Earnings for the second quarter will heat up this week, with more at stake than usual as they represent a fuller picture on how tariffs are actually affecting businesses and consumers. The top U.S. banks will report, starting with JPMorgan Chase, Citigroup and Wells Fargo on Tuesday. In the tech sector, streaming leader Netflix and chip giant TSMC report on Thursday. Among…
U.S. markets pointed lower on Sunday night as the Trump administration showed no signs of backing off on tariffs or Federal Reserve Chairman Jerome Powell. After Wall Street previously downplayed risks from President Donald Trump’s trade war, investors are starting to take his tariff threats more seriously. Trump continued his letter-writing blitz, warning the EU…
Wall Street thought it had President Donald Trump all figured out on his trade war, but the past week has raised concerns that investors may be wrong. Markets had dismissed tariff risks under the assumption that Trump would follow an earlier pattern and back off, in what became known as the so-called TACO trade. That allowed stocks…
On Thursday, President Donald Trump posted on social media that Canada would be subjected to an additional 35% tariff rate on products not already subjected to sectoral tariffs. The reason cited for the new tariffs was Canada’s own retaliatory tariffs, which it issued on March 12 in response to earlier levies imposed by the U.S. …
Rifle through Turkey’s car sales report for January and in the column next to Tesla’s name, you’ll find a big, fat zero. A lot has since changed. This June, Turkey nearly eclipsed the UK as the brand’s third-largest market in the world for the month. Tesla sold over 7,200 vehicles in the Eurasian country, within striking distance of the…
China has pushed back against US President Donald Trump’s threat to impose an additional 10 percent tariff on Brics nations, saying the bloc is not seeking confrontation and warning that tariff measures serve no constructive purpose.Responding to Trump’s remarks, the Chinese foreign ministry said on Monday, “The use of tariffs serves no one,” and reiterated…
U.S. stock futures tumbled on Friday after President Donald Trump said he will start sending out letters informing countries of what tariffs they will face. On Thursday, he told reporters that about “10 or 12” letters would go out Friday, with additional letters coming “over the next few days.” The rates would become effective Aug….
U.S. stock markets are holding onto their gains. Why are investors so confident that inflation risk will go away and the Fed will deliver more cheap money later this year? Because of the TACO trade. They seem to be betting that Trump’s tariff levels will go lower and that, in turn, the U.S. Federal Reserve…
U.S. stock futures were down marginally by 0.2% this morning following another all-time high by the S&P 500 index yesterday. Macro data is starting to look weaker. Consumer spending was down in May and the job market is getting worse for employees. That suggests the Fed may cut rates in September, analysts say, which would…
Despite significant macro risks ahead—including looming tariffs and weak consumer spending—markets remain buoyant, with the S&P 500 hitting a record high of 6,173.07 and futures rising further. Investors appear to be expecting either a tariff deadline extension or Federal Reserve rate cuts to support stocks. The S&P 500 set a new record on Friday and…