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Express Tribune
11 hours ago
- Business
- Express Tribune
Wall Street slips on Trump tariff threats
A street sign for Wall Street is seen outside the New York Stock Exchange (NYSE) in New York City, New York, US, July 19, 2021. PHOTO: REUTERS Listen to article Wall Street ended lower on Friday, with Meta Platforms weighing on the S&P 500 after President Donald Trump intensified his tariff offensive against Canada, amplifying the uncertainty swirling around US trade policy. Trump late on Thursday ramped up his tariff assault on Canada, saying the US would impose a 35% tariff on imports next month and planned to impose blanket tariffs of 15% or 20% on most other trading partners. The S&P 500 eased from a record high the day before, with caution prevailing after Trump on Thursday imposed 50% tariffs on Brazil and as the European Union braced for a possible letter from Trump with details on fresh tariffs. "The increased rhetoric around tariffs, what we've seen this week regarding Brazil and Canada, is certainly elevating the anxiety level," said Michael James, an equity sales trader at Rosenblatt Securities. "People had become a little more accustomed to the lack of negative tariff headlines, and we've kind of been reminded that the tariff picture is still there." Shares of Nvidia rose 0.5% to a record high, lifting its stock market value to $4.02 trillion. Drone makers AeroVironment and Kratos Defense & Security Solutions jumped about 11% after US Defense Secretary Pete Hegseth ordered a surge in drone production and deployment. The S&P 500 declined 0.33% to end the session at 6,259.75 points. The Nasdaq declined 0.22% to 20,585.53 points, while the Dow Jones Industrial Average fell 0.63% to 44,371.51 points. Volume on US exchanges was relatively light, with 15.4 billion shares traded, compared with an average of 18.3 billion shares over the previous 20 sessions. For the week, the S&P 500 dipped 0.3%, the Dow lost about 1% and the Nasdaq slipped 0.1%. The S&P 500 is up about 6% so far in 2025. Analysts on average expect S&P 500 companies to increase their second-quarter earnings by 5.7%, year over year, with big gains from tech companies and declining profits in energy, consumer staples and consumer discretionary, according to LSEG I/B/E/S. "We believe expectations are a bit low for S&P 500 earnings. Much of the second quarter was marked with tariff and trade issues and that may have caused some dislocations in earnings," said Michael Landsberg, chief investment officer, Landsberg Bennett Private Wealth Management. Levi Strauss & Co jumped 11% after the apparel seller raised its annual revenue and profit forecasts and beat quarterly estimates. Meta Platforms shares closed 1.3% lower after Reuters reported that the company is very unlikely to offer more changes to its pay-or-consent model, increasing the risk of fresh EU antitrust charges and hefty daily fines. Across the US stock market, declining stocks outnumbered rising ones by a 2.8-to-one ratio. The S&P 500 posted 12 new highs and 4 new lows; the Nasdaq recorded 58 new highs and 43 new lows.
International Business Times
15 hours ago
- Business
- International Business Times
Wall Street Ends Lower as Trump Targets Canada with Tariffs, Nvidia Hits $4 Trillion
The impact of the US president's tariff threats was evident in the US markets. Wall Street slid on Friday, led by a decline in Meta Platforms, after Donald Trump announced that the U.S. was stepping up sanctions against Canada and other trading partners. Trump said he would impose a 35% tariff on Canadian imports and suggested that many others would receive a blanket 15 to 20% import tariff. The S&P 500 dropped 0.33% to 6,259.75, and the Nasdaq was down 0.22% at 20,585.53, while the Dow finished 0.63% lower at 44,371.51. Reports of potential new EU antitrust fines saw Meta fall 1.3%. Nvidia Surges, Drone Stocks Soar Even with the sharp downturn, shares of Nvidia rose 0.5%, to a market value of $4.02 trillion, its highest ever, boosting confidence in AI-related stocks. Meta Platforms shares dropped by 1.3% after reports said it's unlikely to change its EU data practices, possibly facing new antitrust fines. Defense companies AeroVironment and Kratos Defense surged about 11% each after the U.S. Defense Secretary said more drone production is needed. Kraft Heinz gained 2.5% on news of a potential breakup of the company, and Levi Strauss surged 11% after boosting its full-year profit outlook. Looking Ahead to Earnings Season Volume was light, with 15.4 billion shares changing hands on U.S. exchanges, below the 20-day average of 18.3 billion. The S&P 500 was down 0.3% for the week, while the Dow dropped 1% and the Nasdaq lost 0.1%. Analysts have expected earnings in the second quarter to rise 5.7% from a year earlier, pulled up by tech but dragged down by energy and consumer sectors. Next week's results from JPMorgan, Netflix, and Johnson & Johnson could show whether Trump's tariffs are cutting into corporate profits.
