US stocks are trading near their records as Wall Street takes Donald Trump’s latest talk about tariffs in stride, even if they could roil the global economy were they to take effect.
The S&P 500 rose 0.3 per cent in morning trading and was on track to squeak past its all-time high set a couple of weeks ago. The Dow Jones lost 270 points, or 0.6 per cent, from its own record set the day before, while the Nasdaq composite was 0.6 per cent higher.The Australian sharemarket is set to climb, with futures at 5.02am AEDT pointing to a rise of 41 points, or 0.5 per cent, at the open.
Trump has often praised the use of tariffs, but investors are weighing whether his latest threat will actually become policy or is just an opening point for negotiations. For now, the market seems to be taking it more as the latter. Trump’s tariff talk came almost immediately after US stocks rose Monday amid excitement about his pick for Treasury secretary, Scott Bessent. The hope was the hedge-fund manager could steer Trump away from policies that balloon the US government deficit, which is how much more it spends than it takes in through taxes and other revenue.
Best Buy fell 8 per cent after likewise falling short of analysts’ expectations. Dick’s Sporting Goods topped forecasts for the latest quarter thanks to a strong back-to-school season, but its stock lost an early gain to fall 2.4 per cent. In the bond market, Treasury yields rose following their big drop from a day before driven by relief following Trump’s pick for Treasury secretary.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX 200 LIVE: ASX to fall, Nvidia rally bolsters Wall StreetAustralian shares are set to open lower amid a renewed focus on Russia’s war against Ukraine. Bitcoin tops $US94,000. Follow updates here.
Read more »
ASX 200 LIVE: ASX to rise, techs pace Wall St gains, Fed cuts rates againAustralian shares are set to open higher, following US equities. ANZ cuts dividend as profits slide. Bitcoin eyes $US77,000. Follow updates here.
Read more »
ASX set to rise, Wall Street advances ahead of the Fed’s decision on interest ratesUS stocks are ticking higher, ahead of the Federal Reserve’s announcement coming in the afternoon about what it will do with interest rates.
Read more »
ASX set to rise, Wall Street advances ahead of the Fed’s decision on interest ratesUS stocks are ticking higher, ahead of the Federal Reserve’s announcement coming in the afternoon about what it will do with interest rates.
Read more »
ASX set to rise, Wall Street advances ahead of the Fed’s decision on interest ratesUS stocks are ticking higher, ahead of the Federal Reserve’s announcement coming in the afternoon about what it will do with interest rates.
Read more »
ASX set to rise, Wall Street rallies on election day as economy remains solidUS stocks bounce as voters head for the polls as data piles up showing the economy remains solid.
Read more »