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Strength of the Market
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The Strength of the Market is: Strong

Stocks declined last week after President Trump raised trade fears again, warning Apple and recommending stiffer tariffs on the European Union. On Friday, Apple shares fell 3% after Trump stated that iPhones sold in the U.S. must be made in the U.S. and if they are not "a tariff of at least 25% must be paid by Apple." The president also said trade discussions with the European Union “are going nowhere” and recommended “a straight 50% tariff on the European Union, starting on June 1, 2025.” Trump’s actions come at a time when tariff tensions were easing. The re-escalation of trade wars is threatening the recent stock rally. Last week, stocks were down - the S&P 500, Dow Jones and Nasdaq all lost more than 2%. Over the weekend, President Trump agreed to push the rollout of the European Union tariffs back to July 9, following a call with EU Commission President Ursula von der Leyen, who said that Europe is ready to advance talks swiftly and decisively.

 

Economic reports from last week came back mixed:

•Existing Home Sales - lower than expectation

•New Home Sales - higher than expectation

•Jobless Claims - lower than expectation

 

This week, investors will look for guidance from economic reports like Housing, Consumer Confidence & Sentiment, Manufacturing, Personal Income, Gross Domestic Product and Jobless Claims.

 
 
 

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