US EditionWall Street Drifts as Oil Prices Jump and US Manufacturing Slumps
- U.S. Stocks drifted lower on Monday as President Trump announced a doubling of steel and aluminum tariffs to 50%, effective Wednesday.
- The tariff hikes followed accusations from Trump that China failed to uphold a recent tariff pause agreement amid escalating U.S. Export controls and visa restrictions.
- Despite a better-than-expected S&P Global manufacturing report, overall U.S. Manufacturing contracted more than economists anticipated, causing market declines.
- Crude oil prices rose about 3%, with U.S. Crude at $62.65 and Brent at $64.56, after OPEC+ decided to increase production as investors had widely expected.
- The tariff increases and ongoing trade tensions contribute to economic uncertainty, higher borrowing costs as Treasury yields rose to 4.43%, and possible price increases for metal-based goods.
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104 Articles
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Center
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Right
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Flin Flon Reminder+7 Reposted by 7 other sources
Wall Street drifts as markets wait to see how much tariffs will affect the economy
NEW YORK (AP) — U.S. stocks are drifting and financial markets worldwide are holding relatively steady as the wait continues for more updates on President Donald Trump’s tariffs and how much they’re affecting the economy.
·Flin Flon, Canada
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Sun Newspapers+2 Reposted by 2 other sources
Wall Street drifts higher as oil prices jump
U.S. stock indexes drifted closer to records, coming off their stellar May. The S&P 500 rose 0.4% Monday. The Dow Jones Industrial Average edged up 0.1%, and the Nasdaq composite added 0.7%. Each of the indexes had dropped nearly 1%…
·Florida, United States
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The Columbian+4 Reposted by 4 other sources
Wall Street drifts higher as oil prices jump and U.S. manufacturing slumps
NEW YORK (AP) — U.S. stock indexes drifted closer to their records on Monday, coming off their stellar May, which was Wall Street’s best month since 2023. Read more...
·Vancouver, United States
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Total News Sources104
Leaning Left29Leaning Right4Center42Last UpdatedBias Distribution56% Center
Bias Distribution
- 56% of the sources are Center
56% Center
L 39%
C 56%
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