Trump, Canada
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The Dow, S&P 500 and Nasdaq retreat from record highs as President Trump rolled out a fresh tariff against Canada, following Brazil hit. Meanwhile, the Federal Reserve and Chairman Powell are under fire for spending on renovations.
Investors have had their fair share of things to digest this week. Trump the tariff man has returned in force. The president slapped a 50% tariff on copper imports, powering shares of metals play Freeport-McMoRan (FCX) up almost 5% on the week.
Dan Scavino sold off at least $1 million in Truth Social stock on April 1, while Sergio Gor sold at least $15,000 a few days earlier.
Canadians have been shunning US products as a result of President Donald Trump’s trade war. Now there’s evidence some also want to see fewer US stocks in their retirement accounts and pensions funds.
Stocks moved lower in early trading Friday as investors digested the latest threats from President Donald Trump to impose hefty tariffs on U.S. trading partners.
Stock indexes edged higher on Thursday, with investors weighing the latest trade announcements from U.S. President Donald Trump, while the Brazilian real recovered some losses following Trump's announcement of a 50% tariff on goods from Brazil.
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Tax incentives contained in the sweeping tax and budget bill Trump signed on July 4 could provide a fresh boost to AI chipmakers.
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