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3mo ago

Wall Street Nears Record Highs Despite Inflation and Tariff Concerns

Strong corporate earnings and a solid U.S. economy offset market worries about rising inflation and potential new tariffs.

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U.S. Dollar and Euro banknotes are seen in this illustration taken July 17, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Overview

  • The S&P 500 closed just 0.1% below its all-time high, with the Dow Jones and Nasdaq also posting significant gains.
  • Companies like MGM Resorts, GE HealthCare, and Robinhood Markets reported better-than-expected quarterly profits, driving investor optimism.
  • President Trump announced plans to increase tariffs on imports, but markets reacted calmly, viewing the move as a negotiation tactic rather than an immediate economic threat.
  • Hotter-than-expected inflation data at both the consumer and wholesale levels raised concerns about prolonged Federal Reserve interest rate policies.
  • Bond yields eased slightly, and analysts noted potential positive signs in healthcare costs that could help moderate inflation in the future.