WEEKLY MARKET REPORT 🗓
🟧Monday: ISM Mfg. PMI; Fed Chair Powell Speech
🟨Tuesday: JOLTs, Vehicle Sales; 2 Fed Speakers; $CRWD $DG $NIO Earnings
🟧Wednesday: ADP Payrolls, ISM Services PMI; 2 Fed Speakers; $DLTR $FIVE $MDB Earnings
🟧Thursday: Jobless Claims; 2 Fed Speakers; $AVGO $DOCU $LULU Earnings
🟥 Friday: Jobs Report
Asian shares retreated along with US stock-index futures as trade tensions worsened, prompting investors to hold back from taking risky bets. Gold rose on demand for haven assets.
Contracts for the S&P 500 slipped 0.6% while that for European stocks fell 0.5%. China and the US accused each other of violating their trade agreement last month
A gauge of the dollar dipped 0.2% and the yen strengthened. Crude oil climbed 2.8% as geopolitical and trade risk increased, and as OPEC+ hiked production less than some had feared. Gold gained 1%.
Tariff headlines are once again dominating markets after a legal back-and-forth last week on the status of Trump’s century-high levies, which investors say may push the US into a recession.
Amid the uncertainty about US trade policy and negotiations with countries including China, market participants are also monitoring a sweeping tax bill that threatens to boost the US deficit.
