Gold rises as markets await US tariffs; Heathrow airport was warned about power supply in days before closure – business live
Donald Trump to announce latest round of tariffs at 8pm GMTJoshua Mahony, at Scope Markets, has looked at today’s moves in stock markets.European equities are falling in anticipation of today’s liberation day tariffs with Donald Trump expected to announce his sweeping tax on imports at 4 pm Eastern time. Rather predictably it is the Dax which leads the losses as the German market surge seen in the wake of the agreement to increase the government deficit and ramp up fiscal expenditure fades.For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war. [US trade secretary] Scott Bessent has stated that today’s tariffs are likely to be the worst it will get, and his historical comments over the potential to “escalate to deescalate” means that we will hopefully soon move into a phase where we hear more about potential trade deals and tariff reduction rather than the bad news that currently dominates markets. Nonetheless, with the likes of Canada and the EU standing ready to implement retaliatory measures, things might get worse before they get better.Today brings the latest ADP payrolls report out of the US, bringing a fresh insight into the behaviour of US businesses in the face of recent tariff uncertainty. A collapse in the employment metric of the manufacturing PMI released from the ISM yesterday does highlight the struggles faced by manufacturers that could be hurt by both foreign tariffs and the rising costs of imported parts.It stands to reason that businesses will hold off hiring in the face of such uncertainty, and thus markets are faced with the possibility that we see signs of economic deterioration in the form of weak ADP and non-farm payroll figures at the back end of this week.It was following a couple of incidents of, unfortunately, theft of wire and cable around some of the power supply that, on one of those occasions, took out the lights on the runway for a period of time.That obviously made me concerned and, as such, I raised the point I wanted to understand better the overall resilience of the airport.It became quite clear we could not operate the airport safely quite early in this process, and that is why we closed the airport.If we had not done that, we would have had thousands of passengers stranded at the airport at high risk to personal injury, gridlocked roads around the airport, because don’t forget 65,000 houses and other institutions were powered down. Continue reading...
Donald Trump to announce latest round of tariffs at 8pm GMT
Joshua Mahony, at Scope Markets, has looked at today’s moves in stock markets.
European equities are falling in anticipation of today’s liberation day tariffs with Donald Trump expected to announce his sweeping tax on imports at 4 pm Eastern time. Rather predictably it is the Dax which leads the losses as the German market surge seen in the wake of the agreement to increase the government deficit and ramp up fiscal expenditure fades.
For traders and investors, today represents a day of huge uncertainty as we weigh up the potential for retaliatory tariffs and a tit-for-tat trade war. [US trade secretary] Scott Bessent has stated that today’s tariffs are likely to be the worst it will get, and his historical comments over the potential to “escalate to deescalate” means that we will hopefully soon move into a phase where we hear more about potential trade deals and tariff reduction rather than the bad news that currently dominates markets. Nonetheless, with the likes of Canada and the EU standing ready to implement retaliatory measures, things might get worse before they get better.
Today brings the latest ADP payrolls report out of the US, bringing a fresh insight into the behaviour of US businesses in the face of recent tariff uncertainty. A collapse in the employment metric of the manufacturing PMI released from the ISM yesterday does highlight the struggles faced by manufacturers that could be hurt by both foreign tariffs and the rising costs of imported parts.
It stands to reason that businesses will hold off hiring in the face of such uncertainty, and thus markets are faced with the possibility that we see signs of economic deterioration in the form of weak ADP and non-farm payroll figures at the back end of this week.
It was following a couple of incidents of, unfortunately, theft of wire and cable around some of the power supply that, on one of those occasions, took out the lights on the runway for a period of time.
That obviously made me concerned and, as such, I raised the point I wanted to understand better the overall resilience of the airport.
It became quite clear we could not operate the airport safely quite early in this process, and that is why we closed the airport.
If we had not done that, we would have had thousands of passengers stranded at the airport at high risk to personal injury, gridlocked roads around the airport, because don’t forget 65,000 houses and other institutions were powered down. Continue reading...
