What a Trump presidency could mean for the dollar and the stock market
CNN
The almighty dollar is back.
A version of this story first appeared in CNN Business’ Before the Bell newsletter. Not a subscriber? You can sign up right here. You can listen to an audio version of the newsletter by clicking the same link. You can’t keep the dollar down. The US dollar has had a remarkably strong summer, and while its rise has eased in the days following a left-wing resurgence in France’s elections, it’s still on a gangbusters ride. The greenback is about 13% stronger (measured through the the Fed’s advanced foreign economy dollar index) than it was in 2021, before the Federal Reserve began raising interest rates. That’s great news for American tourists planning trips abroad this year (and they are, in record numbers), but not as good for the large, multi-national companies that make up the majority of the S&P 500. What’s happening: The most recent bump in the dollar is politically charged, but, at its core, it all comes down to the Fed. After showing a dead heat for most of the year, recent presidential polling has shifted in favor of former President Donald Trump over President Joe Biden. Should Trump’s advantage now turn into a win in November, that would likely mean the preservation or expansion of tax cuts and increased tariffs. During last month’s presidential debates, Trump reiterated his desire to impose a 10% tariff on all imports, which would likely increase inflation and cast doubt on interest rate cuts.
The soaring price of eggs has forced Waffle House to add a temporary surcharge on customers’ orders.
Lower-income Americans are likely to feel the brunt of the unprecedented tariffs President Donald Trump has set in motion.
Tariffs have dominated headlines since President Donald Trump took office just over two weeks ago, as he threatened steep, sweeping tariffs on goods the United States imports from its three largest trading partners — Mexico, China and Canada — on Tuesday.
Beijing announced tariffs on Tuesday on some American imports including originating crude oil, agricultural machinery and liquefied natural gas in a move that coincides with the Trump administration’s imposition of 10% tariffs on Chinese imports into the United States.
Samsung Electronics Chairman Jay Y. Lee was found not guilty of accounting fraud and stock manipulation by a Seoul appeals court on Monday, in a ruling that could remove long-running legal risks that he has faced from criminal cases.
State Farm General, California’s largest insurance provider, has requested an emergency interim rate hike averaging 22% for homeowners from state officials on Monday, citing a “dire” financial situation after destructive Los Angeles wildfires last month.
The Trump administration’s request for the raw material of a “60 Minutes” segment is raising red flags across the media industry.
The decade-by-decade figures show how much safer commercial airline travel has become in the United States.
The Kansas City Chiefs might make history this weekend, but ticket prices aren’t reflecting that.
The tariff on products imported from Canada will cost Americans 15 cents a gallon or more at the gas pump relatively soon. That’s not as much of a price hike as we could have seen.
Just about everyone thought it was a bluff. Top analysts from the biggest banks on Wall Street said it was highly unlikely. Stocks were trading like it wouldn’t happen. Some companies built contingency plans but they weren’t exactly rushing to make changes.
One of President Donald Trump’s sweeping executive orders has reignited a debate over the future of Alaska’s vast wilderness and resources, sparking deep concern among some environmental groups and Indigenous communities.
Asia markets slumped on Monday after Donald Trump slapped tariffs on Canada, Mexico and China, sparking fears that another bruising ‘America First’ trade war that could hit global growth.