New criticisms have emerged from the White House targeting Amazon over indications that the online retail giant may start reflecting the impact of tariffs on product prices. Meanwhile, the flurry of earnings releases and anticipation of relief from automobile tariffs have caused slight dips in S&P 500 and Nasdaq. There appears to be a strong focus on how President Trump is responding, or rather, avoiding, queries on his administration’s poor stock market performance during his first 100 days in office.
The intersection of technology industry and tariffs have also found their way onto the media landscape within the past week. Many have observed that Trump’s position started descending right after his first day in office, with criticism escalating as the days passed. Mounting scrutiny surrounds student loan servicing company MOHELA, as its questionable practices have now drawn the attention of several state attorneys general.
One of the significant news from the tech world includes the 19% decline of Nvidia’s stock so far this year, warranting an explanation to stakeholders. While tariffs seem to be the talk of the town, one chart showing the stifling effect on economic activities is capturing attention. With Trump’s administration completing a tumultuous 100 days marked by tariff uncertainties, the overarching effect is the sense of ambiguity with no clear end goal.
The challenges of home purchases amidst student loan debts are a common concern among many Americans. However, arguments suggest that with the right strategy, it’s feasible to own a home even with student loan obligations. In other news, Google’s antitrust case seems to be transforming into a debate on the future of artificial intelligence.
As the US economy continues to show signs of stumbling, speculation is rife that Powell could serve as a ‘fall guy’ for Trump in case of an economic downturn. It seems the US economy was losing steam even before trade issues intensified. Various indicators suggest that Americans might be bracing for a downturn.
Interestingly, the expectation of inflation is higher during Trump’s tenure compared to Biden’s. Questions are arising about the rationale behind Trump’s decisions during these turbulent economic times. A growing sense of apprehension is also palpable in the highly competitive D.C. housing market due to potential government layoffs.
Turning to the mobile network industry, news of companies such as Verizon, AT&T, and T-Mobile planning to hike prices due to Trump’s trade war emerged. This followed a decline in DOGE’s soaring growth.
Meanwhile, Tesla’s stock appears to be in an upswing, with gains of roughly 10%, ending the week with an 18% surge on the back of newly revealed regulations for self-driving cars in the US. The S&P 500 also made headlines with four consecutive days of gains, the longest winning streak since January.
Amid the possibility of a Google breakup, both OpenAI and Yahoo have reportedly shown interest in acquiring Chrome. However, inflation expectations remain high, resisting even Trump’s 90-day tariff pause.
Despite this, stock movements are not decidedly positive, with trends showing inconsistencies as Wall Street’s three-day surge begins to deflate. People are eager to know more about Tesla’s upcoming affordable electric vehicle, with speculations abounding that it may bear more than a passing resemblance to existing models.
Comments from Trump indicating he had no intention to fire Powell have been making rounds, but that hasn’t stopped the occasional critic from making their point. The housing sector has shown troubling signs as well, with home sales registering their most substantial monthly drop since 2022 due to high mortgage rates.
Analysts are expressing concern about the impact of Trump’s tariffs that upset the S&P 500 targets. Recent reporting suggested that Wall Street remains cautiously optimistic about Trump’s trade deal, although the concrete details of his achievements are elusive.
Bessent expressed the view that tariffs between the US and China need to be rescinded before any meaningful dialogue can commence. Trump’s indifference to the stock market’s response to his policies seems to be wavering with recent reports suggesting that the US President may soon reduce tariffs on China, hinting at a possible de-escalation of the ongoing trade war.