Latest news with #AnnexWealthManagement
Yahoo
2 days ago
- Business
- Yahoo
What the May jobs report means for recession risk & Fed cuts
Treasury yields (^TYX, ^TNX, ^FVX) are edging up as jobs data shows signs of a cooling labor market without tipping into recession. Employers added 139,000 jobs in May, topping forecasts of 126,000, while the jobless rate held at 4.2%. Brian Jacobson, chief economist and strategist at Annex Wealth Management, and Omar Aguilar, Schwab Asset Management CEO and CIO, break down what the Federal Reserve may do next and how investors should position for it. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Sign in to access your portfolio
CNBC
3 days ago
- Business
- CNBC
Hard to believe rates will move lower if Fed resumes rate cuts, says Annex's Brian Jacobsen
Brian Jacobsen, Annex Wealth Management, joins 'Power Lunch' to discuss if markets are okay with the latest bill to make its way through Congress, what the bond market's message is and much more.
Boston Globe
29-05-2025
- Business
- Boston Globe
A global rally for stocks loses steam amid questions about what will happen to Trump's tariffs
Advertisement The ruling at first raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. Trump has said he wants to bring manufacturing jobs back to the United States, and he warned the process could cause some pain for U.S. households. Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up But the tariffs remain in place for now while the White House appeals the ruling, and the ultimate outcome is still uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. Trump 'is still able to impose significant and wide-ranging tariffs over the longer-term through other means,' according to Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management. Advertisement Such uncertainty helped dampen the excitement in financial markets as trading headed through Europe into the United States, where the moves were much more modest than in Asia. The U.S. court's move was nevertheless seen as a positive for financial markets. 'The bar is raised for President Trump to resurrect his tariffs,' said Brian Jacobsen, chief economist at Annex Wealth Management. 'Markets are pricing that this is a better type of uncertainty than what we've had since Liberation Day,' which is what Trump called his April 2 announcement of a worldwide set of sweeping tariffs. The S&P 500 has pulled within 3.8% of its all-time high after dropping roughly 20% below at one point last month. On Wall Street, tech stocks led the way after Nvidia once again topped analysts' expectations for profit and revenue in the latest quarter. The chip company has grown into one of the U.S. market's largest and most influential stocks because of the frenzy around artificial-intelligence technology, and its 3.2% rise was the strongest force by far lifting the S&P 500. an AI application software company, jumped 20.8% after it reported stronger profit than analysts expected for its latest quarter. It also said the U.S. Air Force increased the maximum possible value for its contract by $350 million to $450 million. The company's revenue last quarter totaled $108.7 million. E.l.f. Beauty was another big winner and rose 23.6% after the cosmetics company delivered a stronger profit for the latest quarter than analysts expected. It also said it agreed to buy Hailey Bieber's Rhode skincare brand in a $1 billion deal. Rhode had $212 million in net sales in the 12 months through March. Advertisement Bieber, a model and the wife of singer Justin Bieber, will be Rhode's chief creative officer and head of innovation and also a strategic advisor to the combined companies. They helped offset a drop for Best Buy, which fell 7.3% even though it reported a stronger profit than expected. Its revenue fell short of analysts' forecasts. The electronics retailer also cut its forecasted ranges for revenue and profit over the full year on the assumption that 'tariffs stay at the current levels for the rest of the year, and there is no material change in consumer behavior from the trends we have seen in recent quarters,' Chief Financial Officer Matt Bilunas said. Many companies have recently said that the uncertainty caused by tariffs is making it too difficult to offer any financial forecasts for the upcoming year. All told, the S&P 500 rose 23.62 points to 5,912.17. The Dow Jones Industrial Average added 117.03 to 42,215.73, and the Nasdaq composite gained 74.93 to 19,175.87. In the bond market, Treasury yields eased following some mixed reports on the economy. One said that the U.S. economy likely shrunk by less in the first three months of the year than earlier estimated. Another said slightly more U.S. workers applied for unemployment benefits last week than economists expected. The yield on the 10-year Treasury fell to 4.43% from 4.47% late Wednesday. In stock markets abroad, Japan's Nikkei 225 jumped 1.9% to help lead Asian markets higher, while stocks rose 1.4% in Hong Kong and 0.7% in Shanghai. South Korea's Kospi rallied 1.9% after the Bank of Korea cut its key interest rate to ease pressure on the economy. Advertisement The moves for European stocks were much more muted. France's CAC 40 and Germany's DAX both swung from early gains to modest losses. AP Business Writers Matt Ott and Elaine Kurtenbach contributed.
