This comes after Apple CEO Tim Cook announced that the iPhone maker plans to move its manufacturing from China to India after President Trump’s reciprocal tariffs were announced on April 2.
The economic calendar for the day is fairly light, with speeches by a few Federal Reserve officials and the Commerce Department’s new home sales report for April on tap.
Wall Street edges higher as GOP tax bill clears the House and bond yields ease, helping investors shake off prior losses while digesting mixed May business activity data.
A strategist said that, against the backdrop of trade policy uncertainty, it is prudent to keep tactical asset allocations closer to benchmarks than when there is more economic clarity.
U.S. equities trading was mixed on Wednesday, with major indices showing limited movement by midday as investors remained cautious amid renewed concerns over fiscal policy, which pressured Treasury bonds and the dollar.
U.S. stocks pulled back Tuesday morning as Wall Street recalibrated expectations on growth and inflation amid rising fiscal risks tied to President Donald Trump's sweeping tax proposal.
U.S. stocks trimmed early-session losses by midday Monday, as investors showed limited concern after Moody's downgraded U.S. sovereign credit from Aaa to Aa1, effectively stripping the world's largest economy of its last top-tier credit rating.
According to Dalio, Moody’s downgrade only focuses on the government’s capacity to repay its debt, not the risk of its being able to print more money to repay that debt.
Shares of the company plunged more than 23% last week, hitting a new five-year low on Thursday after a Wall Street Journal report that the DoJ is conducting a criminal probe into potential Medicare fraud.
Wall Street fought for a fifth consecutive day of gains on Friday, with major indexes edging slightly higher by midday in New York as investors continued to digest the week's significant trade breakthroughs and recalibrate their economic expectations.
CEO Mike Novogratz said the prolonged SEC scrutiny significantly increased Galaxy’s audit costs, noting they were well above those paid by traditional firms like Jefferies.
CEO Gary Dickerson said the company is well positioned at major technology inflections in fast-growing market areas, which supports its multi-year growth trajectory.
U.S. stocks traded mixed Thursday, with major indices posting timid midday gains as investors digested fresh economic data revealing signs of consumer strain and disinflationary pressure stemming from April's tariff escalation.
Federal Reserve Chair Jerome Powell said the economic environment has changed significantly since 2020, and the current framework review will reflect policymakers’ assessment of those changes.
San Francisco Fed President Mary Daly said the economy is on solid footing and reinforced the central bank's ability to respond to any government initiatives.
