President Donald Trump’s tariffs continue to remain an overhang, with the market eyeing the Aug. 7 timeline when the revised tariff rates announced last week would take effect.
Each trading day features hundreds of headlines and press releases on Benzinga Pro, a source for traders to see the latest news on the overall market and individual tickers.
Amazon’s shares were down more than 8% in Friday’s midday session after the Amazon Web Services cloud unit’s second-quarter performance and third-quarter guidance disappointed Wall Street.
Deputy chairman of Russia’s Security Council, Dmitry Medvedev, made remarks Trump described as “foolish and inflammatory,” prompting the move as a precaution.
On Thursday, stocks succumbed to concerns about tariffs and macroeconomic worries, which offset the optimism generated by solid quarterly results from Meta and Microsoft.
The new tariffs were imposed by Trump in an executive order on Thursday, which said that Canada “failed to cooperate” with the U.S. to curb the flow of illicit drugs.
The president stated that some trading partners have agreed to, or are on the verge of agreeing to, meaningful trade and security commitments with the U.S., thereby signaling their sincere intention to address trade barriers permanently
According to the S&P Global ASEAN Manufacturing Purchasing Manager’s Index report, confidence for the year-ahead output slumped to the lowest level in five years.
