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.
U.S. market breadth showed little change on Friday, with advancing and declining issues nearly balanced. Short-term momentum indicators remained moderate, while longer-term breadth metrics were stable. The data points to a market still searching for direction after a volatile start to August.
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.
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.
