Latest news with #nudged
The Advertiser
15 hours ago
- Business
- The Advertiser
Wall Street edges down on surprise US jobs data
US stocks have nudged lower as surprisingly weak US private jobs data raised concerns about the labour market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed US private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the US Federal Reserve in July to 25.3 per cent from about 20 per cent prior to the report, according to LSEG data. "I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the US economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labour market," said Ross Mayfield, investment strategist at Baird. "It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation." The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show US job growth cooled in June and the unemployment rate ticked up to 4.3 per cent, according to a Reuters poll of economists. On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington DC. In early trading on Wednesday, the Dow Jones Industrial Average fell 75.68 points, or 0.17 per cent, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01 per cent, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22 per cent, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4 per cent of hitting an all-time high. US Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $US3.3 trillion ($A5 trillion) to the country's debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7 per cent, leading declines. Centene tumbled 33.7 per cent, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7.0 per cent, Molina Healthcare sank 15 per cent and UnitedHealth lost 2.0 per cent. Adding to the strain on equities, the US 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4 per cent each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle line-up. Verint Systems rose 5.0 per cent after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-centre software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows while the Nasdaq Composite recorded 20 new highs and 25 new lows. US stocks have nudged lower as surprisingly weak US private jobs data raised concerns about the labour market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed US private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the US Federal Reserve in July to 25.3 per cent from about 20 per cent prior to the report, according to LSEG data. "I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the US economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labour market," said Ross Mayfield, investment strategist at Baird. "It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation." The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show US job growth cooled in June and the unemployment rate ticked up to 4.3 per cent, according to a Reuters poll of economists. On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington DC. In early trading on Wednesday, the Dow Jones Industrial Average fell 75.68 points, or 0.17 per cent, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01 per cent, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22 per cent, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4 per cent of hitting an all-time high. US Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $US3.3 trillion ($A5 trillion) to the country's debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7 per cent, leading declines. Centene tumbled 33.7 per cent, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7.0 per cent, Molina Healthcare sank 15 per cent and UnitedHealth lost 2.0 per cent. Adding to the strain on equities, the US 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4 per cent each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle line-up. Verint Systems rose 5.0 per cent after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-centre software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows while the Nasdaq Composite recorded 20 new highs and 25 new lows. US stocks have nudged lower as surprisingly weak US private jobs data raised concerns about the labour market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed US private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the US Federal Reserve in July to 25.3 per cent from about 20 per cent prior to the report, according to LSEG data. "I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the US economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labour market," said Ross Mayfield, investment strategist at Baird. "It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation." The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show US job growth cooled in June and the unemployment rate ticked up to 4.3 per cent, according to a Reuters poll of economists. On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington DC. In early trading on Wednesday, the Dow Jones Industrial Average fell 75.68 points, or 0.17 per cent, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01 per cent, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22 per cent, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4 per cent of hitting an all-time high. US Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $US3.3 trillion ($A5 trillion) to the country's debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7 per cent, leading declines. Centene tumbled 33.7 per cent, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7.0 per cent, Molina Healthcare sank 15 per cent and UnitedHealth lost 2.0 per cent. Adding to the strain on equities, the US 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4 per cent each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle line-up. Verint Systems rose 5.0 per cent after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-centre software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows while the Nasdaq Composite recorded 20 new highs and 25 new lows. US stocks have nudged lower as surprisingly weak US private jobs data raised concerns about the labour market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed US private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the US Federal Reserve in July to 25.3 per cent from about 20 per cent prior to the report, according to LSEG data. "I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the US economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labour market," said Ross Mayfield, investment strategist at Baird. "It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation." The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show US job growth cooled in June and the unemployment rate ticked up to 4.3 per cent, according to a Reuters poll of economists. On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington DC. In early trading on Wednesday, the Dow Jones Industrial Average fell 75.68 points, or 0.17 per cent, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01 per cent, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22 per cent, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4 per cent of hitting an all-time high. US Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $US3.3 trillion ($A5 trillion) to the country's debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7 per cent, leading declines. Centene tumbled 33.7 per cent, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7.0 per cent, Molina Healthcare sank 15 per cent and UnitedHealth lost 2.0 per cent. Adding to the strain on equities, the US 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4 per cent each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle line-up. Verint Systems rose 5.0 per cent after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-centre software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows while the Nasdaq Composite recorded 20 new highs and 25 new lows.
