Stock Market Today: Tariffs are On Again, Off Again
Tariff talk out of Washington is leading to dramatic market volatility. This week, it's off again.
Good morning! I hope you're ready for an action-packed 4-day week.
Why action-packed? Well, that's just the kind of market that we're in. In her column today, TheStreet Pro's Helene Meisler says that we're in a trader's market. Over the last month, stocks have rallied to the point of becoming intermediate-term overbought.
That doesn't mean we'll drop like a rock. Rather, Helene believes we're in for volatility.
Speaking of volatility, the President's on-again, off-again tariffs are sparking volatility. On Friday, he threatened Europe with 50% tariffs due to be implemented on June 1st. On Sunday, following a call with the EU head Ursula von der Leyen, he said, that he'd wait until July 9th. Will he or won't he remains the question.
On that news, futures jumped. Here's a chart of the S&P 500 Futures and you can clearly see the impact of the President's on again, off again tariff talk.
Stock futures remain higher today, before the market open, with the S&P 500 looking up 1.3%.
Interesting stocks to watch this morning include Intel (INTC) and Nvidia (NVDA) , which are up before market open by 2%, and Pdd Holdings (PDD) , which is down by 18%.
PDD runs the Chinese e-commerce company Temu and announced earnings this morning that missed analyst revenue estimates.
In other markets, bond futures are up, driving yields lower. The 10-year US Treasury is priced to yield 4.475%. The US Dollar Index is up to 99.21, and Gold is off 69 to 3296.
