The tariffs announced this week by President Donald Trump have significantly increased the chances of a U.S. and global economic downturn, according to JPMorgan. “These policies, if sustained, would likely push the US and possibly global economy into recession this year,” wrote Bruce Kasman, head of global economic research, in a note late Thursday. The economist puts the odds of a recession this year now at 60%, up from 40% before the tariff rollout. Even if the global economy does avoid a recession, the U.S. may not be as lucky, Kasman said. “Scenario where rest of world muddles through a…
Author: usaeverydaylife
Job growth was stronger than expected in March, providing at least temporary reassurance that the labor market is stable, the Labor Department reported Friday.Nonfarm payrolls increased 228,000 for the month, up from the revised 117,000 in February and better than the Dow Jones estimate for 140,000, according to the Bureau of Labor Statistics.However, the unemployment rate moved up to 4.2%, higher than the 4.1% forecast.This is breaking news. Please refresh for updates.Get Your Ticket to Pro LIVEJoin us at the New York Stock Exchange!Uncertain markets? Gain an edge with CNBC Pro LIVE, an exclusive, inaugural event at the historic New York…
Trump’s Friday schedule from Mar-a-Lago: Nothing, then dinnerPresident Donald Trump and his son, Eric Trump, drive in a golf cart after he arrived on Marine One at the LIV Golf Miami golf tournament at Trump National Doral.Sam Navarro-Imagn Images | ReutersTrump’s schedule for Friday is clear, save for attending a “Candlelight Dinner” for the super political action committee MAGA Inc., according to the White House.The dinner is at Trump’s Palm Beach club and residence, Mar-a-Lago. Trump arrived there Thursday evening after catching another dinner for the LIV golf tour at his Doral Golf Club in Miami.— Kevin BreuningerSnap-on CEO Nick…
An employee mounts a VW logo on a new Volkswagen Tiguan at the VW main plant.Picture Alliance | Picture Alliance | Getty ImagesAuto giants have responded to U.S. President Donald Trump’s tariffs by announcing plans to raise prices, impose import fees, pause production and even layoff staff.As part of plans designed to shift production to U.S. factories and bolster American jobs, the Trump administration on Thursday introduced 25% tariffs on foreign auto imports. The White House also said it intends to place tariffs on some auto parts no later than May 3.The measures, which were separate to Trump’s sweeping new…
Microsoft CEO Satya Nadella speaks during the Microsoft Build conference at Microsoft headquarters in Redmond, Washington, on May 21, 2024.Jason Redmond | AFP | Getty ImagesA half-century ago, childhood friends Bill Gates and Paul Allen started Microsoft from a strip mall in Albuquerque, New Mexico. Five decades and almost $3 trillion later, the company celebrates its 50th birthday on Friday from its sprawling campus in Redmond, Washington.Now the second most valuable publicly traded company in the world, Microsoft has only had three CEOs in its history, and all of them are in attendance for the monumental event. One is current…
President Trump’s tariffs mean that companies across the European Union and around the world are at risk of losing access to the world’s largest consumer market.Naturally, they are looking for the next big thing. Statistically speaking, that would mean China.The E.U. has the second-largest consumer market in the world behind America; China is third. But China and the E.U. have not exactly been cozy in recent years. Europe has regularly blasted China for overproducing and dumping artificially cheap products on the global market, and European leaders have criticized China’s stance toward Russia’s war in Ukraine, among other political and social…
It’s milestone month for the exchange-traded fund industry.Actively managed ETFs now have more than $1 trillion in assets under management, according to independent research firm ETFGI.That’s roughly the market cap of Berkshire Hathaway, Saudi Arabia’s gross domestic product and the value of 121 New York Yankees franchises.The ETF Store’s Nate Geraci thinks it will grow even bigger due to the appetite for new active investing strategies.”It’s interesting for an industry where the roots are passively managed products. That’s what the industry was built on,” the firm’s president told CNBC’s “ETF Edge” this week. “It’s interesting to see active ETFs getting…
A trade war between the U.S. and China is quickly escalating as Beijing hit back with retaliatory tariffs against President Donald Trump’s steep duties. For investors on edge about the market turmoil, here are the stocks that could be hurt the most due to their China exposure. China’s finance ministry on Friday said it will impose a 34% tariff on all goods imported from the U.S. starting on April 10. Beijing criticized Washington’s decision to impose 34% of additional reciprocal levies on China — bringing total U.S. tariffs against the country to 54% — as “inconsistent with international trade rules.” The stock market…
U.S. Treasury yields continued to plummet on Friday, with 10-year Treasury yield falling well below 4%, after China retaliated against President Donald Trump’s aggressive “reciprocal tariff” policy rollout, causing investors to flood into bonds for safety on fears of a global recession.The 10-year Treasury yield dropped over 17 basis points to 3.882%, falling to the lowest level since October. The yield had topped 4.8% earlier this year on hopes that Trump would rev up the U.S. economy with tax cuts.The 2-year Treasury yield shed over 22 basis points to trade at 3.50%. One basis point equals 0.01%, and yields and prices move in opposite directions.China early…
The Phillips 66 Company’s Los Angeles Refinery in California.Bing Guan | ReutersThe oil price outlook is being hit with more bearish forecasts on the back of U.S. President Donald Trump’s sweeping and market-hammering tariff announcements. Businesses and investors worry that a trade war and lower global growth lies ahead.Goldman Sachs on Thursday reduced its December 2025 forecasts for global and U.S. benchmarks Brent crude and WTI by $5 to $66 and $62 a barrel, respectively, “because the two key downside risks we have flagged are realizing, namely tariff escalation and somewhat higher OPEC+ supply.”The bank also cut its forecasts for…
