Latest news with #ChicagoBusinessBarometerPMI
Yahoo
31-03-2025
- Business
- Yahoo
The Magnificent 7, automakers, Moderna, Warner Bros. Discovery, U.S. Bancorp: Stocks to watch today
Stocks fell on Monday, after the Wall Street Journal reported that President Donald Trump has pushed his team to be more aggressive on tariffs in recent days. The S&P 500 fell 1.3%, the Nasdaq Composite 2.2%, and the Dow Jones Industrial Average 0.6% as of 9:54 a.m. EDT. The Magnificent 7 shares mostly extend their declines. The declines were 6.4% for Tesla (TSLA), 5% for Nvidia (NVDA), 4% for Amazon (AMZN), 3.4% for Meta (META), 2.7% for Microsoft (MSFT), and 2.2% for Google parent Alphabet (GOOGL). Apple (AAPL) was little changed. Automakers were mixed, with Stellantis (STLA) dropping 1.9%, General Motors (GM) off just 0.2% and Ford (F) gaining 0.6%. Advisers have considered instituting tariffs of up to 20% on almost all U.S. trading partners, the Journal said, adding that Trump has pushed to levy import taxes on goods from all countries with which the U.S. has a trade deficit. The possibility of so-called 'reciprocal' tariffs remains on the table, it added. He's due to make a major announcement on tariffs on Wednesday. Goldman Sachs (GS) economists increased their forecast odds of a recession over the next 12 months from 20% to 35%. The Chicago Business Barometer PMI for March unexpectedly increased to 47.6 from 45.5 in February. The consensus estimate had been for 44.1. A reading under 50 indicates contraction. Here are some stocks to watch today. The Bank of China's (BACHY) ADRsjumped 7.8% after the lender disclosed a planned sale of new shares to Chinese government entities to boost Tier 1 equity capital. China Construction Bank (CICHY), the Bank of Communications (BCMXY), and the Postal Savings Bank of China also disclosed similar stock sales. Coinbase (COIN) slid 4% as Bitcoin declined, the WSJ reported. Other crypto-sensitive shares fell, including Robinhood (HOOD), by 5.1%, and MicroStrategy (MSTR), by 4.6%. Moderna (MRNA) stock plunged 12% after the Food and Drug Administration's top vaccine official, Dr. Peter Marks, resigned and told the acting commissioner that Health and Human Services Secretary Robert F. Kennedy, Jr. is seeking subservient confirmation of his misinformation and lies,' according to the Associated Press. U.S. Bancorp (USB) Vice Chair Terry Dolan, the lender's chief administration officer, may have died on Sunday afternoon after the plane he was believed to be piloting crashed near Minneapolis. The stock fell about 0.7%. Warner Brothers Discovery CEO David Zaslav has started meeting candidates who could replace film studio heads Michael De Luca and Pamela Abdy, Bloomberg reported, citing people familiar. The talks are early and no final decision has been made on the two executives' futures. The stock fell 1.%. For the latest news, Facebook, Twitter and Instagram. Sign in to access your portfolio
Yahoo
30-03-2025
- Business
- Yahoo
Trump's new tariffs, the Fed's Powell speaks, and jobs numbers: What to watch in the markets this week
President Donald Trump's 'liberation day' is on Wednesday. The president will unveil 'reciprocal tariffs' on many U.S. trading partners, and delayed 25% duties on Mexico and Canada are also scheduled to go into effect. The announcement won't end the uncertainty over the Trump administration's trade policies, as shown by the back and forth over earlier announcements, and may draw escalation in the former of retaliation and then further U.S. responses, observers have said. Chris Grisanti, chief market strategist at MAI Capital Management, said last week that he was surprised by the relatively benign market reaction to Trump's auto tariff announcement, which was more hawkish than he'd anticipated. He now expects new duties on April 2 to also be hawkish, possibly followed by another muted reaction from investors. Economic indicators are also in focus this week, with investors concerned about softening U.S. growth, particularly in the labor market. Here's what investors will be watching: The Chicago Business Barometer PMI for March is due at 9:45 a.m. EDT. The index may have fallen to 44.1 from a reading of 45.5 in February, according to the average economist estimate in FactSet (FDS). A reading under 50 indicates shrinking. The ISM manufacturing index, scheduled for release at 10 a.m., may show a contraction for March — 49.5 — down from 50.3 in February. The JOLTS job opening numbers for February will probably also show a decline, while construction spending may have picked up as weather improved. Be on the lookout for hoaxes — it's April Fools Day. Trump is scheduled to unveil 'reciprocal' tariffs on a wide range of U.S. trading partners; his office has yet to announce a time. Factory orders, scheduled for 10 a.m., may have risen 0.5% in February, slowing from 1.7% in January. The ADP survey at 8:15 a.m. may show that employers added 120,000 jobs in March, up from 77,000 in February. Federal Reserve Governor Adriana Kugler is scheduled to speak at 4:30 p.m. EDT on 'Inflation expectations and monetary policymaking.' Constellation Brands (STZ), which makes, imports and distributes alcoholic beverages, reports quarterly earnings today. The company's revenue and per-share profit may have been little changed from a year earlier. Economic data include jobless claims for the week through March 29 and the ISM Services index for March, and the U.S.'s February trade balance. Fed speakers include Vice Chair Philip Jefferson and Governor Lisa Cook. The U.S. employment report for March is due at 8:30 a.m. EDT, with seasonally adjusted gains in non-farm payrolls expected to slow and the jobless rate projected to rise to 4.2% from 4.1%. Wage growth probably held steady. Fed Chair Jerome Powell is scheduled to speak on the economic outlook at 11:25 EDT. Other central bank speakers include Michael Barr — who will address AI and banking — and Christopher Waller. For the latest news, Facebook, Twitter and Instagram.
