U.S. Markets: The S&P 500 is down 0.4% in morning trading, influenced by recent economic concerns. The Dow Jones Industrial Average has risen by 0.2%, while the Nasdaq Composite has fallen by 1.1%. Nvidia’s stock declined by 1.2%, reversing earlier gains, amid reassessments of its position in the artificial intelligence sector. Salesforce shares dropped by 4.3% despite surpassing profit expectations, due to disappointing future forecasts. Additionally, President Donald Trump’s announcement of new tariffs on imports from Canada, Mexico, and China has added to market volatility
European Markets: European carmaker shares have been impacted by U.S. tariff threats, with BMW shares falling by 4% and Porsche by 3.6%. The Kiel Institute warned that such tariffs could harm both European and U.S. economies, especially if the EU retaliates. The U.S. dollar has appreciated against major currencies as President Trump reaffirmed tariffs on Mexico, Canada, and China starting next week, causing market volatility.
Corporate Earnings and Developments: Nvidia: Despite a 6% decline this year, Nvidia reported a 78% year-over-year revenue growth to over $39 billion, surpassing Wall Street expectations. However, investors remain concerned about future performance, given the company’s reliance on projected revenue streams beyond 2030.