Latest news with #tradeuncertainty
Yahoo
10 hours ago
- Business
- Yahoo
Stock market today: Dow, S&P 500, Nasdaq futures slip as Wall Street kicks off June after bullish May
US stock futures edged lower Sunday evening, as investors turned the page on a bullish May and eyed the month ahead with trade uncertainty lingering. S&P 500 futures (ES=F) were down 0.4%, mirroring a similar drop in futures tied to the Dow Jones Industrial Average (YM=F). Contracts tied to the Nasdaq 100 (NQ=F) also slipped 0.4%. The tepid start to June follows a standout May: The S&P 500 (^GSPC) rallied more than 6% in its best month since November 2023 and best May since 1990. The Nasdaq Composite (^IXIC) soared 9%, and the Dow (^DJI) notched a 4% gain. Tech stocks led the charge, as investor optimism around AI and resilient economic data fueled risk appetite. President Trump's tariff policy remains a focus for Wall Street. Last week, a federal court struck down significant portions of his duties, including sky-high levies on Chinese imports, only for a higher court to temporarily reverse that decision a day later, reinstating the duties while legal proceedings continue. Tensions with China also ratcheted up on Friday, with Trump claiming the country had "totally violated its agreement" with the US. Meanwhile, Elon Musk's role leading DOGE has come to an end as he returns to working at his other companies, most notably Tesla (TSLA), which has been a boon for the stock. Musk's attempts at drastically reshaping the American government through mass layoffs and cuts started with huge impact before fizzling well short of his $2 trillion target. Against this backdrop, all eyes now turn to a critical slate of economic data this week — most notably the May nonfarm payrolls report due Friday, which will offer fresh clues on how trade frictions and interest rate expectations are shaping the broader US economy. Earnings season is almost wrapped, with results from CrowdStrike (CRWD), Broadcom (AVGO), DocuSign (DOCU), and Lululemon (LULU) the main points of interest in a smaller week of reports. 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
Independent Singapore
3 days ago
- Business
- Independent Singapore
Trade costs force 42% of Singapore firms to raise prices, HSBC finds
Photo: Depositphotos/realinemedia SINGAPORE: Rising costs due to tariffs and other trade-related factors, the biggest concern for almost six in 10 Singapore businesses, have led 42% of companies to increase their prices, according to Singapore Business Review , citing a recent HSBC report. In addition to those that have already raised prices, 44% plan to do so soon, and 42% have increased their inventory levels to manage supply disruptions. Rising costs and supply disruptions have also led eight in 10 businesses to reconsider their long-term strategies. Meanwhile, 86% say uncertainty around trade has made them more cautious to expand or invest. When it comes to international trade growth in the coming years, 83% of Singapore companies feel less confident compared to their global peers. In terms of trade dynamics, half of Singapore firms plan to increase trade with South Asia, including ASEAN, India, and China. Beyond Asia, 46% aim to trade more with Europe, and 38% with the Middle East. Last week, Ang Yuit, president of the Association of Small and Medium Enterprises (ASME), warned that some Singapore firms could go into 'life support mode' once the 90-day pause on US tariffs ends. /TISG Read also: 42% Singapore employers to expand their permanent headcount in H12025, with more focus on non-monetary perks Featured image by Depositphotos (for illustration purposes only)
Bloomberg
3 days ago
- Business
- Bloomberg
Earnings Show ‘Uncertainty' Is the Only Sure Thing for Investors
Earnings season is finally over, and for investors one thing is certain: Corporate executives and Wall Street analysts are deeply concerned about the 'uncertainty' sparked by President Donald Trump's combative trade plans. 'As we look to the rest of the year, there is still uncertainty related to tariff levels, timing and countries involved in addition to the potential actions of others in the industry, as well as the potential reaction of American consumers,' Corie Barry, chief executive officer of Best Buy Co., said during the company's earnings call Thursday.
