US stocks rise on Trump’s delayed tariff plan
CNN
US stocks opened higher Tuesday in the first full day of Donald Trump’s second presidency as traders absorbed a blizzard of executive orders that so far point to less aggressive action on trade.
US stocks opened higher Tuesday in the first full day of Donald Trump’s second presidency as traders absorbed a blizzard of executive orders that so far point to less aggressive action on trade. The Dow rose by just over 300 points, or 0.75%, in morning trading. The S&P 500 ticked up by 0.43% and the tech-heavy Nasdaq Composite moved higher by 0.1%. President Trump said in an Oval Office signing ceremony Monday that his administration would levy a 25% tariff on Mexico and Canada starting February 1. He did not mention a tariff on China, the US’ biggest trade partner. Asked Monday at an Oval Office signing ceremony about tariffs on China, Trump noted extensive tariffs he imposed during his first administration were still in effect after former President Joe Biden largely left them in place. Trump also implied that the US would implement tariffs on China if Beijing did not approve any deal on TikTok, which is facing a ban in the US due to questions about national security and scuttling the First Amendment. The dollar, which has been gaining in recent months in anticipation of Trump’s second term, was largely flat Tuesday morning after rising on news of Trump’s proposed tariffs.
US stocks rallied Friday as investors tried to stage a rebound to finish a rocky week, though all three major indexes were still on track to close the week in the red.
Gold prices reached $3,000 an ounce for the first time in history Friday, boosted by demand for safe-haven assets as investors fret about President Donald Trump’s tariffs and geopolitics.
The Trump bump in consumer sentiment is now a Trump slump.
On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda.
For craft brewers, an industry largely consisting of small businesses and where the product is made in steel plus packaged in aluminum, the newly applied tariffs are having a direct strike on their bottom lines.
President Donald Trump has said that automakers can avoid his tariffs by simply moving production to American plants. But it’s not that easy. Not by a long shot.
China has sharply criticized a proposal to sell ports in the Panama Canal to American asset management giant BlackRock, attacking the deal as “spineless groveling” and a “betrayal” of the Chinese people.
Bill Pulte, who was confirmed by the US Senate on Thursday to lead the Federal Housing Finance Agency for the Trump administration, said he’s in no rush to privatize Fannie Mae and Freddie Mac, the mortgage behemoths that power more than half of America’s mortgages.
Tesla, the electric car company run by Elon Musk, said this week that retaliatory tariffs against US manufacturers could harm its operations and that the US should carefully consider its trade policies, a break from Musk’s ally President Donald Trump.
US stocks slid Thursday and the S&P 500 entered into correction territory, down 10% from its record high in February, as President Donald Trump threatened new tariffs on the European Union.
President Donald Trump on Thursday threatened to impose a massive tariff on European alcohol in response to the European Union’s retaliation against his steel and aluminum tariffs – a tit-for-tat escalation of a trade war that could easily get out of hand.
The Producer Price Index, a wholesale inflation gauge that is being closely watched for tariff-related impacts, showed that price hikes slowed substantially in February.
Meta CEO Mark Zuckerberg told lawmakers in a Congressional hearing last January that it didn’t make sense for his platforms to verify how old their users are in order to serve them age-appropriate experiences. Instead, that responsibility should lie with app stores, he said.