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While large retailers like Walmart and Amazon are mostly brushing off Trump’s tariffs, small businesses are being crushed under the weight of them.

Block’s third-quarter revenue missed Wall Street estimates and showed slowing profit growth from Square.

A tough week in US stock markets is getting tougher by the minutes. The S&P 500 is at the lows of the day, down 1.1% to 6646. That’s the loweset since Oct 17 as the late-October low is cracked and more stops are hit.

The index is down 2.8% on the week compared to the Nasdaq down 4.6%.

The real pain is in some of the high flyers with some Mag7 names down hard, including Meta, which is now down 24% from its record high.

This article was written by Adam Button at investinglive.com.

GBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK and as markets digest scarce economic data as the US government shutdown continues. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3094. Read More…

GBP/USD clings to minimal gains on Friday amid the lack of economic data releases in the UK and as markets digest scarce economic data as the US government shutdown continues. The pair trades at 1.3148, up 0.10% after hitting a daily low of 1.3094. Read More…

The Euro (EUR) extends its rebound against the US Dollar (USD) on Friday, building on renewed weakness in the Greenback. At the time of writing, EUR/USD is trading near 1.1575, its highest level since October 30.

Shares of Japan’s SoftBank Group plunged, following a broader slump in AI-related stocks as investors once again grew wary of the sector’s lofty valuations.

This is dovish on the margin:

• one-year expected inflation to 3.2% vs 3.4% prior
• Three year inflation unchanged at 3.0%
• Five year inflation unchanged at 5.0%
• Households’ labor market outlook was mostly negative
• Perception of current financial situation worsened
• Expectation of future financial situation declined

The market remains in a poor mood with the S&P 500 down 1.0%

This article was written by Adam Button at investinglive.com.

This is dovish on the margin:

• one-year expected inflation to 3.2% vs 3.4% prior
• Three year inflation unchanged at 3.0%
• Five year inflation unchanged at 5.0%
• Households’ labor market outlook was mostly negative
• Perception of current financial situation worsened
• Expectation of future financial situation declined

The market remains in a poor mood with the S&P 500 down 1.0%

This article was written by Adam Button at investinglive.com.

Asked about the removal of the world ‘careful’ from the BOE’s language saying ‘careful and gradual’, he says it shouldn’t be overinterpreted.

The market is still off-balance on what’s coming next fro the Bank of England with pricing at 58% for a cut (though rising to 100% for February).

More comments:

• I would emphasize continuity of BOE policy, not modest changes in language

This article was written by Adam Button at investinglive.com.