JPMorgan is less certain on the bank sector after the United States lifted tariffs on all imports entering the country. In a Thursday note, JPMorgan analyst Vivek Juneja cut his earnings estimates for U.S. banks, and warned that “there is potential for further cuts,” due to President Donald Trump’s tariff changes Wednesday. While the regulatory environment remains positive under the current administration, easing or lifting those rules will take time to play out, Juneja said. “We expect the tariffs announcement will increase concerns about the impact on the economy and pressure markets overall … Banks would be impacted by these…
Author: usaeverydaylife
Citi believes that two off-price retailers could benefit from the new tariffs unveiled by President Donald Trump: TJX and Ross Stores . Analyst Paul Lejuez upgraded both stocks to buy from neutral. He raised his price target on TJX to $140 from $128, implying upside of 12%. He maintained his Ross target of $146, which signals a gain of more than 10%. “Tariffs are likely to create significant disruption in the mkt, greatly increasing the availability of product available to off-pricers at attractive prices,” he wrote. “We view off-price as defensively positioned in the near-term, but well-positioned for continued growth…
The Stellantis Windsor Assembly Plant in Windsor, Ontario, Canada, on Tuesday, Feb. 4, 2025.Bloomberg | Bloomberg | Getty ImagesShares of some of the world’s biggest automakers appeared surprisingly resilient on Thursday, even after U.S. President Donald Trump’s 25% tariffs on foreign auto imports came into effect.Europe’s Stoxx Autos index was last seen trading 1.8% lower, paring losses after falling more than 2% shortly after the opening bell.Germany’s Volkswagen, Mercedes-Benz Group and BMW were all trading around 2% lower at 11:45 a.m. London time (6:45 a.m. ET), while Milan-listed Stellantis dipped 1%. Shares of Sweden’s Volvo Cars, however, tumbled more than…
Zach Perret, CEO and co-founder of Plaid, speaks during the Silicon Slopes Tech Summit in Salt Lake City, Utah, U.S., on Jan. 31, 2020.George Frey | Bloomberg via Getty ImagesPlaid on Thursday announced a new funding round that values the fintech startup at $6 billion, down from $13.4 billion in 2021. The new funding will give some employees a way to cash out.The $575 million round was led by a batch of new investors including Franklin Templeton, Fidelity and BlackRock. Existing backers NEA and Ribbit Capital also participated, Plaid said.Plaid CEO Zach Perret said the startup saw a “substantial” growth…
Pharma companies breathe sigh of relief after Trump tariffs — for nowPharmaceutical companies breathed a sigh of relief Wednesday after U.S. President Donald Trump revealed that they would not be subject to reciprocal tariffs — but that reprieve could prove fleeting as the White House moves ahead with plans for the sector.The Trump administration is considering launching a so-called 232 investigation into pharmaceuticals, among other industries, which could lead to import duties under the Trade Expansion Act, Bloomberg cited a senior administration official as saying on Wednesday.The White House did not immediately respond to CNBC’s request for confirmation.”The pharmaceutical companies…
New York City Mayor Eric Adams holds a press briefing after former Governor Andrew Cuomo enters the mayoral race on March 03, 2025 in New York United States.Selcuk Acar | Anadolu | Getty ImagesFresh off the dissolution of his criminal corruption case, New York City Mayor Eric Adams says he’s back to focusing on working for New Yorkers. He just plans to do it with another party.The embattled Democrat announced Thursday that he will run instead for mayor as an independent, leaving Andrew Cuomo, who resigned as governor of New York amid a sexual harassment controversy, the primary contender at…
Laptop computers from Taiwan, wine from Italy, frozen shrimp from India, Nike sneakers from Vietnam and Irish butter.These products are found in homes across the United States, a testament to America’s enduring role as a champion of free trade and its standing as the most lucrative market for goods from around the world.They are now among the vast categories of goods subject to additional taxes after President Trump, on Wednesday, imposed universal tariffs on all U.S. trade partners as well as additional, heavier duties on 60 countries he deemed the “worst offenders” of unfair trade practices.In a sharp shift away…
File: workers at the Maxport factory, which makes activewear for various textile clothing brands, in Hanoi. Nhac Nguyen | Afp | Getty ImagesRetailers and brands have turned to Vietnam to manufacture goods from sneakers to couches while moving some or all production out of China.For years, China’s southern neighbor became a popular alternative for companies trying to avoid the crossfire of U.S. trade tensions with Beijing. Now, as President Donald Trump expands his tariff targets, they can no longer steer clear.Trump said he will put a 46% duty on imports from Vietnam as part of a new wave of global levies…
U.S. President Donald Trump inspects a Guard of Honour at Buckingham Palace on June 3, 2019, in London.Toby Melville | Getty ImagesU.K. Prime Minister Keir Starmer told business leaders in Downing Street on Thursday that while President Donald Trump has a “mandate” to act in the interests of his country, the U.K. has a right to respond to the 10% levy the White House decided to impose on the country’s imports to the States.Still, he called for “cool heads” as he said that Britain would “move now to the next phase of our plan.””Decisions we take in the coming days…
BERLIN, GERMANY – FEBRUARY 24: Robert Habeck, chancellor candidate of the German Greens Party, speaks to the media the day after German parliamentary elections on February 24, 2025 in Berlin, Germany. The Greens came in fourth place with 11.6% of the vote, down 2.9% from the previous election. (Photo by Sean Gallup/Getty Images)Sean Gallup | Getty Images News | Getty ImagesU.S. President Donald Trump will “buckle under pressure” and alter his tariff policies if Europe bands together, acting German economy minister Robert Habeck said Thursday.”That is what I see, that Donald Trump will buckle under pressure, that he corrects his…
