Latest news with #AnnexWealthManagement
The Age
6 hours ago
- Business
- The Age
ASX set to rise, Wall Street advances amid doubts about Trump's tariffs
US stock indexes are hanging near their records on Monday following President Donald Trump's latest updates to his tariffs, as speculation continues on Wall Street that he may ultimately back down on them. The S&P 500 was edging up by 0.1 per cent and within 0.2 per cent of its all-time high set on Thursday. The Dow Jones was up 54 points, or 0.1 per cent, in mid-afternoon trade, and the Nasdaq composite was 0.3 per cent higher. The Australian sharemarket is set to advance, with futures pointing to a rise of 57 points, or 0.7 per cent, at the open. The ASX slid by 0.1 per cent on Monday. The Australian dollar was 0.5 per cent lower at 65.46 US cents at 5.16am AEST. Stock indexes elsewhere around the world were mixed in their first trading after Trump announced plans over the weekend for 30 per cent tariffs on goods from Mexico and the European Union. They won't take effect until August 1, the same deadline that Trump announced last week for updated tax rates on imports from Japan, South Korea and a dozen other countries. The latest postponements for Trump's tariffs allow more time for him to reach trade deals with other countries that could lower the tariff rates and prevent pain for international trade. They also feed into speculation that Trump may ultimately back down on his tariffs if they end up creating too much damage for the economy and for financial markets. If Trump were to enact all his proposed tariffs on August 1, they would raise the risk of a recession. That would not only hurt US voters but also raise the pressure on the US government's debt level relative to the economy's size, particularly after Washington approved big tax cuts that will add to the deficit. Loading 'We therefore believe that the administration is using this latest round of tariff escalation to maximise its negotiating leverage and that it will ultimately de-escalate, especially if there is a new bout of heightened bond and stock market volatility,' according to Ulrike Hoffmann-Burchardi, global head of equities at UBS Global Wealth Management. 'As usual, there are many conditions and clauses that can get these rates reduced,' said Brian Jacobsen, chief economist at Annex Wealth Management. 'That's probably why the market might not like the tariff talk, but it's not panicking about it either.'
Fox News
04-07-2025
- Business
- Fox News
Business Rundown: Can The Fireworks Last On Wall Street?
The first half of 2025 was full of economic surprises and volatility. With recent record highs in US markets, this Independence Day we're looking at if the fireworks can continue for Wall Street. FOX Business correspondent Gerri Willis speaks with Annex Wealth Management's chief economist Brian Jacobsen about how we got here from Liberation Day and shares which stocks & sectors are trending hot in 2025. Photo Credit: AP Learn more about your ad choices. Visit
Business Recorder
23-06-2025
- Business
- Business Recorder
Wall Street Week Ahead: Stocks take a breather as investors assess geopolitics
NEW YORK: Investors will focus on the Israel-Iran conflict and US economic data releases next week to assess the near-term outlook for stocks, as the S&P 500 hovers just below its February highs. The S&P 500 has rebounded sharply from its early-April selloff, as tariff-related tensions have eased. However, the US benchmark index appears to be taking a breather at some 2.7% below its February closing high. The index has gone 27 trading sessions since coming within 5% of its February high but has not yet set a new record. With Israel and Iran trading missiles, escalating threats of a sweeping conflict in the Middle East sent oil prices sharply higher and led to caution in markets. 'We're all waiting on pins and needles to see what happens with the Israel-Iran situation,' said Brian Jacobsen, chief economist at Annex Wealth Management. So far, the oil market has absorbed most of the impact from geopolitical turmoil, with equities relatively stable. Yet stock investors remain concerned that higher oil prices could stoke inflation and upset plans for interest rate cuts from the Federal Reserve. On Wednesday, the Fed held rates steady and policymakers signaled borrowing costs are still likely to fall this year. But they estimated the overall pace of expected future rate cuts would be slower than they saw at their March meeting. They cited expectations that higher inflation would flow from President Donald Trump's tariff plans. 'The question is oil prices and what that does to inflation – which has implications for monetary policy and how long the Fed keeps rates 'meaningfully restrictive',' said Sonu Varghese, global macro strategist at Carson Group. The big near-term risk for equities, investors said, was if the US were to join Israel's bombing campaign against arch-enemy Iran. Trump is keeping the world guessing whether the US would join Israel's bombardment of Iranian nuclear and missile sites, as residents of Iran's capital Tehran streamed out of the city on the sixth day of the air assault. The White House said on Thursday that Trump would decide on US action in the next two weeks. 'If we were to see the US enter the war or further escalation in the attacks between the two countries, that would give the S&P 500 and equity markets more reasons to react negatively,' said Damian McIntyre, head of multi-asset solutions at Federated Hermes in Pittsburgh. On the other hand, a de-escalation in Middle East tensions could prompt a relief rally for stocks. 'If both sides can kind of just slowly de-escalate, that would be positive for equity markets, positive for risk markets,' McIntyre said. 'Markets are taking a bit of a wait-and-see approach here,' he said. Still, any stock market pullbacks due to rising geopolitical tensions are likely to be fleeting, investors said.
