The Pituffik Space Base (formerly Thule Air Base) in Greenland Global markets faltered as fresh tariff threats from U.S. President Donald Trump reignited fears of a renewed trade clash between Washington and key European partners. The announcement targeted several EU nations and immediately sent shockwaves through equities, currencies, and commodities. European stocks opened sharply lower, with export‑heavy sectors—particularly autos, luxury goods, and industrials—bearing the brunt of the selloff. Major multinational firms saw billions wiped from their market value within hours as investors braced for potential retaliatory measures from Brussels. The proposed tariffs, set to begin at 10% and potentially rise to 25% later in the year, stem from escalating geopolitical disagreements that have st...
Wall Street Slightly Lower as Airlines Report Earnings Ahead of GDP Data
Wall Street leaned toward losses before the opening bell today as more earnings poured in while investors awaited the latest data on how the U.S. economy fared in the second quarter. Here are the key highlights:
- S&P 500 Futures: Fell 0.2% before the bell.
- Dow Jones Industrial Average Futures: Close to unchanged.
- Nasdaq: Down 0.3%.
Airlines in Focus:
- Southwest Airlines: Tumbled early after reporting a steep drop in second-quarter profit despite higher revenue. The airline also announced it was doing away with its 50-year-old practice of open seating, opting for assigned seats and premium seating options.
- American Airlines: Also reported earnings, and Wall Street predicts a release of earnings per share.
Additionally, Ford Motor Co. fell more than 13% in premarket trading after reporting a second-quarter net income decline due to rising warranty and recall costs.
Stay tuned for the latest GDP report, which will provide insights into the overall economic performance in Q2. Investors are closely monitoring these developments as market volatility continues.
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