09:02:15 EDT Fri 09 May 2025
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Globe/wire say TSX moves up as Trump flips and flops

2025-03-26 09:04 ET - In the News

The Globe and Mail reports in its Wednesday edition that U.S. and Canadian stocks ended higher Tuesday as investors assessed weak American consumer sentiment data and bet on a more flexible trade policy from the Trump administration next week. A Reuters dispatch to The Globe says President Donald Trump announced Monday that auto tariffs were coming soon, while suggesting that not all proposed tariffs would be enforced on April 2, a date which Wall Street is focused. "I don't expect that we'll get the clarity that the market is hoping for, but investors are desperate for any sort of clarity on this front, and to the extent they'll get some of it, it's a huge day," said Ross Mayfield at Baird. Weighed by worries that Mr. Trump's tariffs would fuel inflation and hurt economic growth, the S&P 500 is down about 2 per cent so far in 2025. Moody's said Tuesday that the United States' fiscal strength is on track for a continued multiyear decline as budget deficits widen and debt becomes less affordable. Another report revealed a dip in consumer confidence. The S&P/TSX Composite Index added 35.40 points at 25,339.51. Mr. Trump's flip-flops have many investors sitting on the sidelines or defensively positioned.

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