Wall Street hits record highs
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The stock market has learned to love President Donald Trump’s tariffs. Wall Street revolted in April after the president unveiled plans for the highest U.S. import taxes in more than a century. Stocks lost nearly 12 percent of their value in less than a week,
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The White House rolled out a series of new tariff announcements this week, yet the S&P 500, Nasdaq, bitcoin, and Nvidia have all notched all-time highs over the last 24 hours. Meanwhile, the VIX — Wall Street’s fear gauge — has collapsed well below its long-run average after surging to historic highs in April.
From cyclicals to small caps, more stocks are joining the charge that has sent the S&P 500 and the Nasdaq Composite to all-time highs.
A mixed day of trading left the U.S. stock market split, as Wall Street’s momentum slowed after setting record highs in each of the last two days
Apollo, for one, expects just one rate cut in 2025. JPMorgan strategists forecast two. Goldman Sachs last week updated its prediction to three, starting in September, arguing that moderating growth and elevated borrowing costs will force the Fed’s hand.
US stocks fell on Friday after President Trump threatened Canada with a 35% tariff on its imports to the US and floated higher blanket levies. Late Thursday, Trump on Truth Social posted a letter to Canadian Prime Minister Mark Carney,