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.
The major indices reached all-time highs this week – but when it comes to that Dow Jones record, veteran CIO Kevin Mahn says, ‘I don’t even look at the Dow.’
The WNBA is gearing up for what is sure to be an incredible season — with sold out crowds and high ratings. It's Caitlin's world, we're just living in it.
Tipping expectations have increased. A 2023 survey revealed that approximately 72% feel they are now asked to tip service workers more often than before.
