Deputy chairman of Russia’s Security Council, Dmitry Medvedev, made remarks Trump described as “foolish and inflammatory,” prompting the move as a precaution.
It's a rough start to the new month for Wall Street, as major U.S. stock indices plunged by midday Friday, setting the stage for a negative weekly close.
On Thursday, stocks succumbed to concerns about tariffs and macroeconomic worries, which offset the optimism generated by solid quarterly results from Meta and Microsoft.
Senators are concerned that President Donald Trump’s tariffs on Brazil are being used to stop the prosecution of former Brazilian President Jair Bolsonaro.
On Wednesday, the major averages closed on a mixed note, as traders were left unimpressed by the Fed's decision and Chair Powell’s comments at the press conference that followed the meeting.
The White House said the tariff has been implemented to deal with recent policies, practices, and actions of the Brazilian government, which present a “national security” threat to the U.S.
According to preliminary government data released on Wednesday, inflation-adjusted GDP, which measures the value of goods and services produced in the U.S., increased an annualized 3%.
In a post on Truth Social, President Donald Trump called India’s tariffs “among the highest in the world” and criticized its purchases of Russian energy and military equipment.
President Donald Trump’s comments come after Commerce Secretary Lutnick and other officials stated that the deadline was unlikely to shift, with no extension or grace periods planned beyond August 1.
Microsoft has beaten revenue and earnings per share estimates from analysts in the last nine straight quarters. Investors look for another beat and strength in AI and cloud.
Risk appetite took a breather Tuesday, with major U.S. stock indices retreating modestly from record highs as investors braced for a pivotal stretch of earnings and macro events.
U.S. Commerce Secretary Howard Lutnick said Trump is likely to announce a new policy targeting drug manufacturing within the next two weeks, and pharmaceuticals not made in the U.S. could face ‘massive’ tariffs.
In the upcoming session, the spotlight is likely to be on the Federal Open Market Committee meeting that gets underway, the results of the Job Openings And Labor Turnover Survey, and the Conference Board’s July consumer confidence data.
Wall Street opened the week slightly higher, led by gains in energy stocks, while the U.S. dollar posted its strongest performance in over two months, as markets reacted to the U.S.-EU trade deal struck over the weekend.
The week’s economic news flow is headlined by key catalysts, including the Federal Reserve rate-setting meeting, July non-farm payrolls report, and the June personal income and spending report.
Wall Street looked set to close the week on a high note, with large-cap benchmarks pushing higher in Friday's midday trading as optimism over corporate earnings and progress on global trade talks provided support for risk assets.
