marketmoves

🇺🇸 US Markets Brief

🎯 US, EU escalate tariff threats; CPI eyed for inflation risk; S&P 500, Nasdaq hit highs.

🔸 EU prepares up to €72B in tariffs on US goods if trade talks fail; US to impose 30% tariffs on EU and Mexico imports from Aug. 1.

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🔸 US stocks close higher (S&P 500 $I:SPX +0.14%, Nasdaq record), despite tariff escalation; trading volumes below average.
🔸 US Commerce imposes 17% antidumping tariff on Mexican tomato imports, likely raising US consumer prices.

🔸 Trump presses Fed for rates below 1%; Fed maintains cautious stance with inflation above target.
🔸 Trump signals tougher Russia stance, pledges new arms for Ukraine, and threatens 100% secondary tariffs on Moscow.
🔸 Nvidia CEO notes AI-driven job risks and downplays direct impact of China chip tariffs.

...and that's the update for today. 🏁

🔸 The Trade Desk $TTD to join S&P 500 $I:SPX, replacing Ansys; TTD shares surge 15% post-market on index inclusion.
🔸 Supreme Court allows Trump administration to proceed with 1,400 Education Department layoffs; 24 states sue over $6.8B in frozen education grants.

🔸 June US CPI due Tuesday; consensus sees 2.6% y/y, with tariffs expected to lift inflation.
🔸 Port of Los Angeles sets June record as importers front-load ahead of tariff hikes, raising supply chain cost concerns.
🔸 Fed, FDIC, and OCC clarify US banks can hold crypto assets under strict risk/compliance rules.