Wall Street is poised to conclude the week on a cautious note, with equities easing on Friday after President Donald Trump signaled a more aggressive trade stance.
Rubio also met with Chinese Foreign Minister Wang Yi on the sidelines of the ASEAN summit, describing the meeting as “constructive” and noting that both sides agreed to maintain dialogue and manage their differences.
Bitcoin’s rally wasn’t enough to keep Robinhood shares in the green after Florida’s Attorney General opened an investigation into the firm over alleged ‘deceptive’ low-cost trading practices.
FactSet said in a report released last week that the year-over-year earnings growth of S&P 500 companies would be 5%, marking the smallest increase since the fourth quarter of 2023.
The Nasdaq Composite climbed to an all-time high of 20,641 after the opening bell before paring gains and slipping back into the red. The Dow Jones Industrial Average and S&P 500 hovered near the flatline.
ConAgra (CAG), Delta Air Lines (DAL), Helen of Troy (HELE), Levi Strauss (LEVI), and WD-40 (WDFC) are among the notable names reporting earnings Thursday.
Wall Street rose on Wednesday as investors shrugged off fresh trade uncertainty after the White House delayed the start of new tariffs to Aug. 1, raising hopes for new rounds of negotiations.
Trump warned on Wednesday that he would be issuing letters to at least seven countries today but so far, only six letters have been released. More trade letters are expected in the afternoon.
Pharmaceutical investors are being cautious, with concerns over potential supply disruptions, cost pressures, and uncertainty regarding policy implementation.
U.S. stocks were little changed on Tuesday as investors stayed cautious following a series of letters from the White House to major trading partners, outlining sweeping new tariffs.
Among the Main Street catalysts that could impact trading are the National Federation of Independent Business (NFIB) optimism index, due at 6 a.m. ET, and the Federal Reserve’s consumer credit report scheduled for 3 p.m. ET.
President Donald Trump sent markets into a tailspin Monday after officially announcing sweeping 25% tariffs on all imports from Japan and South Korea, starting Aug. 1. The new tariffs apply to all goods from the two Asian economies and are in addition to any existing sector-specific duties.
Vietnamese officials acknowledged progress in the long-awaited trade agreement between the two sides but clarified that the terms are still under government review.
U.S. stocks climbed on Wednesday, with the S&P 500 setting fresh record highs after a surprise decline in private payrolls boosted expectations of Federal Reserve rate cuts.
The sharpest job cuts were concentrated in the service sector. Professional and business services saw a decline of 56,000 roles, while education and health services lost 52,000 roles.
