Stock Market Today: Tariffs are back!
As we head into the long weekend, keep in mind those who paid the ultimate sacrifice for our freedom.
Happy Friday, and as our pal Sarge Guilfoyle over on TheStreet Pro says, have a nice Memorial Day.
I’ll let him remind us why we’ve got this long weekend and steal an excerpt from today’s Market Recon:
By all means, celebrate the day, and celebrate the weekend, but respectfully. The day is an observance of those who sacrificed everything so that we might not. Let us honor their memory, by accepting this bounty with both grace and class. It is not "Happy Memorial Day," for there is nothing "happy" about tragic loss. It is, however, "Have a nice Memorial Day," as that still allows for fun and family time while not disrespecting the how, the why and the sacrifice.
Yesterday was all about the Trump administration's “Big Beautiful Bill,” which could raise the deficit by as much as $5 trillion or as little as $3 trillion if tariffs raise the $2.2 trillion that the Tax Foundation thinks they could.
Today, those tariffs are back in the news as President Donald Trump threatens 50% tariffs on the EU starting June 1.
European markets dropped sharply on the news.
US stocks are slated to open lower, with S&P futures off 1.4% and Nasdaq futures off 1.8%. Here’s a look at global futures.
Apple isn’t immune, either. 
Of course, they say that a U.S.-made Apple (AAPL) iPhone would cost $3,500. Most will just switch to Samsung (SSNGY) or pay the 25% tariff. This is one product the costs of which Apple could easily pass on to consumers.
It's going to be another fun one! Stay safe out there.
