A US Postal worker delivers Amazon boxes outside of the New York Stock Exchange (NYSE) on October 11, 2018 in New York City.Spencer Platt | Getty ImagesPresident Donald Trump on Wednesday signed an executive order ending the de minimis trade loophole for low-value packages shipped from all countries.The order, which takes effect August 29, will subject any shipments of imported goods into the U.S. worth $800 or less to duties, the White House said.Any goods shipped through the international postal network will be subject to tariff rates based on the value of the package and its country of origin.The move…
Author: usaeverydaylife
Copper pipes are displayed in a home rebuilding store on July 9, 2025 in New York City.Spencer Platt | Getty ImagesPresident Donald Trump on Wednesday signed on order imposing a universal 50% tariff on copper imports, the latest metal he has targeted with a steep import tax.The new, higher copper tariffs go into effect Friday, according to a fact sheet released by the White House.The Trump administration says that the new duties, which follow 50% U.S. tariffs already imposed on steel and aluminum, are aimed at boosting domestic industries and addressing “trade imbalances.”But experts warn that they could raise prices…
Fed governors Bowman and Waller dissent from central bank’s rate decisionFederal Reserve governors Bowman and Waller dissented on the central bank’s move to keep the benchmark interest rate at a target range of 4.25% to 4.50%.The policy-setting Federal Open Market Committee voted 9-2 to keep rates where they are.Bowman and Waller’s dissent marks the first time since late 1993 that multiple governors cast no votes on a rate decision. As recently as last month, both Bowman and Waller have advocated for the Fed to begin dialing back its policy.Read more from CNBC’s Jeff Cox on the Fed’s decision here.— Darla…
This is a comparison of Wednesday’s Federal Open Market Committee statement with the one issued after the Fed’s previous policymaking meeting in June.Text removed from the June statement is in red with a horizontal line through the middle.Text appearing for the first time in the new statement is in red and underlined.Black text appears in both statements.Zoom In IconArrows pointing outwards Source link
We first profiled Veralto (VLTO) back in April 2024 as the stock was advancing and breaking out of a bullish pattern — one of the first breakouts it experienced since going public in September 2023. That helped kick-start a great run, which abruptly ended in October after a bad reaction to earnings. The stock then fell steadily through April, finally bottoming when the market pivoted. Along the way, VLTO constructed a substantial potential bullish inverse head-and-shoulders pattern. VLTO reported earnings again Monday, and the initial reaction was strong enough for the stock to finish above the breakout zone. If that can persist, the…
WASHINGTON – A divided Federal Reserve on Wednesday voted to keep its benchmark interest rate steady, despite a barrage of criticism from President Donald Trump and dissents from two top officials.The Federal Open Market Committee, the group that sets the overnight borrowing rate, voted 9-2 to stay on hold. The federal funds rate will continue to be set in a range between 4.25%-4.5%. The level sets what banks charge each other for overnight lending, but influences a slew of other rates across the economy.However, the decision met opposition from governors Michelle Bowman and Christopher Waller, both of whom have advocated…
U.S. Treasury Secretary Scott Bessent attends a press conference at government quarters Rosenbad after the trade talks between the U.S. and China concluded, in Stockholm, Sweden, July 29, 2025. Magnus Lejhall | TT | Via ReutersTreasury Secretary Scott Bessent on Wednesday urged corporate America, investors and U.S. trade partners “not to panic” if tariff rates surge on Aug. 1 because deals have not been reached yet, saying that countries “can still do a deal” after President Donald Trump’s deadline expires.”You’re just going to go back to your April 2 reciprocal tariff level,” Bessent said at a policy event with hardline…
Mark Zuckerberg, CEO of Meta Platforms.David Paul Morris | Bloomberg | Getty ImagesMeta is set to report its second-quarter earnings on Wednesday, with analysts eyeing any changes to the company’s costs and related guidance amid CEO Mark Zuckerberg’s recent artificial intelligence hiring blitz.Here’s what analysts polled by LSEG are expecting:Earnings per share: $5.92 expectedRevenue: $44.8 billion expectedInvestors are likely to be monitoring any comments from Zuckerberg about his company’s recent spending on AI and how that technology might benefit Meta’s core online advertising business.Meta kicked off its AI hiring bonanza in June when it invested $14.3 billion into Scale AI,…
The U.S. economy grew at a much stronger-than-expected pace in the second quarter, powered by a turnaround in the trade balance and renewed consumer strength, the Commerce Department reported Wednesday.Gross domestic product, a sum of goods and services activity across the sprawling U.S. economy, jumped 3% for the April through June period, according to figures adjusted for seasonality and inflation.That topped the Dow Jones estimate for 2.3% and helped reverse a decline of 0.5% for the first quarter that came largely due to a huge drop in imports, which subtract from the total, as well as weak consumer spending amid…
The Ford display is seen at the New York International Auto Show on April 16, 2025.Danielle DeVries | CNBCFord Motor is set to report its second-quarter earnings after the markets close Wednesday as investors watch for any changes to its full-year guidance, which the automaker suspended in May due to President Donald Trump’s auto tariffs.Ford at that time predicted a $2.5 billion impact from tariffs this year but said it would be able to offset $1 billion of that total through mitigation efforts.Trump’s 25% tariffs on imported vehicles and many auto parts remain in effect. While the Trump administration has…
