These 5 stocks are driving the market
CNN
Despite anxiety about inflation and the Omicron variant, the stock market is on track for another banner year. That's in large part thanks to stellar gains from just a handful of stocks.
What's happening: According to new research from Goldman Sachs, just five companies — Microsoft (MSFT), Apple (AAPL), Nvidia (NVDA), Tesla (TSLA) and Google parent Alphabet (GOOGL) — have contributed 51% of S&P 500 returns since April. Going back to the beginning of the year, they account for more than a third of the index's rise.
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What was supposed to be a historic, era-defining trade war launched by US President Donald Trump against range of countries has, for now, narrowed in on a singular target: China.
“I guess they say it was the biggest day in financial history,” President Donald Trump told reporters Wednesday afternoon. Later, in an apparent hot-mic moment, he told a fawning senator that the market was up almost seven percentage points. “Nobody’s ever heard of it. It’s gonna be a record.”
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President Donald Trump announced a complete pause on all the “reciprocal” tariffs that went into effect at midnight, with the exception of China.
US Trade Representative Jamieson Greer is set to testify Wednesday to House Ways and Means Committee on President Donald Trump’s aggressive trade agenda as reciprocal tariffs go into effect.
China unveiled retaliatory tariffs of 84% on imports of US goods on Wednesday, matching additional tariffs imposed by US President Donald Trump earlier in the day and further inflaming a trade war between the world’s two biggest economies.
“Liberation Day” came and went, with President Donald Trump’s sweeping new tariffs battering markets, unsettling the global order, and prompting businesses and households to reconsider their spending.
President Donald Trump, during his announcement last week of sweeping tariffs on countries around the world, called groceries an “old-fashioned” and “beautiful term.” But his policies will make America’s groceries more expensive today, supermarket executives and food industry experts say.
China has promised to take “resolute and effective measures” to safeguard its rights and interests after US President Donald Trump’s 104% tariffs on Chinese imports took effect on Wednesday.
Asian stocks were mostly lower and US stock futures tumbled Wednesday after President Donald Trump’s enormous “reciprocal” tariffs went into effect, upending global trade.
Despite rattled financial markets, threats of retaliation and some of President Donald Trump’s biggest supporters encouraging him to back off his signature economic policy, he didn’t give in. His administration piled on heaps of new “reciprocal” tariffs Wednesday on dozens of American allies and adversaries alike, aiming to — as he claims — restore fairness and boost American manufacturing.
What was a massive rally on Wall Street has turned into yet another sizeable decline.
Elon Musk took another jab at President Donald Trump’s senior trade adviser Peter Navarro Tuesday, calling him a “moron” on social media as the Tesla CEO further splits from the White House’s tariffs plan.