From Yahoo Finance: 2025-05-06 13:38:00

Stock markets are up after Treasury Secretary Scott Bessent hinted at trade agreements. Chief market strategist Mark Hackett warns of tariff-driven volatility. Consumers, businesses, and the Fed are wary due to trade turmoil. Fed expected to hold rates. S&P 500 down 0.4%, Nasdaq and Dow Jones down 0.5%.

Kremlin criticizes EU proposal to halt Russian gas imports by 2027. European Commission plans to phase out all Russian gas imports. Kremlin reacts to EU energy commissioner’s comments, wary of returning to Russian energy. EU looks to end energy ties with Russia. FTSE 100 closes flat amid global market declines.

Ferrari reports demand for supercars and rise in earnings. Shipments to Europe and Americas increase year on year. Net revenue climbs to €1.79bn in the first quarter. Resilient to potential demand shocks due to price hikes. Global shipments up 1%, impacted by sales drop in China.

Trump criticizes Canadian imports ahead of meeting with Prime Minister. US president claims US doesn’t need Canadian goods. Treasury secretary warns of nearing debt limit. Fed expected to hold rates during two-day meeting. Wall Street indexes down due to tariff uncertainties.

US Treasury secretary warns of nearing debt limit. Treasury department nears limit under federal debt rules. Bessent pledges to share progress with Congress. US government will not default. Revenue not the issue, needs to control spending. House committee challenges Bessent on tariffs.

Hugo Boss reroutes products to avoid Trump’s tariffs. Fashion house sources more products from Peru, Turkey. US becomes Hugo Boss’s largest market. Concern over US consumer spending. Company faces sales drop in the US. Global shipments rise 1%, impacted by Chinese market slump.

US Treasury secretary hints at trade agreements with major partners. Negotiating with 17 major trading partners. US has not engaged with China yet. No signs of US economy in recession. Fed expected to hold rates. Wall Street indexes down on tariff concerns. Trump’s latest plans for pharma tariffs worries investors.

Moody’s warns UK economy will grow slower than US, Canada, and eurozone. UK growth forecast cut to 0.8%. Global growth forecast also reduced. Trade turmoil to impact G20 economies. Tariff tension between US and China dampens global trade and investment.

Federal Reserve expected to keep interest rates on hold. Fed faces uncertainties from US tariff rollout. Trump criticizes Fed chairman for not cutting rates. Inflation and unemployment rates stable. Market expects 98% chance of rate pause. Fed’s key lending rate remains at 4.25%-4.5%.

Wall Street indexes open lower after Trump’s pharma tariff plans. Dow Jones falls 0.5%, S&P 500 down 0.8%, Nasdaq drops 1.2%. US companies double pharmaceutical imports in response. Trump signs executive order to boost domestic production. Tariffs expected to be imposed in two weeks.

Canada’s trade deficit narrows as US trade deficit hits record high. Imports fall faster than exports in Canada. US trade deficit hits $140.5bn, highest on record. US import tariffs disrupt supply chains. Trump delays tariffs on auto parts for two years. EU considers retaliatory tariffs on US goods.



Read more at Yahoo Finance: US debt on ‘unsustainable’ path, admits Scott Bessent