Author: FX
Executive order on Canada/Mexico/China come into effect on Feb 4New Canada tariffs don’t apply to goods loaded onto vessels or in transit before Feb 4Can remove new Canada tariffs if enough steps taken to reduce health crisisCanada is promising to announce retaliation later today after he speaks with Mexico’s President (whom we haven’t heard from).I still see room to negotiate here and the delays to implementation hint at an opening. The WSJ isn’t pulling any punches. This article was written by Adam Button at www.forexlive.com. Source link
Reaction to Trump's imposition of tariffs on Mexico, Canada, China Source link
Feb. 01, 2025 6:30 PM ETDIS, AAPL, AMZN, MSFT, CMCSA, T, GM, BA, MA, INTC, PEP, XOM, PFE, SBUX, LLY, CVX, LMT, HON, TMUS, KKR, V, PM, TSLA, META, GOOGL, UBER, PLTRBy: Akanksha Khushi, SA News Editor koto_feja Despite a sharp tech sell-off earlier this week sparked by the launch of Chinese startup DeepSeek’s AI model, major market indices on Wall Street rebounded on Friday. The week began with a jolt in Silicon Valley following DeepSeek’s release of Source link
Tariff to be on 25% of all Canadian imports except 10% on energy products25% tariffs on all Mexican products (no exemptions)Retaliation clause calls for further action, likely increased tariffsTariffs on China to include 10% tariffs on all China exports to US on top of existing tariffsRefers to International Emergency Economic Powers Act (IEEPA) lawChina has refused to cooperate with measures to restrict fentanylCanada is playing an increasing role in fentanyl shippingTariff on Canada revokes de minimis waiverThere are some moving parts here with the retaliation clause as Canada has pledged to announce (if not implement) counter-tariffs in an hour. A…
Feb. 01, 2025 3:43 PM ETSPY, XLB, IP, EMN, APD, FMC, LYB, LIN, DOW, CTVABy: Arundhati Sarkar, SA News Editor anyaberkut/iStock via Getty Images As the second-busiest week of earnings come to an end, nine materials stocks that belong to the S&P 500 Materials Sector (XLB) reported their quarterly results. Quarter-to-date, XLB has climbed about 6% compared to a 3.6% run in the SPY ( Source link
Trump says U.S. carries out airstrikes on Islamic State in Somalia Source link
CTV reports that Canada was notified earlier today that the US will place 25% tariffs on Canada and Mexico while China will be hit with 10% tariffs. Canadian energy will be tariffed at 10%.The tariffs will take effect on Tuesday and will stay in place until the fentanyl overdose “issue is sorted”.Canada’s cabinet is set to meet at 3 pm ET with a response set to be announced at 6 pm ET.Meanwhile, on January 29 Mexican President Claudia Sheinbaum said “We don’t think it will happen,” in regards to tariffs.So far, Trump hasn’t said anything live or on social media…
Six out of 22 S&P 500 energy companies reported quarterly results this week, of which five delivered an earnings beat, while only one, Chevron (CVX), reported a miss. Four of the reporting companies exceeded revenue consensus, while one trailed expectation. Below Source link
Exclusive-U.S. wants Ukraine to hold elections following a ceasefire, says Trump envoy Source link
UPCOMING EVENTS:Monday: BoJ Summary of Opinions, Australia Retail Sales, China Caixin Manufacturing PMI, Switzerland Manufacturing PMI, Eurozone Flash CPI, Canada Manufacturing PMI, US ISM Manufacturing PMI.Tuesday: US Job Openings, New Zealand Employment report.Wednesday: Japan Average Cash Earnings, China Caixin Services PMI, Eurozone PPI, US ADP, Canada Services PMI, US ISM Services PMI.Thursday: Switzerland Unemployment Rate, Eurozone Retail Sales, BoE Policy Decision, US Jobless Claims.Friday: Canada Employment report, US NFP, US University of Michigan Consumer Sentiment. MondayThe Eurozone CPI Y/Y is expected at 2.4% vs. 2.4% prior, while the Core CPI Y/Y is seen at 2.6% vs. 2.7% prior. The inflation…