Blame Game: Trump faults Biden for GDP shrinking despite his own tariff turmoil
President Trump continues to blame former President Biden for almost everything that goes wrong in his presidency – most recently for the GDP shrinking. NBC News' Christine Romans and Kelly O'Donnell report more. Staff Writer at The Atlantic Ashley Parker and host of The Bulwark Podcast Tim Miller join Katy Tur to share their analysis.
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Yahoo
38 minutes ago
- Yahoo
Does SIA Engineering (SGX:S59) Deserve A Spot On Your Watchlist?
For beginners, it can seem like a good idea (and an exciting prospect) to buy a company that tells a good story to investors, even if it currently lacks a track record of revenue and profit. But as Peter Lynch said in One Up On Wall Street, 'Long shots almost never pay off.' While a well funded company may sustain losses for years, it will need to generate a profit eventually, or else investors will move on and the company will wither away. So if this idea of high risk and high reward doesn't suit, you might be more interested in profitable, growing companies, like SIA Engineering (SGX:S59). Now this is not to say that the company presents the best investment opportunity around, but profitability is a key component to success in business. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. If you believe that markets are even vaguely efficient, then over the long term you'd expect a company's share price to follow its earnings per share (EPS) outcomes. Therefore, there are plenty of investors who like to buy shares in companies that are growing EPS. It certainly is nice to see that SIA Engineering has managed to grow EPS by 27% per year over three years. If growth like this continues on into the future, then shareholders will have plenty to smile about. Careful consideration of revenue growth and earnings before interest and taxation (EBIT) margins can help inform a view on the sustainability of the recent profit growth. EBIT margins for SIA Engineering remained fairly unchanged over the last year, however the company should be pleased to report its revenue growth for the period of 14% to S$1.2b. That's encouraging news for the company! In the chart below, you can see how the company has grown earnings and revenue, over time. To see the actual numbers, click on the chart. See our latest analysis for SIA Engineering You don't drive with your eyes on the rear-view mirror, so you might be more interested in this free report showing analyst forecasts for SIA Engineering's future profits. It's a good habit to check into a company's remuneration policies to ensure that the CEO and management team aren't putting their own interests before that of the shareholder with excessive salary packages. Our analysis has discovered that the median total compensation for the CEOs of companies like SIA Engineering with market caps between S$1.3b and S$4.1b is about S$1.8m. SIA Engineering's CEO took home a total compensation package worth S$1.4m in the year leading up to March 2024. That is actually below the median for CEO's of similarly sized companies. CEO remuneration levels are not the most important metric for investors, but when the pay is modest, that does support enhanced alignment between the CEO and the ordinary shareholders. It can also be a sign of good governance, more generally. For growth investors, SIA Engineering's raw rate of earnings growth is a beacon in the night. The fast growth bodes well while the very reasonable CEO pay assists builds some confidence in the board. Based on these factors, this stock may well deserve a spot on your watchlist, or even a little further research. What about risks? Every company has them, and we've spotted 1 warning sign for SIA Engineering you should know about. There's always the possibility of doing well buying stocks that are not growing earnings and do not have insiders buying shares. But for those who consider these important metrics, we encourage you to check out companies that do have those features. You can access a tailored list of Singaporean companies which have demonstrated growth backed by significant insider holdings. Please note the insider transactions discussed in this article refer to reportable transactions in the relevant jurisdiction. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
CNBC
41 minutes ago
- CNBC
CNBC Daily Open: Playing "chicken" in markets can be a risky affair
When threatened, birds puff up their feathers to appear larger than they actually are, and squawk to signal aggression. On Friday, U.S. President Donald Trump suggested he would no longer be "Mr. NICE GUY" to China after the country "totally violated" its trade agreement with America. The same day, Trump said he would raise tariffs on steel imports to 50% from 25%. The escalations follow a détente in May, during which Trump reached a trade deal with the U.K., agreed with Beijing to sharply reduce reciprocal import duties and delayed for more than a month a tariff of 50% on the European Union — two days after announcing it. Those glad tidings lifted stocks. For May, the S&P 500 rose 6.2% and the Nasdaq Composite jumped 9.6%, with both indexes enjoying their best month since November 2023. The Dow Jones Industrial Average gained 3.9% for the month. But the mood among investors might change quickly, depending on communication coming from the White House. The word "chicken" is used as a metaphor for cowardice. In reality, they can be dangerous — there have been reports of humans being killed by Colonel Sanders' favorite bird. Mixed U.S. markets for end of May U.S. markets traded mixed Friday. The S&P 500 was flat, the Dow Jones Industrial Average rose 0.13% and the Nasdaq Composite fell 0.32%. Futures tied to the three indexes ticked down Sunday evening stateside. The pan-European Stoxx 600 index added 0.14% Friday, breaking a two-day losing