In a post on Truth Social, President Donald Trump said the Boeing dispute was a minor example of broader harm caused by China, which he also blamed for fueling America’s fentanyl crisis via Mexico and Canada.
The company reaffirmed its full-year revenue forecast of $36 billion to $37 billion, stating that the outlook already includes a projected cost impact of $300 million to $400 million from recently imposed tariffs.
CEO Larry Culp stated that the company is responding to current macroeconomic conditions by implementing strategic measures, including cost controls and utilizing available trade programs.
My longer-term market indicator has turned decisively negative, signaling that now may not be the time to buy and hold stocks. Of course, the problem is that we don't know how low this market can go, and stocks could get a lot cheaper still.
Hang Seng Index in bear market territory, losing 20% after US tariffs on Chinese imports. ETFs with exposure to Asia, Tech and Agriculture under pressure.
The Industrial Select Sector SPDR Fund declined 2.2% Thursday morning. Investors moved to lock in profits despite a surprisingly soft inflation report that reinforced Wednesday's bullish macro shift.
