Author: Daniel Wilson
The White House on Wednesday said it had granted the Big Three automakers a temporary reprieve from tariffs after a call with President Trump. Shares of all three automakers — Ford (F), GM (GM), and Stellantis (STLA) — were higher in midday trading after the news. Reading a statement from the president at Wednesday’s press briefing, White House press secretary Karoline Leavitt said: “We spoke with the Big Three auto dealers. We’re going to give a one month exemption on any autos coming through USMCA. Reciprocal tariffs will still go into effect on April 2nd, but at the request of…
Listen and subscribe to Opening Bid on Apple Podcasts, Spotify, YouTube, or wherever you find your favorite podcasts. A new toy for little Jenny or Joey may be pricier very soon as Trump tariffs ripple through a mostly China-based toy supply chain. “I think for the toy category it’s probably months,” Hasbro (HAS) CEO Chris Cocks told me on Yahoo Finance’s Opening Bid podcast (video above). Cocks — in NYC for the 2025 Toy Fair, where Hasbro showed off the latest for Monopoly, Play-Doh, and Nerf — was referencing when toy prices would go up as a result of fresh…
The first week of March will bring investors a crucial jobs report and a range of key retail earnings that could have the potential to either stoke or allay fears about the US economy and the consumer showing some signs of stress.The February jobs report out Friday is expected to show hiring rose modestly last month while the unemployment rate held steady at 4%.Last week, the major averages were a mixed bag in the end, with the Dow (^DJI) eking out a weekly gain while the tech-heavy Nasdaq (^IXIC) lost over 4%. After forfeiting its year-to-date gains at the week’s…
A choppy February for investors was punctuated by a poor reading on consumer confidence, a soft report on consumer spending, and a sell-off across many of the momentum trades that had defined the market action this year. “The fear here among a lot of investors now [has] become that the economy could be slowing down faster than the Fed is willing to react, which is a tough situation,” Steve Sosnick, chief strategist at Interactive Brokers, told Yahoo Finance an interview on Friday. For the month, the tech-heavy Nasdaq Composite (^IXIC) fell about 4% while the S&P 500 (^GSPC) and Dow…
Tesla (TSLA) shipment data out of China is not good and is the latest piece of bad news for the pure EV maker. The China Passenger Car Association (CPCA) reported Tesla’s shipments from China fell to 30,688 in February, plunging 49% compared to a year ago, per Bloomberg News, and down more than half compared to January (63,238). Meanwhile, wholesale sales of new energy vehicles in China for the month hit 840,000 units, up 82% compared to last year. Tesla stock closed down 4.4% on Tuesday and is now down 32.6% for the year. NasdaqGS – Delayed Quote • USD…
Worries of a full-blown trade war and more supply entering the market sent oil futures tumbling to multi-year session lows on Wednesday, dragging energy stocks with it. On Wednesday morning West Texas Intermediate crude (CL=F) dropped to the lowest level since 2023 before paring losses to settle at $66.21 per barrel. Brent futures (BZ=F) fell to levels not seen since December 2021 before closing at $69.24 per barrel. Oil fell for a third straight session amid fears of a tariff war impacting economic growth, more crude supply about to enter the market as recently announced by the Organization of Petroleum…
America’s farmers have once again found themselves at the center of global trade tensions this week as Donald Trump’s implementation of new tariffs was met with countermoves that could raise food prices and impact rural economies. China’s immediate retaliation Tuesday largely focused on agriculture. Canada also offered a focus on the sector in a reflection of the importance of farmers — both politically and economically — to Trump. It’s a partial replay of Trump 1.0 trade fights that played out in 2018 and 2019. But there are plenty of differences this time around as global trading relationships have shifted and…
US markets have eliminated all their post-election gains as stocks deepen their sell-off with fresh tariffs on Canada, Mexico, and China now officially in effect. The S&P 500 (^GSPC) has erased about $3.3 trillion in market cap since its record closing high of 6,144.15 on Feb. 19. At that time, the benchmark index’s post-election gains had been hovering at just around 6%. Since the start of 2025, the S&P 500 is down around 2% while the Nasdaq Composite (^IXIC) is off nearly 6% and is currently flirting with correction territory, on track to close 10% off its record high. The…
Best Buy (BBY) is turning around a three-year decline in sales growth — but it’s not enough to keep investors anxious about tariffs on consumer electronics satisfied. Shares plummeted 13% on Tuesday as investors digested the “uncertainty of tariffs” and their potential impact, Telsey Advisory Group Joe Feldman told Yahoo Finance. Feldman said he wasn’t surprised at the market reaction, adding, “excluding tariffs, the 2025 guidance was solid.” A second round of tariffs from President Trump started on Tuesday, with new duties on America’s top three trading partners: Canada, China, and Mexico. The president imposed 25% duties on Canadian and…
A rally in digital assets faded Monday despite new promises from Donald Trump about a US strategic reserve of cryptocurrencies. The president said Sunday in a social media post on Truth Social that such a reserve would include bitcoin (BTC), ether (ETH), XRP (XRP), solana (SOL), and cardano (ADA). He had not previously spelled out which digital assets would be included. The new disclosure sent the value of these digital assets soaring through Monday morning, reversing a slump that had taken hold in recent weeks and accelerated last week as bitcoin experienced its worst correction since a 2022 meltdown. By…