Tag: technology

US stocks suffered losses on Monday in reaction to President Donald Trump's announcement of tariffs against China, Mexico, and Canada. However, the major indices reduced their losses mid-morning after Trump said he would postpone tariffs against Mexico by a month. The tech-heavy Nasdaq Composite (^IXIC) was down around 1%, recovering approximately half of its earlier losses. Meanwhile, the S&P 500 (^GSPC) dropped roughly 0.6%, and the Dow Jones Industrial Average (^DJI) moved 0.2% lower. Consumer discretionary (XLY) stocks, which include automakers, were hit the hardest early in the day. Tech (XLK) also affected markets, with declines in shares of AI chip giant Nvidia (NVDA) and iPhone maker Apple (AAPL).

Published on: February 03, 2025, 05:01 PM UTC

The Chancellor has not ruled out cutting relief on cash Isas. Rachel Reeves should scrap them because the £300bn stashed away is unproductive and costs £20bn a year in lost taxation.

Published on: February 03, 2025, 05:00 PM UTC

Canada's energy sector escapes major trade war damage with lower tariffs and potential exemptions for some exports.

Published on: February 03, 2025, 04:03 PM UTC

Trump's tariffs on Canada, Mexico, and the EU face opposition but few expect quick reversal; legal challenges likely, but courts may defer to national security claims.

Published on: February 03, 2025, 04:03 PM UTC

The US bond market warns President Trump that his tariffs may fuel inflation and slow economic growth. The risk of higher import prices rekindling inflation has hovered over markets since Trump's election. Traders expect the nascent trade war to deal a fresh shock to the resilient economy, narrowing the gap between 2- and 30-year bond yields.

Published on: February 03, 2025, 04:01 PM UTC

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Published on: February 03, 2025, 04:00 PM UTC

Analysts predict a possible sharp correction in Canada's stock market following Trump's tariffs on Canadian imports.

Published on: February 03, 2025, 03:05 PM UTC

Canada's energy sector may have dodged a trade war bullet, with the US imposing a lower 10% tariff on crude and potentially exempting some shipments altogether. While the tariffs could disrupt the integrated North American energy market, Canada has partial shields in place, including the expanded Trans Mountain pipeline.

Published on: February 03, 2025, 03:05 PM UTC

Trump's tariffs on Canada, Mexico, and China send shockwaves through Wall Street, with analysts predicting pain and a hit to economic growth. Morgan Stanley sees a recession in Mexico and a drag on US growth. EvercoreISI warns of inflation and a slowdown. JP Morgan highlights the financial risks to metals companies. Bernstein notes the impact on risk-on sentiment and crypto markets. Vontobel emphasizes the uncertainty and the need for Swiss companies to adapt. Deutsche Bank anticipates a recession in Canada and Mexico and a boost to the US dollar. BMO Capital Markets recommends focusing on quality companies and dividends. TD Securities expects a reduction in Fed easing pricing and a selloff in the US short end. Stifel warns of supply chain disruptions and inflationary pressures for footwear and apparel companies.

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

Robinhood Launches Event Contracts for Super Bowl LIX, Marking Foray Into Sports Betting

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