CNA
4 days ago
- Business
- CNA
Markets shrug off US appeals court's decision to reinstate Trump tariffs
NEW YORK :Wall Street closed higher on Thursday, largely shrugging off a decision by a federal appeals court late Thursday reinstating President Donald Trump's tariffs. This came a day after a trade court blocked most of the U.S. president's tariffs going into effect. The S&P 500 ended up 0.4 per cent higher on the day after the appeals court headline. The dollar, on the other hand, stayed lower against its safe-haven peers such as the yen and Swiss franc as investors braced for more trade uncertainty and volatility. It's "a secondary thing even, though it's capturing the headlines right now. Investors are looking forward. Trump has already rolled back most of these tariffs anyway, so these court rulings are just headlines. Trump probably prepared an appeal before the ruling even came out. As far as I'm concerned, as long as the market doesn't tank on the news, it's just a secondary byproduct." MARK SPINDEL, CHIEF INVESTMENT OFFICER, POTOMAC RIVER CAPITAL LLC, WASHINGTON "I think markets are just going to continue to be caught in this pinball machine of court decisions, executive orders and judicial reviews. This is what happens when you don't follow a more sticky legislative process when developing policy. The result of using executive orders is that you're at the mercy of a court that is ruling on, circumscribing, or endorsing those orders. Markets are caught in the middle of all this, and the result is chaos and uncertainty." TIM GHRISKEY, SENIOR PORTFOLIO STRATEGIST, INGALLS & SNYDER, NEW YORK, NEW YORK "The market has become numb to the tariff issue because the changes occur from multiple parties on a daily basis. Last night the U.S. Court of International Trade ruled the Trump doesn't have authority to implement reciprocal tariffs." "That ruling was appealed and the appeal was successful. Now we're back with Trump having authority. Every day there's new news. The time frames are short and there are a lot of countries currently in trade and tariff negotiations. Markets are waiting for an ultimate resolution, which will likely be somewhat favorable to the U.S. overall but they may not be successful everywhere." "Traders will react to news like this as quickly as they can hoping to gain a little advantage. But fortunes aren't made in the stock market by rapidly trading. They're made by investing in companies ... a daily move is just a drop in the bucket." "As we've seen, courts are ruling in opposite ways so its very, very hard to gain any advantage as a trader. And you have a President who makes totally opposite statements on successive days, either huge tariffs or the removal of tariffs." HELEN GIVEN, DIRECTOR OF TRADING, MONEX USA, WASHINGTON "FX markets have become increasingly headline-weary, and the developments over the last 24 hours are no exception. Traders have adopted an 'I'll believe it when I see it' approach to any announcements regarding tariffs, hence the very muted reaction from the U.S. dollar to the headline that Trump's tariffs are, for now, back on the table." "Importantly, the majority of the levies in question have already been paused and will continue to stay on hold until the early July end of Trump's 90-day pause, so traders are giving this court action until then to reach a conclusion and any reaction to further headlines is likely to continue to be smaller than some of the volatility we've seen since April 2nd, albeit in choppy trading."
CNA
4 days ago
- Business
- CNA
Dollar rises after Trump's tariffs face court roadblock
LONDON :The dollar rose against its major peers on Thursday after a court blocked U.S. President Donald Trump from imposing import tariffs on other countries, providing some relief for the currency that has struggled this year due to trade uncertainty. The greenback gained a third of a percent against the yen and the Swiss franc but was off session highs after the trade court ruling that found Trump overstepped his authority by imposing across-the-board duties on imports from U.S. trading partners. The Trump administration filed an appeal within minutes. "Reciprocal tariffs are off for now, but this should not alter the medium trend. Trump may find other methods to impose his economic and trade agenda, so in that respect it's uncertainty squared," said Kenneth Broux, head of corporate research FX and rates at Societe Generale. "For some investors this is just an opportunity to diversify to non-dollar securities." U.S. assets including the dollar have been hurt in recent months as investors reassess historic assumptions around the strength of U.S. markets given an erratic trade policy and concern about high debt. The dollar briefly hit a two-week high at 146.29 yen and was last trading 0.34 per cent higher on the day at 145.23 yen. It was also 0.34 per cent higher against the Swiss franc at 0.8296. The euro slipped 0.13 per cent to around $1.1276 and sterling was slightly weaker at around $1.3467. That left the dollar index, which measures the U.S. currency against six major peers, back above 100 for the first time in a week. "There's an initial reaction of a stronger dollar and weaker yen. However, considering judicial processes like appeals, I don't expect a continuous rise in the dollar," said Hirofumi Suzuki, chief FX strategist at SMBC. The dollar index remains down 8 per cent so far this year and analysts said that the new court ruling did little to offer clarity on the outlook for tariffs and they were sceptical of a sustained dollar rally in the face of a long court battle. The greenback has weakened about 2 per cent against the yen, nearly 6 per cent against the Swiss franc and 4 per cent against the euro since Trump slapped harsh levies on global economies on April 2, while the broader dollar index has fallen more than 3 per cent. U.S. Treasuries also sold off, with 10-year yields up 5 basis points at 4.53 per cent. Europe's benchmark STOXX 600 index was up 0.3 per cent in early trading, and U.S. stock futures jumped on a risk-on rally. Global investor sentiment was also lifted this week after Trump delayed at the weekend his plan to impose 50 per cent tariffs on European Union imports, and investors are on the lookout for any signs of improving relations between the United States and its trade partners.
