Stocks reach record highs as Trump trade fears ease on Wall Street
The S&P 500 index was up 0.5 percent Friday morning, rising roughly 32.6 points and exceeding the all-time high of 6,147 points set in February. The Nasdaq composite was up 0.3 percent, and the Dow Jones Industrial Average was up 0.4 percent.
After falling sharply in March and April as Trump rolled out his trade agenda, stocks have rallied back to their previous highs after the president dramatically reduced the scale and scope of his import taxes.
Trump shook markets in April by announcing he would impose roughly $600 billion in tariffs on nearly every U.S. trading partners. His new country-specific tariffs followed import taxes he levied on Canada, Mexico and China earlier in his term, along with additional taxes on foreign metals, autos and auto parts.
Despite initially brushing off the market's reaction, Trump adjusted his trade agenda two weeks later by reducing and delaying his April tariffs on all other countries, but ramping them up to levels as high as 145 percent on China.
The U.S. and China have since struck several smaller agreements to reduce tariffs on each other's goods and open up Chinese exports of rare metals to the states.
The Chinese Ministry of Commerce confirmed further details of the deal on Friday.
'China will, in accordance with the law, review and approve eligible export applications for controlled items. In turn, the United States will lift a series of restrictive measures it had imposed on China,' a Ministry spokesperson said in a statement, which did not go into detail.
Estimates for the current overall U.S. tariff rate range between 10 percent and 15 percent now, down from 25 percent when China and the U.S. had triple-digit tariffs in place on each other. The Yale Budget Lab puts the overall number at 15.8 percent now.
Major new tariffs include a 10 percent general tariff, 30 percent tariffs on China, 25 percent tariffs on autos and auto parts, 25 percent tariffs on steel and aluminum, and 25 percent tariffs on select goods from Canada and Mexico.
The Congressional Budget Office estimated earlier in June that the new tariffs would reduce primary deficits by $2.5 trillion. Accounting for macroeconomic effects, the deficit reduction increases to $2.8 trillion.
Also potentially boosting optimism on Wall Street was the downward revision to first-quarter gross domestic product that came this week, which could potentially increase the chances of a rate cut from the Federal Reserve.
However, a hotter-than-expected inflation print on Friday likely works against that option. Inflation rose 2.3 percent in May on an annual basis, up from just 2.1 percent in April, the Commerce Department said Friday.
Removing the more volatile categories of food and energy, core prices increased 2.7 percent from a year earlier, a rise from 2.6 percent in April.
'Today's report is not good for economic activity and inflation and will continue to keep the Federal Reserve on the sidelines for now,' Raymond James economist Eugenio Aleman said in a commentary.
Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Miami Herald
15 minutes ago
- Miami Herald
Donald Trump's Approval Rating Flips With Baby Boomers
Donald Trump's support among baby boomers has rebounded sharply, giving the president a boost with one of his most dependable voting blocs as he heads into the 2026 midterm cycle. In the latest Quantus Insights poll, Trump's approval rating with baby boomers has flipped from being even to solidly positive. Last month, his numbers among over-65s stood at 49 percent approve and 49 percent disapprove. This month's results, however, show a significant turnaround. Trump now sits at 56 percent approve and 41 percent disapprove, a net positive of +15 points and a 15-point swing in his favor in just a few weeks. The reversal underscores Trump's enduring appeal with older conservatives, even as his approval ratings have dropped among younger Americans and some other key groups. Baby boomers—who were critical to Trump's win in 2024, when 51 percent of the age group voted for him—remain a vital pillar of his political base. While the Quantus Insights poll showed a boost in boomer support for the president, other polls show that his approval rating among this demographic has remained remarkably consistent in recent months. A YouGov/Economist poll found Trump's rating among over-65s holding steady at 45 percent approve/53 percent disapprove in June—barely changed from May's numbers of 45/51. An ActiVote poll shows a similar pattern, with Trump's approval slipping only slightly from 48 percent approve/48 percent disapprove in May to 42/52 in June among over-65s. Marist polling, too, shows almost no movement among boomers, with 41 percent approve/58 percent disapprove in June for over-60s compared with 40/57 in April. A Fox News poll recorded a modest shift, with Trump's rating among over-65s at 46/53 in June, up just a few points from 43/57 in April. Trump's