Latest news with #AlexisInvestmentPartners
Reuters
16 hours ago
- Business
- Reuters
Oil price drop may be overreaction, says market expert
Jason Browne, president of Alexis Investment Partners says the oil price drop is "probably a little bit of an overreaction," as stocks rally on hopes of de-escalation in the Middle East.
Yahoo
23-05-2025
- Business
- Yahoo
Wall St falls as Trump tariff threats spark market uncertainty
STORY: U.S. stocks fell on Friday, notching a weekly loss, with the Dow and S&P 500 each dropping more than six-tenths of a percent and the Nasdaq shedding 1%. President Donald Trump opened a new front in global trade tensions by recommending 50% tariffs on European goods, and warned Apple it could face potential 25% tariffs on foreign-made iPhones sold to U.S. customers. While this unleashed a fresh wave of market uncertainty, stocks clawed back from steeper losses earlier in the session. Jason Browne, president of Alexis Investment Partners, sees this as a sign that investors are adjusting to the new normal of Trump's tough trade talk. 'So I think given that backdrop, being almost back to flat and almost hitting flat a few times throughout the day, it's almost positive. It's pretty high hurdles and I think what it partly tells us is that the market is doing a pretty good job of digesting this sort of new world we're in in terms of how Trump negotiates, uses tariffs, and is just sort of taking things a little more in stride than certainly they were a month ago.' Trump's Apple threat pushed shares of the tech giant down 3%. The six other Magnificent 7 stocks also closed lower. Among other movers, Deckers Outdoor slumped nearly 20% after the maker of UGG boots forecast first-quarter net sales below estimates and said it would not provide annual targets due to tariff-led macroeconomic uncertainty. Sportswear maker Nike dropped more than 2%. And shares of Workday slumped 12.5% after the software company forecast second-quarter subscription revenue in line with Wall Street expectations, anticipating weakening client spending on its product. Sign in to access your portfolio
