U.S. stocks end higher as investors brush off Trump’s tariffs on steel, aluminum
U.S. stocks ended higher on Monday, as investors continued...
U.S. stocks ended higher on Monday, as investors continued to assess President Donald Trump’s tariff plans and awaited economic data due later this week.
The Dow Jones Industrial Average went up 167.01 points or 0.4% to end at 44,470.41, according to the preliminary closing data from FactSet.
The S&P 500 rose 40.45 points or 0.7% to finish at 6,066.44.
The Nasdaq Composite increased 190.87 points or 1% to close at 19,714.27
🇨🇳 🇺🇸This week in tariffs: China’s retaliatory measures take effect.
Earlier today, China’s counter-tariffs went live,...
Earlier today, China’s counter-tariffs went live, adding 10% to 15% levies on US exports of natural gas, oil, and coal, as well as some automotive parts and farm equipment headed for China. President Trump described the tariffs that went into effect against China on February 4 as an “opening salvo,” and experts are monitoring the situation to see if the trade war between the two countries will escalate or if the fight will be called off after further negotiations. Consumer electronics, furniture, and appliances may soon get more expensive in the US due to the retaliatory tariffs, the AP reported. Fast fashion and home goods from Temu and Shein are safe for now, as the Trump administration is keeping the de minimis exemption in place.
Americans will learn if their new fears about rising inflation are justified...
Americans will learn if their new fears about rising inflation are justified when the January consumer price index is released on Wednesday. A survey by the University of Michigan showed that respondents expect the inflation rate to be 4.3% a year from now, and Reuters expects to see the CPI rise by 0.3% on a monthly basis. On the earnings front, McDonald’s will report today, although it will be too early to gauge the impact of the return of Uncle O’Grimacey, and Coca-Cola reports tomorrow.
Meta’s performance-based layoffs begin today: According...
Meta’s performance-based layoffs begin today: According to a memo obtained by Business Insider, US-based Meta employees will learn their fate in an e-mail that will also contain details of their severance package. CEO Mark Zuckerberg informed staff in January that the company would “move out low-performers,” which reportedly includes 3,600 workers. Meta has a market cap of $1.8 trillion, and shares are up more than 19% this year.
Consumer Financial Protection Bureau(CFPB) employees were ordered to essentially stop working by its new director, although only congressional action can officially close the bureau.
Elon Musk said last month that he’s not interested in purchasing TikTok in a video released on Saturday.
Three Israeli hostages were freed by Hamas on Saturday, and Israel released almost 200 Palestinian prisoners as part of the latest ceasefire exchanges.
President Trump said he and Vladimir Putin have spoken by phone about ending the war in Ukraine.
The Philadelphia Eagles won Super Bowl LIX last night,...
The Philadelphia Eagles won Super Bowl LIX last night, beating the Kansas City Chiefs 40-22 in a dominating defensive showing. The victory marks the second Super Bowl title in franchise history and avenges a 2022 championship loss to the Chiefs while ending Kansas City's bid to become the first team in NFL history to win three straight Super Bowls.
The Eagles swarmed Kansas City quarterback Patrick Mahomes all night, forcing four turnovers, including an interception return for a touchdown by defensive back Cooper DeJean. Mahomes was sacked six times, and the offense managed a meager 23 yards and a single first down in the first half. Kansas City didn't score until 34 seconds left in the third quarter, down 34-0.
Philadelphia quarterback Jalen Hurts was named Super Bowl MVP, throwing for 221 yards and two touchdowns while adding 72 yards and another score on the ground. See celebration photos here.
