Tesla, Meta, Palantir on Rampage on Weak U.S Trade Tariffs
Tech stocks surged higher in the world’s largest equity market. Meta, Tesla, and tocks linked to AI, such as Palantir and AppLovin posted heavy upsides in the first trading session of the week.
Markets bet that the Trump administration might reduce its planned tariffs. Wall Street has been rocked by concerns over the Trump administration’s tariffs.
Earlier this month, the major indices fell to six-month lows as investors feared the tariffs would slow economic growth, raise inflation, and interfere with international trade.
Reports from the Wall Street Journal and Bloomberg projected that President Donald Trump will unlikely impose sectoral tariffs, and his plans for reciprocal tariffs will only apply to roughly 15 nations.
Trump has referred to April 2 as the United States “liberation day” on numerous occasions. Although tariffs on important U.S. trading partners are still anticipated to have an economic impact, their reduced reach gave investors some hope that the effects would be negligible.
Several speeches by Federal Reserve officials are being watched this week for additional clues about the state of the American economy, particularly after the central bank indicated increased uncertainty surrounding Trump’s policies.
The Fed is generally expected to maintain interest rates at their current level shortly since sticky inflation also restricts the potential for rate cuts, In addition to the Fed, the March purchasing managers index data is expected to provide additional insights into business activity in America.
This week also sees the release of the personal consumption expenditures price index, an inflation indicator that Fed policymakers closely monitor, and an updated reading on the fourth-quarter gross domestic product data.
ABOUT THE AUTHOR
See More
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals