President Trump has taken a whipsaw approach to tariffs, widening and shifting course in determining which countries and goods will be subject to them.But across Mr. Trump’s political career, his case for tariffs has remained consistent, relying on a number of false and misleading claims to describe a global trade system that is “unfair” to the United States.Although Mr. Trump abruptly announced on Wednesday that he would pause steep reciprocal tariffs for 90 days, a 10 percent “base line” tariff remains in place for most imports.Here’s a guide to some of his most cited claims:Inaccurate claims about his trade policies’…
Author: usaeverydaylife
A Wells Fargo Bank branch is seen in New York City on March 17, 2020.Jeenah Moon | ReutersWells Fargo shares rose Friday after the bank reported an increase in quarterly earnings on the back of stable income from investment banking and wealth management.Here’s what the bank reported for the first quarter compared with what Wall Street was expecting, based on a survey of analysts by LSEG:Adjusted earnings per share: $1.39, 16% higher year over year but not quite comparable to the estimate of $1.24 due to a number of special items during the quarterRevenue: $20.15 billion versus $20.75 billion expectedShares of Wells Fargo…
People walk out of the Morgan Stanley global headquarters in Manhattan on March 20, 2025 in New York City. Spencer Platt | Getty ImagesMorgan Stanley on Friday reported first-quarter results that topped estimates as equity trading revenue surged 45% amid rising global volatility.Here’s what the company reported:Earnings: $2.60 a share vs. $2.20 a share LSEG estimate Revenue: $17.74 billion vs. expected $16.58 billionShares of Morgan Stanley, like those of its peers, have whipsawed in recent days as President Donald Trump’s trade policies have increased concern that the U.S. was headed for a recession.The bank’s massive wealth management business will be helped…
A slowdown in graphic processing unit sales could keep gains in check for Nvidia , according to Citi. The bank cut its price target on the artificial intelligence darling to $150 per share from $163. To be sure, Citi kept its buy rating on the stock, and the new target signals 39% upside. Citi’s lower price target comes as the firm also slashed its overall forecast for GPU sales in 2025 and 2026 by 3% and 5%, respectively, given it expects hyperscalers to slow down spending, which Microsoft has already done. “Our revised outlook is based on our expectations that…
CNBC’s Rick Santelli joins ‘Fast Money’ to talk movement in the bond market and Fed fund futures. Source link
A Major League Baseball logo at Angel Stadium in Anaheim, California, on May 22, 2022.Ronald Martinez | Getty ImagesMajor League Baseball is increasingly drawing private equity investors as the league faces major shifts in player salaries and media rights.Private equity has been gravitating toward professional sports, which sports-acquisitive firm Arctos Partners called “remarkably resilient assets” during times of economic uncertainty in a research note this week. MLB in particular is poised to attract new stakeholders with big changes on the horizon.A potential MLB lockout is looming if the league puts forth a salary cap proposal during collective bargaining negotiations in…
Bitcoin could hit $250,000 as early as this year with technology giants such as Microsoft and Apple entering the cryptocurrency space, industry veteran and founder of the Cardano blockchain Charles Hoskinson told CNBC.Crypto markets have been hammered amid a sell-off of risk assets stoked by U.S. President Donald Trump’s “reciprocal tariffs” on countries across the world. Bitcoin traded below the $77,000 mark on over the last week, but on Wednesday spiked above $82,000 as Trump dropped levies to 10% for 90 days for most countries to allow for trade negotiations.Sill, bitcoin has fallen far from its more than $100,000 record…
The flags of the European Union (L) and China stand side by side at the Chancellery on June 20, 2023 in Berlin, Germany.Sean Gallup | Getty Images News | Getty ImagesChina and the European Union are unlikely to become close allies quickly, analysts say, even as U.S. President Donald Trump’s tariffs sour relations between the world’s largest economy and both its transatlantic allies and Beijing.”I don’t see the EU and China uniting against the US,” Max Bergmann, director of the Europe, Russia, and Eurasia Program at the Center for Strategic and International Studies (CSIS) said.On a geopolitical level, the two powers…
President Donald Trump’s pause on reciprocal tariffs is not an all clear signal for investors to embrace risk assets again, according to Jeremy Siegel, professor emeritus of finance at the University of Pennsylvania’s Wharton School of Business. “We’re not out of the woods on the tariff,” Siegel said on CNBC’s ” Squawk Box .” “We’ll see what gets negotiated. It definitely will have to be negotiation with China. I don’t know whether Trump holds as many cards as he thinks he holds.” Stocks rallied violently in a kneejerk reaction to Trump’s announcement to put a 90-day pause on some of the lofty…
Netflix (NFLX) was an important stock to watch before Wednesday’s spike for several reasons, and this remains the case now. First, relative to other growth names, it had held up much better in recent weeks. It never dipped below still-rising 200-day moving average, which set it apart from many other names in the communications, consumer discretionary, and technology sectors. In fact, as of the close on Tuesday, 4/8/25, only four S & P 500 stocks with $300B+ market caps were trading above their 200-DMA: BRK.B, V, UNH, and NFLX. (Now there’s 11.) Second, NFLX never break below its January support level. That’s notable…
