- S & P 500 stumbled up on Friday Despite the decline in May in the feelings of consumers and aggressive comments by President Donald Trump, his administration would impose a new tariff on some commercial partners.
Stock prices were closed near their highest levels in February on Friday-even that consumer morale has approached its lowest levels ever. S&P 500 ended about 6000, a unprecedented number after President Donald Trump’s office, supported by a daily increase of 0.7 % and weekly gains by 2.6 %. At the same time, and Nasdak Daily profit by 0.5 %, Dow Jones jumped 0.78 %.
Friday gains come even with a decrease in the number of consumer feelings from 52.2 in April to 50.8 in May, according to new data from the University of Michigan. It is the second lowest degree in the date of the investigation of more than five years, only above 50 in June 2022. The monthly results measure how American consumers view the economy as well as their financial positions.
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Meanwhile, the markets were not upset with the latest in Trump comments On customs duties during his tour in the Middle East. He said on Friday that he would impose tax rates unilaterally on goods from dozens of countries because “it was not possible to meet the number of people who wanted to see us.”
He added that Treasury Secretary Scott Beesen and Trade Minister Howard Lootnick will start sending messages to the United States’ trading partners during the next two or three weeks, which will tell “people what they are driving to carry out business in the United States.”
On Friday’s gains are gaining a week’s recovery on the market, driven by the announcement of the United States and China agreement to reduce mutual definitions temporarily.
In early April, Trump revealed a set of aggressive taxes on a degree of exports of countries but kept the most severe poetry for the People’s Republic. His administration has placed a 145 % tax on Chinese exports to the states. China soon retaliated with a 125 % tariff for American goods.
Amid the trade war, stock markets and bond markets trembled with investors that Trump’s tariff would cause severe damage to the global economy.
In response, the president delayed the launch of his most aggressive tariff for many trading partners in the United States – with the privilege of China. But Monday, markets Rise After bessent He said The United States and China have agreed to a temporary stop of 90 days, which led to a decrease in US tariffs on Chinese exports to 30 %, and taxes on American exports to China to 10 %. The two sides participated in negotiations in Geneva, Switzerland, during the weekend.
This story was originally shown on Fortune.com
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