Sacks' remarks came shortly after Dutch Foreign Affairs Minister Caspar Veldkamp disclosed that China had renewed its appeals for the Netherlands to relax export controls on semiconductor technology.
Wall Street stumbled midday Friday, shaken by a fresh wave of trade war fears after President Donald Trump proposed aggressive new tariffs on Apple Inc. (NASDAQ:AAPL)
Trump's threats spark fear of trade war, causing stock market shockwaves. Tech ETFs with high exposure to Apple may see volatility. Investors seek defensive options.
At the current sales pace, the market reflected 8.1 months of supply in April, down from 9.1 months in March, but still higher than the 7.7-month supply level recorded a year earlier.
This comes after Apple CEO Tim Cook announced that the iPhone maker plans to move its manufacturing from China to India after President Trump’s reciprocal tariffs were announced on April 2.
The U.S. President noted there was “a century of drilling left, with Aberdeen as the hub,” where he owns a golf course and has previously fought offshore wind farms in court, arguing they would spoil the view from his property.
Craig Shapiro, the macro strategist at the Bear Traps Report, made a case for holding Bitcoin (CRYPTO: BTC) as he explained how the value of the traditional currencies was constantly being challenged by growing debt and inflation.
President Donald Trump's "big beautiful bill" has been approved by the House, marking a significant step towards its potential impact on Americans' finances.
The economic calendar for the day is fairly light, with speeches by a few Federal Reserve officials and the Commerce Department’s new home sales report for April on tap.
President Trump has been at odds with Powell over the central bank’s decision not to lower the Fed funds futures rate despite the slowing inflationary pressure.
Wall Street edges higher as GOP tax bill clears the House and bond yields ease, helping investors shake off prior losses while digesting mixed May business activity data.
