Tariffs, inflation, and Fed meddling
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Wall Street digested a surprisingly cool wholesale inflation reading and more big bank earnings, with one eye on Trump's latest tariff moves.
Lifted a ban on sales of powerful computer chips to China, potentially helping the US’s top rival close the gap in the AI race. Told GOP lawmakers he would soon fire Federal Reserve Chair Jerome Powell — only to reverse himself when markets tumbled.
American companies in China are reporting record-low new investment plans for this year and declining confidence in profits, while uncertainty in U.S.-China relations and President Donald Trump’s
US stocks end mixed after June inflation data and mixed earnings pressured the Dow and S&P 500. Nvidia powers Nasdaq to record high.
U.S. producer prices were unexpectedly unchanged in June as a tariff-driven increase in the cost of goods such as communication and related equipment was offset by softening demand for travel services.
A fresh report on Tuesday marked two consecutive months of rising inflation. Consumer prices rose 2.7% in June compared to a year ago, marking a notable surge of price increases as President Donald Trump's tariff policy took hold and some retailers warned they may pass some of the tax burden onto shoppers.