Perth Now
18 hours ago
- Business
- Perth Now
Wall Street edges down on surprise US jobs data
US stocks have nudged lower as surprisingly weak US private jobs data raised concerns about the labour market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed US private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the US Federal Reserve in July to 25.3 per cent from about 20 per cent prior to the report, according to LSEG data. "I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the US economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labour market," said Ross Mayfield, investment strategist at Baird. "It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation." The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show US job growth cooled in June and the unemployment rate ticked up to 4.3 per cent, according to a Reuters poll of economists. On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington DC. In early trading on Wednesday, the Dow Jones Industrial Average fell 75.68 points, or 0.17 per cent, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01 per cent, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22 per cent, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4 per cent of hitting an all-time high. US Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending while adding $US3.3 trillion ($A5 trillion) to the country's debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7 per cent, leading declines. Centene tumbled 33.7 per cent, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7.0 per cent, Molina Healthcare sank 15 per cent and UnitedHealth lost 2.0 per cent. Adding to the strain on equities, the US 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4 per cent each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle line-up. Verint Systems rose 5.0 per cent after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-centre software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows while the Nasdaq Composite recorded 20 new highs and 25 new lows.
Business Recorder
18 hours ago
- Business
- Business Recorder
Wall St edges down after ADP shock; focus on trade talks, payrolls data
U.S. stocks nudged lower on Wednesday as surprisingly weak U.S. private jobs data raised concerns about the labor market, while investors closely watched trade negotiations as President Donald Trump's July 9 tariff deadline approaches. The ADP National Employment Report showed U.S. private payrolls fell unexpectedly in June and job gains in the prior month were smaller than initially thought. Investors quickly increased their bets of a rate cut by the U.S. Federal Reserve in July to 25.3%, from about 20% prior to the report, according to LSEG data. 'I take it as a mixed bag. On one hand, the wage is still strong, which is terribly important to the U.S. economy. On the downside, if this isn't seasonality, this is the beginning of a long-term trend in white collar jobs that'll spill over into the total labor market,' said Ross Mayfield, investment strategist at Baird. 'It would be very damaging for the overall economy and obviously make the Federal Reserve react despite their concerns about tariffs causing inflation.' The Nasdaq and the S&P 500 closed lower in the previous session, retreating from record highs as technology stocks were pressured and Treasury yields climbed after data showed stronger-than-expected job openings in May. Focus now turns to the more comprehensive non-farm payrolls report, scheduled for release on Thursday - a day earlier than usual, as markets are closed on Friday for Independence Day. The reading is expected to show U.S. job growth cooled in June and the unemployment rate ticked up to 4.3%, according to a Reuters poll of economists. S&P 500, Nasdaq at record highs as trade hopes feed quarterly momentum On trade, Trump said on Tuesday he was not thinking of extending the July 9 deadline for imposing tariffs and expressed doubts that an agreement could be reached with Japan, although he said he expected a deal with India. The European Union's trade chief is expected to hold talks this week with peers in Washington. At 10:00 a.m. ET (1400 GMT), the Dow Jones Industrial Average fell 75.68 points, or 0.17%, to 44,419.26, the S&P 500 lost 0.92 points, or 0.01%, to 6,197.09, and the Nasdaq Composite gained 43.60 points, or 0.22%, to 20,246.49. Meanwhile, the blue-chip Dow was within 1.4% of hitting an all-time high. U.S. Senate Republicans passed Trump's massive tax-and-spending bill on Tuesday by the narrowest of margins, advancing a package that would slash taxes, reduce social safety net programs and boost military and immigration enforcement spending, while adding $3.3 trillion to the national debt. The legislation now heads to the House of Representatives for possible final approval, although a handful of Republicans have already opposed some of the Senate provisions. Seven of the 11 major S&P sectors nursed losses, with healthcare falling about 0.7%, leading declines. Centene tumbled 33.7%, set for its worst day on record if losses hold, after the health insurer said it had withdrawn its 2025 earnings forecast following data that showed a significant drop in expected revenue from its marketplace health insurance plans. Shares of peers including Elevance Health dropped 7%, Molina Healthcare sank 15% and UnitedHealth lost 2%. Adding to the strain on equities, the U.S. 10-year benchmark yield rose 4 basis points, extending its climb from the previous session. However, megacaps such as Tesla and Apple helped limit the overall losses and rose more than 2.4% each. Tesla posted another big drop in quarterly deliveries, putting it on course for its second straight annual sales decline as demand falters due to backlash over CEO Elon Musk's political stance and an aging vehicle lineup. Verint Systems rose 5% after Bloomberg News reported buyout firm Thoma Bravo was in talks to acquire the call-center software maker. Declining issues outnumbered advancers by a 1.12-to-1 ratio on the NYSE and by a 1.1-to-1 ratio on the Nasdaq. The S&P 500 posted 15 new 52-week highs and two new lows, while the Nasdaq Composite recorded 20 new highs and 25 new lows.
