According to Jinshi Data, Trade Nation analyst David Morrison said that the recent rebound in the U.S. stock market has failed to reflect the serious damage that tariffs have caused to global trade. The stock market rebound was boosted by expectations of interest rate cuts and strong earnings reports from Meta and Microsoft.
Traders were focused on expectations for a conciliatory stance from President Donald Trump on tariffs and the possibility of a rate cut from the Federal Reserve if the economy showed signs of pain.