Markets swing upward as the White House trade contracts, car rates become more generous
Markets continued to look at the order on Tuesday as Trump administration officials tried to calm uneasy investors. The latest attempt to reverse recent volatility was Commerce Secretary Howard Luttonick. It appeared CNBC suggests the possibility of a trade contract.
“I made a transaction, it’s done, it’s done, but we’ll have to wait for the Prime Minister and Congress to grant approval, which is expected soon,” Lutnick said in support of the stock, denying that he was referring to Canada, the UK or any other country.
The S&P 500 rose 0.58% the next day Inactive performance On Monday, there was a slight improvement over the recent dip.
The uncertainty continues
Despite market rises on Tuesday, Trump officially closed the first 100 days of his second term The worst start It is the most rapid decline for the president of almost a century, and since Gerald Ford took over to Richard Nixon 50 years ago.
Lutonic’s Tuesday’s appearance came as part of what appears to be a wider walkback by the administration, but Trump’s aggressive and stubborn tariffs have surprised investors. From January 20th to late April, the S&P fell almost 8%. This is a shocking performance considering the excitement of investors about Trump’s return by his stubborn supporters such as Elon Musk. Tesla teeth still Although the December peak is 50% off, Musk’s recent setback from his government ministry’s efficiency has resulted in a free fall in stocks.
Despite Trump officials working to restore confidence in the market, large companies continue to express their caution and caution about the impact of tariffs on everyday prices. Many of Tuesday’s news cycles are Amazon We were considering displaying customs fees to consumers of all products. It was rejected Trump after the White House called the plan “hostile and political” Called Founder Jeff Bezos. Amazon’s stock fell 0.17% that day.
Still, even more tailwinds could boost future market performance. Late Tuesday afternoon, Wall Street Journal Trump reported that I’m hoping for To reduce car rates by preventing foreign-made cars from stacking up on other tariffs and reducing taxes on certain foreign parts used in the US to manufacture cars.
If implemented, the move represents a reprieve for automakers and continues Trump’s policies for specific industries, as previously done for mobile phones, computers and chips. apple It is a single beneficiary and has seen stocks increase by nearly 3% over the past week. However, Ford’s shares have won more than 1% in the past day. General Motors Stocks fell about 0.6% on Tuesday.
Other countries are sought stability as the Trump administration’s decision continues to whip investors. The Canadian Liberal Party on Monday insisted on a political comeback in which former central banker Mark Carney jumped into the prime minister’s office after it was thought his party would lose due to the unpopularity of his predecessor, Justin Trudeau. Voters’ support for Carney, who criticized Trump’s harsh rhetoric towards Canada, was a sharp responsibility to the US government’s protectionist policies.
This story was originally introduced Fortune.com