President-elect Donald Trump speaks with CNBC’s Jim Cramer at the NYSE on Dec. 12th, 2024.
CNBC
My top 10 things to watch Tuesday, March 4
1. Tariffs lower the price we will pay for stocks. Remember, we are now in the era of “Every Day Lower Prices,” call it the Walmart-White House. This is from a president who used the market to measure success.
2. Wall Street was under pressure again today as President Donald Trump’s tariffs on Canadian and Mexican imports went into effect. Canada and Mexico promised to retaliate. U.S. stocks were crushed yesterday.
3. The U.S. also added another 10% tariff on Chinese imports on top of the 10% duties Trump already put in place. China retaliated immediately. Club name Apple will feel the bite as the U.S. tech giant looks to make AI inroads in China.
4. Target CEO Brian Cornell told CNBC today that Trump’s Mexico tariffs could lead to higher prices on strawberries, avocados, bananas, and other produce in the next few days.
5. Target reported better-than-feared fourth-quarter results but warned on guidance due to “ongoing consumer uncertainty.” The worrying outlook matched similar warnings from Walmart last month.
6. Taiwan Semiconductor Manufacturing, the go-to fabricator of Club name Nvidia and other big chip designers, promised to invest another $100 billion in the U.S. on top of the $65 billion already committed.
7. Elbridge Colby, going for Defense undersecretary of policy, has previously written that “Taiwan itself isn’t of existential importance to America,” which is disconcerting to those of us who own companies connected to TSMC. Shares of Nvidia were falling this morning after being slammed yesterday. Still, Colby has said Taiwan is an important part of “denying China regional hegemony over Asia.”
8. Oil prices fell Tuesday as OPEC+ appeared ready to go forward with production increases to add 2.2 million barrels per day by 2026. U.S. crude is coming down below $70 per barrel.
9. The Wall Street analyst parade of CrowdStrike price target hikes continued, with Canaccord going to $420 per share from $370 and keeping its buy rating. The Club name reports earnings tonight.
10. Club holding Honeywell has agreed to buy Sundyne for nearly $2.2 billion. The pump maker will be part of Honeywell’s energy business ahead of the company’s three-way split, focusing on advanced materials, aviation and automation.
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