The New York Stock Exchange backed away from record levels And he ended with mixed numbers on Tuesday, July 1, since the great technological ones began with a stroke the second semester, which resulted in red numbers, while investors evaluated the novelties on commercial and fiscal policy, as well as the development of trade agreements.
In this context, the Dow Jones index of industrialists rose 0.91% to 44,495.06 points; The S&P500 lost 0.12 % to 6,197.24 points and the Nasdaq Composite depreciated 0.82 % to 20,202.89 points
Commercial agreements in the spotlight
The announcement of a commercial agreement between USA and China last week, added to the withdrawal by Canada From their digital services tax for technology companies, just hours before implementation, they reinforced the expectations that trade agreements can be reached, before the deadline on July 9.
However, an agreement with Japan It is being problematic, and US commercial officials under the administration of Donald Trumpnow they are opting for more restrictive agreements in an attempt to ensure fast profits before the agreed date, when the return of strong reciprocal tariffs is expected, Financial Times reported Tuesday.
The administration seeks “principle agreements” on limited issues with selected countries to avoid the reimposition of duty up to 50%, according to the FT report.
These gradual agreements are a setback with respect to Trump’s original promise to reach 90 comprehensive commercial agreements during a 90 -day pause in the application of tariffs, which began on April 2.
While these agreements could exempt countries from the most severe taxes, a 10 % base tariff would be maintained while negotiations on broader issues continue.
Trump attacks Powell again
The American Central Bank decided to maintain interest rates in an objective range of 4.25% to 4.5% after a two -day meeting last month. The president of the Federal Reserve, Jerome Powelldefended a waiting attitude towards future political measures as a prudent strategy at a time of uncertainty about the impact of Trump’s aggressive tariff agenda on the economy in general.
This cautious position irritated President Trump, who intensified his attacks against Powell on Monday, sending a note to the Central Bank leader criticizing him for arriving “as always, too late” when cutting interest rates.
In a handwritten letter that included a list of official interest rates of central banks around the world, Trump claimed Powell to significantly reduce loans costs, arguing that they are “losing hundreds of billions” of dollars. “
Trump Tax Cutting Bill
He Senate approved on Saturday by a narrow margin a procedure vote from 51 to 49 to open the debate on the comprehensive bill “One Big Beautiful Bill” of President Trump, which combines tax cuts, changes in internal spending and border security provisions.
According to a new estimate of the Congress Budget Office (CBO) Published on Sunday, the version of the Senate bill would add approximately US $ 3.3 billion to the federal deficit during the next decade. The Senate Republicans intended to conclude the process before the July 4 holiday.
The Republican bill proposes an increase in the debt limit of US $ 5 billion, US $1 more than the version of the House of Representativesbut its dismissal could lead to the treasure to a summer deadline and a possible default.
The “Friends are friends” became trizas
Tesla collapsed 4.5% after Trump intensified his dispute with Elon Muskaccusing Tesla’s executive director of benefiting excessively from government subsidies and demanding a review of federal support for his company.
In a publication in Truth Social, Trump suggested that the Government Efficiency Department (Doge) I should examine federal support to Tesla, warning that “Elon could receive more subsidies than any other human being in history.”
“Without subsidies, Elon would probably have to close and return to South Africa“Trump added.
Trump’s anger to Musk is mainly due to the criticisms of the Tesla Executive Director to a Radical Law of Tax and Expenses Cuts Backed by Trump, which is currently being processed in the Senate.
Some of the outstanding actions of Wall Street
Hasbro Inc He reached a new historical maximum with a 5.1% profit, when Goldman Sachs raised his neutral qualification to buy, given the expectations that his new collectible cards of Magic: The Gathering can boost sales.
The actions of JUMIA TECHNOLOGIES AG They rose 15% after a Bloomberg report indicating that the African giant of electronic commerce attracted the interest of acquisition by Axian Telecombased in Mauricio.
Apple It rose 1.3%, extending the profits of Monday, before reports that the technological giant is considering using external AI technology to enhance its Siri voice assistant.
Alibaba Group Holdings Ltd It grew 0.6%, despite the fact that the Chinese searches giant Baidu (+0.6%) announced that its generative the language model Ernie will be open source, CNBC reported. Baidu’s measure represents a potential competitive challenge in the rapid evolution panorama of China, where Alibaba worked to strengthen his own abilities with his open source model.
Source: Ambito
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