Markets Resist Trump's Tough Talk on Trade Ahead of G7
*By Michael Teich*
President Trump's tough talk on trade at the start of the Group of Seven summit was not enough to dampen markets, said Daniel Ives, the chief strategy officer and head of technology research at GBH Insights.
Major stock indexes closed on a high note Friday, locking in gains for the week. Equities edged up despite trade tensions stoked by Trump's comments before arriving in Quebec for the G-7 that he would "deal with the unfair trade practices."
"Tariffs have been a black cloud, but it's becoming background noise," Ives said Friday in an interview with Cheddar.
He said he sees potential for mergers and acquisitions in the big data and consumer industries after Microsoft's $7.5 billion purchase of GitHub, which he described as a "no-brainer."
Microsoft, Netflix, and Google are all in positions of strength to make acquisitions, Ives said.
A legal expert helps break down why Tesla shareholders are voting on Elon Musk’s historic pay deal – and why betting against Musk usually doesn’t pay off.
Chair Jerome Powell says the Federal Reserve only expects to cut rates once in 2024. But at least, as one economist says, ‘rate hikes are off the table.’
