Here are five key points for investors as they prepare for the trading day:
1. Weekend slip
2. New tariff threat from Trump
Canadian Prime Minister Mark Carney is set to meet with US President Donald Trump at the Seven-People Summit in Kananaskis, Alberta, on June 16, 2025.
On Thursday, Trump issued a warning about a 35% tariff on Canadian goods, effective August 1. He expressed frustration with Canada’s actions regarding fentanyl and suggested more cooperation could lead to changes in tariff considerations. Trump also hinted at additional blanket tariffs, possibly between 15% to 20%, saying, “Everything else in the rest of the country is going to pay.” Currently, the US tariff rate is around 10% across most countries. Trump remarked that his tariffs were well-received by the market, which recently hit new highs.
3. Levi Strauss updates
During the IPO for Levi Strauss & Co. on March 21, 2019, the company raised its financial outlook, aiming to manage the impact of Trump’s tariffs on its products. The projections consider a 30% tariff on China and a 10% obligation elsewhere. CEO Michelle Gus stated, “We’re absorbing some costs and our business is thriving,” adding that they’re seeing great response to their new fits.
Levi Strauss aims to navigate the tariff landscape effectively with their latest strategies.
4. AI in Goldman Sachs
On August 2, 2024, the Goldman Sachs logo was displayed prominently on the New York Stock Exchange.
Goldman Sachs is integrating autonomous software, known as Devin, into their operations, reportedly developed by AI startup Cognition. This innovative program is expected to work alongside the bank’s expansive developer team, potentially expanding its role significantly in the near future.
5. White House tensions
The construction of the Marriner S. Eccles Federal Reserve Building in Washington, DC, took place on June 25, 2025.
Trump’s budget director, Russell Vert, publicly criticized Federal Reserve Chair Jerome Powell, claiming mismanagement of the central bank was an issue. In a social media post, he suggested that Powell failed to grasp the importance of essential renovations to the headquarters. Trump has been vocal in his demand for lower interest rates, even implying that dismissal could be on the table.
