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Forbes
29-05-2025
- Business
- Forbes
US Stock Futures Up After Federal Court Strikes Down Trump's Tariffs
U.S. stock futures surged in early trading on Thursday after a federal trade court struck down President Donald Trump's sweeping 'Liberation Day' tariffs and declared the president exceeded his authority by imposing them. President Donald Trump during his "Liberation Day" trade announcement event at the White House on ... More April 2, 2025 in Washington, DC. (Photo by) A three-judge panel at the Court of International Trade ruled Trump's tariffs imposed on April 2 should be 'set aside,' siding with business groups and Democratic-led states that asked the court to strike the tariffs down as unlawful. The judges agreed with plaintiffs' claims that Trump doesn't have authority to impose tariffs under the International Emergency Economic Powers Act (IEEPA), which gives presidents the power to impose some sanctions during national emergencies. IEEPA does not explicitly mention anything about tariffs, which plaintiffs argued means that Trump doesn't have authority to impose them under the law, and the trade court agreed, writing, 'Any interpretation of IEEPA that delegates unlimited tariff authority is unconstitutional.' The ruling halts Trump's tariffs on nearly every country - minus the tariffs on Mexico, China and Canada that were imposed prior to April 2 - but the White House is likely to appeal the decision, and either an appeals court or the Supreme Court could quickly put the tariffs back in effect. U.S. stock futures surged in early trading on Thursday, with the benchmark S&P 500 Futures rising 1.5% to 5,991.50 points, while Dow Futures climbed to 42,630.00 points—up 1.1% since Wednesday's close. The tech-centric Nasdaq Futures had the biggest bump as it rose 1.9% to 21,785.25 points. Key Asian markets responded positively to the court ruling, with China's Shanghai Composite Index and Hong Kong's Hang Seng Index rising 0.7% and 1.35% respectively. Japan's Nikkei 225 index and South Korea's KOSPI index both surged by nearly 1.9%. The president has not directly commented on the ruling yet, but White House spokesperson Kush Desai told various outlets that trade deficits amount to a national emergency 'that has decimated American communities, left our workers behind, and weakened our defense industrial base — facts that the court did not dispute.' He then criticized the ruling saying: 'It is not for unelected judges to decide how to properly address a national emergency,' and the administration is prepared to use 'every lever of executive power to address this crisis and restore American Greatness.' Trump's executive orders covering his 'Liberation Day' tariffs 'exceed any authority granted to the President by IEEPA to regulate importation by means of tariffs,' the three-judge panel wrote in their ruling. Trump is all but certain to appeal the court's ruling to the US Court of Appeals for the Federal Circuit. That court could put the tariffs back into effect, as Bloomberg noted in April that court has historically been deferential to presidents when it comes to tariffs. It's likely the dispute will ultimately be decided by the Supreme Court, though it's unclear how and when justices could rule on the issue. Trump could also try to impose his tariffs though other laws, but legal experts told Forbes prior to Wednesday's ruling that other laws would require Trump to go through a lengthier process to impose any tariffs. Last month, at a White House event he deemed 'Liberation Day,' the president announced a series of sweeping levies that he described as 'reciprocal tariffs' against nearly every country, ranging from 10% to 50%. Trump argued that these tariffs were a result of the U.S.'s trade deficits with each of these countries and the purported barriers they have placed on American goods. A few days after the announcement majorly shook the stock and bond market, the president made his first of many backpedals on the matter by pausing the tariffs on every country for 90 days except China, which announced retaliatory measures, while maintaining a baseline rate of 10%. A few days later, the administration announced that some key electronic items, including smartphones and computers, would be excluded from the tariffs. While tariffs on most other nations remained paused, Washington and Beijing engaged in an escalatory tit-for-tat tariff battle, which saw a 145% tariff rate on Chinese goods entering the U.S. and China hit U.S. goods with a 125% levy. After talks in Geneva earlier this month, both countries agreed to roll back most new tariffs on each other for 90 days to allow for negotiations. Trump Defends Tariff Flip-Flops As 'Negotiations'—Here Are The 21 Times He's Changed His Mind (Forbes)
