The broader US stock indices are trading lower to start the new trading week but off their lowest levels. The NASDAQ index is the worst performer with a decline of near -0.10%. The S&P index is down -0.08%. The Dow 30 indices is currently up modestly by 0.10%.
The market is digesting the tariff news over the weekend where Trump enacted a 30% tariff on Mexican and EU goods (open for negotiations) effective August 1. For Mexico, he wants drug cartels to be eliminated. In the EU, he wants open access to their markets, and also want to level of pay back.
At 10 AM, Trump is expected to announce a major announcement Russia/Defense. Part of the game plan is to get Europe to pay their own way for defense through NATO. We will see what is announced.
- Crude oil is trading lower by $0.23 at $68.23. The high price reached $69.61.
- Gold is trading near unchanged at $3356
Bitcoin is trading at $121,779 up $2,658 and up from $117,500 at the close on Friday. Reasons for the gains include user monetary policy in the US budget woes, and it is crypto week. It would not look good for the price to go lower, right?
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