Trump announces deal with E.U. imposing 15% tariffs, averting trade war
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The U.S. and the European Union have agreed to a trade framework that will result in 15% tariffs on most imported European goods, President Donald Trump announced Sunday. The deal comes a week before Trump’s Aug. 1 deadline, averting an all-out trade war between the two economic giants.
Trump announced the agreement Sunday from one of his golf clubs in Scotland, after meeting with European Commission President Ursula von der Leyen.
S&P 500 scores 5th straight record high ahead of Europe-U.S. trade meeting
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Wall Street’s so-called fear gauge dropped this week as U.S. stocks continued to set record highs, with investors appearing encouraged in part by the White House’s progress on the global trade front.
The Cboe Volatility Index
VIX saw a weekly decline of 9% to end Friday at 14.93 — the gauge’s lowest close since February, FactSet data show.
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Victor Reklaitis is a Washington Correspondent for MarketWatch. During his time at MarketWatch, he also has served in roles in the London and New York newsrooms. Prior to joining MarketWatch, he worked at Investor’s Business Daily and for newspapers in Virginia.
Kohl’s stock soars and Opendoor sees massive volume as meme-stock ‘mini-bubble’ forms
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A day after Opendoor Technologies Inc. was swept up in the latest round of meme-stock mania, shares of Kohl’s Corp. skyrocketed amid what a behavioral-finance expert describes as a “mini-bubble.”
Shares of the discount department-store chain
KSS ended the session up 37.6% but had been up as much as 105.3% to an intraday high of $21.39, their highest price seen since Aug. 1, 2024. That was enough to make Kohl’s the biggest gainer on the New York Stock Exchange.
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Jessica Hall is a retirement reporter for MarketWatch. She was an Age Boom Academy Fellow with Columbia University and completed the Leadership Exchange on Ageism. She previously worked at Mainebiz, the Portland Press Herald and Maine Sunday Telegram, where she and her team earned a Scripps Howard Award for Community Journalism for a series on aging. She spent 17 years at Reuters, covering mergers and acquisitions, telecommunications and airlines. She started her career in Baltimore at The Daily Record and Baltimore Business Journal. She has freelanced for Barron’s and other publications.
Albertsons shows why tariff inflation isn’t showing up yet
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Grocery chain Albertsons Cos. reported fiscal first-quarter results early Tuesday, with the grocery chain explaining why tariff-related inflation has not yet hit its customers. But it acknowledged that at some point, some costs could be passed on to consumers.
During the conference call to discuss the results, Albertsons
ACI Chief Executive Susan Morris was asked about the impact of tariff-related inflation on ingredients and packaging in its grocery and pharmacy businesses.
Here’s why this is a golden age for banks — but some of their stocks may be too high
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Bank-earnings season will begin on Tuesday, and dedicated industry investors are enjoying what can only be called the best of times. And an easing regulatory environment and the prospect of further interest-rate cuts by the Federal Reserve could set up another period of improvement for U.S. banks — especially the largest ones.
JPMorgan Chase & Co.
JPM, Citigroup Inc. C and Wells Fargo & Co. WFC will announce their second-quarter results Tuesday morning before the market opens. Bank of America Corp. BAC, Goldman Sachs Group Inc. GS, and Morgan Stanley MS will report on Wednesday to round out the largest six U.S. banks by total assets. Most large regional banks will report their results within the next two weeks.