Yahoo
27-05-2025
- Business
- Yahoo
US stock futures jump as Trump delays 50% tariffs against the EU
U.S. stock index futures rose sharply on Monday evening as investors were relieved by President Donald Trump postponing plans to impose steep trade tariffs on the European Union. Trading volumes were dull on account of the Memorial Day holiday, although futures pointed to a recovery after Wall Street sank on Friday. Focus this week is also on quarterly earnings from artificial intelligence major NVIDIA Corporation (NASDAQ:NVDA), which are due on Wednesday and set to offer more cues on the fast-growing AI industry. Nvidia's earnings are expected to act as a bellwether for the broader tech sector. S&P 500 Futures rose 1.1% to 5,879.25 points, while Nasdaq 100 Futures rose 1.3% to 21,236.50 points by 19:11 ET (23:11 GMT). Dow Jones Futures rose nearly 1% to 42,069.0 points. Trump said on Sunday evening that he had agreed to postpone his recently proposed 50% tariffs on the EU to July 9, following a seemingly productive call with EU President Ursula von der Leyen. Trump also said that his administration will begin trade talks in earnest with the EU, while Von Der Leyen also flagged improving relations with Washington. The development offered some relief to markets, which were rattled by Trump threatening steep tariffs on the EU on Friday. But markets still remained on edge over Trump also threatening tariffs on Apple Inc (NASDAQ:AAPL) and other smartphone imports, demanding that they be manufactured domestically. Apple shares slid 3% on Friday. The July 9 deadline is also around when Trump's 'reciprocal' tariffs are set to take effect, with focus also on whether major U.S. trading partners can clinch agreements with Washington before the deadline. The S&P 500 fell 0.7% to 5,802.82 points on Friday, while the NASDAQ Composite fell 1% to 18,737.21 points. The Dow Jones Industrial Average fell 0.6% to 41,603.07 points. Nvidia is set to report its fiscal first quarter earnings after the bell on Wednesday, with focus squarely on whether AI demand remained strong. The company is considered a bellwether for global AI demand, especially in the chipmaking sector, and is sitting on a massive valuation spike over the past two years on this position. Nvidia is expected to clock bumper earnings, especially as Wall Street's so-called AI Hyperscalers– its biggest customers– continued to spend heavily on AI over the past three months. Focus will also be on how the company intends to navigate tougher U.S. export controls, which have essentially blocked it from China, which is still a major market for the chipmaker. Related articles US stock futures jump as Trump delays 50% tariffs against the EU Asia stocks muted amid trade caution; Japan recovers on yen weakness China auto stocks take a hit as BYD, Geely offer fresh incentives
Yahoo
20-05-2025
- Business
- Yahoo
China urges U.S. to act 'responsibly' after Moody's downgrade
-- China has urged the United States to adopt responsible economic policies in the wake of Moody's decision to strip the U.S. of its last triple-A credit rating. Speaking at a press briefing Monday, a spokesperson for China's foreign ministry called on Washington to take responsible policy measures to maintain the stability of the international financial and economic system and safeguard the interests of investors, Reuters reported. The comments come after Moody's downgraded the U.S. from 'AAA' to 'Aa1', citing mounting fiscal deficits and rising interest costs. The agency warned that continued political gridlock and a lack of fiscal discipline pose long-term risks to the country's financial stability. 