Trump to announce 25% aluminium and steel tariffs; stocks gain and XAU makes a fresh ATH
Good morning USA traders, hope your day is off to a great start! Here are the top 5Â things you need to know for today’s market.
5 Things You Need to Know
US President Trump said he will announce 25% tariffs on all steel and aluminium coming into the US on Monday and unveil reciprocal tariffs on Tuesday or Wednesday which will go into effect almost immediately.
Stocks hold a positive bias despite tariff updates from Trump; NQ outperforms, whilst US steel names surge.
USD is mixed vs. peers as tariff updates dominate newsflow; JPY underperforms.
USTs are flat, Bunds are a touch higher as tariff threat concerns weighs on the EZ outlook.
Gold makes a fresh ATH above USD 2,900/oz on tariff woes, crude sits at session highs.
(Reuters) – A look at the day ahead in U.S. and global markets by Amanda Cooper.
Another week brings another round of tariff surprises from U.S. President Donald Trump. This time, it’s a 25% duty on all U.S. imports of steel and aluminium on top of any existing tariffs.
Investors are selling off shares in major steelmakers, but so far this has been orderly and price moves have been fairly contained. Tariffs have become part and parcel of the “Trump 2.0” operating manual and although they carry the risk of igniting volatility, the market has become a little less hypersensitive to each individual headline.