This is how Liberians reacted to Trump's surprise at the President's English skills
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14 minutes ago
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Dow futures sink as Trump keeps pushing tariffs while White House suggests Powell's job could be at risk
After Wall Street previously downplayed risks from President Donald Trump's trade war, investors are starting to take his tariff threats more seriously. U.S. stock futures fell on Sunday as Trump continued his letter-writing blitz, warning the EU and Mexico over the weekend that they face 30% tariffs unless they reach trade deals by Aug. 1. U.S. markets pointed lower on Sunday night as the Trump administration showed no signs of backing off on tariffs or Federal Reserve Chairman Jerome Powell. After Wall Street previously downplayed risks from President Donald Trump's trade war, investors are starting to take his tariff threats more seriously. Trump continued his letter-writing blitz, warning the EU and Mexico on Saturday that they face 30% tariffs unless they reach trade deals by Aug. 1. The EU said Sunday it will delay its retaliatory tariffs that were due to take effect on Monday to give negotiations with the U.S. more breathing room. Trump officials have also claimed Powell has mismanaged the Fed and point to renovations of the central bank's headquarters, with National Economic Council Director Kevin Hassett even indicating that Powell's job could be at stake. When asked by ABC News if the renovation could be used as a reason to fire Powell, Hassett said, 'I think that whether the president decides to push down that road or not is going to depend a lot on the answers that we get to the questions that Russ Vought sent to the Fed.' He added that whether Trump has the authority to remove Powell is being explored, 'But certainly, if there's cause, he does.' Deutsche Bank said financial markets are underpricing the risk that he could be ousted. Futures tied to the Dow Jones Industrial Average dropped 214 points, or 0.48%. S&P 500 futures were down 0.50%, and Nasdaq futures fell 0.55%. The yield on the 10-year Treasury edged down 0.6 basis point to 4.417%. Gold was flat at $3,364 per ounce, while the U.S. dollar was up 0.2% against the euro and down 0.12% against the yen. U.S. oil prices rose 0.58% to $68.85 per barrel, and Brent crude climbed 0.16% to $70.79. Key economic indicators are due in the coming week. The consumer price index will come out on Tuesday and the producer price index is due on Wednesday, offering fresh clues as to how much tariffs are impacting inflation. That comes as tariffs have yet to trigger a spike in prices, though many companies are still drawing down inventories that were stockpiled prior to the duties going into effect. Also on Wednesday, the Federal Reserve's beige book survey of business and economic conditions will be issued, while retail sales will be available on Thursday, and housing starts come out on Friday. Those datasets will also provide insights into how consumers and companies are responding to tariffs. Several Fed policymakers will speak this coming week amid intense pressure from the White House to lower interest rates. Earnings seasons get going in earnest over the coming week, with Wall Street eager to find out how much of the tariff are impacting margins. The top U.S. banks will report second-quarter results, starting with JPMorgan Chase, Citigroup and Wells Fargo on Tuesday. In the tech sector, streaming leader Netflix and chip giant TSMC report on Thursday. Among industrials, results from Alcoa, GE Aerospace and 3M are also due. On Thursday, Delta Air Lines beat earnings and revenue forecasts while also reinstating its 2025 profit outlook because demand had stabilized. This story was originally featured on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
36 minutes ago
- Yahoo
Oil edges up, investors eye Trump statement on Russia
By Florence Tan SINGAPORE (Reuters) -Oil prices nudged higher on Monday, adding to gains of more than 2% from Friday, as investors eyed further U.S. sanctions on Russia that may affect global supplies, but a ramp-up in Saudi output and ongoing tariff uncertainty limited gains. Brent crude futures rose 8 cents to $70.44 a barrel by 0011 GMT, extending a 2.51% gain on Friday. U.S. West Texas Intermediate crude futures climbed to $68.50, up 5 cents, after settling 2.82% higher in the previous session. U.S. President Donald Trump said on Sunday that he will send Patriot air defence missiles to Ukraine. He is due to make a "major statement" on Russia on Monday. Trump has expressed frustration with Russian President Vladimir Putin due to the lack of progress in ending the war in Ukraine and Russia's intensifying bombardment of Ukrainian cities. In a bid to pressure Moscow into good-faith peace negotiations with Ukraine, a bipartisan U.S. bill that would hit Russia with sanctions gained momentum last week in Congress, but it still awaits support from Trump. European Union envoys are on the verge of agreeing an 18th package of sanctions against Russia that would include a lower price cap on Russian oil, four EU sources said after a Sunday meeting. Last week, Brent rose 3%, while WTI had a weekly gain of around 2.2%, after the International Energy Agency said the global oil market may be tighter than it appears, with demand supported by peak summer refinery runs to meet travel and power generation. However, ANZ analysts said price gains were limited by data showing Saudi Arabia lifted oil output above its quota under the Organization of the Petroleum Exporting Countries and allies' supply agreement. The IEA said that Saudi Arabia exceeded its oil output target for June by 430,000 barrels per day to reach 9.8 million bpd, compared with the kingdom's implied OPEC+ target of 9.37 million bpd. Saudi Arabia's energy ministry said on Friday the kingdom had been fully compliant with its voluntary OPEC+ output target, adding that Saudi marketed crude supply in June was 9.352 million bpd, in line with the agreed quota. Elsewhere, the release of China's preliminary commodity trade data later on Monday should highlight any ongoing signs of weaker demand, ANZ said in a note. Investors are also eyeing the outcome of U.S. tariff talks with key trading partners that could impact global economic growth and fuel demand. Sign in to access your portfolio
Yahoo
an hour ago
- Yahoo
Strategists weigh in on President Trump's shifting messaging on the Jeffrey Epstein files, enraging his MAGA base.
President Trump's base is erupting in turmoil over the administration's handling of the Jeffrey Epstein case files. Trump took to social media this weekend in an attempt to calm tensions and made a detailed plea to his base to leave the Epstein matter in the past. Don Calloway, host of The Caucus Room podcast and CEO of Pine Street Strategies, along with Republican strategist and MSNBC political analyst Susan Del Percio, and former Democratic congressman from Pennsylvania, Conor Lamb, wei