'The first thought to come to mind is: what took you so long?' analysts at Vital Knowledge wrote, noting that Fitch made a similar downgrade in 2023 and S&P acted as far back as 2011. They pointed to the growing U.S. deficit—now unusually high for a full-employment, peacetime economy—as a key justification. Moody's had maintained a perfect rating on U.S. debt since 1917, making the downgrade historically significant. While the impact on Treasury markets may be limited in the short term, the symbolic loss of credibility raises fresh questions about U.S. fiscal governance. U.S. stock futures fell early Monday as investors reacted to Moody's decision to downgrade the nation's credit rating. As of 04:00 ET (08:00 GMT), Dow Jones Futures futures were down 398 points, or 0.9%. S&P 500 Futures dropped 70 points, or 1.2%, while Nasdaq 100 Futures slid 306 points, or 1.4%. Related articles China urges U.S. to act 'responsibly' after Moody's downgrade 'From Tariff Man to Global Salesman' Moody's downgrades U.S. Sovereign Credit Rating amid fiscal pressures Sign in to access your portfolio
Yahoo
10-05-2025
- Business
- Yahoo
Terrible Sign for Stock Market After Fed's Brutal Trump Tariff Warning
The stock market showed little signs of recovery from the Trump administration's chaotic tariff rollout after the Federal Reserve issued a bleak outlook on Wednesday. A CNN expert warned Wednesday night that 'bad news is coming' as the markets took another beating. Stocks plummeted after Federal Reserve Chairman Jerome Powell said the Fed was keeping its eye on the 'highly uncertain' economic effects of Trump's policies in a speech to the Economic Club of Chicago Wednesday afternoon. 'As we learn more, we will continue to update our assessment. The level of the tariff increases announced so far is significantly larger than anticipated,' he said. 'The same is likely to be true of the economic effects, which will include higher inflation and slower growth.' Powell's remarks sent the Dow tumbling 700 points or 1.73 percent, while the S&P 500 slid 2.24 percent and the tech-heavy Nasdaq Composite fell by over 500 points or 3.07 percent. Stock futures did rise after the sell-off—but only slightly. Dow Futures climbed 0.36 percent, S&P 500 Futures grew 0.45 percent, and Nasdaq Futures jumped 0.56 percent. Wedbush Securities analyst Dan Ives told CNN's Erin Burnett OutFront on Wednesday that he was particularly concerned about Nvidia stock, which fell 6.87 percent. 'The unfortunate reality: Today is a dark day,' he said. 'Nvidia, the golden child of the market… got cut at the knees. Because essentially, the government—if you look at it, you could call it 'restrictions.' It's a blockade into China. It's a 'Do not enter' sign into China for U.S. tech.' In his remarks, Powell referenced the 1986 film Ferris Bueller's Day Off: 'As that great Chicagoan Ferris Bueller once noted, 'Life moves pretty fast.' For the time being, we are well-positioned to wait for greater clarity before considering any adjustments to our policy stance.' Powell may have been nodding to a scene in the movie where a high school teacher explains why the Smoot-Hawley Tariff Act of 1930 failed. A clip of that scene went viral when President Donald Trump first announced his sweeping 'Liberation Day' tariffs. 'The reality is, Powell, he's seeing the numbers,' Ives said. 'And basically, what the market is showing is that bad news is coming.' Over the weekend, the Trump administration set the stock market up for another whirlwind week with baffling statements on exemptions to the sky-high retaliatory taxes and additional levies on semiconductors. Trump said in a Truth Social post Sunday that there was 'no tariff exception' after U.S. Customs and Border Protection published guidelines quite literally titled 'Reciprocal Tariff Exclusion for Specified Products,' which indicated that a wide range of tech devices and parts were exempted from the 125-percent tariff on China. That same day, Commerce Secretary Howard Lutnick confused market watchers even further by saying any tax exemptions were only temporary, as a separate 'semiconductor tariff' was already in the cards.
