After US Presidential Election Donald Trump won the presidential election in New York City on November 6, 2024, the US flag is dependent on the construction of the New York Stock Exchange (NYSE).
Andrew Kelly | Reuters
Stock futures were high on Sunday as investors attempt to gather whether the stock can expand its recent earnings into a fresh trading week.
Futures linked to Dow Jones Industrial Average Advanced 182 points, or 0.4%. S&P 500 Futures 0.5% added Nasdaq 100 futures It was 0.6% higher.
Stocks are off the much needed victory week. The S&P 500 finished on the green on Friday, avoiding a weekly loss in four straights.
However, investors are concerned about a potential slowdown in US economic growth as President Donald Trump’s start on April 2nd of his mutual tariff approach. Trump said tariffs are targeted at countries that impose duties on US imports.
“We feel that the stock is ripe for bounce,” Bank of America’s trading desk said in a note on Sunday. “The positioning hurdles have been cleared, sentiment has been reset, flow has been turned tailwind, and growth concerns have been well flagged.”
Certainly, Trump appeared to have lowered investors’ temperatures on Friday. However, the president stopped suggesting that there could be tariff exemptions, as he did similarly for the automakers in early March.
On Sunday, the Wall Street Journal reported that tariffs are expected to be narrower and likely to exclude industry-specific obligations by citing administrative officials.
Trump’s overall rhetoric about pending obligations and US trade policy has sparked fear among investors that the US economy could be on a volatile footing. These concerns were exacerbated by weakening consumer sentiment data. However, investors received some encouraging words from Federal Reserve Chairman Jerome Powell. Jerome Powell said last week that the potential negative impacts from Trump’s tariffs are likely to be short-lived.
At the forefront of this week’s data, investors will receive consumer confidence measurements on Tuesday, followed by their first weekly unemployment claim figures on Thursday.