Los Angeles Times
20-06-2025
- Business
- Los Angeles Times
U.S. stocks drift to a mixed finish as Wall Street closes another week of modest losses
U.S. stocks drifted to a mixed finish on Friday in a quiet return to trading following the Juneteenth holiday. The S&P 500 fell 0.2% to close out a second straight week of modest losses. The Dow Jones Industrial Average added 35 points, or 0.1%, and the Nasdaq composite fell 0.5%. Treasury yields also held relatively steady in the bond market after President Donald Trump said he will decide within two weeks whether the U.S. military will get directly involved in Israel's fighting with Iran. The window offers the possibility of a negotiated settlement over Iran's nuclear program that could avoid increased fighting. The conflict has sent oil prices yo-yoing over the last week, which has in turn caused see-saw moves for the U.S. stock market, because of rising and ebbing fears that the war could disrupt the global flow of crude. Iran is a major producer of oil and also sits on the narrow Strait of Hormuz, through which much of the world's crude passes. 'We're all waiting on pins and needles to see what happens with the Israel-Iran situation,' said Brian Jacobsen, chief economist at Annex Wealth Management. 'These types of situations can stress markets, but often the best way to manage that stress is to just ride through it and not try to trade it.' On Wall Street, Kroger rose 9.8% after the grocer reported a better profit for the latest quarter than Wall Street had forecast. It also raised its forecast for an underlying measure of revenue for the full year. But while Chief Financial Officer David Kennerley said it's seeing positive momentum, the company is also still seeing an uncertain overall economic environment. CarMax climbed 6.6% after the auto dealer reported a stronger profit for the latest quarter than analysts expected. The company said it sold nearly 6% more used autos during the quarter than it did a year earlier. On the losing end of Wall Street was Smith & Wesson Brands, the maker of guns. It tumbled 19.8% after reporting profit and revenue for the latest quarter that fell just shy of analysts' expectations. Chief Financial Officer Deana McPherson said 'persistent inflation, high interest rates, and uncertainty caused by tariff concerns' have been hurting sales for firearms, and the company expects demand in its upcoming fiscal year to be similar to this past year's, depending on how inflation and tariffs play out. All told, the S&P 500 fell 13.03 points to 5,967.84. The Dow Jones Industrial Average rose 35.16 to 42,206.82, and the Nasdaq composite fell 98.86 to 19,447.41. A spate of companies has been adjusting or even withdrawing their financial forecasts for 2025 because of all the uncertainty that tariffs are creating for customers and for suppliers. Everyone is waiting to see whether Trump will reach trade deals with other countries that could lower his tariffs on imports, many of which are currently on pause. It's not just corporate America that's waiting. The Federal Reserve has been keeping its main interest rate on hold this year, with its latest such decision coming earlier this week, because it wants to see more data about how much tariffs will grind down on the economy and push up inflation. In the bond market, Treasury yields held relatively stable. The yield on the 10-year Treasury edged down to 4.37% from 4.38% late Wednesday. The two-year yield, which more closely tracks expectations for what the Fed will do, fell to 3.90% from 3.94%. In stock markets abroad, indexes were mixed across Europe and Asia. Tokyo's Nikkei 225 index slipped 0.2% after Japan reported that its core inflation rate, excluding volatile food prices, rose to 3.7% in May, adding to challenges for Prime Minister Shigeru Ishiba's government and the central bank. Choe and Cerojano write for Associated Press.
