- The so-called taco trade is tested As a market, President Donald Trump’s announcement reacts on Friday evening, he will double steel tariffs to 50%. In the meantime, the administrative officers passed out that the Trump and President Xi Jinping could sort the hooks in the US China trade talks.
The stocks showed a little lower Sunday evening after President Donald Trump doubled the fears of the trade war again on Friday in steel tariffs.
The so -called Taco trade It will be tested when the markets are waiting to see whether Trump will actually make his latest threat or whether he will soon put them in the queue.
The futures for the Dow Jones Industrial Average fell by 89 points or 0.21%. S&P 500 -Futures fell by 0.23%, while the Nasdaq Futures fell by 0.31%.
The return of the 10-year Ministry of Finance was essentially flat at 4.442%. The dollar fell by 0.21% and 0.31% compared to the yen.
Gold collected 0.63% to $ 3,309.50 per ounce. The US oil prices nevertheless rose by 2.1% to $ 62.08 per barrel Opec+ agree to a further increase in care.
On Friday evening Trump said he would do it Steel tariffs to 50% from 25%, which leads to a risk of retaliatory by the European Union at the weekend.
The announcement of the steel obligation took place after a US commercial court that the legal basis for Trump’s mutual tariffs was invalid. But its tariffs in certain industries, including steel, aluminum and cars, rest on a separate order based on national security.
In the meantime, the administrative officers passed out that the Trump and President Xi Jinping could sort the hooks in the US China trade talks.
After Trump claimed that Beijing had violated an agreement in Geneva last month, Switzerland, when both sides broke off their respective tariffs from unaffordable high levels. China also agreed to open access to rare earths again, but the USA said it was Slow rolling compliance With the pact.
The finance minister Scott Bessent tried on Sunday DESCALITE The rhetoricTell CBS Put on the nation that the two heads of state could alleviate Logjam.
“I am confident that if President Trump and party leader XI have a call that this will be ironed out,” he said.
When asked about a timeline for a call, he replied: “I think we’ll see something very soon.”
In the meantime, the markets have to go on the way to a big week with economic data and comments, since Wall Street is waiting for further indications of how much tariffs influence the economy.
The production index of the Institute for Supply Management will come out on Monday. The Ministry of Labor will issue its job and work sales report on Tuesday. On Wednesday, ADP releases its private data for private Payrolls. On Thursday, the Ministry of Labor will publish weekly unemployment claims before the monthly job report on Friday.
Several officials from the Federal Reserve will talk about the whole week. On Monday, the chairman Jerome Powell speaks at 1 p.m. ET at a Fed conference in Washington, DC, the Fed will also publish his beige book on Wednesday.
This story was originally on Fortune.com