AU Financial Review
18 hours ago
- Business
- AU Financial Review
US stock futures fall as tariff decision day approaches
S&P 500 stock futures slid 0.6 per cent on Friday (Saturday AEST), pointing to at least a near-term challenge for US equities as President Donald Trump's July 9 trade deal deadline approaches. US markets were closed on Friday in observance of July 4 Independence Day celebrations. Both the S&P 500 and Nasdaq Composite closed at record highs on Thursday. The Dow had also rallied on Thursday.
The Herald Scotland
a day ago
- Business
- The Herald Scotland
US stock futures lower after Trump slaps Canada with 35% tariff
Canada is the U.S.' second largest trading partner. It recently rescinded a digital services tax to get Trump back to the negotiating table over trade issues. Trump also told NBC News he is eyeing blanket tariffs of 15% to 20% on most trading partners, although exact levels are still being determined. The current blanket tariff rate is 10%. At 6:05 a.m. ET, futures tied to the blue-chip Dow fell -0.69%, while broad S&P 500 futures dropped -0.67% and tech-laden Nasdaq futures slipped -0.63%. The new tariff announcement comes after stocks shrugged off a 50% tariff on copper imports, effective Aug. 1, and a 50% tariff on Brazil. Instead, investors focused on positive corporate news, including better-than-expected results and outlook from Delta Air Lines. Its annual earnings outlook had been pulled in April due to tariff uncertainty but was reinstated as bookings stabilized. Delta's annual earnings per share guidance was lower than its forecast in January but higher than Wall Street's estimates, helping allay some fears about recent tariff chaos. The tech-laden Nasdaq and broad S&P 500 closed at record highs. "Going into second-quarter earnings season, stocks could get an added boost from low expectations," said Kristy Akullian, head of iShares investment strategy, Americas, at BlackRock. "Analyst forecasts have steadily fallen since the first-quarter in the face of policy uncertainty, meaning that consensus expectations of 3% year-over-year earnings growth for the S&P 500 could be a low bar compared to the 13% growth delivered in the first quarter." Corporate news Jeans maker Levi Strauss topped expectations with its second-quarter results and raised its full-year outlook above analysts' forecasts. It said it has been working to absorb additional tariff costs rather than pass them on to consumers. PriceSmart's quarterly results topped analysts' estimates. Medora Lee is a money, markets, and personal finance reporter at USA TODAY. You can reach her at mjlee@ and subscribe to our free Daily Money newsletter for personal finance tips and business news every Monday through Friday.
Yahoo
a day ago
- Business
- Yahoo
Western Union (WU) Registers a Bigger Fall Than the Market: Important Facts to Note
In the latest close session, Western Union (WU) was down 2.79% at $8.35. The stock trailed the S&P 500, which registered a daily loss of 0.33%. On the other hand, the Dow registered a loss of 0.63%, and the technology-centric Nasdaq decreased by 0.22%. Coming into today, shares of the money transfer company had lost 5.91% in the past month. In that same time, the Business Services sector lost 2.01%, while the S&P 500 gained 4.07%. Analysts and investors alike will be keeping a close eye on the performance of Western Union in its upcoming earnings disclosure. The company is expected to report EPS of $0.44, unchanged from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $1.03 billion, down 3.59% from the year-ago period. Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $1.77 per share and revenue of $4.12 billion. These totals would mark changes of +1.72% and -2.18%, respectively, from last year. Investors should also pay attention to any latest changes in analyst estimates for Western Union. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the business health and profitability. Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.27% decrease. Right now, Western Union possesses a Zacks Rank of #3 (Hold). Looking at valuation, Western Union is presently trading at a Forward P/E ratio of 4.86. This denotes a discount relative to the industry average Forward P/E of 16.76. Also, we should mention that WU has a PEG ratio of 2.43. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The average PEG ratio for the Financial Transaction Services industry stood at 1.33 at the close of the market yesterday. The Financial Transaction Services industry is part of the Business Services sector. At present, this industry carries a Zacks Industry Rank of 65, placing it within the top 27% of over 250 industries. The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. To follow WU in the coming trading sessions, be sure to utilize Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report The Western Union Company (WU) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
