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Global Trade in Flux: Nations Scramble to Negotiate Trump's Tariffs

The Trump administration has revealed that over 50 countries have approached the White House to discuss the sweeping tariffs announced earlier this month. These tariffs, set to take effect on Wednesday, have sparked global economic uncertainty and fears of a recession.  Treasury Secretary Scott Bessent emphasized that resolving unfair trade practices would require time and credible offers from affected nations. Meanwhile, President Trump remains steadfast, urging Americans to "hang tough" as he pursues his vision of economic realignment.  Countries like Vietnam and Israel are actively seeking negotiations, with Vietnam proposing to eliminate tariffs on U.S. goods in exchange for concessions. Allies and adversaries alike are grappling with the implications of these tariffs, which have disrupted financial markets and strained international relations.  The administration's move has drawn mixed reactions, with some praising the bold stance on trade and others warning of infla...
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Wall Street Aims to Extend Winning Streak Ahead of Fed Chair Powell’s Speech

 


Wall Street inched higher early Tuesday as markets sought to extend their recent winning streak. Investors are closely watching Federal Reserve Chair Jerome Powell’s highly-anticipated speech later this week. Here are the key points:

  1. Market Movement:

    • Futures for the S&P 500 were up 0.1%, while futures for the Dow Jones Industrial Average remained relatively unchanged.
    • Hawaiian Holdings saw an 11.3% jump in premarket trading after its merger with Alaska Air cleared a major regulatory hurdle.
    • Lowe’s, however, experienced a modest decline after beating profit expectations but missing sales targets.

  2. Fed Chair Powell’s Speech:

    • The setting for Powell’s speech in Jackson Hole, Wyoming, has historically been home to significant policy announcements by the Fed.
    • Expectations are not overly high this time, as most anticipate the Fed will begin cutting interest rates next month—the first such cut since early 2022.
    • The big question is whether the economy needs the Federal Reserve to remove the brakes or apply deeper cuts for acceleration.

  3. Bond Market:

    • The yield on the 10-year Treasury held steady at 3.87%, while the 2-year ticked back to 4.05%.

  4. Global Markets:

    • Global markets mostly rose after Wall Street’s roller coaster summer, with the S&P 500 nearing its all-time high.


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