📊 3 Key Market Updates to Know Before You Trade Today
Before you hit the buy or sell button, here are three critical updates shaking up the markets this morning:
1. 🇨🇦 Canada Tariff Hike: Trump Slaps 35% Duties
President Trump has imposed 35% tariffs on Canadian goods, citing retaliation for Canada's March tariffs and other trade barriers. This move escalates tensions with a key trading partner and could impact cross-border industries, particularly auto and agriculture sectors.
2. 🎯 Powell in the Crosshairs: Budget Chief Alleges $700M Mismanagement
The White House budget director accused Fed Chair Jerome Powell of gross overspending on a $700 million Fed HQ renovation — and failing to deliver promised upgrades. This adds fuel to speculation about Trump’s intentions for Powell’s role moving forward.
3. 📈 Markets Still Climbing: S&P 500 & Nasdaq Set Records
S&P 500 hit 6,280.46 (+0.27%) and the Nasdaq closed at new highs as well. Mining and industrial stocks are on fire, driven by Trump’s newly announced 50% copper tariff starting August 1. Europe also rallied, with Stoxx 600 gaining 0.54%.
🔍 Takeaway:
Markets are bullish but politically charged. Tariff moves are reshaping trade narratives, and Fed leadership is under scrutiny. Watch industrials, mining, and USD-sensitive sectors closely.
Ready to trade? Stay sharp, stay updated.