Will Auto Stocks Crash & Burn Due to Trump's Steel & Aluminum Tariff?

News of Trump's planned tariffs on steel and aluminum sent auto stocks sliding. Patrick Sanders, Assistant Managing Editor for Investing at U.S. News & World Report, was with us to give us his outlook for the sector. Sanders said investors aren't overreacting because it isn't clear what will happen. Investors are being smart by being cautious, he added. Sanders is not surprised to see shares of automakers trading lower, because their costs will spike with the new tariffs. Sanders breaks down winners and losers of the tariff. He stressed that Bank of America already downgraded U.S. Steel. Eventually the tariff will hurt steel stocks and it would be a mistake to assume they will go up, he said.

More In Business

Mother Jones Publisher Sues OpenAI and Microsoft For “Exploitation”

Another news organization is suing ChatGPT maker OpenAI and its business partner Microsoft for alleged copyright infringement.

US Economic Growth for Q1 Revised Up to 1.4%

The American economy expanded at a 1.4% annual pace from January through March, the slowest quarterly growth since spring 2022, in a slight upgrade.

Which Retailers Are Out & Proud... And Which Are Not

Find out which brands and retailers have embraced Pride in 2024 and which are quietly taking steps back. Watch!

Good News? Your Bank Is Prepared for Economic Disaster

While consumers might be worried about their finances, the country's biggest banks are prepared to avoid collapse, according to the Fed's stress test.

Watchdog Slams IRS Identity Theft Case Delays as “Unconscionable”

An independent watchdog within the IRS reports that while taxpayer services have vastly improved, the agency is still too slow to resolve identity theft cases. And National Taxpayer Advocate Erin Collins says those delays are “unconscionable.” Erin M. Collins said in the report released Wednesday that overall the 2024 filing season went smoothly, though IRS delays in resolving identity theft victim assistance cases are worsening. It took nearly 19 months to resolve self-reported identity theft cases as of January, and Wednesday's report states that now it takes 22 months to resolve these cases.

A.I. Investments Carry Amazon Over $2 Trillion Valuation Threshold

Amazon.com Inc. surpassed $2 trillion in market value for the first time in afternoon trading on Wednesday. The push higher for Amazon’s stock market valuation comes a little more than a week after Nvidia hit $3 trillion and briefly became the most valuable company on Wall Street. Nvidia’s chips are used to power many AI application and its valuation has soared as a result. Amazon has also been making big investments in AI as global interest has grown in the technology. Most of the company’s focus has been on business-focused products.

The Costs of Extreme Heat Go Far Beyond Higher AC Bills

Climate change doesn’t just mean more extreme weather – it also leads to billions of dollars in lost productivity, tourism, and stresses infrastructure.

How Worried Should Nvidia Be About Their Stock?

Nvidia's shares are on a roller coaster, losing lost billions in market value last week. What's next for the ride?

The Federal Government Is Making Sure Banks Are Prepared for the Worst

It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.

Budget-Friendly Tips for Your Swiftie Summer Adventures

Summer is upon us, which means weddings, trips overseas, and trips to see Taylor Swift. Avoid a “Cruel Summer” with these budget-friendly tips and tricks.

Load More