Author: FX
United States (US) President Donald Trump spoke with reporters late on Friday, further amending statements made by his own White House personnel which were also meant to amend reports that the Trump administration may be kicking the tariff can down the road to March 1. President Trump’s team reiterated that tariffs on Mexico, Canada, and China were all starting this weekend on February 1. Donald Trump himself added further fuel to the trade war fire, noting that not only are 25% tariffs landing on Mexico and Canada, but China is also getting its own 10% tariff. President Trump then added…
The Dow Jones tumbled around 340 points on Friday. According to the White House, reports of a delay in tariffs is false. US PCE inflation met expectations, and trade tariffs are inbound this weekend. The Dow Jones Industrial Average (DJIA) broke to the bearish side toward the tail end of the US trading session on Friday. Equities backslid after a spokesperson for US President Donald Trump reaffirmed that trade tariffs against Canada, Mexico, and China will be implemented this Saturday. Pre-market reports suggested that President Trump’s team would be kicking the tariff can down the road, and the White House…
Markets:Gold up $3 to $2796US 10-year yields up 7 bps to 4.58%WTI crude oil down 27-cents to $72.46S&P 500 down 30 points to 6039USD leads, JPY lagsJanuary comes to an end and it was certainly a dramatic one, which is no surprise given the new President.The PCE report was a good one for inflation, though only when you’re rounding to the second decimal or digging deep in the numbers. It was a reminder that the Fed won’t be threatening rate hikes any time soon, even if the pace of cuts could slow or stop. The dollar took the report in…
CVX stock shot more than 4% lower on Friday following Q4 earnings. The oil major bested Wall Street on Q4 revenue prediction but missed on EPS. Chevron raised its quarterly dividend from $1.63 to $1.71. Chevron repurchased $15 billion of its own shares in 2024. At the end of a volatile trading week, Chevron (CVX) is the worst performing Dow Jones Industrial Average (DJIA) stock on Friday after missing its earnings consensus slightly on the bottom line. The oil major announced Q4 adjusted earnings per share of $2.06, which missed the average Wall Street estimate by 5 cents. CVX…
Treasury yields have been creeping higher today as the White House re-iterated a threat to slap tariffs on Mexico, Canada and China. We will see how it shakes out but it’s a decent reversal given a benign PCE inflation report today.It’s increasingly clear how the Treasury market views tariffs:1) They’re inflationarySome Fed officials dismiss them as a one-off effect but there are many permutations, including retaliation and growth knock-ons. This is straight-forward thinking as raising the prices of things to consumers is the point of tariffs.2) Trade war spendingIf we do end up in some real trade wars, it’s clear…
The S&P 500 is now down 30 points to 6047.One chart that stands out today after earnings is Apple. Shares opened 4% higher but they have turned around in a big way and are down 1.6% now. This article was written by Adam Button at www.forexlive.com. Source link
If the latest Reuters report is to be believed, Trump’s ‘promise’ yesterday to enact immediate tariffs on Saturday was a bluff. However if the White House is to be believed, the tariffs will be announced on Saturday.The Reuters report still says Trump will announce tariffs but that they won’t begin until March 1 and there will be a process for exemptions, which perhaps means that both can be true.In any case, it’s all theatre. There won’t be any universal tariffs.Why? Quite simply, Trump doesn’t have the power.The US Constitution couldn’t be more clear:”The Congress shall have Power To lay and…
Jan. 31, 2025 1:55 PM ETAAPL, GOOG, AMZN, MSFT, AMD, INTC, NVDA, MRVL, AVGO, META, GOOGLBy: Ravikash Bakolia, SA News Editor Leon Neal/Getty Images News Chinese startup DeepSeek’s AI model highlights the risk of AI infrastructure overcapacity if the current speed of investment continues, according to Fitch Ratings. The rating agency said on Thursday that this development could moderate outsized revenue growth for AI chipmakers but lead Source link
United States (US) Press Secretary Karoline Leavitt dashed investor hopes for a delay in tariffs on Friday, announcing from the White House’s press podium that President Donald Trump’s wide tariffs of 25% on Canada and Mexico, as well as 10% on China, would be taking effect on February 1. The announcement shattered earlier reports that the Trump administration would be pushing tariff implementation out to March. Key highlights Press Sec. Leavitt reiterates February 1st deadline for Canada and Mexico tariff. Canada and Mexico tariff at 25% and China at 10%. Tariffs will be up for public consumption on Saturday. There…
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