Market

Trump's new tariffs on Canada, Mexico, and China are unsettling Wall Street, with economists and strategists warning of pain for the economy. Key insights from analysts include: a recession in Mexico, higher US inflation, slower US growth, pressure on US equities, potential strength in services over consumer goods, symbolic retaliation from China, increased demand for US Treasury duration, potential risk to Alcoa, GrafTech, and Cleveland Cliffs, increased import costs for Swiss companies, and uncertainty for the final outcome of the trade war.

Published on: February 03, 2025, 12:02 PM UTC

US stock futures signal sharp losses on Monday as Wall Street reacts to President Donald Trump's announcement of tariffs on China, Mexico, and Canada. Nasdaq 100 futures lead the decline, while S&P 500 and Dow Jones Industrial Average futures also point to significant drops. The tariffs, set to take effect on Tuesday, include duties on goods from all three countries, raising concerns about a trade war and its impact on the economy and markets.

Published on: February 03, 2025, 12:02 PM UTC

President Trump's crypto coin has generated an estimated $86 million to $100 million in trading fees in less than two weeks, according to blockchain analysis firms. The meme coin, known as $Trump, was launched by Trump on January 17th and quickly surged in value, reaching a peak of over $14.5 billion before slumping by two-thirds. The creators of the coin receive a share of the trading fees from Meteora, a crypto exchange where the coins were first sold. At least fifty of the largest investors in the coin have made profits in excess of $10 million each, while some 200,000 crypto wallets with small holdings have lost money.

Published on: February 03, 2025, 12:01 PM UTC

Hedge funds unloaded global stocks and increased short bets ahead of Trump's tariff announcement, which triggered a market sell-off.

Published on: February 03, 2025, 12:00 PM UTC

Goldman Sachs forecasts that if the US' latest trade tariffs persist, they could reduce S&P 500 earnings by 2-3%, potentially impacting the equity market depending on investor sentiment towards their longevity.

Published on: February 03, 2025, 12:00 PM UTC

OPEC+ to likely stick to gradual output hike plan despite US pressure

Published on: February 03, 2025, 12:00 PM UTC

Amidst escalating trade tensions, US stock futures are indicating steep declines with Nasdaq 100 futures leading the drop. President Trump's announcement of tariffs on China, Mexico, and Canada has rattled Wall Street and raised concerns about retaliatory measures. The energy sector is poised for a surge as crude oil futures jump in response to the tariffs.

Published on: February 03, 2025, 11:01 AM UTC

Trump's tariffs on China, Canada, and Mexico send industrial metals tumbling on LME, with copper down 0.9% and iron ore declining 1.4%; China vows countermeasures as trade war looms, threatening global economic growth and metals demand.

Published on: February 03, 2025, 11:00 AM UTC

Wall Street banks like Goldman Sachs and JPMorgan believe the US dollar has plenty of room to grow, even after President Trump's tariffs caused its value to skyrocket.

Published on: February 03, 2025, 11:00 AM UTC

Stocks plummet as Trump's tariffs spark global trade war concerns, with automakers and tech giants hit hardest.

Published on: February 03, 2025, 11:00 AM UTC