The Age
29-05-2025
- Business
- The Age
ASX set to slide, Wall Street unsteady after Trump's tariffs blocked; Nvidia jumps
A big rally for stocks that began in Asia is easing off the accelerator amid uncertainty about what will happen next after a US court blocked many of President Donald Trump's sweeping tariffs. The S&P 500 rose 0.1 per cent in afternoon trading after giving up most of an earlier gain. The Dow Jones was down 25 points, or 0.1 per cent in mid-afternoon trade, and the Nasdaq composite was mostly unchanged. The Australian sharemarket is set to retreat, with futures at 5am AEST pointing to a fall of 27 points, or 0.3 per cent, at the open. The ASX added 0.2 per cent on Thursday after the Trump announcement was made early in the session. Wall Street's retreat is a downshift after global stocks initially leaped nearly 2 per cent in Tokyo and Seoul, where markets had the first chance to react to the ruling late Wednesday by the US Court of International Trade. It said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorise the use of tariffs. The ruling raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. Trump has said he wants to bring manufacturing jobs back to the United States, and he warned the process could cause some pain for US households. But the White House filed notice of appeal, and the long-term outcome of legal disputes over tariffs remains uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. Loading Trump 'is still able to impose significant and wide-ranging tariffs over the longer-term through other means,' according to Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management. Such uncertainty helped dampen the excitement in financial markets as trading headed through Europe into the United States, where the moves were much more modest than in Asia. The US court's move was nevertheless seen as a positive for financial markets. 'The bar is raised for President Trump to resurrect his tariffs,' said Brian Jacobsen, chief economist at Annex Wealth Management.
Sydney Morning Herald
29-05-2025
- Business
- Sydney Morning Herald
ASX set to slide, Wall Street unsteady after Trump's tariffs blocked; Nvidia jumps
A big rally for stocks that began in Asia is easing off the accelerator amid uncertainty about what will happen next after a US court blocked many of President Donald Trump's sweeping tariffs. The S&P 500 rose 0.1 per cent in afternoon trading after giving up most of an earlier gain. The Dow Jones was down 25 points, or 0.1 per cent in mid-afternoon trade, and the Nasdaq composite was mostly unchanged. The Australian sharemarket is set to retreat, with futures at 5am AEST pointing to a fall of 27 points, or 0.3 per cent, at the open. The ASX added 0.2 per cent on Thursday after the Trump announcement was made early in the session. Wall Street's retreat is a downshift after global stocks initially leaped nearly 2 per cent in Tokyo and Seoul, where markets had the first chance to react to the ruling late Wednesday by the US Court of International Trade. It said that the 1977 International Emergency Economic Powers Act that Trump cited for ordering massive increases in taxes on imports from around the world does not authorise the use of tariffs. The ruling raised hopes in financial markets that a hamstrung Trump would not be able to drive the economy into a recession with his tariffs, which had threatened to grind down on global trade and raise prices for consumers already sick of high inflation. Trump has said he wants to bring manufacturing jobs back to the United States, and he warned the process could cause some pain for US households. But the White House filed notice of appeal, and the long-term outcome of legal disputes over tariffs remains uncertain. The court's ruling also affects only some of Trump's tariffs, not those on foreign steel, aluminum and autos, which were invoked under a different law. Loading Trump 'is still able to impose significant and wide-ranging tariffs over the longer-term through other means,' according to Ulrike Hoffmann-Burchardi, chief investment officer of global equities at UBS Global Wealth Management. Such uncertainty helped dampen the excitement in financial markets as trading headed through Europe into the United States, where the moves were much more modest than in Asia. The US court's move was nevertheless seen as a positive for financial markets. 'The bar is raised for President Trump to resurrect his tariffs,' said Brian Jacobsen, chief economist at Annex Wealth Management.
