16 July
S&P 500 rises on robust preliminary corporate earnings
On Thursday, the S&P 500 rose 0.3%. The gains were widespread, with more than 350 stocks in the index ending higher. Investors weighed the latest US import tariff news and looked ahead to next week’s corporate earnings reports, Bloomberg notes.
Uncertainty about US trade policy continues. President Donald Trump has threatened to impose 50% tariffs on imports from Brazil due to the country's political situation.
Additionally, the American leader stated that the country would begin levying a 50% duty on copper imports starting August 1. This week, Trump also announced new tariffs targeting several of the nation's trading partners.
Bloomberg experts warn that these market swings could soon start hurting US stock prices. The Fed will likely keep interest rates high, raising the risk of an American economic downturn.
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