Get the latest updates on pre-market movers, S&P 500, Nasdaq Composite and Dow Jones Industrial Average futures. Like the Swiss Market Index (SMI), the Dow Jones is a price index. The shares included in it are weighted according to price; the index level represents the average of the shares included in it. The French luxury group reported better-than-expected sales on Friday, pushing its market cap above 300 billion euros for the first time. “The report should reduce the probability of near-term Fed cuts, though our more favorable outlook on inflation keeps us thinking a March cut is still more likely than not,” analysts at Morgan Stanley said in a note.
Canada, Mexico, China and Europe respond to Trump tariffs
At Bank of America, economists now believe the Fed is done cutting rates — and see a growing possibility that central bankers may, instead, need to consider raising rates. Additionally, President-elect Donald Trump’s proposed tariff policies, including reports of declaring a national economic emergency to impose widespread tariffs, has spooked investors, sending bond yields surging. The Russell 2000 index, which tracks smaller companies, fell 2.2%, highlighting concerns about the impact of “higher for longer” interest rates. Oil prices began Sunday trading higher after the U.S. slapped tariffs on goods from China, Canada and Mexico — all key trading partners. Traders appeared to search for safety in early Sunday night trading after the U.S. hit key trade partners with hefty tariffs on goods. The U.S. dollar advanced nearly 1% on Sunday night, continuing gains since President Donald Trump implemented tariffs over the weekend.
- Within the survey, the employment index leaped to 50.3, a gain of 4.9 points, while new orders and production also posted gains.
- The Dow dropped by 697 points, closing at 41,938, while the S&P 500 fell by 1.5% and the tech-heavy Nasdaq index was lower by 1.6%.
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- At Monday’s session lows, Canadian Imperial Bank of Commerce tumbled 8%, Bank of Nova Scotia suffered a 7.5% decline, Bank of Montreal dropped 6%, Toronto-Dominion Bank lost 5% and Royal Bank of Canada sank 4.5%.
- Tyson reported earnings of $1.14 per share, above the 90 cents per share estimated by analysts, according to FactSet.
- “The strong jobs report sent yields higher amid expectations for the Fed to pause its rate cutting cycle for a significant period of time,” Ross Mayfield, an investment strategist at Baird, wrote in a note Friday.
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Bitcoin falls, gold rises in risk-off move after U.S. tariffs
Mexico stocks as represented by the iShares MSCI Mexico ETF (EWW) popped 1.7% in midday trading, following losses earlier in the day, after Mexico President Claudia Sheinbaum said tariffs against the country would be delayed by one month. Major U.S. indexes are attempting a turnaround in midday trading after the earlier sell-off caused by concerns around the impact of U.S. tariffs. The major stock averages closed lower to end Monday’s trading session. Yields edged up this week after a hotter-than-expected inflation report. Some traders are now eyeing the 10-year bond hitting 5% in the coming weeks.
Where the major averages stand
Shares of Japan-listed Mazda Motor Corp traded more than 7.5% lower, while Kia Motor Corp fell nearly 7%. When asked on Sunday about the prospect of tariffs on goods from the U.K. And European Union, Trump told the BBC that both were “out of line” but that the EU was worse. He said a deal could be “worked out” with the U.K., a country with whom the U.S. has a more balanced trade relationship, but stood firm that tariffs on the EU “will definitely happen.” At Monday’s session lows, Canadian Imperial Bank of Commerce tumbled 8%, Bank of Nova Scotia suffered a 7.5% decline, Bank of Montreal dropped 6%, Toronto-Dominion Bank lost 5% and Royal Bank of Canada sank 4.5%. The widely followed investor said fixed income, foreign exchange and equity markets have all gone through sea changes during the past eight years.
Market seasonality: What to expect in February’s second half
Her remarks also came as financial markets weighed the impact of tariffs President https://www.forex-world.net/ Donald Trump is planning to levy against Canada and China, though he is delaying duties against Mexico. Tyson Foods — The poultry and beef giant gained 1.8% after the company’s fiscal first quarter results exceeded expectations. Tyson posted earnings of $1.14 per share, more than the 90 cents per share estimated by analysts polled by FactSet. Traders on Friday expect a 25% chance the Fed will cut rates in March, down from Thursday’s expectations of a 41% chance, according to the CME FedWatch Tool.
Tyson Foods — The maker of Jimmy Dean sausage rose nearly 4% after fiscal first-quarter results topped expectations. Tyson reported earnings of $1.14 per share, above the 90 cents per share estimated by analysts, according to FactSet. Sales rose about 2.3% year over year, led by growth in the beef category. The five largest Canadian banks, all of which are actively traded in the U.S., tumbled in early trading Monday in reaction to the U.S. imposing a 25% tariff on Canadian imports and Canada taking retailiatory action in response. Collins spoke less than a week after the Federal Open Market Committee, where she is a voting member this year, decided to hold rates steady.
- Trade wars and bond market disruptions loom over an otherwise buoyant stock market.
- Tyson Foods — The poultry and beef giant gained 1.8% after the company’s fiscal first quarter results exceeded expectations.
- The five largest Canadian banks, all of which are actively traded in the U.S., tumbled in early trading Monday in reaction to the U.S. imposing a 25% tariff on Canadian imports and Canada taking retailiatory action in response.
- Traders appeared to search for safety in early Sunday night trading after the U.S. hit key trade partners with hefty tariffs on goods.
- Analysts at Goldman Sachs now expect just two rate cuts from the central bank — in June and December — as opposed to the previously anticipated three, citing job growth that exceeded expectations.
- “That means, in my view, that it’s really appropriate for policy to be patient, careful, and there’s no urgency for making additional adjustments, especially given all of the uncertainty.”
Analysts at Goldman Sachs now expect just two rate cuts from the central bank — in June and December — as opposed to the previously anticipated three, citing job growth that exceeded expectations. US stocks closed mixed on Tuesday as investors assessed more tariff policy shifts from President Donald Trump and looked ahead to upcoming inflation data. Stocks tied to the price of the cryptocurrency also dropped in the premarket. Crypto services provider Coinbase slid more than 6%, while bitcoin proxy MicroStrategy tumbled more than 7%. Meanwhile, miners Riot Platforms and Mara Holdings fell nearly 7% and more than 7%, respectively. Stocks moving on tariffs — U.S. stocks reacted to the new 25% tariffs Trump levied Saturday on goods from Canada and Mexico, and 10% on China, effective at midnight Monday.
All sectors were trading in negative territory, with auto stocks sustaining heavy losses. Citigroup in early December said it completed the separation of Banamex from its institutional banking business in Mexico in preparation to list the retail bank, Reuters reported at the time. Factory activity in the U.S. expanded in January for the first time in more than two years, the Institute for Supply Manufacturing reported Monday. “We’re seeing continued growth near trend, an economy that’s much more closely aligned, and a labor market where I see the indicators as suggesting we’re near full employment, and that’s a Asian stock futures good place to be,” Collins said in a CNBC interview. “That means, in my view, that it’s really appropriate for policy to be patient, careful, and there’s no urgency for making additional adjustments, especially given all of the uncertainty.” Trump’s tariff plans could weigh on economic growth and cause inflation to jump, Wall Street economists warn.
Stocks close mixed as traders look ahead to inflation data
US stocks plunged Friday as investors digested a better-than-expected jobs report that soured expectations of future rate cuts from the Federal Reserve. The tone is cautious in the wait for Trump to reveal his plan for universal like-for-like tariffs, promised for announcement midweek. The president on Monday imposed 25% tariffs on all steel and umarkets review aluminum imports from March 12, according to executive orders.
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