Markets were turning to another sales on Sunday night, after stunning job data delivered a rough wake of the Wall Street Bulls.
The future is associated with the industrial average Dow Onesons dropped by 47 points, or 0.11%. The future of the S&P 500 decreased by 0.17%, and the future of the Nasdaq decreased by 0.23%.
The yield of the 10-year-old finance ministry was flat to 4,216% after Friday’s drop on higher expectations to reduce the Fed rate. The US dollar was stable compared to the euro and a 0.09% reduction to the yen.
Gold increased by 0.44% to $ 3,414.10 for an ounce. US oil prices fell 0.67% to $ 66.88 a barrel, and crude Brent fell 0.72% to $ 69.17, as OPEC+ announced another growth in production.
After investors were amazed at how elastic the economy over President Donald Trump’s tariffs appeared, it turns out that the conditions were in fact much weaker, with Gains to work in the last three months on average of 35,000.
Combined with special indicators showing deterioration of consumption, housing and production, the overall image is one of the economy “of the ruin of a recession“According to Moody’s Moody’s. This followed a similar warning from Economists in JPMorgan.
Others had previously sounded the alarm on the glittering red flags. But in the days leading to the job report, some top commentators were still trying to explain why Doomsday’s predictions about Trump’s “Liberation Day” tariffs have yet to materialize.
On Thursday, former White House Economic Adviser Jason Furman attributed partly “Tarification Syndrome”. And last week, Rockefeller’s international president Rucir Sharma said the negative effects of tariffs are probably are compensated by other factors Like AI’s spending, lower inflation pressure from the housing, cars and energy is sprayed.
By now adapted Wall Street to economic risks like Trump’s trade war, tariffs that take effect on Thursday could gain greater control. It includes stricter duties for trading partners such as Canada and Switzerland.
Meanwhile, the calendar of economic reports takes place next week after several major last week. On Tuesday, the trade deficit for June comes out, providing an update on how much tariffs affect imports. On Thursday, second quarter productivity is expected.
The earnings season has peaked, but several top names will issue quarterly reports. Palantir Technologies reports on Monday after securing a $ 10 billion software and data deal from the army.
Chip giant Advanced micro devices Reporte reported on Tuesday – potentially offering hints on the results of Nvidia, which do not come out by August 27.
Other companies to announce earnings in the coming week include Caterpillar, Disneyand McDonald’s. It will also be busy time for pharmaceutical and biotechnical giants like Amgen, PfizerAnd Eli Lily Because Trump weighs steep tariffs for drugs.
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