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Wall Street Futures Ease as Strong GDP Growth Tempers Fed Cut Hopes

US stock futures dipped Tuesday morning as stronger-than-expected GDP growth raised doubts about near-term Federal Reserve rate cuts, sending the Dow, S&P 500, and Nasdaq futures slightly lower. Market Overview Dow Jones, S&P 500, and Nasdaq futures all slipped about 0.2% in premarket trading. The decline comes after three consecutive winning sessions for US equities, highlighting investor caution despite recent momentum. Gold and silver continued their rally, with both metals on pace for their best year in over four decades. Economic Data Impact The third-quarter GDP report showed the US economy grew at a 4.3% annualized rate, well above the 3.3% forecast. Strong consumer spending drove the surprise, but analysts warn that the government shutdown likely slowed growth in the fourth quarter. The data suggests economic resilience, but also reduces the likelihood of immediate Fed rate cuts, which had been priced in by markets. Investor Sentiment Traders are recalib...
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Trump Promises 25% Tariff on Products from Mexico and Canada

 

 

U.S. President-elect Donald Trump announced on Monday that he will sign an executive order imposing a 25% tariff on all products entering the United States from Mexico and Canada. This move is part of his broader strategy to address issues related to illegal immigration and drug trafficking, particularly fentanyl.

Trump made the announcement on Truth Social, stating that the tariffs will remain in place until Mexico and Canada take significant measures to curb the flow of drugs and illegal migrants across their borders. He emphasized that this action is necessary to protect American jobs and national security.

The proposed tariffs have sparked concerns among economists and trade experts, who warn that such measures could lead to higher prices for American consumers and potential retaliatory actions from Mexico and Canada. The tariffs are expected to impact a wide range of products, including automobiles, electronics, and agricultural goods.

Canadian and Mexican officials have yet to respond to Trump's announcement, but the move is likely to strain trade relations between the three countries. The tariffs could also complicate the implementation of the United States-Mexico-Canada Agreement (USMCA), which was designed to facilitate trade and economic cooperation in North America.

As the January 20th inauguration date approaches, businesses and consumers are bracing for the potential economic fallout from these tariffs.


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