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Last week saw some notable developments on the US trade front, as new data and diplomatic discussions gave the market plenty to digest.
As a month filled with uncertainty and speculation ended, investors were emboldened last week by several growth indicators.
Equities finished the week sharply higher led by the Magnificent Seven which were up over 8%.
US stocks rallied on Monday following indications from US President Trump that tariffs may be more targeted than anticipated. However, just when there were hopes that the US market was beginning to regain its old moxie, weak consumer confidence readings released on Tuesday hampered the mood.
Another week and another tariff announcement. On Monday, Trump said he would be reinstating the 25% levy on steel imports from his first term and increasing tariffs on aluminium imports to 25%, writes Ian Slattery.
Major US equity markets declined last week as last weekend’s tariff announcements continued to be digested, writes Ian Slattery.
Jerome Powell might have sighed with relief as the spotlight was taken away from the Fed’s announcement last week, writes Ian Slattery.
The week commenced with Donald Trump’s inauguration on Monday, and markets seemed relieved that new tariffs were not enacted on the president’s first day in office, writes Ian Slattery.
Much of the business news last week centred around TikTok, which shut down in the US on Sunday, before announcing it was “in the process of restoring service” later the same day, writes Ian Slattery.
US equities took a tumble on Friday after December’s monthly jobs report surpassed expectations. 256,000 jobs were added in the month, and the unemployment rate dropped from 4.2% to 4.1%, writes Ian Slattery.