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The recent market decline has prompted another Wall Street strategist to revise its S&P 500 forecast lower for 2025. On Friday, UBS Global Wealth Management head of US equities David Lefkowitz predicted earnings would come in weaker than previously expected, prompting a trim to the firm's year-end price target to 6,400 from 6,600 on the broad-based index. “We still believe that US stocks can recover and post gains for the year. However, recent economic weakness and our expectation that tariffs will be at the higher end of our base case...

US stocks opened lower on Friday as investors assessed the latest inflation data and anticipated reciprocal tariffs expected to be announced next week. The Dow Jones Industrial Average (DJI) fell 0.2%, while the benchmark S&P 500 (GSPC) dropped 0.3%. The tech-heavy Nasdaq Composite (IXIC) decreased 0.5%. The latest Personal Consumption Expenditures index showed prices increased more than expected last month, rising 0.4% month over month and 2.8% year over year, continuing a stubborn plateau on the path to the Fed's target. Investors also digested President Trump's auto tariff announcement this...

US stock futures wavered as Wall Street continues to grapple with President Trump's escalating trade war. Futures attached to the Dow Jones Industrial Average (YM=F), the benchmark S&P 500 (ES=F), and the tech-heavy Nasdaq Composite (NQ=F) dipped 0.1%. CBOT - Delayed Quote • USD As of 8:02:11 PM EDT. Market Open. YM=F ES=F NQ=F Stocks have had a rollercoaster of a week, starting off on a high on hopes that Trump would temper his tariff plans and then abruptly diving on Wednesday upon news of new duties on auto imports....

Gold (GC=F) hit new highs on Thursday as concerns of an escalating trade war heightened. Futures touched their 17th record of the year just north of $3,060 after President Trump's auto tariff announcement on Wednesday stoked further fears of a trade war. A move lower in the US dollar (DX-Y.NYB) index also helped drive prices higher. Earlier this week, analysts at Bank of America raised their price target on gold to $3,500 per ounce over the coming 18 months if investments increase by 10% due to more buying from China,...

Gold (GC=F) hit new highs on Thursday as concerns of an escalating trade war heightened. Futures touched their 17th record of the year just north of $3,060 after President Trump's auto tariff announcement on Wednesday stoked further fears of a trade war. A move lower in the US dollar (DX-Y.NYB) index also helped drive prices higher. Earlier this week, analysts at Bank of America raised their price target on gold to $3,500 per ounce over the coming 18 months if investments increase by 10% due to more buying from China,...

Gold (GC=F) hit new highs on Thursday as concerns of an escalating trade war heightened. Futures touched their 17th record of the year just north of $3,060 after President Trump's auto tariff announcement on Wednesday stoked further fears of a trade war. A move lower in the US dollar (DX-Y.NYB) index also helped drive prices higher. Earlier this week, analysts at Bank of America raised their price target on gold to $3,500 per ounce over the coming 18 months if investments increase by 10% due to more buying from China,...

US stock futures dropped after President Trump signed an executive order imposing 25% tariffs on car imports. Futures attached to the Dow Jones Industrial Average (YM=F) and the benchmark S&P 500 (ES=F) fell 0.3%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) tumbled 0.4%. CBOT - Delayed Quote • USD As of 9:25:19 PM EDT. Market Open. YM=F ES=F NQ=F Trump announced the new duties from the Oval Office on Wednesday, saying they would "spur growth like you've never seen before." The tariffs on foreign cars are set to begin...

US stock futures rose after President Trump signed an executive order imposing 25% tariffs on car imports. Futures for the Dow Jones Industrial Average went up 0.3% (YM=F) and futures tied to the benchmark S&P 500 (ES=F) rose 0.2%. Futures attached to the tech-heavy Nasdaq Composite (NQ=F) inched up 0.1%. CBOT - Delayed Quote • USD As of 3:32:49 AM EDT. Market Open. YM=F ES=F NQ=F Trump announced the new duties from the Oval Office on Wednesday, saying they would "spur growth like you've never seen before." The tariffs on...

Orders for durable goods rose 0.9% in February, well above economists' expectations for a 1% decline in the month. Meanwhile, core capital goods orders fell 0.3% in February, below the 0.2% expected, while shipments of capital goods increased 0.9%, higher than the 0.2% economists had expected. The metrics are closely watched, as they feed into the Gross Domestic Product (GDP). But following Wednesday's release, economists at Goldman Sachs wrote that they left their first quarter GDP forecast of 1.3% annualized growth for the US economy "unchanged." Renaissance Macro head of...

Orders for durable goods rose 0.9% in February, well above economists' expectations for a 1% decline in the month. Meanwhile, core capital goods orders fell 0.3% in February, below the 0.2% expected, while shipments of capital goods increased 0.9%, higher than the 0.2% economists had expected. The metrics are closely watched, as they feed into the Gross Domestic Product (GDP). But following Wednesday's release, economists at Goldman Sachs wrote that they left their first quarter GDP forecast of 1.3% annualized growth for the US economy "unchanged." Renaissance Macro head of...