streak. Germany's DAX climbed 0.27% as the country's inflation eased to 2.1% in May from 2.2% the previous month — but was still higher than expected. Expected Trump-Xi talkTrump and Chinese President Xi Jinping could discuss trade negotiations "this week," U.S. National Economic Council director Kevin Hassett said on Sunday. The conversation might ease tensions, which rose after Trump on Friday said that China has "TOTALLY VIOLATED" its preliminary trade agreement with America, and Chinese U.S. embassy spokesperson Liu Pengyu responded by accusing the U.S. of engaging in "abuse of export control measures." Trump says he'll double steel tariffsTrump on Friday told steelworkers at U.S. Steel that he will raise import duties on steel to 50% from 25%. The new import duties will start June 4, the president posted on Truth Social. On Saturday, the European Union said it is "prepared to impose countermeasures, including in response to the latest U.S. tariff increase." Even so, "tariffs are not going away," U.S. Commerce Secretary Howard Lutnick said on "Fox News Sunday." Mild U.S. inflation in AprilThe U.S. personal consumption expenditures price index, the Federal Reserve's preferred inflation reading, was muted for April. Prices ticked up 0.1% for the month, in line with the Dow Jones forecast. On an annual basis, it rose 2.1%, 0.1 percentage points lower than expected. Excluding food and energy, the core reading on which Fed policymakers tend to focus came in at 0.1% and 2.5%, against respective estimates of 0.1% and 2.6%. Musk cuts himself from DOGEElon Musk bid farewell to his role at the U.S. Department of Government Efficiency Friday. At the press conference, Musk deflected a reporter's question about a New York Times article detailing his alleged drug use last year. Tesla shares lost 14% this year amid Musk's involvement in politics — but they gained 22% in May following Musk's April statement he would spend less time at DOGE. [PRO] May jobs report in focusThe U.S. nonfarm payrolls report for May, out Friday, will provide more information on how the economy is holding up amid Trump's multiple tariffs —and play a big role in determining whether the May rally in stocks still has legs. Economists expect the number of jobs added in May to dip from April. It misses the forecast, markets could take a downturn as the White House appears to ratchet up its tariff rhetoric. Investors are piling into big, short Treasury bets alongside Warren Buffett Investors always pay close attention to bonds, and what the latest movement in prices and yields is saying about the economy. Right now, the action is telling investors to stick to the shorter-end of the fixed-income market with their maturities. Long-term treasuries and long-term corporate bonds have posted negative performance since September, which is very rare, said Todd Sohn, senior ETF and technical strategist at Strategas Securities, on "ETF Edge." The only other time that's happened in modern times was during the Financial Crisis," he added. "It is hard to argue against short-term duration bonds right now." It would seem that Warren Buffett agrees, with Berkshire Hathaway doubling its ownership of T-bills and now owning 5% of all short-term Treasuries, according to a recent JPMorgan report.
Yahoo
an hour ago
- Yahoo
Warnock dodges question on whether Biden should've dropped out in 2024: ‘It's over'
Sen. Raphael Warnock (D-Ga.) sidestepped a question on whether former President Biden should have dropped out of the 2024 presidential race sooner, saying in a Sunday interview that the election is 'over.' 'Here is what we absolutely know about last year's election: It's over. And I'm going to spend all of my energy focused on the task in front of us,' he told NBC News's Kristen Welker on 'Meet the Press' on Sunday, before railing against the GOP tax and spending bill, which the Senate is poised to take up this week. 'We are headed into a very critical week,' the senator continued. 'The Republicans are trying to push forward this big, ugly bill that's going to literally cut as many as 7 million Americans off of their health care. It is a drag not only on their health care, it is a drag on the American economy.' 'This is an unfunded mandate at a time when Donald Trump's tariff tax is literally raising the cost of groceries. And so I've got my sleeves rolled up and in front of me is the American people, the people of Georgia. I'm doing everything I can to save them from Trump's big, ugly bill,' he added. Warnock's comments came in response to Welker's question about a quote from David Plouffe, a senior campaign adviser to former Vice President Kamala Harris, reported in the recent book by CNN's Jake Tapper and Axios's Alex Thompson. 'If Biden had decided in 2023 to drop out, we would have had a robust primary. Whitmer, Pritzker, Newsom, Buttigieg, Harris, and Klobuchar would have run. Warnock and Shapiro would have kicked the tires. Maybe Mark Cuban or a businessperson of some sort. Twenty percent of governors and 30 percent of senators would have thought about it. We would have been eminently stronger,' Plouffe said in the quote, which Welker read to Warnock in the interview. After Warnock gave his response, Welker noted that she 'didn't hear a direct answer to the question there,' but tried to move on. Warnock interrupted the anchor and again focused on the GOP legislative package that passed the House late last month. 'Well, I take very seriously my job. The people of Georgia hired me to stand up for them. And this really is a critical week,' Warnock said, continuing to talk about the bill. The interview comes as high-profile Democrats have been asked to reckon with new reporting alleging Biden's mental and physical decline in the final few years of his term was more severe than what had previously been disclosed to the American public. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
