The latest Market Talks covering the Auto and Transport sector. Published exclusively on Dow Jones Newswires at 4:20 ET, 12:20 ET and 16:50 ET.

0729 GMT - European car stocks fall in early trade after President Trump said he was doubling the tariff on imported steel and aluminum and new data showed French car registrations dropped sharply in May. Jeep maker Stellantis is the biggest decliner among European carmakers, down 3.9%. Mercedes-Benz and Renault shed more than 3%, while Volkswagen, BMW, Porsche and Volvo Car all fall more than 1%. The declines track losses among car stocks in Asia, where Toyota, Honda, Nissan, Kia and Hyundai all closed lower. Trump said tariffs on imported steel, as well as aluminum, would increase to 50% from the current 25%, effective Wednesday. Meanwhile, French auto industry group PFA said new-car registrations--which reflect sales--in May fell 12% compared with a year earlier to 123,919.(adria.calatayud@wsj.com)

0612 GMT - Cummins India's FY 2026 earnings outlook appears positive, Nomura's Umesh Raut says in a research report. Management remains confident in achieving double-digit revenue growth in FY 2026, attributing this projection mainly to stable domestic demand prospects, the analyst notes. Also, management anticipates widespread growth within the power generation segment, driven by expansion in data centers, manufacturing, and infrastructure, the analyst says. Moreover, the power solution provider's industrial segment is expected to grow consistently, partly underpinned by sustained momentum in the construction sector, the analyst adds. Nomura raises the stock's rating to buy from neutral and the target price to INR3,800.00 from INR3,740.00. Shares are 0.6% higher at INR3,287.75. (ronnie.harui@wsj.com)

0220 GMT - Major Japanese manufacturers, such as Toyota Motor and Nippon Steel, will likely overcome the negative impact of Trump's tariffs in the next two to three years, according to Rakuten Securities strategist Masayuki Kubota. "If [Nippon Steel's acquisition of U.S. Steel] is realized, it would increase Nippon Steel's production in the U.S., which would in turn increase Toyota and other Japanese automakers' procurement in the U.S. and help mitigate the impact of U.S. tariffs on auto, steel and aluminum," Kubota says in a research note. He adds that it might be difficult for Japan to win an exemption from those tariffs, although it could avoid additional so-called reciprocal tariffs other than a 10% baseline duty. (megumi.fujikawa@wsj.com)

(END) Dow Jones Newswires

June 02, 2025 04:20 ET (08:20 GMT)

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