standing with boomers could collapse in the coming months after Congress passed Trump's "Big Beautiful Bill" on Thursday. It will cut roughly $1.1 trillion in health care spending and result in 11.8 million people losing Medicaid health insurance over the next decade, according to new estimates from the nonpartisan Congressional Budget Office. In 2021, approximately 9.4 million individuals aged 65 and older were enrolled in Medicaid, according to the Brookings Institution, including many who are "dual eligibles," meaning they are enrolled in both Medicare and Medicaid. This makes Medicaid the single largest payer for long-term services and supports in the country. In fact, more than 60 percent of nursing home residents in the U.S. depend on Medicaid to help pay for their care. Recent polls have shown that a majority of Americans say they oppose Trump's One Big Beautiful Bill Act. A Quinnipiac poll conducted June 22-24 found that 55 percent of Americans oppose the bill. A Fox News survey from June 13-16 put opposition even higher, at 59 percent. Meanwhile, a KFF poll from June 4-8 showed the strongest pushback, with 64 percent saying they reject the legislation. Even polls with relatively lower opposition still show more Americans against the bill than in favor. A Washington Post-Ipsos poll, conducted June 6–10, found 42 percent opposed but only 23 percent support it. While a Pew Research Center survey conducted June 2-8 showed 49 percent disapproval and 29 percent in favor. All five surveys included samples of at least 950 U.S. adults, indicating broad national sentiment. In the Quinnipiac poll, 47 percent of registered voters said they support the Medicaid work provision in the bill and 46 percent said they oppose them, effectively a dead heat. Meanwhile, the KFF poll found that 79 percent of Americans think it is the government's responsibility "to provide health insurance coverage to low-income Americans who cannot afford it." During his campaign, Trump vowed: "We're not cutting Medicaid, we're not cutting Medicare, and we're not cutting Social Security." Trump's approval rating among baby boomers is likely to fluctuate throughout his second term. Related Articles Steve Bannon Attacks Elon Musk Over New Party: 'You're Not American'Trump 'Heartbroken' Over Texas Flooding as Federal Aid PledgedIran's Supreme Leader Makes First Public Appearance Since WarWeather Service Staffing 'Clearly a Concern' Ahead of Deadly Texas Floods 2025 NEWSWEEK DIGITAL LLC.
Yahoo
19 minutes ago
- Yahoo
Individual investors who hold 42% of Benz Mining Corp. (CVE:BZ) gained 51%, institutions profited as well
Benz Mining's significant individual investors ownership suggests that the key decisions are influenced by shareholders from the larger public 51% of the business is held by the top 11 shareholders Institutional ownership in Benz Mining is 25% Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. A look at the shareholders of Benz Mining Corp. (CVE:BZ) can tell us which group is most powerful. And the group that holds the biggest piece of the pie are individual investors with 42% ownership. In other words, the group stands to gain the most (or lose the most) from their investment into the company. While individual investors were the group that benefitted the most from last week's CA$48m market cap gain, institutions too had a 25% share in those profits. Let's take a closer look to see what the different types of shareholders can tell us about Benz Mining. See our latest analysis for Benz Mining Institutions typically measure themselves against a benchmark when reporting to their own investors, so they often become more enthusiastic about a stock once it's included in a major index. We would expect most companies to have some institutions on the register, especially if they are growing. As you can see, institutional investors have a fair amount of stake in Benz Mining. This implies the analysts working for those institutions have looked at the stock and they like it. But just like anyone else, they could be wrong. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. When such a trade goes wrong, multiple parties may compete to sell stock fast. This risk is higher in a company without a history of growth. You can see Benz Mining's historic earnings and revenue below, but keep in mind there's always more to the story. Benz Mining is not owned by hedge funds. Looking at our data, we can see that the largest shareholder is Spartan Resources Limited with 13% of shares outstanding. For context, the second largest shareholder holds about 11% of the shares outstanding, followed by an ownership of 9.4% by the third-largest shareholder. Looking at the shareholder registry, we can see that 51% of the ownership is controlled by the top 11 shareholders, meaning that no single shareholder has a majority interest in the ownership. Researching institutional ownership is a good way to gauge and filter a stock's expected performance. The same