archiveLiberation Day

President Donald Trump’s reveal of sweeping import tariffs further darkened the outlook for the global economy and left many questions unanswered. But amid all the policy fog, oil and gas traders can point to a few bright spots.At an event in the White House Rose Garden, Trump announced tariffs on imports from many major trading partners, including a 20% fee on the European Union, 24% on Japan, 27% on India, 10% on Britain and 34% on China. He also set a baseline 10% tariff on all imports.The move intensified a...

President Trump's shocking tariff announcement on Wednesday has markets reeling as investors, economists, and the public try to make sense of how these actions will weigh on the US and global economies in the months ahead. In a note to clients on Thursday, economists at Wells Fargo led by Brendan McKenna wrote, "Liberation Day will also be a strong test of our deglobalization and fragmentation view." The firm added (emphasis added): While Trump's new tariff program announced Wednesday may well be the start of what Wells Fargo calls an "escalate...

As markets sold off late Wednesday, President Trump touted the domestic investments from Big Tech as companies like Apple (AAPL), Nvidia (NVDA), and others pledge billions to expand their respective footprints in the United States. "Apple is going to spend $500 billion. They never spent money like that here," Trump said, referencing the company's plans to invest in its US operations over the next four years, which will include plans to build a new manufacturing factory, double its advanced manufacturing fund, and hire 20,000 people. Apple (AAPL) shares still fell...

Data out Tuesday showed activity in the manufacturing sector slipped into contraction and costs continued to surge as suppliers weighed the impact of President Trump's tariff policy. The Institute for Supply Management's manufacturing PMI registered a reading of 49.0 in March, down from February's 50.3 reading and below the 49.5 economists polled by Bloomberg had expected. Readings above 50 for this index indicate an expansion in activity, while readings below 50 indicate a contraction. The prices paid index surged to 69.4, up from 62.4 the month prior and the highest...