White House
Markets Reverse Gains as Tariff Concerns Weigh on Sentiment | Daily Market Analysis
Key events: USA - Core PCE Price Index (MoM) (Dec) USA - Core PCE Price Index (YoY) (Dec) USA - Chicago PMI (Jan) The S&P 500 reversed earlier gains to end lower on Friday in a sharp downturn, following confirmation from the White House that tariffs on Mexico, Canada, and China would take effect on Saturday. The Dow Jones Industrial Average dropped 337 points, or 0.8%, while the S&P 500 declined 0.5%. The Nasdaq Composite, which had been up over 1% intraday, finished down 0.3%.
What's Moving the Markets This Week? | Daily Market Analysis
Key events: UK – Construction PMI (Feb) Canada – Ivey PMI (Feb) Despite the Fed's best efforts, the labor market remains overheated as initial jobless claims fell by 2,000 (n/a) to 190,000 and U.S. service sector business activity remains elevated. In the context of fighting inflation, this threatens to lead to a tightening of monetary policy and, consequently, a worsening of economic conditions.
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