Tag Archives: Tariffs

A late push sends Wall Street near its records

A late push sends Wall Street near its records

Stocks closed higher on Wall Street after an afternoon push left major indexes just below their recent records. The S&P 500 rose 0.4% Tuesday after drifting between small gains and losses for much of the day. The Dow Jones Industrial Average added 0.3%, and the Nasdaq composite rose 0.4%. Boeing rose 3.5% after Korean Air announced a $50 billion deal with the company that includes buying more than 100 aircraft. Dish Network parent EchoStar surged 70.2% after AT&T said it will buy some of its wireless spectrum licenses in a $23 billion deal. Treasury yields held steady.… Continue Reading

Tariffs aren’t keeping Walmart from attracting shoppers and outpacing Target

Tariffs aren’t keeping Walmart from attracting shoppers and outpacing Target

NEW YORK (AP) — Walmart is showing it can keep pulling in shoppers and outpacing rivals like Target in an uncertain economic environment. and tariff concerns to deliver solid second-quarter financial results Thursday, showing it keeps pulling in shoppers and outpacing peers like Target. The nation’s largest retailer delivered solid second-quarter financial results on Thursday. It reported a 4.6% quarterly increase in comparable sales, or those coming from established stores and online channels. Company executives say Walmart is attracting customers with fast deliveries, grocery discounts and trendier clothes. The earnings of the Bentonville, Arkansas, company differed notably from those of Target, which on Wednesday reported another quarter of comparable sales declines.… Continue Reading

US stocks rally to records on hopes for cuts to interest rates

US stocks rally to records on hopes for cuts to interest rates

NEW YORK (AP) — The U.S. stock market rallied to records after data suggested inflation across the country was a touch better last month than economists expected. The S&P 500 rose 1.1% Tuesday and topped its all-time high set two weeks ago. The Dow Jones Industrial Average climbed 483 points, and the Nasdaq composite jumped 1.4% to set its own record. Stocks got a lift from hopes that the better-than-expected inflation report will give the Federal Reserve leeway to cut interest rates at its next meeting in September. Lower rates can give the economy and investment prices a boost.… Continue Reading

Dow leaps 585 points as US stocks win back most of Friday’s wipeout

Dow leaps 585 points as US stocks win back most of Friday’s wipeout

NEW YORK (AP) — U.S. stocks rallied and won back most of their sharp loss from last week. The S&P 500 jumped 1.5% Monday to follow up its worst day since May with its best since May. The Dow Jones Industrial Average climbed 585 points, or 1.3%, and the Nasdaq composite leaped 2%. Gains for Tyson Foods and other companies following their better-than-expected profit reports helped offset a drop for Berkshire Hathaway. This upcoming week may have fewer fireworks on Wall Street than last week, which was punctuated by a disappointingly weak report on the U.S. job market.… Continue Reading

Wall Street ticks up to another record as GM and others show how tariffs are impacting them

Wall Street ticks up to another record as GM and others show how tariffs are impacting them

NEW YORK (AP) — Wall Street inched to another record following some mixed profit reports, as General Motors and other big U.S. companies gave updates on how much President Donald Trump’s tariffs are hurting or helping them. The S&P 500 rose 0.1% Tuesday to beat the all-time high it set a day earlier. The Dow Jones Industrial Average added 0.4%, and the Nasdaq composite fell 0.4% from its record. General Motors dropped despite reporting a stronger profit than expected, as it still sees a $4 billion to $5 billion hit this year because of tariffs. Homebuilders soared following their better-than-forecast profit reports. Treasury yields eased.… Continue Reading

Beef prices have soared in the US — and not just during grilling season

Beef prices have soared in the US — and not just during grilling season

OMAHA, Neb. (AP) — Anyone firing up the grill this summer already knows hamburgers and steaks are expensive, but the latest numbers show prices have climbed to record highs. And experts say consumers shouldn’t expect much relief soon either. According to U.S. government data, the average price of a pound of ground beef rose to $6.12 in June, up nearly 12% from a year ago. The average price of all uncooked beef steaks rose 8% to $11.49 per pound. But this is not a recent phenomenon. Beef prices have been steadily rising over the past 20 years because the supply of cattle remains tight while beef remains popular. That’s not likely to change.… Continue Reading

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

Trump announces 30% tariffs against EU, Mexico to begin Aug. 1, rattling major US trading partners

BRIDGEWATER, N.J. (AP) — President Donald Trump has announced he’s levying tariffs of 30% against the European Union and Mexico starting Aug. 1. Trump detailed the planned tariffs Saturday in letters posted to his social media account. It’s a move that could cause massive upheaval between the U.S. and two of its biggest trade partners. European Union Commission President Ursula von der Leyen said the EU may adopt “proportionate countermeasures” if Trump moves ahead with the tariffs. Mexico’s government in a statement described the proposed move by Trump as “unfair treatment.” The letters are part of an announcement blitz by Trump of new tariffs with allies and foes alike, a bedrock of his 2024 campaign that he said would set the foundation for reviving a U.S. economy.… Continue Reading

S&P 500 and Nasdaq composite pull back from their all-time highs

S&P 500 and Nasdaq composite pull back from their all-time highs

Stocks closed lower on Wall Street, pulling the S&P 500 and the Nasdaq composite below the records they set a day earlier. The S&P 500 fell 0.3% Friday. The Dow Jones Industrial Average gave back 0.6%. The Nasdaq composite slipped 0.2%. Levi Strauss jumped 11% after the jeans maker easily beat Wall Street’s sales and profit targets and raised its full-year forecast, despite expecting higher costs from tariffs. European markets closed broadly lower, and Asian markets closed mixed. Treasury yields rose in the bond market. The yield on the 10-year Treasury note climbed to 4.42%.… Continue Reading

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street is mixed amid Trump’s new tariff deadlines

Wall Street ended mixed a day after a broad sell-off in response to the Trump administration setting new tariffs on more than a dozen nations. The S&P 500 slipped 0.1% Tuesday. The Dow Jones Industrial Average fell 0.4%, and the Nasdaq composite was little changed. The sluggish trading came a day after the S&P 500 had is biggest drop since June as President Donald Trump announced a 25% tax on imports from Japan and South Korea and new tariff rates on other nations scheduled to go into effect Aug. 1. The S&P 500 remains near the record it set last week.… Continue Reading

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

Fed leaves key rate unchanged as it awaits the impact of tariffs and Trump again scolds Powell

WASHINGTON (AP) — The Federal Reserve kept its key rate unchanged Wednesday as it waits for additional information on how tariffs and other potential disruptions will affect the economy this year. The Fed’s policymakers signaled they still expect to cut rates twice this year, even as they also project that President Donald Trump’s import duties will push inflation higher. They also expect growth to slow and unemployment to edge up, according to their latest quarterly projections. Fed policymakers had cut their rate three times late last year but have since have been on hold.… Continue Reading

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