US Stocks Cautionary as Trump Imposes Tariffs on EU and Mexico
The three major US indexes traded flat on Monday, as trade tensions escalated following President Trump's weekend announcement of 30% tariffs on imports from the EU and Mexico, which will take effect on August 1.
Leaders from both trading partners have pledged to continue negotiations with the US in hopes of reaching a deal that could reduce the tariff hikes. Meanwhile, investors are gearing up for tomorrow's key CPI report, which is expected to show rising inflation as companies begin to pass on higher import costs. Healthcare and energy were the worst-performing sectors, while communication services performed better.
In the corporate sector, megacap stocks were mixed, with Nvidia (-0.7%), Microsoft (-0.3%), Apple (-0.7%), and Broadcom (-0.3%) declining, while MetaTrader (0.4%) and Alphabet (0.8%) were in the green, while Amazon traded flat. Tesla also rose about 2.1% after Elon Musk hinted at a shareholder vote on Tesla's xAI investment.
The three major US indexes hovered around the flatline on Monday, as trade tensions escalated following President Trump's weekend announcement of 30% tariffs on imports from the European Union and Mexico, which will take effect on August 1. Leaders from both trading partners have pledged to continue negotiations with the US in hopes of reaching a deal that could mitigate the tariff hikes
Meanwhile, investors are gearing up for tomorrow's key CPI report, which is expected to show rising inflation as companies begin to pass on higher import costs. Healthcare and energy were the worst-performing sectors, while communication services performed better. On the corporate side, megacap stocks were mixed, with Nvidia (-0.7%), Microsoft (-0.3%), Apple (-0.7%), and Broadcom (-0.3%) down, while MetaTrader (0.4%) and Alphabet (0.8%) were in the green, and Amazon traded around the flatline. Additionally, Tesla rose about 2.1% after Elon Musk hinted at a shareholder vote on Tesla's xAI investment.
Source: (ayu-newsmaker)
