Treasury Secretary Scott Bessent on Monday said the Trump administration will make “several” trade-related announcements in the next 48 hours, signaling imminent progress even as U.S. tariff deadlines appear to be shifting.Speaking on CNBC’s “Squawk Box,” Bessent also declined, yet again, to rule out the possibility that he could serve as the next chair of the U.S. Federal Reserve, if President Donald Trump asks him to.Bessent said foreign trade officials are rushing to make deals with the United States before July 9, when high tariff rates on dozens of countries’ goods are set to snap back into effect.”We’ve had a…
Author: usaeverydaylife
Stocks such as Cisco Systems and Levi Strauss could outperform in the new quarter, according to Bank of America. The first half of the year was mired with elevated volatility as President Donald Trump’s administration introduced sweeping global tariffs. Stocks have recovered from their April lows — with the S & P 500 notching a new record close on Thursday — but could see more downside going forward, according to Bank of America. Bank strategist Savita Subramanian’s updated year-end forecast for the S & P 500 sits at 5,600, or roughly 11% below the benchmark’s Thursday closing level. Bank of…
Energy companies have always held a special place for me because one of the first products I traded when I first entered the business in the mid-1990s was options on the Philadelphia Oil Services Index and its associated constituents. Some of the names in the index have changed since then, but Schlumberger remains the largest. A leading oilfield services company, Schlumberger faces a complex landscape in 2025. Ultimately, its economic fortunes rise and fall with the tide of oil prices. Lately, that tide has been going out. Despite tariff uncertainties, the International Energy Agency sees global oil demand growing modestly…
A lesser-known policy elimination in the Republican tax and spending bill may further dampen the outlook for Tesla shares, according to William Blair. Analyst Jed Dorsheimer on Monday downgraded Tesla to market perform from outperform. The bill, which was signed into law Friday by President Donald Trump and approved by Congress last week, expands Trump’s 2017 Tax Cuts and Jobs Act — making most existing tax rates permanent — while also increasing spending for the administration’s defense, deportation and national security efforts and cutting health care and nutrition programs. Directly affecting Tesla is the bill’s elimination of a $7,500 tax credit…
An apology can be a crucial opportunity to spark positive change and build trust.That’s especially true for bosses and leaders, who sometimes have to make public statements acknowledging missteps or give internal apologies to their employees. Take Air India CEO Campbell Wilson, for example. In a June 12 video, shortly after an airplane crash that killed over 260 people, Wilson delivered remarks that drew hundreds of comments.Some called for his resignation, while others thanked Wilson for his effort. And some viewers noticed identical language in a public apology from American Airlines CEO Robert Isom, who released a statement after a…
The euro has seen significant gains against the dollar amid uncertainty around President Trump’s tariffs policies.Matt Cardy | Getty Images News | Getty ImagesThe euro’s global importance will continue to strengthen this year while political forces fuel further gains against the U.S. dollar, according to central bankers and strategists.Speaking at an economic forum in Aix-en-Provence, France, last week, officials at the European Central Bank said that, while the euro may be a long way off threatening the greenback as the top global reserve asset, the currency will increasingly be seen as a stable alternative as long as it has supportive…
Check out the companies making the biggest moves in premarket trading: Tesla — The E.V-maker tumbled 6% after CEO Elon Musk said he would form a new political party called “America Party.” Musk has been engaged in a feud with President Donald Trump, who called the new party “ridiculous.” Geo Group , CoreCivic — The private prison companies gained 7.6% and 5.4%, respectively. Trump’s so-called big, beautiful bill spending and tax cut bill, signed into law on July 4, includes a significant increase in funding for immigration detention centers. Molina Healthcare — The managed care stock gained 1% after Molina’s…
Here are Monday’s biggest calls on Wall Street: William Blair downgrades Tesla to market perform from outperform William Blair said it’s concerned about the effect on Tesla from the Big Beautiful bill passage. “The ‘Big, Beautiful Bill’ Might Be Too Much for Tesla Shares, Downgrading to Market Perform.” Read more . UBS initiates GE Vernova as buy UBS said it sees a slew of positive catalysts ahead for the clean energy company. “We are initiating coverage on GE Vernova (GEV) with a Buy rating and a $614 price target, representing 20% upside potential.” CLSA initiates General Motors as outperform CLSA…
Citi see an expanding market for Nvidia’s AI business as the company leads global sovereign AI build-outs and continues to scale Blackwell. Analyst Atif Malik raised his price target on Nvidia to $190 from $180, which suggests shares can jump 19.2% from their latest close. Malik’s bullish thesis is partly driven by the uptick in sovereign AI demand , which refers to nations’ efforts to produce and control their own AI infrastructure and data. “We believe sovereign demand is already contributing up to billions of dollars in 2025 and expect the mix of sovereign AI sales to step up in…
Investors are hoping that — after months of uncertainty and market volatility — trade deals between the U.S. and several key trading partners will be announced this week. President Donald Trump said overnight that letters were due to be delivered from 12 p.m. ET Monday to countries, either confirming trade pacts or notifying them of the duties set to be charged on their goods as they enter the U.S. A 90-day reprieve on Trump’s so-called reciprocal tariffs is due to end on July 9. The administration has now indicated, however, that any new duties — which Trump has said could…