Economic Times
02-05-2025
- Business
- Economic Times
US stock market predictions today: Market up as Dow Jones gains 170 points, S&P 500 hits 5,604, Nasdaq climbs 1.5% — Why is market rising ahead of the April jobs report and tech earnings boost? Here's
US stock market predictions today show a strong start as the Dow Jones, S&P 500, and Nasdaq head higher ahead of key April jobs data. With big names like Meta, Microsoft, and Reddit posting solid earnings, tech stocks are leading the rally. Meanwhile, Apple and Amazon face pressure from rising tariffs. Investors are closely watching stock futures, economic signals, and what the labor report might mean for future Fed rate moves. Tired of too many ads? Remove Ads What's the latest movement in the US stock market today? How are stock futures reacting to all this market data? Tired of too many ads? Remove Ads Dow Jones Futures: Up 0.4% S&P 500 Futures: Up 0.4% Nasdaq Futures: Up 0.2% Why is the April jobs report so important for today's trading? How did tech earnings influence the stock market today? What's the outlook for Amazon and other retail giants? Are Reddit shares rising after its recent results? Tired of too many ads? Remove Ads What sectors are leading the market gains today? Who are the top gainers and losers in the stock market today? Meta Platforms (META): +9% Microsoft (MSFT): +7.6% Reddit (RDDT): +7% Autodesk (ADSK): +4.16% eBay (EBAY): +3.81% Apple (AAPL): -4% IBM (IBM): -3.96% Amazon (AMZN): -2% Dow Inc (DOW): -1.1% Intel (INTC): -0.75% What should investors keep an eye on going forward? US stock market predictions today are looking optimistic as futures pointed higher early Friday, May 2, 2025. Investors are gearing up for the release of the highly anticipated April jobs report, which is expected to offer clues on the Federal Reserve's next move. Major indexes, including the Dow Jones, S&P 500, and Nasdaq, were all trading in the green, signaling a positive start to the trading stocks were once again in focus after major earnings reports from companies like Apple, Amazon, and Meta Platforms. Meanwhile, concerns over rising tariffs and their potential impact on corporate profits are still lingering in the of early Friday, Dow Jones futures were up by 0.4%, while S&P 500 futures and Nasdaq futures climbed 0.4% and 0.2%, respectively. On Thursday, the S&P 500 closed at 5,604.14, rising 0.6%—its eighth straight day of gains. The Nasdaq Composite saw a strong jump of 1.5%, and the Dow Jones Industrial Average continued its winning streak, now on pace for a ninth consecutive day of momentum is largely fueled by stronger-than-expected tech earnings and hopes for improved U.S.-China trade futures are staying positive as the market digests earnings results and awaits the jobs report. Here's where things stand:Investors seem hopeful that the job numbers will confirm a stable economic outlook without putting too much pressure on the Fed to keep interest rates April nonfarm payrolls report is one of the most awaited data points this week. Analysts expect it to shed light on how strong the labor market really is. A strong jobs number could increase pressure on the Federal Reserve to hold off on rate cuts. On the other hand, a weaker number may support the case for monetary easing later this are watching closely. The labor data will influence everything from stock prices to bond yields and Fed policy tech has once again taken center stage. Meta Platforms (META) reported Q1 earnings of $6.43 per share, beating estimates by 23%, sending the stock up over 9%. Microsoft (MSFT) also impressed, reporting $3.46 EPS, above expectations, with shares rising 7.6%.However, Apple (AAPL) took a hit, falling 4%, after CEO Tim Cook warned of an expected $900 million hit due to tariffs. Despite reporting strong Q2 earnings, the market was clearly worried about forward-looking (AMZN) reported strong Q1 revenue, which rose by 9%, but its stock slipped 2% after issuing a weaker profit outlook for Q2. CEO Andy Jassy said that while demand was stable, cost pressures and global uncertainty made it difficult to provide a stronger mixed reaction is typical during earnings season, especially when future guidance doesn't align with market Reddit became one of the unexpected winners this morning. The social media company reported a massive 60% jump in Q1 revenue and gave a Q2 outlook that beat consensus. As a result, the stock soared 7% in pre-market trading. This marks a sharp turnaround since its IPO earlier this year, signaling investor confidence in its monetization continues to drive the rally, with names like Meta, Microsoft, and AMD showing strong gains. Healthcare stocks also gained, while industrial and energy names lagged behind due to mixed strong movement in tech has helped the Nasdaq outperform the other indexes this week. Investors are clearly rewarding companies that beat expectations and offer confident are some of the top gainers as of this morning:And these are the top losers:The main focus now is the April jobs report. Beyond that, attention will turn to Fed officials' statements, inflation readings, and how tariff tensions with China evolve. With big earnings mostly behind us, economic data will drive the next wave of market should also keep watching Treasury yields, crypto movements (Bitcoin is trading around $97,000), and commodity prices like oil and gold, which can influence broader risk sentiment.