Zawya
20-06-2025
- Business
- Zawya
Stocks take a breather as investors assess geopolitics, economic data
Investors will focus on the Israel-Iran conflict and U.S. economic data releases next week to assess the near-term outlook for stocks, as the S&P 500 hovers just below its February highs. The S&P 500 has rebounded sharply from its early-April selloff, as tariff-related tensions have eased. However, the U.S. benchmark index appears to be taking a breather at some 2.7% below its February closing high. The index has gone 27 trading sessions since coming within 5% of its February high but has not yet set a new record. With Israel and Iran trading missiles, escalating threats of a sweeping conflict in the Middle East sent oil prices sharply higher and led to caution in markets. "We're all waiting on pins and needles to see what happens with the Israel-Iran situation," said Brian Jacobsen, chief economist at Annex Wealth Management. So far, the oil market has absorbed most of the impact from geopolitical turmoil, with equities relatively stable. Yet stock investors remain concerned that higher oil prices could stoke inflation and upset plans for interest rate cuts from the Federal Reserve. On Wednesday, the Fed held rates steady and policymakers signaled borrowing costs are still likely to fall this year. But they estimated the overall pace of expected future rate cuts would be slower than they saw at their March meeting. They cited expectations that higher inflation would flow from President Donald Trump's tariff plans. "The question is oil prices and what that does to inflation – which has implications for monetary policy and how long the Fed keeps rates "meaningfully restrictive"," said Sonu Varghese, global macro strategist at Carson Group. The big near-term risk for equities, investors said, was if the U.S. were to join Israel's bombing campaign against arch-enemy Iran. Trump is keeping the world guessing whether the U.S. would join Israel's bombardment of Iranian nuclear and missile sites, as residents of Iran's capital Tehran streamed out of the city on the sixth day of the air assault. The White House said on Thursday that Trump would decide on U.S. action in the next two weeks. "If we were to see the U.S. enter the war or further escalation in the attacks between the two countries, that would give the S&P 500 and equity markets more reasons to react negatively," said Damian McIntyre, head of multi-asset solutions at Federated Hermes in Pittsburgh. On the other hand, a de-escalation in Middle East tensions could prompt a relief rally for stocks. "If both sides can kind of just slowly de-escalate, that would be positive for equity markets, positive for risk markets," McIntyre said. "Markets are taking a bit of a wait-and-see approach here," he said. Still, any stock market pullbacks due to rising geopolitical tensions are likely to be fleeting, investors said. "History says that usually military shocks are shallow and short-lived, and so until further notice, I think that's how Wall Street will react to this one," Sam Stovall, chief investment strategist at CFRA Research, said. Investors will also parse a slew of incoming data releases, including U.S. business activity and housing sales on Monday, consumer confidence numbers on Tuesday and the PCE Price Index on Friday. U.S. consumer confidence plunged in the past few months, with households fearing tariffs could prompt a recession and higher inflation. However, with inflation in check and the U.S. reaching a truce in its trade fight with China, investors expect to see a pickup in sentiment. "Remember, the survey-based data all got crushed in the March, April, May time frame ... my expectation is we're still going to see an improvement," Mark Hackett, chief market strategist at Nationwide said. (Reporting by Saqib Iqbal Ahmed; Editing by Alden Bentley, David Gregorio and Susan Fenton)
