archivePresident Trump

Canada has scrapped its planned digital services tax on US tech firms late on Sunday, just hours before it was due to come into effect. The move aims to revive stalled trade talks with the US, which President Trump suddenly halted on Friday over the tax, calling it a "blatant attack" on American tech companies. US stock futures rose as investors welcomed the news. Benchmark stock indexes in Tokyo and Shanghai also moved higher amid optimism that the US and its top trading partners can hammer out trade deals. Prime...

Stock Market Today: S&P 500, Nasdaq fade from records; Trump-Canada trade dispute flares originally appeared on TheStreet. Updated 4:32 p.m. EDT Stocks closed at record highs on Friday, despite President Trump's threat to impose new tariffs on Canadian goods. The benchmark gained 0.52% to hit a fresh high of 6,187.68, up from the S&P’s previous record of 6,147.43, while the tech-heavy Nasdaq, which also hit an all-time high, advanced 0.52%% to close at 20,273.46. The Dow Jones Industrial Average surged 432 points, or 1%, to end the day at 43,819.27....

US stock futures edged up on Thursday as bets on interest-rate cuts rose after President Trump hinted he was looking at replacing Federal Reserve Chair Jerome Powell earlier than expected. Dow Jones Industrial Average futures (YM=F) nudged 0.2% higher, while S&P 500 futures (ES=F) rose about 0.2%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) gained 0.4%. Trump's frustration with Powell's "wait and see" approach to interest rates has led him to consider announcing his pick to succeed the Fed chair in September or October, The Wall Street Journal reported. Powell's...

Bank of America analyst Vivek Arya said in a report Wednesday that artificial intelligence could boost the AI data center market to $823 billion by 2030, up from $256 billion in 2025. “We expect every major country/region to invest in creating its independent 'sovereign' AI factory, trained in local language, culture, generating high-tech employment, and serving critical healthcare, defense, industrial, financial and cyber needs,” Arya wrote. Some $650 billion of that market would go to AI chips alone, up from $201 billion in 2025. Nvidia (NVDA) is set to be...

In remarks made on Capitol Hill early Tuesday, Federal Reserve Chair Jerome Powell brushed aside political criticism and reaffirmed the Fed’s commitment to its mission: delivering a strong and stable economy for the American people. When asked about recent name-calling and public pressure from political leaders, including accusations from President Trump of being "too late" on rate cuts, Powell made it clear that such distractions don’t influence the Fed’s work. "We’re focused on one thing," Powell said at the start of his two-day testimony. "And that is we want to...

US stock futures jumped on Tuesday, while oil prices slumped amid hopes that a US-brokered ceasefire between Israel and Iran could lay the groundwork for a more permanent end to hostilities. Dow Jones Industrial Average futures (YM=F) rose 0.7%, while those on the S&P 500 (ES=F) moved up roughly 0.8%. Contracts on the tech-heavy Nasdaq 100 (NQ=F) led the advance, up 1%. A relief rally is building amid hopes for a lasting end to a 12-day-old conflict that has spooked markets with its risks of squeezed oil supply and escalation...