Yahoo
12-06-2025
- Business
- Yahoo
Should You Think About Buying Mitek Systems, Inc. (NASDAQ:MITK) Now?
While Mitek Systems, Inc. (NASDAQ:MITK) might not have the largest market cap around , it received a lot of attention from a substantial price increase on the NASDAQCM over the last few months. The recent rally in share prices has nudged the company in the right direction, though it still falls short of its yearly peak. With many analysts covering the stock, we may expect any price-sensitive announcements have already been factored into the stock's share price. However, what if the stock is still a bargain? Let's take a look at Mitek Systems's outlook and value based on the most recent financial data to see if the opportunity still exists. AI is about to change healthcare. These 20 stocks are working on everything from early diagnostics to drug discovery. The best part - they are all under $10bn in marketcap - there is still time to get in early. Great news for investors – Mitek Systems is still trading at a fairly cheap price. Our valuation model shows that the intrinsic value for the stock is $16.49, but it is currently trading at US$10.10 on the share market, meaning that there is still an opportunity to buy now. Although, there may be another chance to buy again in the future. This is because Mitek Systems's beta (a measure of share price volatility) is high, meaning its price movements will be exaggerated relative to the rest of the market. If the market is bearish, the company's shares will likely fall by more than the rest of the market, providing a prime buying opportunity. View our latest analysis for Mitek Systems Future outlook is an important aspect when you're looking at buying a stock, especially if you are an investor looking for growth in your portfolio. Although value investors would argue that it's the intrinsic value relative to the price that matter the most, a more compelling investment thesis would be high growth potential at a cheap price. However, with an extremely negative double-digit change in profit expected next year, near-term growth is certainly not a driver of a buy decision. It seems like high uncertainty is on the cards for Mitek Systems, at least in the near future. Are you a shareholder? Although MITK is currently undervalued, the adverse prospect of negative growth brings about some degree of risk. We recommend you think about whether you want to increase your portfolio exposure to MITK, or whether diversifying into another stock may be a better move for your total risk and return. Are you a potential investor? If you've been keeping tabs on MITK for some time, but hesitant on making the leap, we recommend you research further into the stock. Given its current undervaluation, now is a great time to make a decision. But keep in mind the risks that come with negative growth prospects in the future. So while earnings quality is important, it's equally important to consider the risks facing Mitek Systems at this point in time. At Simply Wall St, we found 1 warning sign for Mitek Systems and we think they deserve your attention. If you are no longer interested in Mitek Systems, you can use our free platform to see our list of over 50 other stocks with a high growth potential. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Sign in to access your portfolio
Sky News AU
29-04-2025
- Automotive
- Sky News AU
ASX 200 nudges up as major report emerges US President Donald Trump will roll back automotive tariffs
The ASX 200 has nudged up 0.4 per cent as a major report emerged Donald Trump is softening his trade war by limiting automotive tariffs in a big boost for US manufacturers and consumers. The market has risen more than 2.5 per cent over the past five days to completely undo losses incurred since the US President's 'Liberation Day' announcements that rattled global markets. Since the ASX opened on Tuesday, Boss Energy has jumped more than six per cent and Beach Energy is up 3.9 per cent. It has been reported Trump is expected to soften the impact of automotive tariffs in a major boon for US consumers and local car manufacturers. The Wall Street Journal report noted the US President will prevent levies from stacking on top of one another, such as tariffs on aluminium and steel. "President Trump is building an important partnership with both the domestic automakers and our great American workers," Commerce Secretary Howard Lutnick said in a statement. "This deal is a major victory for the President's trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.' This news followed a mixed result on Wall Street where the Dow Jones rose 0.3 per cent, the S&P 500 added 0.1 per cent and the Nasdaq fell 0.1 per cent. London's FTSE 100 nudged up 0.3 per cent, Germany's DAX rose 0.1 per cent and the EURO STOXX 50 Index jumped 0.3 per cent. New Zealand's NZX 50 Index has dropped 0.3 per cent since opening on Tuesday. More to come.
