The economist stated in his latest post that Trump has completely reversed 90 years of gradual trade liberalization, bringing America back to Smoot-Hawley tariff rates.
O’Leary highlighted the rebound in U.S. equities since President Trump announced his “Liberation Day” tariffs in April, according to a Business Insider report.
Tech-saturated Nasdaq 100 ETFs hit record highs despite U.S. tariff hike. Leading the pack were Invesco's QQQ, QQQM and QQQE. Strong performance driven by confident investors and stable big-cap techs.
Tech stocks staged a full rebound from last Friday's sell-off, with the Nasdaq 100 surging to 23,600 — just shy of the 23,700 all-time high set in late July, as the week’s strong sector earnings and broad gains among the Magnificent Seven fueled the rally.
According to a Bloomberg report, Musalem said that the central bank is not missing on its employment mandate, pointing to the labor market being close to full employment.
Analysts have revised their outlook on a rate cut, citing signs of weakness in the labor market and uncertainty surrounding President Donald Trump's latest nominee to the Fed.
After a strong breadth surge on August 4th, recent sessions show a loss of follow-through with mixed participation and falling advancing metrics. The data reflects a market in search of direction, with breadth reverting toward neutral levels and no clear leadership emerging. Momentum is cooling, though not breaking down decisively.
