Trump tariffs, more Big Tech earnings, and a jobs report: What to know this week
Published On Feb 2, 2025, 7:50 AM
This week, investors are focused on the new tariffs imposed by President Trump, which will see 25% duties on Canada and Mexico and 10% on China starting February 4th, primarily linked to issues of fentanyl and illegal migration. This move has raised concerns about potential inflation and retaliatory measures from Canada, which plans to introduce counter-tariffs. The market has reacted cautiously, especially after a strong start to the year. Additionally, important economic reports such as the January jobs report and quarterly earnings from major companies like Amazon and Alphabet will be closely watched, with expectations of slight job growth and stable unemployment rates.
Stock Forecasts
SPY
Negative
With the introduction of tariffs potentially leading to inflation and economic pushback from trading partners, concern is heightened. Additionally, the upcoming earnings reports from big tech are likely to influence market sentiment significantly.
AMZN
Positive
The anticipated strong earnings from major tech companies could support stock prices if they exceed expectations, despite the overarching concern from tariff impacts.
GOOGL
Negative
Given the current market volatility from tariff announcements, the impact of these tariffs might negatively affect market sentiment, particularly for companies heavily reliant on international trade.
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