can be achieved by studying analyst sentiments. We're not picking up on any analyst coverage of the stock at the moment, so the company is unlikely to be widely held. While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders. Management ultimately answers to the board. However, it is not uncommon for managers to be executive board members, especially if they are a founder or the CEO. Most consider insider ownership a positive because it can indicate the board is well aligned with other shareholders. However, on some occasions too much power is concentrated within this group. Our most recent data indicates that insiders own some shares in Benz Mining Corp.. In their own names, insiders own CA$14m worth of stock in the CA$142m company. It is good to see some investment by insiders, but we usually like to see higher insider holdings. It might be worth checking if those insiders have been buying. The general public-- including retail investors -- own 42% stake in the company, and hence can't easily be ignored. While this group can't necessarily call the shots, it can certainly have a real influence on how the company is run. We can see that Private Companies own 10%, of the shares on issue. It might be worth looking deeper into this. If related parties, such as insiders, have an interest in one of these private companies, that should be disclosed in the annual report. Private companies may also have a strategic interest in the company. We can see that public companies hold 13% of the Benz Mining shares on issue. It's hard to say for sure but this suggests they have entwined business interests. This might be a strategic stake, so it's worth watching this space for changes in ownership. I find it very interesting to look at who exactly owns a company. But to truly gain insight, we need to consider other information, too. Take risks for example - Benz Mining has 3 warning signs (and 2 which make us uncomfortable) we think you should know about. Of course this may not be the best stock to buy. Therefore, you may wish to see our free collection of interesting prospects boasting favorable financials. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. This may not be consistent with full year annual report figures. — Investing narratives with Fair Values Suncorp's Next Chapter: Insurance-Only and Ready to Grow By Robbo – Community Contributor Fair Value Estimated: A$22.83 · 0.1% Overvalued Thyssenkrupp Nucera Will Achieve Double-Digit Profits by 2030 Boosted by Hydrogen Growth By Chris1 – Community Contributor Fair Value Estimated: €14.40 · 0.3% Overvalued Tesla's Nvidia Moment – The AI & Robotics Inflection Point By BlackGoat – Community Contributor Fair Value Estimated: $359.72 · 0.1% Overvalued View more featured narratives — Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. 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
29 minutes ago
- Yahoo
President Trump Had 1-Word Response For Danica Patrick Question
President Trump Had 1-Word Response For Danica Patrick Question originally appeared on The Spun. If you're not familiar with Danica Patrick's social media activity, she often voices her support for President Donald Trump. Leading up to the 2024 presidential election, Patrick took a handful of jabs at former Vice President Kamala Harris. She even made a passionate speech about Trump during a rally in Lititz, Pennsylvania. After Trump won the election in November, the former NASCAR driver posted this message on Instagram: "The work is not done until we can wear or fly an American flag, say we want to make America great again, and say I LOVE THIS COUNTRY….. and have that make us American, not Republican." Last weekend, Trump received a lot of criticism from the public for successfully bombing Iran. He wrote on Truth Social that a "full payload of BOMBS" were dropped on three nuclear sites. Patrick applauded that move from Trump. She said, "Thank you to all that keep America safe and strong." However, she still had a question for the 47th president of the United States. On Friday night, Patrick revealed that she spent time with Trump at a rally in Michigan. "I asked President Trump on the flight home from the last rally in Michigan... what is the most important quality of being in office was," Patrick wrote on Instagram. Trump had a one-word response to that question from Patrick: courage. While plenty of people have ripped Trump in the past, a former Bill Clinton National Security Council staffer applauded his decision to bomb Iran. He referred to it as a courageous action. "I am not a fan of many of Donald Trump's actions, but I will speak openly and honestly when he takes bold steps defending America's interests, as he did tonight," Jamie Metzl said. Suffice to say, courage is important to have when you're running a Trump Had 1-Word Response For Danica Patrick Question first appeared on The Spun on Jun 28, 2025 This story was originally reported by The Spun on Jun 28, 2025, where it first appeared.
