As President Donald Trump prepares to slap new tariffs on Chinese imports, inves...
- As President Donald Trump prepares to slap new tariffs on Chinese imports, investors are bracing for signs of pressure on U.S. consumers as top retailers begin reporting quarterly results next week and key consumer sentiment and retail sales data is released.
“We’ll be watching the data particularly around retail sales and consumer confidence,” Mahajan said. “We’ll continue to monitor the softening in manufacturing and inflation as well, but more important for the U.S. economic picture is the consumer right now.” UBS analyst Jay Sole said fears that the tariffs could eventually increase to 25% were also an overhang for stocks. Morgan Stanley has estimated that 25% tariffs would lead to a global recession.
“I really don’t think they can push prices up because their sales are already weak,” East said. “The margins are under pressure. Perhaps they can accelerate cost-cutting.”
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