FED: Jefferson Sticks To ‘No Need To Hurry’ Guidance Post-Liberation Day
Apr-03 16:51
Fed Governor Jefferson (permanent voter) says there is no need to hurry to make rate adjustments, re...
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US STOCKS: Early Equities Roundup: Sell First, Ask (Tariff) Questions Later
Mar-04 16:48
- Stocks continued to trade weaker at the start of the global trade war. Sell first, ask questions later as markets have yet to experience the impact of 25% US import tariffs against Canada & Mexico, 20% on China, not to mention agriculture products starting April 2.
- Currently, the DJIA trades down 686.31 points (-1.59%) at 42503.93 (lowest since mid-Jan'25), S&P E-Minis down 86.75 points (-1.48%) at 5774.5 (lowest since mid-Sep'24), Nasdaq down 205.3 points (-1.1%) at 18144.75 (lowest since early Oct'24).
- Financial and Consumer Discretionary sectors lead the broad based, carry over decline: banks and services led laggers in the former with Citigroup -7.52%, Bank of America -7.16%, Discover Financial Services -6.85%, Capital One -6.77%, KeyCorp -6.65% and Wells Fargo -6.65%.
- Aside from cruise lines whose stocks traded -7.0-7.5%, Best Buy fell 14.01% despite beating earnings estimates as tariffs are "highly likely" to raise costs BBY's CEO said. Meanwhile, Tesla fell -6.67% and GM declined 4.2%.
- On the positive side, Health Care and Consumer Staples resisted the sell-off. Molina Healthcare +3.42%, STERIS +2.60%, UnitedHealth Group +2.18% and Elevance Health +2.05% buoyed the Health Care Sector, while Walgreens Boots Alliance +6.09%, Hershey +2.34% and Dollar General +2.14% underpinned the Consumer Staples sector.
- Earnings expected after the close include: Crowdstrike Holdings, Ross Stores, Foot Locker, Campbell's, Abercrombie & Fitch, Brown-Forman Corp, Marvell Technology and Victoria's Secret.
TRUDEAU WILL ONLY CONSIDER EXPORT TAX IF THERE'S BROAD SUPPORT
Mar-04 16:43
- TRUDEAU WILL ONLY CONSIDER EXPORT TAX IF THERE'S BROAD SUPPORT
TRUDEAU SAYS TRUMP WANTS CANADIAN ECONOMY TO COLLAPSE
Mar-04 16:32
- TRUDEAU SAYS TRUMP WANTS CANADIAN ECONOMY TO COLLAPSE
- TRUDEAU SAYS CANADA WILL NEVER BE ANNEXED BY THE U.S.
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