Lori Calvasina, RBC, joins ‘Fast Money’ to talk her year-end S&P 500 forecast after stocks plummet following Trump’s tariff announcements. Source link
Author: usaeverydaylife
After President Donald Trump’s new tariffs crushed global stocks for a second consecutive day, CNBC’s Jim Cramer said next week’s earnings reports will provide a first look at how CEOs are dealing with the fallout.Big bank earnings headline the upcoming week, alongside inflation data. No matter what the numbers reveal, though, Cramer said the direction of the market will depend on Trump’s next move. The tariff-driven market rout could end soon if Trump grants relief to trading partners, he said, or it could suddenly get worse as it did on Black Monday in 1987.”If President Trump stays intransigent and does…
President Donald J Trump addresses a joint session of Congress as Vice President JD Vance and Speaker of the House Mike Johnson (R-LA) listen in the Capitol building’s House chamber on Tuesday, March 04, 2025 in Washington, DC. Jabin Botsford | The Washington Post | Getty ImagesPresident Donald Trump is on a tariff spree — and it’s unclear if Congress will try to stop him even as it has the potential power to do so.Trump unveiled a nearly global tariff regime on Wednesday, slapping a blanket 10% duty on almost every country on the planet and saddling dozens of them with…
Igor Golovniov | SOPA Images | Lightrocket | Getty ImagesAffirm shares have plunged nearly 30% over the past two trading days and are on track to close out their second-worst week on record, following President Donald Trump’s sweeping tariff announcement on Wednesday.Widespread tariffs could represent a particular problem for Affirm because the provider of buy now, pay later loans is reliant on consumer spending, and economists expect prices to rise on all sorts of goods. The news got worse on Friday when Affirm rival Klarna delayed its long-anticipated initial public offering due to market volatility.Klarna had planned to debut on…
President Trump said this week that Iranian-backed Houthi militants in Yemen have been “decimated by the relentless strikes” that he ordered beginning on March 15.But that’s not what Pentagon and military officials are privately telling Congress and allied countries.In closed briefings in recent days, Pentagon officials have acknowledged that there has been only limited success in destroying the Houthis’ vast, largely underground arsenal of missiles, drones and launchers, according to congressional aides and allies.The officials briefed on confidential damage assessments say the bombing is consistently heavier than strikes conducted by the Biden administration, and much bigger than what the Defense…
(Check out Carter’s worthcharting.com for actionable recommendations and live nightly videos.) The 4,850 level is a key reference point for the S & P 500 Index , which is about 5% from here. The market’s peak in 2021 following its post-Covid surge was 4,850. Our work continues to suggest that the market is headed down to the 2021 peak. The 4,850 level is also a key reference point in terms of where the market’s 5-year uptrend line comes into play — the uptrend line in effect since the 2020 Covid low. Our work continues to suggest that the market is headed down…
The ‘Fast Money’ traders react to tariff turmoil as markets nosedive. Source link
Two Wall Street firms slashed their year-end targets for the S & P 500 , the latest sign of mounting uncertainty among market strategists this week after President Donald Trump’s tariff rollout torpedoed stocks. Lori Calvasina, RBC’s head of U.S. equity strategy, chopped her S & P 500 target by more than 10%, to 5,550 from 6,200. The new projection suggests a decline of more than 5% from where the index ended 2024. Her new target is a low on Wall Street, according to CNBC Pro’s survey of sell-side market strategists. For now, the consensus S & P 500 target…
The seal of the US Department of Justice in Washington, DC on March 21, 2024. Mandel Ngan | Afp | Getty ImagesA New York federal judge on Friday ordered the jailing of convicted drug dealer and predatory lender Jonathan Braun, whose 10-year prison sentence was commuted in 2021 by President Donald Trump, after a string of arrests over the past seven months.Braun was arrested last weekend on Long Island on state charges of assaulting an acquaintance and that man’s three-year-old child, The New York Times revealed Tuesday.Before that, he was arrested four other times on state charges, including for allegedly assaulting…
President Trump’s new tariffs on goods that the U.S. imports from over 100 countries will have an effect on consumers, former Microsoft CEO Steve Ballmer told CNBC on Friday. Investors will feel the pain, too.Microsoft’s stock dropped almost 6% in the past two days, as the Nasdaq wrapped up its worst week in five years.”As a Microsoft shareholder, this kind of thing is not good,” Ballmer said, in an interview with Andrew Ross Sorkin that was tied to Microsoft’s 50th anniversary celebration. “It creates opportunity to be a serious, long-term player.” Ballmer was sandwiched in between Microsoft co-founder Bill Gates…
