Stocks Stumble as Trump Ramps Up Tariff Threats
Last night, President Trump announced plans to launch a 35% tariff against Canada starting August 1st, sending shockwaves through world markets. Trump has also been talking about a 50% tariff against Brazil bolstering recent threats against BRICS countries and their allies. With fears growing that the EU could potentially be next on his hit list, […]
Miners and Airlines in Focus Today
Investors have responded positively to the first notable earnings report of this quarter. Delta Air Lines is up 13.5% in premarket trading after beating street expectations for EPS ($2.10 vs street $2.06), and despite cutting its guidance for the year after management indicated that travel demand has stabilized. Earnings season officially gets underway next Tuesday […]
Copper Remains Active Around Tariff News
In the face of President Trump continuing to ramp up his tariff threats, including announcing a 50% tariff on copper, raising steel and aluminum tariffs, indicating that a 200% tariff on drugs could be on the way, and suggesting he may target other specific industries; equity markets have remained resilient. Overnight, the Nikkei rose 0.3%, […]
Markets Digest Growing Tariff Threats
Yesterday, President Trump sent out letters to 14 countries, headlined by Japan and South Korea, threatening to raise tariffs starting on August 1st if new trade deals are not reached by then. This news knocked US indices down 0.8%-0.9% and put pressure on markets sensitive to the health of the global economy, particularly Copper. Today finds […]
Growing Tariff Threats Rattle World Markets
World stock markets have stabilized from Friday’s declines as traders await the next developments in the ongoing tariff war between the US and everyone else. With the three-month moratorium ending on Wednesday, the White House has indicated that letters should start going out today to trade partners threatening to bring back the higher tariffs on […]
Holiday Hangover as Focus Turns Back to Tariffs
Boosted by a strong US nonfarm payrolls report US equities surged into an early close heading into today’s Independence Day holiday, with major indices posting gains of 0.7% to 1.0%. After markets closed, President Trump’s ‘Big Bill’ passed Congress, and with US traders having left for the long weekend stocks appear to have paused for […]
Stocks Soar on Strong US Job Numbers
Both US Nonfarm Payrolls (147K vs Street 110K) and US weekly jobless claims (233K vs Street 240K) have come in better than expected, sparking a rally in US index futures, which are now up 0.2%-0.3%, heading into tomorrow’s US Independence Day holiday. In other news, Trump’s ‘Big Bill’ continues to move toward a final vote […]
ADP Payrolls Add to a String of Disappointing Data
July is off to a choppy start so far for the stock markets. On Tuesday, US indices finished with a 0.8% loss for the NASDAQ and a 0.9% gain for the Dow. This morning finds US index futures trading between -0.2% and +0.1%, while in Europe the FTSE is down 0.1% and the DAX is […]
Stocks Rally as Trade Talks Get Back on Track
The last day of the month and quarter finds US indices taking another run at all time highs, with US index futures up 0.5%-0.7%. News that Canada has dropped the digital services tax on US companies, which was supposed to kick in today, has been greeted warmly, as it enables trade talks to resume. Overseas […]
Earnings Beats and Trade Deal Progress Increase Confidence
Boosted by growing reports that the US and China may be close or have reached a deal on trade, stock markets around the world have continued to climb overnight and into this morning. Overseas, the Nikkei rallied 1.3% while the Dax is up 0.7% and the FTSE is up 0.6%. US index futures are up […]