President Trump threatens Apple and the EU with tariffs
President Donald Trump has rekindled trade tensions with consecutive social media posts targeting the European Union and Apple.
U.S. stock futures have risen after President Donald Trump said he would delay the European Union’s 50% tariff over the weekend.
In response to a request from European Commission President Ursula von der Leyen, Trump said he would delay tariffs until July 9 to allow more trade negotiations. The EU has agreed to accelerate negotiations with the US
Blue Chip Dow-linked futures rose 1.31%, while Broad S&P 500 futures added 1.53%, while Tech Heavy Nasdaq futures rose 1.72%.
Investors have settled the president’s receding the 50% tariff that had fallen on stocks on Friday. Economists will fear that high tariffs will incite inflation and slow the economy, and will likely drive the United States into a recession.
Last but not least, “The Magnificent 7” reporting revenue
After the market closed on Wednesday, chip giant Nvidia will report results for the first three months of the company’s fiscal year. It is the last of the so-called 7 biggest and most influential technology stocks. Includes Alphabet, Amazon, Apple, Meta Platforms, Microsoft, Nvidia, and Tesla.
More than 95% of S&P 500 companies report this revenue season, with almost 78% exceeding analyst expectations, according to FACTSET. However, analysts were even more concerned about how many people issued a hazy view due to tariffs and worsening consumer trust.
Medora Lee is a money, market and personal finance reporter for USA Today. mjlee@usatoday.com and Subscribe to our free daily money newsletter Personal finance tips and business news every Monday to Friday.
