Trump’s strong technical earnings in the form of Trip’s tariff deadline loop stopped the ongoing fears on business.
Summary
- Nasdaq records on meta and microsoft income.
- Major tariff time limit approaches for major American trading partners.
- Apple’s upcoming earnings will reveal the real impact of the tariff.
American stock indices increased as strong technology earnings, offset concerns about tariff’s deadline. On Thursday, 31 July, Dow Jones slipped 0.19% due to losses in financial and consumer defensive companies. Meanwhile, S&P 500 received 0.10%, and Nasdaq reached a record high with an increase of 0.45%.
The markets were focused on technical earnings, especially on Microsoft and Meta, which deported the strong quarterly results. After annuals, Microsoft rose 9% and Meta increased by 12%. Traders are now waiting for Apple’s earnings, which is scheduled after the market closure on Thursday.
Apple’s report is important due to the company’s globally distributed manufacturing. This will help reduce the impact of President Trump’s tariff on American businesses, Trump will face 25% tariff on iPhone if the company does not make DOS America
Trump tariff deadline
On 31 July, the White House extended the tariff deadline for Mexico to 90 days, giving two counties more time to interact. Trump said he had a “very successful” conversation with Mexican President Claudia Shinbaum and highlighted the unique relations between the two countries.
For the US, Mexico is a major business partner and a leading recipient of American investment. Penitive tariffs can keep American companies with production in an inter -position in Mexico and can significantly affect users.
Nevertheless, many other major American trading partners including Canada, India and Brazil, still face tariffs starting from the date of August 1.