(Bloomberg) – Global stocks mixed on Monday as traders evaluated President Donald Trump's pledge to impose tariffs on all imports of steel and aluminum.
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The European Stoxx 600 index rose 0.3%, extending profits for the eighth consecutive week, the longest winning streak since March 2024. Mining stocks slipped after Trump's latest tariff salvo. US stock futures rose and showed rebound from pullback on Friday. Asian stock benchmarks fell the most in one week.
BP PLC's stock has skyrocketed 6.7% after it was revealed that one of the world's most offensive activist investors is hoping to build stock in the company and end long-standing performances .
The dollar could rise against its key peers, including the Canadian dollar and the yen and yen on tariff rises, which could limit the Federal Reserve's ability to promote inflation and reduce interest rates. The Ministry of Finance's yields remained stable in 2010.
Trump's intention to announce 25% collection on steel and aluminum on Monday is to have a six-month congressional testimony from Chairman Jerome Powell this week and mutual tariffs announced this week on “everyone” I added already tense feelings before my sex. Trump said tariffs on metals apply to imports from all countries, but he did not specify when it would take effect.
“The dangerous assets are a bit insensitive to Trump's tariff announcements,” said Mohit Kumar of Jeffries International. “Our view of tariffs continues to be that they are volatility, negotiating tools, and ultimately not as bad as feared. However, Europe could be the next goal. Because it's high, there's a range of more volatility over the next few weeks.”
U.S. stock futures earnings suggest that some buyers may want to return to the market following a 1% sell-off retreat on the S&P 500 at the end of last week. There will be many important events on the radar over the coming days, including Powell's speeches and US CPI data.
“We're looking forward to seeing you in the future,” said Phillip Wool, Head of Portfolio Management at Rayliant Global Advisors. “There will be no declaration of a negative reaction to such an announcement.”
Separately, Trump said Elon Musk's government efficiency team discovered irregularities while examining data at the US Treasury Department.
