Stock market today: Wall Street is ending its wild week with what else but more swings
By STAN CHOE
NEW YORK (AP) — Wall Street rose on Friday, but only after careening through another wild day. It was a fitting ending to a brutal week of scary swings dominated by worries about the U.S. economy and uncertainty about what President Donald Trump will do with tariffs.
Read MoreTrade war widens as tariffs from, against US begin this week
The Trump administration is moving forward with new tariffs this week, escalating global trade tensions and prompting retaliatory measures from both Canada and China.China, Canada, and Mexico are the biggest U.S. trading partners, accounting for more than a third of all U.S. trade.Onboard Air Force One Sunday, President Donald Trump defended using tariffs.”All I know is we’re going to take in hundreds of billions of dollars in tariffs,
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Read MoreS&P 500 to sink 5% on growth risks: Morgan Stanley’s Michael Wilson
U.S. stocks are at risk of slumping another 5% on worries about the hit to corporate earnings from tariffs as well as lower fiscal spending, according to Morgan Stanley’s Michael Wilson.
The strategist — among the popular bearish voices on equities until mid-2024 — said he expects the S&P 500 to hit a low of about 5,500 points in the first half of the year,
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Read MoreUnpacking the Latest Options Trading Trends in Archer Aviation
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Read MorePresident Trump says he’ll ‘always protect’ Social Security, Medicare benefits — as GOP mulls Medicaid reform
With the House narrowly passing a budget blueprint that calls for at least $1.5 trillion in spending cuts, fears are being fueled about potential cuts to popular programs like Social Security, Medicare and Medicaid.
The Trump administration, for its part, has asserted it has no such plans. In late February, House Speaker Mike Johnson told CNN’s Kaitlan Collins that the White House made a “commitment” not to touch social programs.
Read MoreThe Burst
Alert: Massive Move Coming In Out of Favor Stock
Investment Alert: Buy AirBNB (ABNB) Under $145/share
Disclaimer: Investment Alerts have a medium to long-term time horizon. These do not constitute financial advice and you should contact a financial advisor before deciding whether it is appropriate for your individual circumstances.
Sit back. Sip a coffee. This will be a good one.
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Read MoreThe Ivy
Market Commentary: 1 Easy Way To Get Lots Of Extra Income
The S&P 500 has been on a monumental run over the past few months, climbing from near 4,100 last October to almost 5,000 more recently.
It’s a tough time for bulls and bears after such a sharp run up in a narrow time window. The options are to short the market at your peril or go long the market and risk a big drawdown.
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