Tariff Talk Takes a Toll | February 10th, 2025

Markets faced uncertainty last week as earnings growth accelerated, but tariff concerns weighed on sentiment. Strong reports from Amazon, Uber, Pfizer, and Bristol-Myers boosted S&P 500 earnings growth to 16.4%, yet half of companies cited tariff risks in their outlooks. U.S. consumer confidence hit a seven-month low, inflation expectations spiked, and job growth showed mixed signals. The S&P 500 fell 0.2%, Nasdaq 0.5%, and Russell 2000 0.4%, while Treasury yields dipped and gold hit new highs. This week, all eyes are on Wednesday’s CPI report, with inflation expected below 3%.

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