on falling coal prices, US tariffs and Middle East tensions.

In the United States, Disney lifted its full-year earnings forecast after reporting higher quarterly profits as it added 1.8 million subscribers to its streaming platform.

However, investors appeared to focus on a drop in revenue from its linear TV business, with its shares falling 3.5 percent.

Shares in Apple jumped 5.6 percent after the White House said the firm would announce later Wednesday an additional $100 billion of investments in the United States, taking its total pledge to $600 billion over the next four years.

Shares in McDonald's climbed 2.9 percent after the fast-food chain posted a rebound in sales.

- Key figures at around 1530 GMT -

New York - Dow: UP 0.3 percent at 44,259.38 points

New York - S&P 500: UP 0.7 percent at 6,341.37

New York - Nasdaq Composite: UP 0.8 percent at 21,089.99

London - FTSE 100: UP 0.2 percent at 9,164.31 (close)

Paris - CAC 40: UP 0.2 percent at 7,635.03 (close)

Frankfurt - DAX: UP 0.3 percent at 23,924.36 (close)

Tokyo - Nikkei 225: UP 0.6 percent at 40,794.86 (close)

Hong Kong - Hang Seng Index: FLAT at 24,910.63 (close)

Shanghai - Composite: UP 0.5 percent at 3,633.99 (close)

Euro/dollar: UP at $1.1638 from $1.1582 on Tuesday

Pound/dollar: UP at $1.3344 from $1.3294

Dollar/yen: DOWN at 147.38 yen from 147.55 yen

Euro/pound: UP at 87.23 pence from 87.01 pence

Brent North Sea Crude: UP 0.9 percent at $68.22 per barrel

West Texas Intermediate: UP 1.0 percent at $65.79 per barrel

burs-rl/jj

A.Clark--AT